The Asia-Pacific Multiple Myeloma Therapeutics Market was worth $1.37 billion in 2016 and estimated to be growing at a CAGR of 5.5%, to reach $1.79 billion by 2021. Due to increase in geriatric population in the countries like China and India, Asia-Pacific is expected to witness highest growth rate in the forecast period.
Multiple myeloma remains comparatively rare, it is a deceptive disease and patients typically deplete treatment alternatives. Myeloma and MGUS are twice as common in blacks paralleled with whites and marginally more common in males than females.
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The growth of multiple myeloma therapeutics market will largely be driven by the development of novel therapeutics that have considerably improved clinical outcomes through all stages of the disease, as well as the absence of standard competition in countries like China, Japan and Australia. Evolving multiple myeloma therapies are probable to offer choices in the lapsed or refractory disease setting, in both the second and third lines of treatment, additionally enhancing APAC market growth. High cost associated with treatment of the disease is expected to restrain the market growth.
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The Asia-Pacific Multiple Myeloma Therapeutics Market is segmented on the basis of Treatment Type into Chemotherapy which is further segmented into Anthracycline Antibiotic (Melphalan (Alkeran), Liposomal doxorubicin (Doxil)) and Alkylating agent (Doxorubicin (Adriamycin), Cyclophosphamide (Neosar), Vincristine (Oncovin), Carmustine (BiCNU)) and Targeted Therapy ( Proteasome Inhibitor (Bortezomib (Velcade), Carfilzomib (Kyprolis)), by Drug Type into Corticosteroids (Dexamethasone (Decadron), Prednisone (Deltasone/Orasone)) and Immunomodulatory Agents (Thalidomide (Thalomid), Lenalidomide (Revlimid), Arsenic trioxide (Trisenox), Plerixafor (Mozobil)). With the advancement in technology targeted therapy is on a high growth due to its advantages over chemotherapy such as lesser side effects.
Based on geography the market is analysed under various regions namely, China, India, Japan, South Korea and Australia. Australia and Japan are most likely to increase in the forecast period due to rising number of myeloma cases in the region.
Some of the key contributors in the industry include AB Science SA, AbbVie Inc., Ablynx NV, Acceleron Pharma Inc., IGF Oncology LLC. , ImmunGene Inc., Millennium Pharmaceuticals Inc., MimiVax LLC, Mirna Therapeutics, RedHill Biopharma Ltd., Rhizen Pharmaceuticals S.A., Terpenoid Therapeutics Inc. ,Teva Pharmaceutical Industries Ltd. ,TG Therapeutics Inc. and Johnson and Johnson.
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Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and skillset dedicatedly serve clients from various industries and regions.