The "Multiple Myeloma Market Size and Share Analysis - Growth Trends and Forecast Report 2025-2033" report has been added to ResearchAndMarkets.com's offering.

The Global Multiple Myeloma Market was valued at USD 21.78 billion in 2024 and is expected to reach USD 40.41 billion by the year 2033, at a CAGR of 7.11% during the forecast period from 2025 to 2033

The growth of the market is fueled by the increasing number of multiple myeloma cases, developments in targeted therapies, and the expanding use of immunotherapies. Increased oncology research, enhanced diagnostic methodologies, and the increasing availability of healthcare facilities are further adding to market growth.

The therapies for multiple myeloma are chemotherapy, immunotherapy, target therapies, corticosteroids, and stem cell transplants. Increasing advancements in monoclonal antibodies and CAR-T cell therapy are enhancing outcomes among patients, and these therapies are becoming more popular globally.

With increasing awareness of cancer and better diagnosis methods, multiple myeloma therapies are becoming increasingly popular in the U.S., Europe, and Asia-Pacific. Pharmaceutical industries are heavily investing in new drug development, and governments are also funding cancer research, further propelling treatment availability. Consequently, the multiple myeloma market continues to grow, bringing new hope to patients worldwide.

Drivers of Growth in the Multiple Myeloma Market

Improvements in Targeted Therapies

The emergence of targeted therapies like monoclonal antibodies and proteasome inhibitors has considerably enhanced treatment efficacy for multiple myeloma patients. These treatments have greater efficacy with less side effect than conventional chemotherapy. With continued research in immunotherapy and CAR-T cell therapy, more effective therapies are being made available, and patient survival is on the rise.

Consequently, drug companies are investing heavily in drug development, further fueling market growth. Dec 2024, Merck reported that the FDA has accepted for filing the Biologics License Application for clesrovimab (MK-1654), a long-acting monoclonal antibody to help protect infants from RSV in their first RSV season.

Increasing Prevalence of Multiple Myeloma

The worldwide prevalence of multiple myeloma is on the rise, especially among the elderly. Genetic susceptibility, exposure to toxic chemicals, and lifestyle changes are factors that lead to an increased incidence of the disease. As more and more cases are being diagnosed yearly, the need for effective treatment options is on the rise.

This has driven governments and health organizations to invest more in multiple myeloma research and the availability of treatments, driving market growth. There were about 35,000 cases of MM in 2021 globally, with the most in China and Germany, with 47,003 and 32,010 cases, respectively. In 2021, Europe boasted the highest ASIR and ASPR, and North America the highest ASMR and DALYs.

Increasing Healthcare Spending and Awareness

Rising healthcare spending in developed and emerging economies is contributing positively towards the multiple myeloma market. Governments and private bodies are initiating awareness campaigns and screening programs to encourage early detection and timely treatment.

Patients now enjoy improved access to new therapies through reimbursement schemes and insurance coverage, also driving the adoption of treatments. With increasing numbers of hospitals and clinics incorporating advanced oncology treatments, the multiple myeloma market is set to see significant growth.

Issues in the Multiple Myeloma Market

Exorbitant Cost of Therapy

Immunotherapies and targeted agents used in treating multiple myeloma are costly, hence unavailable to most patients, particularly those in developing areas. Bone marrow transplants and maintenance therapy costs further increase the burden. In spite of availability of reimbursement schemes in certain countries, affordability becomes a serious concern, limiting the growth of the market.

Side Effects and Therapy Resistance

In spite of the progress in treatment, patients tend to develop resistance to current therapies with time, which requires frequent modification of treatment regimens. Moreover, most therapies have serious side effects, such as infections, tiredness, and organ injury, which lower the quality of life for patients. These issues propel the necessity for ongoing research and innovation in treatment methods.

Key Players Analyzed: Overview, Key Persons, Recent Developments, Product Portfolio, Revenue

• Novartis AG
• Abbvie Inc.
• Sanofi
• Johnson and Johnson
• Baxter International Inc.
• Pfizer Inc.
• Takeda Pharmaceutical Company Ltd
• Bristol-Myers Squibb Company

Key Attributes:

Key Topics Covered:

1. Introduction

2. Research & Methodology

3. Executive Summary

4. Market Dynamics

4.1 Growth Drivers

4.2 Challenges

5. Global Multiple Myeloma Market

6. Market Share Analysis

6.1 By Drugs Types

6.2 By Disease Types

6.3 By End User

6.4 By Country

7. Drugs Types

7.1 Chemotherapy

7.2 Protease Inhibitors

7.3 Monoclonal Antibody

7.4 Others

8. Disease Types

8.1 Active multiple myeloma

8.2 Smoldering multiple myeloma

9. End User

9.1 Hospitals

9.2 Clinics

9.3 Others

10. Countries

10.1 North America

10.1.1 United States

10.1.2 Canada

10.2 Europe

10.2.1 France

10.2.2 Germany

10.2.3 Italy

10.2.4 Spain

10.2.5 United Kingdom

10.2.6 Belgium

10.2.7 Netherlands

10.2.8 Turkey

10.3 Asia-Pacific

10.3.1 China

10.3.2 Japan

10.3.3 India

10.3.4 Australia

10.3.5 South Korea

10.3.6 Thailand

10.3.7 Malaysia

10.3.8 Indonesia

10.3.9 New Zealand

10.4 Latin America

10.4.1 Brazil

10.4.2 Mexico

10.4.3 Argentina

10.5 Middle East & Africa

10.5.1 South Africa

10.5.2 Saudi Arabia

10.5.3 United Arab Emirates

11. Porter's Five Forces Analysis

11.1 Bargaining Power of Buyers

11.2 Bargaining Power of Suppliers

11.3 Degree of Competition

11.4 Threat of New Entrants

11.5 Threat of Substitutes

12. SWOT Analysis

12.1 Strength

12.2 Weakness

12.3 Opportunity

12.4 Threats

13. Key Players Analysis

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