According to the latest report by IMARC Group, titled “Multiple Myeloma Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global multiple myeloma drugs market reached a value of US$ 19.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 28.1 Billion by 2027, exhibiting a CAGR of 6.6% during 2022-2027. Multiple myeloma, or Kahler’s disease, is a form of blood cancer that affects the monoclonal plasma cells. The treatment of multiple myeloma involves chemotherapeutic, corticosteroid, and immunomodulatory agents. These treatments primarily utilize doxorubicin, liposomal doxorubicin, melphalan, and vincristine to control the growth of cancer cells. In addition, medical professionals employ targeted therapy drugs, like prednisone, thalidomide, and bortezomib, to alleviate pain, control tumor growth, promote bone healing and prevent the development of anemia, hypercalcemia, and bone fracture.
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Global Industry Trends:
The global multiple myeloma drugs market is primarily being driven by the increasing prevalence of hematological cancer and significant developments in the healthcare sector. The rising awareness regarding the benefits of biologic drug therapy for studying myeloma is further supporting the market growth. Additionally, the escalating demand for multiple myeloma drugs can be attributed to the rapid development of micro-ribonucleic acid (microRNA) therapeutics and nanomedicines as an effective treatment plan. Moreover, continuous investments in research and development (R&D) activities in medical science are creating a positive outlook for the market.
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Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Amgen Inc., Bristol Myers Squibb, Daiichi Sankyo Co., Ltd., Sanofi-Aventis Groupe (Genzyme Corporation), Johnson & Johnson Services, Inc., Merck & Co., Inc., Novartis International AG, Pfizer Inc., PHARMA MAR, S.A., Takeda Pharmaceutical Company Limited., and Teva Pharmaceutical Industries Ltd.
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)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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