Moderate growth rate expected for global multiple myeloma market

The global multiple myeloma treatment market value will expand from $7.3 billion in 2014 to $8.9 billion by 2021, representing a moderate compound annual growth rate (CAGR) of 4.6%, according to new research.

Business intelligence provider GBI Research’s latest report states that this increase, which will occur across the eight major markets of the USA, UK, France, Germany, Italy, Spain, Japan and Canada, will be driven primarily by rising multiple myeloma prevalence as a result of an aging population.

Additionally, approvals during the forecast period for drugs that will supplement current market leaders, such as Revlimid (lenalidomide, from Celgene [Nasdaq: CELG]), and offer improved therapeutic options, mainly in the relapsed/refractory setting, will also boost the market. Promising examples include ixazomib, ARRY-520 (filanesib; from Array BioPharma [Nasdaq: ARRY]), elotuzumab (from Bristol-Myers Squibb [NYSE: BMY] and AbbVie [NYSE: ABBV]), and daratumumab (from Johnson & Johnson [NYSE: JNJ) and Genmab [OMX: GEN]).