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Industrial Analysis of Multiple Myeloma Drugs MarketMultiple myeloma is a type of blood cancer that forms in plasma cells. Plasma cells are an important part of a person’s immune system, as they make antibodies that help fight infections.
Multiple myeloma is the second most common haematological cancer. In the year 2016, there were about 130,000 cases of multiple myeloma globally. In the same year, approximately 98,000 deaths were caused by multiple myeloma. The incidence of multiple myeloma is increasing across the globe.
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One of the major factors to drive the growth of the multiple myeloma drugs market is the approval of new drugs for the treatment of this type of cancer. For instance, in March 2019, the National Institute for Health and Care Excellence (NICE) approved Daratumumab in combination with bortezomib and dexamethasone, for the treatment of multiple myeloma. In 2016, the U.S. FDA approved the use of daratumumab in combination with dexamethasone and lenalidomide, or dexamethasone and bortezomib, for multiple myeloma patients who have received at least one prior therapy.
In Feb 2019, Sanofi, another leading pharmaceutical company, has declared the results of Phase III studies for its anti-CD38 therapy, isatuximab. The results revealed that the drug candidate helped in extending progression-free survival in patients with multiple myeloma.
However, most of the drugs used for the treatment of multiple myeloma are nearing patent-expiry. For instance, Celgene Corporation’s Revlimid is slated to lose its patent exclusivity at the end 2019. The looming threat of patent expiry of these drugs is expected to impede the growth of the multiple myeloma drugs market.
Top Company Profiles:
The major players operating in the multiple myeloma drugs market are Bristol-Myers Squibb, Celgene Corporation, Janssen Biotech, Inc., Novartis AG (Switzerland), Genzyme Corporation, Amgen, Inc., and Millennium Pharmaceuticals, amongst others.
Most of these companies are directing their efforts towards launching combination therapies for the treatment of multiple myeloma. Celgene is one of the leading players in the multiple myeloma drugs market. It has one drug in Phase III and five drugs is Phase II clinical trials for the treatment of relapsed/refractory multiple myeloma.
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Recent News of Multiple Myeloma Drugs Market:
• In 2016, AbbVie and Bristol-Myers Squibb announced the EU approval of Empliciti™ (elotuzumab) for the treatment of adult multiple myeloma patients who have received at least one prior therapy. Empliciti™ (elotuzumab) has been approved for use in combination with dexamethasone and lenalidomide.
• In March 2018, Celgene Corporation completed the acquisition of Juno Therapeutics, Inc. This acquisition will position Celgene as a leading cellular immunotherapy company.
• In January 2019, Bristol-Myers Squibb has announced its plan to acquire Celgene Corporation for a whopping US$ 74 billion. The deal is expected to be completed by the third quarter of 2019.
Key questions answered:
• What is the value of the overall multiple myeloma drugs market and its segments?
• What is the value of the key segments and sub-segments in the multiple myeloma drugs market?
• Which are the attractive segments and geographies for investment?
• Who are the major players in the multiple myeloma drugs market and what are the key sustainable strategies of growth adopted by these players?
• What are the key unmet needs in major multiple myeloma drugs market?
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