Updated on 21 August 2015
Global multiple myeloma treatment market value will expand from USD7.3 billion in 2014 to USD8.9 billion by 2021
Singapore: Global multiple myeloma treatment market value will expand from $7.3 billion in 2014 to $8.9 billion by 2021, representing a moderate compound annual growth rate (CAGR) of 4.6 percent, according to analysis provider GBI Research.
According to the analysis, the growth will occure in markets of US, UK, France, Germany, Italy, Spain, Japan and Canada, driven primarily by rising multiple myeloma prevalence as a result of an aging population.
Additionally, approvals during the forecast period for drugs that will supplement current market leaders, such as Revlimid, and offer improved therapeutic options, mainly in the relapsed/refractory setting, will also boost the market. Promising examples include ixazomib, ARRY-520 (filanesib), elotuzumab and daratumumab.
Mr Yasser Mushtaq, senior analyst, GBI Research, said, "Although multiple myeloma remains incurable, greater understanding of its underlying cellular and molecular biology has driven novel therapy development, with clinical outcomes improving significantly as a result.
"While some late-stage pipeline drugs will have a low impact, others have demonstrated promising clinical results in specific patient populations, including elotuzumab and daratumumab. These products are therefore likely to provide physicians with increased choice and complexity in multiple myeloma treatment over the forecast period."