SAN FRANCISCO, November 29, 2016 /PRNewswire/ --
The global multiple myeloma therapeutics market was valuedat USD 7.5 billion in 2015 and is expected to reach a value of USD 37.5 billion by 2024. Key factors driving the market expansion include constant introduction of newer and effective therapeutic
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This space is expected to gain momentum with the addition of novel drugs to the current therapeutics array with monoclonal antibodies and Histone Deacetylase (HDAC) inhibitors. Due to failed outcomes of the currently available medication, there is a high demand for effective treatment strategies to offset therapeutic dissatis faction and increase life expectancies of patients; which in turn is expected to boost the research and development of improved therapies for multiple myeloma.
Growing prevalence of the disease along with the surging elderly population is the prime factor expected to drive the growth significantly during the forecast period. Complications involved in treating geriatric patients are driving the demand for supportive treatments such as restoration procedures involving transfusion of blood components and point of care technologies.
The U.S, followed by Europe, has been dominating the market owing to the presence of major players in these regions, faster approval rates, and favorable healthcare policies. Higher prevalence of multiple myeloma in the developed economies is a pivotal determinant driving the growth of the Europe market.
The space consists of a few major players including Celgene Corporation, Janssen Biotech, Inc., Bristol-Myers Squibb Company, and Novartis AG. A large revenue share is captured by Celgene Corporation with its high-performing drug, Revlimid. The drug currently dominates the market with more than 50% share of the total multiple myeloma therapeutics market.
Browse full research report with TOC on "Multiple Myeloma Therapeutics Market Analysis, By Therapy Type (Chemotherapy And Other Drugs, Radiation, Stem Cell Transplant, Other Supportive Treatments), And Segment Forecasts, 2014 - 2024" at: http://www.grandviewresearch.com/industry-analysis/multiple-myeloma-therapeutics-market
Further Key Findings from the Study Suggest:
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Grand View Research has segmented the multiple myeloma therapeutics market by product and region:
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