San
Francisco, Nov 14 The global multiple
myeloma therapeutics market was valued at USD 7.5 billion in 2015
and is expected to reach a value of USD 37.5 billion by 2024. Key factors
driving the market expansion include constant introduction of newer and
effective therapeutic options and high adoption rates of the same.
This space is expected to gain
momentum with the addition of novel drugs to the current therapeutics array
with monoclonal antibodies and Histone Deacetylase (HDAC) inhibitors. Due to
failed outcomes of the currently available medication, there is a high demand
for effective treatment strategies to offset therapeutic dissatis faction and
increase life expectancies of patients; which in turn is expected to boost the
research and development of improved therapies for multiple myeloma.
Growing prevalence of the disease
along with the surging elderly population is the prime factor expected to drive
the growth significantly during the forecast period. Complications involved in
treating geriatric patients are driving the demand for supportive treatments
such as restoration procedures involving transfusion of blood components and
point of care technologies.
The U.S, followed by Europe,
has been dominating the market owing to the presence of major players in these
regions, faster approval rates, and favorable healthcare policies. Higher
prevalence of multiple myeloma in the developed economies is a pivotal
determinant driving the growth of the Europe market.
The space consists of a few
major players including Celgene Corporation, Janssen Biotech, Inc.,
Bristol-Myers Squibb Company, and Novartis AG. A large revenue share is
captured by Celgene Corporation with its high-performing drug, Revlimid. The
drug currently dominates the market with more than 50% share of the total
multiple myeloma therapeutics market.
Browse full research report on Multiple Myeloma Therapeutics Market:
www.grandviewresearch.com/industry-analysis/multiple-myeloma-therapeutics-market
Further Key
Findings from the Study Suggest:
- According to the National Cancer Institute, more
than 30,330 new cases of multiple myelomaare expected to register in 2016.
The number of new cases is expected to grow each year with the growing
geriatric population.
- Newly introduced drugs are expected to increase
the longevity of patients undergoing treatment for multiple myeloma, which
yields a high cumulative number of patients requiring treatment each year.
- In 2015, the chemotherapy and other drugs segment
dominated the global space with largest revenue share owing to lack of
effective alternative option.
- Chemotherapy and other drugs segment has been
sub-segmented into traditional chemotherapy, immunomodulating agents,
protea some inhibitors, HDAC inhibitors, and monoclonal antibodies.
- In 2015, immunomodulating agents drug class
captured the largest market share. Absence of comparable alternatives is
the prime factor driving the growth of the segment
- The newly introduced drugs belonging to the
classes HDAC inhibitors and monoclonal antibodies are expected to show the
fastest growth during the forecast period owing to the effectiveness and
safety of these drugs
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has
segmented the multiple myeloma therapeutics market by product and region:
Multiple Myeloma
Therapeutics Type Outlook (Revenue, USD Billion, 2014 - 2024)
- Chemotherapy and other drugs
- Traditional chemotherapy
- Immunomodulating agents
- Proteasome inhibitors
- Histone Deacetylase (HDAC) inhibitors
- Monoclonal antibodies
- Radiation
- Stem cell transplant and supportive treatments
Multiple Myeloma
Therapeutics Regional Outlook (Revenue, USD Billion, 2014 - 2024)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- Japan
- India
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- South Africa
Browse press release of this report
by Grand View Research: www.grandviewresearch.com/press-release/global-multiple-myeloma-therapeutics-market
About Grand View Research
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View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
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decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
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