The Europe Multiple Myeloma Market would witness market growth of 9.1% CAGR during the forecast period (2023-2029).
An increase in R&D activity is contributing to expanding the multiple myeloma market. The growth of the multiple myeloma market will benefit from these opportunities. In addition, an increase in the number of drugs that are both released and approved will further propel the growth rate of the market. Monoclonal antibodies (mAbs), like Empliciti and Darzalex, will act as a major opportunity for the market's growth because they will not only give patients with multiple myeloma a new therapeutic option, but they will also help patients experience fewer relapses, extending the effectiveness of Revlimid and Velcade treatments.
In addition, these patients will also have access to Kyprolis and Ninlaro, two second-generation protease inhibitors, broadening their treatment options. This will affect the market and industry, currently dominated by the proteasome inhibitor Velcade and the immunomodulator Revlimid. Also, growing investments in cutting-edge technologies and a rise in new markets will create more favorable conditions for expanding the multiple myeloma market over the forecast period.
The prevalence of multiple myeloma has been continuously rising in Germany over the past few years, which has increased the demand for cutting-edge therapies. The prevalence of multiple myeloma is higher in older persons, and as Germany's population ages, there will likely be greater demand for medicines for the disease. The market is expanding due to substantial developments in creating novel treatments for multiple myelomas, such as immunomodulatory medicines and monoclonal antibodies. The German healthcare system offers advantageous reimbursement rules for cancer therapies, including medications for multiple myeloma, which is assisting in the market's expansion.
The Germany market dominated the Europe Multiple Myeloma Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $2,529.5 Million by 2029. The UK market is anticipated to grow at a CAGR of 8.2% during (2023 - 2029). Additionally, The France market would exhibit a CAGR of 9.9% during (2023 - 2029).
Based on End User, the market is segmented into Hospitals, Clinics, and Others. Based on Disease Type, the market is segmented into Active Multiple Myeloma and Smoldering Multiple Myeloma. Based on Drug Type, the market is segmented into Protease Inhibitors, Monoclonal Antibody, Chemotherapy and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Multiple Myeloma Market is Projected to reach USD 37.5 Billion by 2029, at a CAGR of 9.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Novartis AG, Bristol Myers Squibb Company, Amgen, Inc., AbbVie, Inc., Sanofi S.A., Johnson & Johnson, Baxter International, Inc., Takeda Pharmaceutical Company Limited, Teva Pharmaceuticals Industries Ltd., and Pfizer, Inc.
By End User
By Disease Type
By Drug Type
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