Multiple Myeloma Drug Market Projected to Reach $9 Billion by 2021


Clinical outcomes expected to continue improving as new treatments arrive.

Clinical outcomes expected to continue improving as new treatments arrive.

The treatment market for multiple myeloma is projected to experience significant growth by the end of the decade, according to a recent report.

Business intelligence provider GBI Research projects the global multiple myeloma treatment market value to jump from $7.3 billion last year to $8.9 billion by 2021. This increase represents a moderate Compound Annual Growth Rate (CAGR) of 4.6%, according to GBI.

The spending growth is projected to occur across the major markets of the United States, United Kingdom, France, Germany, Italy, Spain, Japan, and Canada. The main culprit of the growth is expected to be primarily a result of increased multiple myeloma prevalence in an aging population, GBI noted.

Current multiple myeloma treatment market leaders, including Revlimid, may be supplemented by improved treatment options, specifically in the relapsed/refractory setting, according to GBI. Among these promising treatments are ixazomib, ARRY-520 (filanesib), elotuzumab, and daratumumab.

“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,” said GBI senior research analyst Yasser Mushtaq. “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.”

Mushtaq added his belief that multiple barriers, including a limited target patient population, will inhibit further growth across the multiple myeloma treatment landscape through 2021.

“Multiple myeloma’s rarity and designation as an orphan disease limits the available treatment population, in turn hindering the potential revenues that can be generated from this indication,” he said. “This, combined with high drug development costs, can deter manufacturers from investing in this area.

"On the other hand, incentives for orphan disease drug development, along with the ability to reposition drugs from one indication to another, could help to counter these challenges and drive further research into multiple myeloma treatment.”

Related Videos
lymphoma, OPC, ASCO 2024, hodgkin lymphoma
male pharmacist using digital tablet during inventory in pharmacy | Image Credit: sofiko14 -
Pharmacist holding medicine box in pharmacy drugstore. | Image Credit: I Viewfinder -
Pharmacy Drugstore Checkout Cashier Counter | Image Credit: Gorodenkoff -
Medicine tablets on counting tray with counting spatula at pharmacy | Image Credit: sutlafk -
Capsules medicine and white medicine bottles on table | Image Credit: Satawat -
Human cell or Embryonic stem cell microscope background | Image Credit: Anusorn -
Concept of health care, pharmaceutical business, drug prices, pharmacy, medicine and economics | Image Credit: Oleg -
© 2024 MJH Life Sciences

All rights reserved.