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The global multiple myeloma market size is expected to grow from $21.88 billion in 2022 to $23.84 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The multiple myeloma market is expected to reach $32.18 billion in 2027 at a CAGR of 7.8%.

Multiple myeloma is a cancer that appears in a type of white blood cell called a plasma cell. Cancerous plasma cells build up in the bone marrow and crowd out healthy blood cells in multiple myeloma. Cancer cells produce abnormal proteins that may cause problems rather than helpful antibodies.

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Multiple Myeloma Market Driver
The increasing prevalence of multiple myeloma is expected to propel the growth of the multiple myeloma market going forward. Multiple myeloma is a cancer that appears in a type of white blood cell called a plasma cell. The increase in multiple myeloma is due to age, genetics, obesity, radiation exposure, and other conditions. Multiple myeloma treatment slows its spread and makes symptoms go away. For instance, according to the American Cancer Society, a US-based voluntary health organization, the number of new cases of multiple myeloma increased to 35,730 in 2023 from 34,470 in 2022. Therefore, the increasing prevalence of multiple myeloma is driving the growth of the multiple myeloma market.

Multiple Myeloma Market Trends
Product innovation is a key trend gaining popularity in the multiple myeloma market. Major companies operating in the multiple myeloma market are developing innovative products to sustain their position in the market. For instance, in October 2022, Janssen Pharmaceutical Companies of Johnson & Johnson, a Belgium-based pharmaceutical company, received approval for TECVAYLI (teclistamab-cqyv), the first bispecific T-cell engager antibody from the US Food and Drug Administration (FDA). The drug is indicated for treating adult patients with multiple myeloma who have had at least four prior lines of therapy, including proteasome inhibitors, immunomodulatory drugs, and monoclonal antibodies against CD38. It acts by targeting the B-cell maturation antigen (BCMA), which is expressed on the surface of some healthy B-lineage cells and the CD3 receptor expressed on the surface of T-cells and multiple myeloma cells.

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Major Players And Regions Of The Multiple Myeloma Market
Major players in the multiple myeloma market are Pfizer Inc., Johnson & Johnson Private Limited, F. Hoffmann-La Roche Ltd., Merck & Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca plc, Abbott Laboratories, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Amgen Inc., Janssen Global Services LLC, Celgene Corporation, Mylan N.V., Biogen Inc., Cipla Inc., Sun Pharmaceutical Industries Ltd., CRISPR Therapeutics AG, Karyopharm Therapeutics Inc., Fate Therapeutics Inc., Atara Biotherapeutics Inc., Allogene Therapeutics Inc., C4 Therapeutics Inc., Adaptimmune Therapeutics plc, and Precision Biosciences Inc.

North America was the largest region in the multiple myeloma market in 2022.

Multiple Myeloma Market Segmentation By The Business Research Company
The global multiple myeloma market is segmented –
1) By Treatment: Medications, Radiation Therapy, Stem Cell Transplant, Other Treatments
2) By Diagnosis: Blood Tests, Bone Marrow Biopsy, Urine Tests, Imaging Tests
3) By Disease Type: Active Multiple Myeloma, Smoldering Multiple Myeloma
4) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Other Channels

The Table Of Content For The Multiple Myeloma Market Include:
1. Multiple Myeloma Market Executive Summary
2. Multiple Myeloma Market Segments
3. Multiple Myeloma Market Size And Multiple Myeloma Market Growth Rate
4. Key Multiple Myeloma Market Trends
5. Major Multiple Myeloma Market Drivers
……
25. Key Mergers And Acquisitions In The Multiple Myeloma Market
26. Top Multiple Myeloma Companies
27. Multiple Myeloma Market Opportunities And Strategies
28. Multiple Myeloma Market, Conclusions And Recommendations
29. Appendix

The Multiple Myeloma Market Global Market Report 2023 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the multiple myeloma market.

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