PORTLAND, OR, April 11, 2023 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, worldwide mMultiple myeloma market collected $19.66 Arab in 2021 and is estimated to arise $53.52 billion By 2031, revealing a CAGR of 10.5% from 2022 to 2031. The report provides detailed analysis of market dynamics, key segments, value chains, competitive landscape, and changing regional landscape. This research provides valuable guidance to leading players, investors, shareholders, and startups to formulate strategies for sustainable growth and gain a competitive edge in the market.

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Report coverage and details:

Report coverage Details
Forecast period 2022–2031
base year 2021
Market size in 2021 $19.66 billion
Market size in 2031 $53.52 billion
CAGR 10.5%
Number of pages in the report 411
Sections covered Type of drug, end user, type of disease and region
Drivers An increase in the prevalence of multiple myeloma
Increase in government initiatives to treat multiple myeloma
Increase in the number of market players producing multiple myeloma drugs
opportunities Increase in the number of multiple myeloma drug launches and product approvals
Restrictions The high cost of treating multiple myeloma, including drugs, immunotherapy, radiation therapy, plasmapheresis, and stem cell transplants
Adverse effects of multiple myeloma drugs such as Kyprolis, Abecma, Velcade, and Ninlaro

the effect of COVID-19 In the Multiple Myeloma market:

  • The outbreak of COVID-19 had a negative impact on the global multiple myeloma market, with many clinical trials halted due to social distancing regulations. Moreover, shortage of medical professionals, shortage of funds, and lockdown have increased the number of patients who cannot receive timely treatment.
  • Furthermore, due to supply chain disruptions caused by the pandemic, fewer drugs were available to treat multiple myeloma.
  • Also, R&D activities were severely affected by the pandemic. Development of new treatments and cures for multiple myeloma also slowed.
  • However, the global market for multiple myeloma has already recovered in the post-pandemic period.

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The research provides detailed segmentation of the global multiple myeloma market on the basis of drug type, end user, disease type and region. The report discusses the segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

By drug type, the protease inhibitor segment contributed more than one-third of the global multiple myeloma market revenue and is projected to rule the roost by 2031. The same segment will also depict a rapid CAGR of 11.1% throughout the forecast period. Segments such as chemotherapy, monoclonal antibody and others are also studied in the report.

By end user, the hospital segment accounted for the highest share in 2021, accounting for nearly two-thirds of the global multiple myeloma market revenue and is expected to continue its leadership over the forecast period. The same segment, however, exhibits the fastest CAGR of 10.7% throughout the forecast period. Clinics and other segments were also evaluated in the study.

By disease type, the active multiple myeloma segment holds the largest share in 2021, accounting for more than four-fifths of the global multiple myeloma market and will dominate the market in terms of revenue during the forecast period. The same segment will also quote the fastest CAGR of 10.6% during the forecast period. The Smoldering Multiple Myeloma section is discussed in the report.

On the basis of region, North America accounted for the largest share in 2021, accounting for more than one-third of the global multiple myeloma market revenue and is expected to maintain its dominance through 2031. On the other hand, the Asia-Pacific region will exhibit the fastest CAGR. of 11.2% over the forecast period. Other regions studied in the report include Europe and Lamia.

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Major players of the global multiple myeloma market analyzed in the research include AbbVie Inc., Pfizer Inc., Novartis AG, Teva Pharmaceutical Industries, Johnson & Johnson, Sanofi, Bristol-Myers Squibb Company, Baxter International Inc., Takeda Pharmaceutical Company Ltd. and Amgen Inc.

The report provides a detailed analysis of these key players in the global multiple myeloma market. These players have adopted various strategies such as new product launches, collaborations, expansions, joint ventures, agreements, and others to increase their market share and maintain dominance in various sectors. The report is valuable in highlighting the strategic moves of market players to showcase business performance, product portfolios, operating segments, and competitive landscape.

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Allied Market Research (AMR) is the full-service market research and business-consulting arm of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides unmatched quality of “market research reports” and “business intelligence solutions” to global enterprises as well as medium and small businesses. AMR has a targeted approach to providing business insights and consulting to help its clients take strategic business decisions and achieve sustainable growth in their respective market domains. AMR provides its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Manufacturing & Manufacturing, Food & Beverage, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI. does

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