Press Release Description

Growing R&D Investment and Approval for the Novel Drug Development Boosting the Global Multiple Myeloma Market Growth 

Multiple myeloma (MM) is among the second-most common type of blood cancer among the population. A considerable rise in the incidence and prevalence of MM is witnessed in the emerging economies such as India and China especially among the middle and low-middle class. Changing lifestyle of the people are making them more prone toward developing symptoms of MM, boost in the incidences of plasma cancer, and increasing investment in R&D by the key pharma companies for innovation of novel drugs for multiple myeloma is projected to augment the growth rate of the Global Multiple Myeloma market over the forecast period.
According to MarkNtel Advisors’ research report titled Global Multiple Myeloma Market Analysis, 2020”, the Global Multiple Myeloma market is anticipated to grow at a CAGR of around 6% during 2020-25, owing to the launch of various monoclonal antibodies along with surging government approval on drugs and therapies for the treatment of multiple myeloma. Moreover, the spur in the rate of clinical trials for the treatment of the disease and escalating demand for government funding in countries such as the UK for the development of the drugs is projected to proliferate the growth of the Global MM market in the forthcoming years.

“Global Multiple Myeloma Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Multiple Myeloma providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.       

North America Accounted for the Largest Market Share
North America is anticipated to attain the majority market share during 2025 on an account of factors such as rising aging and obesity rates amongst the population, burgeoning incidences of multiple myeloma disease, and escalating funding of large-scale companies toward the development of novel drugs. The American Cancer Society’s estimated that new cases of multiple myeloma would be about 32,270 (17,530 in men and 14,740 in women). Along with this, deaths to reach approx. 12,830 (7,190 in men and 5,640 in women) in the United States for 2020.
Asia-Pacific acts as a lucrative market in the coming years owing to the rising awareness among the people, proliferating demand for biologic therapies, along with growing emergence of nanomedicine and advancement in the healthcare infrastructure is expected to accelerate the growth of Multiple Myeloma market in the region in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Multiple Myeloma Market Analysis, 2020”.  

According to MarkNtel Advisors, the key players with a considerable market share in the Global Multiple Myeloma market are Janssen Biotech, Bristol-Myers Squibb, Novartis, Celgene, Kesios Therapeutics, Amgen, Sanofi Genzyme, Juno Therapeutics, Takeda, Karyopharm, etc.

Market Segmentation:
1.    By Test Type (Blood, Biopsy, Imaging [X-rays, CT scan (Computed tomography scan), Magnetic resonance imaging (MRI) scans, Positron emission tomography (PET) scan, Echocardiogram (ECHO)], Others (Urine test, etc.))
2.    By Medication (Chemotherapy [Anthracycline antibiotic, Alkylating agent], Targeted Therapies [Immunomodulatory Drugs, Monoclonal Antibodies, Proteasome Inhibitors, Histone Deacetylase (HDAC) Inhibitors, Others (Nuclear export inhibitor, etc.)], Radiation Therapy, Stem Cell Transplant, Supportive Treatments)
3.    By End-User (Hospitals & Specialty Centers, Laboratories, Others)
4.    By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
5.    By Country (US, Canada, Mexico, Brazil, UK, Germany, France, Spain, Italy, The Netherlands, China, Japan, South Korea, India, South East-Asia, UAE, Saudi Arabia, South Africa), 
6.    By Company (Janssen Biotech, Bristol-Myers Squibb, Novartis, Celgene, Kesios Therapeutics, Amgen, Sanofi Genzyme, Juno Therapeutics, Takeda, Karyopharm, etc.)

Key questions answered in the study: 
1.    What are the current and future trends of the Multiple Myeloma industry? 
2.    How the industry has been evolving in terms of end-user demand and application areas?
3.    How the competition has been shaping across the countries followed by their comparative factorial indexing?
4.    What are the key growth drivers and challenges for the Multiple Myeloma industry?
5.    What is the customer orientation, purchase behavior, and expectations from the Multiple Myeloma firms across various regions?