Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Multiple Myeloma Therapy market likely to propagate by the increase in demand for Multiple Myeloma Therapy for treatment of cancer
Global Multiple Myeloma Therapy market projected to grow with a significant rate during the forecast period, 2020-2027. It is on account of the growing prevalence of blood cancer across the world. Additionally, the growth in the aging population, mounting obese population, increase in healthcare expenditure, and augmented penetration of novel cancer drugs will influence the global multiple myeloma therapy market in the next few years. Multiple myeloma is often convoyed by multiple osteolytic lesions, hypercalcemia, anaemia, and kidney damage.
Moreover, the surge in disposable income and high adoption of the newer therapies would estimate to boost the global Multiple myeloma therapy market in the future periods. Multiple myeloma is caused by malignant proliferation of monoclonal plasma cells, extensive infiltration, and secretion of a large amount of monoclonal immunoglobulin (M protein), which causes extensive bone destruction, repeated infections, anaemia, and hypercalcemia, Hyperviscosity syndrome and renal insufficiency, a series of clinical manifestations of blood system malignant diseases. It is found more common in middle-aged and elderly people.
Furthermore, application of bisphosphonates can reduce skeletal complications, the use of drugs that stimulate blood cell production (growth factors) can increase the number of red blood cells and white blood cells, and the use of better painkillers can also significantly improve quality of life. In addition, the development of newer therapies, including monoclonal antibodies and Histone Deacetylase (HDAC) inhibitors, projected to trigger the global multiple myeloma therapy market in the future time. Moreover, the growing adoption of therapies over traditionally used drugs, including high cell specificity in targeting cancer cells, will boom the global multiple myeloma therapy industry in the forecast period.
Therapy Type Overview in the Global Multiple Myeloma Therapy market
Based on therapy type, the global Multiple Myeloma Therapy market classified into Chemotherapy and Other Drugs (Traditional Chemotherapy, Immunomodulating Agents, Proteasome inhibitors, Histone Deacetylase (HDAC) inhibitors, and Monoclonal Antibodies), Radiation, and Stem Cell Transplant & Other Supportive Treatments. The Chemotherapy and Other Drugs segment will lead the market by 2027 on account of its help to destroy or control cancer cells. Chemotherapy and Other Drugs can be given in a vein or a muscle or taken by mouth after entering in the bloodstream and reach almost all areas of the body.
End-User Overview in the Global Multiple Myeloma Therapy market
Based on end-user, the global Multiple Myeloma Therapy market classified into Hospitals, Clinics, Pharmacy stores, and others. Hospitals segment expected to generate maximum revenue by 2027 due to the increase in the number of aging populations in developing countries along with innovations and advancements in the healthcare industry and financial aids by governments in R&D.
Regional Overview in the Global Multiple Myeloma Therapy market
By geography, the Global Multiple Myeloma Therapy market segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America predicted to generate maximum revenue by 2027, owing to the rising disposables income level, improving health care awareness levels along with the surge in demand for Multiple Myeloma Therapy for the aging population.
Global Multiple Myeloma Therapy market: Competitive Landscape
Companies such as Revlimid, Pomalyst. Janssen Biotech, Inc., Bristol-Myers Squibb Company, Novartis AG, Millennium Pharmaceuticals, Amgen, Inc., Genzyme Corporation, Juno Therapeutics, Celgene Corporation, Johnson and Johnson, AbbVie Inc., Innate Pharma, and Celldex Therapeutics, Inc are the key players in the Global Multiple Myeloma Therapy Market.