The global multiple myeloma drugs market exhibited strong growth during 2015-2020.
Multiple myeloma, or Kahler’s disease, refers to a form of blood cancer that primarily affects the plasma cells. Some of the most common types of multiple myeloma drugs include chemotherapeutic agents, corticosteroids and immunomodulatory agents. These pharmaceutical drugs aid in promoting bone healing, prevent hypercalcemia, bone fracture, spinal cord compression and anemia, while minimizing the need for chemotherapy. The chemotherapeutic agents include various anthracycline antibiotics and alkylating agents, such as melphalan, doxorubicin, vincristine and liposomal doxorubicin. The targeted therapy drugs include proteasome inhibitor, such as bortezomib, and various other compounds, including dexamethasone, prednisone and thalidomide.
Significant developments in the healthcare sector, along with the increasing prevalence of hematological cancer, is one of the key factors driving the growth of the market. Multiple myeloma is usually caused by specific genetic abnormalities, and the treatment of this disease involves drugs that modulate the immune system and aid in enhancing the efficiency of chemotherapies, radiation therapies, stem cell transplants and platelet transfusion. Furthermore, rising consumer awareness regarding the benefits of biologic therapy drugs, which utilize the body’s immune system to identify and attack the myeloma cells, is also providing a boost to the market growth. Additionally, various technological advancements, such as the development of microRNA therapeutics and nanomedicines for the treatment of multiple myeloma, is acting as another growth-inducing factor. These medicines are used to facilitate the delivery of macromolecular agents into the bone marrow and catalyze antitumor responses. Other factors, including the rising healthcare expenditures and extensive research and development (R&D) activities in the field of medical sciences, are projected to drive the market further. Looking forward, the analyst expects the global multiple myeloma drugs market to grow at a CAGR of around 10% during the forecast period (2021-2026).
Breakup by Therapy: Targeted Therapy Biologic Therapy Chemotherapy Others
Breakup by Drug Type: Immunomodulatory Drugs Proteasome Inhibitors Histone Deacetylase Inhibitors Monoclonal Antibody Drugs Steroids Others
Breakup by End-User: Men Women
Breakup by Distribution Channel: Hospital Pharmacies Retail Pharmacies Online Pharmacies Others
Breakup by Region: North America United States Canada Asia Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The report has also analysed the competitive landscape of the market with some of the key players being Amgen Inc., Bristol-Myers Squibb Company, Daiichi Sankyo Company, Genzyme Corporation (Sanofi-Aventis), Johnson & Johnson Services Inc., Merck & Co. Inc., Novartis AG, Pfizer Inc., Pharma Mar S.A., Takeda Pharmaceutical Company Limited., Teva Pharmaceutical Industries Ltd., etc. Key Questions Answered in This Report:
How has the global multiple myeloma drugs market performed so far and how will it perform in the coming years? What are the key regional markets? What has been the impact of COVID-19 on the global multiple myeloma drugs market? What is the breakup of the market based on the therapy? What is the breakup of the market based on the drug type? What is the breakup of the market based on the end-user? What is the breakup of the market based on the distribution channel? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global multiple myeloma drugs market and who are the key players? What is the degree of competition in the industry?
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