The market for myeloma therapy will grow to $8.9 billion in 2021

In a recent report, foreign business intelligence agency GBIResearch pointed out that the global market for multiple myeloma therapy will increase from 7.3 billion US dollars in 2014 to 8.9 billion US dollars in 2021. The compound annual growth rate (CompoundAnnualGrowthRate, CAGR) is mild, at 4.6. %.

GBIResearch reports that the growth of the multiple myeloma therapy market is mainly in the following eight regional markets, namely the United States, the United Kingdom, France, Germany, Italy, Spain, Japan, and Canada. The driving factors for growth are mainly the aging of the population. And the continual increase in the incidence rate.

Drugs currently on the market, such as Celgene's Revlimid, have annual sales of $4.9 billion. With the approval of new drugs, the market for multiple myeloma therapy will be complemented, providing patients with alternative improved therapies and, to a certain extent, promoting market growth in this therapeutic segment.

Promising drug candidates include late-stage oral drug ixazomib from Takeda, filanesib from American new drug research company ArraryBiopharma, elotuzumab from BMS/AbbVie, and daratumumab from Janssen.

Yasser Mushtaq, a senior analyst from GBIResearch, said that although multiple myeloma is still incurable, people have a deeper understanding of the mechanism at the level of cellular and molecular biology, and have promoted research progress in innovative therapies in this therapeutic field. The clinical results are significantly improved.

Some drugs in the late development pipeline will not have a significant impact on the overall market, and some drugs have shown promising clinical trial results in a particular patient population, including elotuzumab from BMS/AbbVie and daratumumab from Janssen. These drugs are expected to provide patients with more choices in therapy. However, various market barriers (such as a limited number of target patients) will limit further growth in the multiple myeloma therapy market.

Mushtaq explained that on the one hand, multiple myeloma is identified as orphan disease because of its rarity, and the number of patients is limited to a certain extent, hindering the potential growth of the market in this field. On the other hand, expensive drug development costs have slowed the pace of pharmaceutical companies investing in this therapeutic area. However, the government's encouragement for the development of multiple myeloma drugs, drugs from other therapeutic areas for multiple myeloma, can promote the development of this therapeutic field to some extent.