Multiple Myeloma Therapeutics Market Industry Analysis, Size, Growth, Trends and Demand 2020

From: Transparency Market Research
Published: Fri Oct 12 2018

Multiple myeloma is a blood disorder related to leukemia and lymphoma, since it generally arises in bone marrow. In multiple myeloma, certain white blood cells (WBCs) begin to proliferate abnormally within the bone marrow. These cells are known as plasma cells. Plasma cells are responsible for manufacturing antibodies in the body that help fight against any infection. In multiple myeloma, excessive plasma cells release abnormal level of proteins in blood and bones. These excess levels of proteins accumulate throughout the body, and result in damaging organs.

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The plasma cells while multiplying, create problems inside bones and crowd out healthy blood cells. Chemicals are released by proliferating myeloma plasma cells that result in dissolving bone. Due to this, bones become weak and this is known as lytic lesions. Constant rise in number of these plasma cells in bone marrow, results in spill out from the bone and start depositing in other body part causing organ damage.

Multiple myeloma majorly affects bone, blood and kidney. Patients suffering from multiple myeloma usually show various symptoms such as bone pain, loss of appetite, fatigue and increased urination. Various tests are performed in order to confirm the disease that includes blood tests, urine tests and bone marrow tests. Blood tests include beta-2 microglobulin level test, complete blood count, serum protein electrophoresis, freelite testing and immunofixation electrophoresis. Urine tests include urine protein electrophoresis and measurement of Bence Jones protein. Bone marrow tests include imaging through different imaging modalities such as X-ray, cytogenetic analysis, and plasma cell labeling index test.

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Till date there is no cure for multiple myeloma, however, various treatments are efficient in slowing down the progression of disease. Initial therapy to treat the disease is known as induction therapy. This is followed by stem cell transplantation (SCT). In stem cell transplantation, patient’s stem cells are extracted with the help of machine and are frozen and stored. Then these cells are transplanted into the patient body. Chemotherapy is also performed on the patients that include uptake of various drugs such as Adriamycin, Alkeran, Cytoxan, Oncovin, Pomalyst, Revlimid, Thalomid and Velcade.

The market for multiple myeloma therapeutics is expected to grow with rising incidences of the disease amongst population. The American Cancer Society (ACS) has estimated that by the end of 2014, nearly 24,050 new cases of multiple myeloma will be diagnosed in the U.S. Multiple myeloma is common amongst men than in women and also occurs frequently with increasing age. Hence, rise in geriatric population across the globe will undoubtedly augment the growth of multiple myeloma therapeutics market during the study period. The World Health Organization (WHO) has estimated that by 2050, nearly 2,000 million people will belong to geriatric population.

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North America accounted for the largest share by revenue in 2013 of global multiple myeloma therapeutics market. This is due to the fact that majority of the key manufacturers of multiple myeloma therapeutics are based out of North America. Owing to aging population in countries such as Japan, India and China, Asia-Pacific is expected to grow at the fastest CAGR during the period 2014 to 2020. The major players operating in the market include Celgene Corporation and Johnson and Johnson among other significant players.

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