What’s Driving Growth in the Multiple Myeloma Drugs Market? Insights into Key Trends and Opportunities
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What fueled the previous growth in the multiple myeloma drugs market?
The market for multiple myeloma drugs has witnessed robust expansion over the past years. Its increase, from $21.84 billion in 2024 to $23.25 billion in 2025, signifies a compound annual growth rate (CAGR) of 6.5%. Factors contributing to the growth during the historical period include enhancements in diagnosis, successful clinical trials, increased knowledge of the disease’s biology, upgrades to healthcare infrastructure, patient advocacy efforts, and heightened awareness.
What will be the multiple myeloma drugs market size in the future?
There is a prediction for robust expansion of the multiple myeloma drugs market in the coming years, with its size poised to hit $29.99 billion in 2029 at a compound annual growth rate (CAGR) of 6.6%. This anticipated surge in the forecast period is due to advancements in immunotherapy, the widening of targeted treatments, applications of liquid biopsy, the rise of car-t cell therapy, and the discovery of biomarkers. Over the forecast period, the primary trends include focusing on long-term survivorship, exploration of epigenetic therapies, a broader role for telemedicine, greater access to innovative treatments, and sustained efforts towards myeloma care.
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What main drivers are fueling expansion in the multiple myeloma drugs market?
The escalating incidence of blood cancers, such as leukemia, lymphoma and multiple myeloma is projected to push the growth of the multiple myeloma drugs market. Blood cancers originate in blood-forming tissue like the bone marrow or cells of the immune system. Medications for multiple myeloma are typically employed to combat various forms of myeloma, slowing the proliferation of cancer cells and inhibiting their growth by impeding cell division. These drugs also stimulate numerous enzymatic processes, support bone strength, and alleviate pain from deteriorating bone. For example, in January 2023, data from the American Cancer Society (ACS), an American health organization targeting cancer eradication, indicated around 59,610 leukemia diagnoses and specifically, 20,380 cases of acute myeloid leukemia (AML). Further, leukemia was responsible for approximately 23,710 deaths. Consequently, the rising incidence of blood cancers contributes significantly to the expansion of the multiple myeloma drugs market.
What key areas define the segmentation of the global multiple myeloma drugs market?
The multiple myeloma drugs market covered in this report is segmented –
1) By Drug Type: Immunomodulatory Drugs, Proteasome Inhibitors, Histone Deacetylase Inhibitors, Monoclonal Antibody Drugs, Steroids, Other Drug Types
2) By Therapy: Targeted Therapy, Biologic Therapy, Chemotherapy, Other Therapies
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Other Distribution Channels
4) By End-User: Men, Women
Subsegments:
1) By Immunomodulatory Drugs: Lenalidomide, Thalidomide, Pomalidomide
2) By Proteasome Inhibitors: Bortezomib, Carfilzomib, Ixazomib
3) By Histone Deacetylase Inhibitors: Panobinostat, Romidepsin
4) By Monoclonal Antibody Drugs: Daratumumab, Elotuzumab, Isatuximab
5) By Steroids: Dexamethasone, Prednisone
6) By Other Drug Types: Alkylating Agents, Antimetabolites, New Experimental Drugs
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Who are the dominant players expanding their reach in the multiple myeloma drugs market?
Major companies operating in the multiple myeloma drugs market include Pfizer Inc., Johnson & Johnson Pvt. Ltd, Merck & Co. Inc., AbbVie Inc., Bayer AG., Roche Holding AG, Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, GlaxoSmithKline Plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Kite Pharma Inc, Amgen Inc., AstraZeneca plc, Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Daiichi Sankyo Company, Daiichi Sankyo Co. Ltd., Lonza Group AG, Cipla Ltd., ONO Pharmaceutical Co. Ltd., BieGene Ltd., Biotest AG, Onyx Pharmaceuticals Inc., PharmaMar SA, Karyopharm Therapeutics Inc., Poseida Therapeutics Inc., ImmunoGen Inc., Oncopetides AB
How are evolving market trends shaping multiple myeloma drugs Strategies?
Product innovation is emerging as a significant trend in the multiple myeloma drugs market. Dominant companies in this market are concentrating on bringing about innovative products to reinforce their market position and attain competitive advantage. For instance, in March 2022, Janssen Biotech Inc., a biotechnology enterprise based in Japan, gained approval from the United States Food and Drug Administration for Carvykti, a CAR T-cell therapy (a form of personalized immunotherapy) for multiple myeloma. CARVYKTI (ciltacabtagene autoleucel) is an autologous cell-based product, genetically altered and comprised of T cells transduced ex vivo with a replication-incompetent lentiviral vector. This vector encodes an anti-B cell maturation antigen (BCMA), a chimeric antigen receptor (CAR), made of two single domain antibodies attached to a 4-1BB costimulatory domain and a CD3-zeta signaling domain. This therapy is designed to treat patients with relapsed conditions who have undergone four or more therapeutic lines, including treatments encompassing three critical types of multiple myeloma medications like an immunomodulating agent, a proteasome inhibitor, and an anti-CD38 monoclonal antibody.
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Which regions are emerging as leaders in the multiple myeloma drugs market?
North America was the largest region in the multiple myeloma drugs market in 2024. The regions covered in the multiple myeloma drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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