The Worldwide Multiple Myeloma Market is Projected to reach USD 37.5 Billion by 2029, at a CAGR of 9.8%

Published Date: 26-May-2023

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Multiple Myeloma Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Multiple Myeloma Market size is expected to reach $37.5 billion by 2029, rising at a market growth of 9.8% CAGR during the forecast period.

The Clinics segment is showcasing a CAGR of 10.2% during (2023 - 2029). Although clinics are smaller than hospitals, they provide more services than a typical doctor's office. For example, many clinics provide healthcare services like X-rays, MRIs, and other imaging scans, lab testing, bloodwork, outpatient procedures, specialty care for certain medical conditions, regular physical exams, stitches for minor injuries, and chemotherapy or radiation for cancer patients. The availability of all supporting diagnostics aids in increasing their accessibility to patients, who then prefer clinics more. This factor is promoting the expansion of the segment.

The Active Multiple Myeloma segment acquired maximum revenue share in the Global Multiple Myeloma Market by Disease Type in 2022 thereby, achieving a market value of $29.6 billion by 2029. The segment's growth can be attributed to the rise in multiple myeloma prevalence and public awareness of malignancy. The presence of symptoms or indications that the malignancy has affected the organs indicates active myeloma. A patient with active multiple myeloma will probably have a worsening illness, including fatigue or bone discomfort. In addition, they could be anemic, experience bleeding issues, or have several infections.

The Protease Inhibitors segment is generating highest revenue share in the Global Multiple Myeloma Market by Drug Type in 2022 thereby, achieving a market value of $15.5 billion by 2029. The increase in product approval and product launches for protease inhibitors for the multiple myeloma treatment is responsible for the segment's growth. Recently, the FDA approved bortezomib (Velcade), previously known as PS-341, as the first protease inhibitor for the therapy of relapsed/refractory and newly diagnosed multiple myeloma (MM).

The North America market dominated the Global Multiple Myeloma Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $14.3 billion by 2029. The Asia Pacific market is experiencing a CAGR of 10.8% during (2023 - 2029). Additionally, The Europe market would display a CAGR of 9.1% during (2023 - 2029).

Full Report:

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.

Global Multiple Myeloma Market Segmentation

By End User

  • Hospitals
  • Clinics
  • Others

By Disease Type

  • Active Multiple Myeloma
  • Smoldering Multiple Myeloma

By Drug Type

  • Protease Inhibitors
  • Monoclonal Antibody
  • Chemotherapy
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • 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.
  • Pfizer, Inc.

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Related Reports:

North America Multiple Myeloma Market size & Opportunities 2023-2029

Europe Multiple Myeloma Market & Growth Forecast 2023-2029

Asia Pacific Multiple Myeloma Market Share & Industry Outlook to 2029

LAMEA Multiple Myeloma Market Growth, Trends & Forecasts 2023-2029

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