Multiple Myeloma Market to Reach US$31 Billion by 2026; Increasing Emphasis on Treatment of the Aggressive Form of the Disease Will Aid Growth

The global multiple myeloma market size is projected to reach USD 31 billion by the end of 2026. The high prevalence of the disease will emerge in favor of the companies operating in the market. According to a report published by Fortune Business Insights, titled “Multiple Myeloma Market Size, Share & Industry Analysis, By Drug Class (Immunomodulators, Proteasome Inhibitor, Anti-CD38 Monoclonal Antibody, Alkylating Agents, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies & Drug Stores, Online Pharmacies), and Regional Forecast, 2019-2026,”the market was worth USD 19.48 billion in 2018 and will exhibit a CAGR of 6.0% during the forecast period, 2019-2026.

Multiple myeloma is a type of cancer that occurs in the blood of the human body. The severity of this disease has created a huge emphasis on the early treatment and detection of the disease including the efficient treatment of the aggressive form of the disease, owing to the fact that blood disorders may possess fatal consequences. As a result, massive investments are being made in the research and development of efficient treatment options. The growing emphasis on product R&D will contribute to the growth of the market in the forthcoming years. The ongoing clinical trials and advances in drug development processes will create a huge platform the growth of the companies operating in the market. The increasing investments in product R&D will aid the growth of the market in the foreseeable future.

Advances in Ongoing Clinical Trials Will Aid Growth

The report encompasses several factors that have contributed to the growth of the market in the coming years. Due to the severity of this disease, there has been a huge emphasis on the development of efficient treatment options as well as therapeutic procedures. In the past few years, it has been observed that these investments have significantly paid off. The increasing investment in the R&D of products has led to rapid advances in pipeline candidates associated with the treatment of the disease. In December 2019, the first clinical data released for a new bispecific antibody showed positive results. The ‘REGN5458’ was released for treatment of multiple myeloma and positive results have been recorded for the drug. This development will encourage several other companies in the market and have a direct positive impact on the growth of the market in the coming years.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/multiple-myeloma-market-102693

Growing Prevalence of Multiple Myeloma Will Open Up a Huge Platform for Market Growth

Among all factors that have benefited the market, the increasing prevalence of multiple myeloma has made the highest impact on the growth of the market. The severity of the disease, coupled with the emphasis on the development of efficient drugs is somewhat consequential to the high prevalence of the disease. Despite the initial stagnancy, ongoing advances in the treatment options of the disease will create several opportunities for market growth. The support from government organizations in the form of awareness disease will bode well for the market in the coming years.

Diverse Portfolio of Major Companies Will Aid Market Growth

The presence of several large scale companies has made a huge impact on the growth of the market in recent years. The growing prevalence of this myeloma has attracted several large scale companies as well as investments from across the world. Due to healthy market competition, companies are looking to possess a diverse product portfolio and provide efficient services. A few of the leading companies that are operating in the global multiple myeloma market include:

• Takeda Pharmaceutical Company Limited
•  Novartis AG
• Teva Pharmaceutical Industries Ltd.
•  Bristol Myers Squibb Company
•  Amgen Inc.
• ONO PHARMACEUTICAL CO., LTD.
• Janssen Pharmaceuticals, Inc.
• Genentech, Inc. (F. Hoffmann-La Roche Ltd)
• CELGENE CORPORATION (Bristol Myers Squibb Company)
• AbbVie Inc.
• Sanofi
• Karyopharm
• Others

Industry Developments:

• April 2019: The Multiple Myeloma Research Foundation (MMRF) introduced the ‘Myeloma Investment Fund’ a step taken to proceed in the research activities associated with this myeloma.

The global multiple myeloma market segmented on the basis of: