Multiple Myeloma Market Poised to Grow at a CAGR of 9.4% by 2024
Infinium Global Research has added a new report on Multiple Myeloma Market. The report presents analysis of global as well as regional markets of multiple myeloma market over the period of 2016 to 2024.
Multiple Myeloma is a type of cancer that is formed by malignant plasma cells. The normal plasma cells are mostly found in bone marrow and are thus an important part of the immune system. Multiple myeloma causes cancer cells to accumulate in the bone marrow, wherein they crowd out healthy blood cells. Rather than producing helpful antibodies, the cancer cells produce abnormal proteins that can cause complications.
Multiple Myeloma Drugs market was worth around XX million in 2017 and is anticipated to reach around XX million around 2024, in terms of revenue. Growing cases of plasma cancer across the globe due to exposure to harmful radiations or chemical, immune disorders or family history of the disease. Increased utilization of stem cell transplants and other new therapies. Also, development of novel drugs coupled with use of imaging technologies for disease assessment to augment the growth for the multiple myeloma drugs. These aforementioned factors are primarily responsible to drive the multiple myeloma drugs market. However, high treatment cost affects the multiple myeloma market, According to a study there is considerable population that is still not able to afford multiple myeloma cancer treatment. The development of new drugs and investment in research and development projects by government and non-government organizations is further expected to boost the market growth.
Among the regions, North America accounted for the dominant share in 2017. U.S primarily drives the North America multiple myeloma market, on account of presence of major multiple myeloma drugs manufacturing companies and their efforts in developing novel products to treat multiple myeloma cancer. Furthermore, factors such as increased healthcare infrastructure and improved healthcare reimbursement policies too are responsible to augment multiple myeloma drug market. Asia Pacific is expected to grow at the highest CAGR during the forecast period ,2018-2024 on account of huge population base, that in turn increases the chances of more number of people being affected with multiple myeloma market and increased government initiatives to assist people affected with cancer disease.
Moreover, the growth matrix presented by Infinium Global Research identifies the key investment markets in the near future, this will not only help the companies to understand the competitive position in the global multiple myeloma market but also make strategic decisions to capture the most lucrative markets in the near future. The market size is presented in terms of value for the historic year 2016 and estimated for forecast period of 2018-2024.
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The recent report identified that North America dominated the global multiple myeloma market over the last couple of years, while emerging markets of Asia-Pacific and Latin America are anticipated to contribute significantly to the growth in the multiple myeloma market worldwide.
The report segments the global multiple myeloma market on the basis of Drug Type and Distribution Channel.
Global Multiple Myeloma Market by Drug Type
· Immunomodulating Agents
· Proteasome Inhibitors
· Histone Deacetylase (HDAC) Inhibitors
· Monoclonal Antibodies
Global Multiple Myeloma Market by Distribution Channel
· Retail Pharmacy
· Hospital Pharmacy
· Online Channel
Companies Profiled in the Report
· Onyx Pharmaceuticals
· Bristol-Myers Squibb
· Johnson and Johnson
· Celgene Corporation
· Takeda Pharmaceuticals
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