February 11, 2021
According to a recent study titled ‘Global Multiple Myeloma Market Analysis, 2020’, available with Market Study Report LLC, global multiple myeloma market is expected to register a year-over-year growth rate of 6% over 2020-2025.
Worldwide multiple myeloma market growth is driven by growing prevalence of the condition along with increasing cancer research and ongoing drug development activities, cites the study.
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The research report attempts to cover all factors pivotal to the growth of the industry, and also address the challenges faced by players in this domain. It’s also consists a deep-dive analysis of the market segmentation, including test type, medication, end-users, and geographical scope. Lastly, it expands on the competitive benchmarking by profiling the leading organizations.
Based on medication, global multiple myeloma industry is classified into targeted chemotherapy, targeted therapies, stem cell transplant, radiation therapy, and supportive treatment. Of these, chemotherapy currently accounts for a sizeable industry share, attributable to lack of alternative medication, limited surgical procedures, and ongoing development of multiple pipeline drugs.
Meanwhile, targeted therapy segment is showcasing strong growth, creditable to escalating adoption of immunomodulating drugs, coupled with approval and launch of monoclonal antibodies such as Darzalex and Empliciti in the marketplace.
Elaborating on end-user spectrum, global multiple myeloma market is categorized into laboratories, hospitals & specialty centers, and others. Among these, laboratories grabbed significant industry share in 2019 and is expected to witness modest gains in the forthcoming years. Growing investments by pharma companies in R&D of novel drugs for treatment is contributing to the segment growth.
In terms of test type, blood, imaging, and biopsy are the key segments covered in the document. Moving to the geographical scope, the market size spans across North America, South America, Asia Pacific, Europe, and Middle East & Africa.
Speaking of the competitive arena, top contenders in global multiple myeloma market sphere are Karyopharm Therapeutics, Inc., Takeda Pharmaceutical Co., Ltd., Juno Therapeutics, Sanofi Genzyme, Amgen, Inc., Kesios Therapeutics Ltd., Celgene Corp., Novartis AG, Bristol Myers Squibb, and Janssen Biotech, Inc.