Multiple Myeloma, the second most common type of malignant cancer first being Non-Hodgkin lymphoma, is a type of cancer which is formed due to the presence of malignant plasma cells in bone marrow. Due to the vigorous proliferation of highly abnormal, unstable cells circulating via the bloodstream and lymph nodes, this eventually results in the formation of cancer cells in bone marrow outnumbering the healthy blood cells and immunoglobulins.
The prevalence of Multiple Myeloma in the elderly population has contributed to the MYELOMA DRUG MARKET. It could be due to the demographic burden as the proportion of the geriatric population in the country will be greater compared to that of the millennials.
Myeloma incidence is strongly related to age, with the highest incidence rates being in older people.
According to the World Bank in 2018, the older population was about 16% of the total population in the U.S. But according to the United States Census Bureau the increasing microRNA therapeutics, nanomedicine platform emergence, high healthcare expenditure, healthcare facilities, favorable insurance, and reimbursement policies are some of the reasons behind accelerated Multiple MYELOMA Market. The advent of therapies and their augmented efficacy of prevalent therapies helps in increasing the life span of the patients thus making them dependable on those therapies for the rest of their lives.
The advancements in MM Drug market is happening at a good pace. The increase in research in chemotherapy, non-chemotherapy, corticosteroids, and stem cell transplantation. But the recent drug approvals and advancements have proven to be a relief to health care systems and patients. The Multiple Myeloma Pipeline is the most diverse when it comes to oncology. New drugs like Darzalex- a CD38 inhibitor licensed from Genmab AS, is being used with existing therapies including Revlimid, Velcade, and dexamethasone. Biopharma is highly investing in therapies to target B-cell maturation antigen (BCMA) - a cell surface receptor present on myeloma cell’s surface.
Celgene Corp.'s Revlimid (lenalidomide), at present is the topmost selling drug approved for multiple myeloma and will be at the top for long. The immunomodulatory agent Revlimid and Takeda Pharmaceutical Co. Ltd.'s proteasome inhibitor Velcade (bortezomib) – partnered with J&J have also been in the field as backbone therapies. Chimeric antigen receptor (CAR)-T cell therapies are under investigation for heavily-pretreated R/R multiple myeloma as well. With the addition of monoclonal antibodies and Histone Deacetylase (HDAC) inhibitors, the momentum for the drug market is being forecasted to hike soon. Elotuzumab which targets signaling-lymphocytic activation molecule F7 and Daratumumab which targets CD38 are approved monoclonal antibodies as a monotherapy and also with a combination of other drugs.
According to DelveInsight's recent MULTIPLE MYELOMA MARKET FORECASTS, in the United States, the lifetime risk of getting multiple myeloma is 1 in 143. About 30,770 new multiple myeloma cases were diagnosed (16,400 in men and 14,370 in women) in 2018 in the United States. Myeloma is the 19th most common cancer in the UK, accounting for 2% of all new cancer cases (approximately 5,540 new cases were diagnosed in 2015). On a worldwide scale, it is estimated that about 86,000 incident cases occur annually (47,000 males and 39,000 females), accounting for about 0.8% of all new cancer cases. About 63,000 subjects are reported to die from the disease each year (33,000 males and 30,000 females), accounting for 0.9% of all cancer deaths. North America is expected to lead in the multiple myeloma drugs market with the U.S. being the largest contributor. Asian countries are also expected to show some favorable growth as well.
While several therapies do exist, many new are on their way to get approved letting patients heave a sigh of relief.