AUG 20, 2015 11:36 PM PDT

Multiple Myeloma Market

WRITTEN BY: Ilene Schneider
Business intelligence provider GBI Research predicts that 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 percent. Drug Discovery & Development reported on the analysis by Yasser Mushtaq, senior analyst at GBI.
GBI Research says multiple myeloma market is growing.
 
GBI’s latest report says that the increase, which is predicted to occur across the eight major markets of the US, UK, France, Germany, Italy, Spain, Japan and Canada, will be driven primarily by growing multiple myeloma prevalence because of an aging population. The report also states that approvals during the forecast period for drugs that will supplement current market leaders, such as Revlimid, and offer improved therapeutic options, mainly in the relapsed/refractory setting, will also enhance the market. Some examples include ixazomib, ARRY-520 (filanesib), elotuzumab and daratumumab.

While multiple myeloma remains incurable, greater understanding of its underlying cellular and molecular biology has led to novel therapy development, with significantly improved clinical outcomes. Some late-stage pipeline drugs will have a low impact, while others, including elotuzumab and daratumumab, have demonstrated promising clinical results in specific patient populations. Thus, these products could provide physicians with increased choice and complexity in multiple myeloma treatment over the forecast period. On the other hand, market barriers, such as a limited target patient population, will restrict any further growth in the multiple myeloma therapeutics arena by 2021, according to the report.

Because multiple myeloma is rare and designated as an orphan disease, the available treatment population is limited, in turn limiting the potential revenues that can be generated. These factors, along with high drug development costs, can keep manufacturers from investing in multiple myeloma drugs. Conversely, incentives for orphan disease drug development and the ability to repurpose drugs could help to balance these challenges and spur additional research into multiple myeloma treatments.

Earlier this month Drug Discovery & Development reported on other aspects of the GBI Research analysis of the cancer drug market. Among the findings were that the oncology drug pipeline is much bigger than any other therapy area in the pharmaceutical industry, with 6,484 products in active development, suggesting “significant opportunities for new market entries.” GBI’s latest report says that of the pipeline oncology products in development, most are in the early stages, with 2,937, or about 45 percent of the total pipeline, at the Preclinical stage, and 1,591, or 25 percent, at the discovery stage.

 
About the Author
  • Ilene Schneider is the owner of Schneider the Writer, a firm that provides communications for health care, high technology and service enterprises. Her specialties include public relations, media relations, advertising, journalistic writing, editing, grant writing and corporate creativity consulting services. Prior to starting her own business in 1985, Ilene was editor of the Cleveland edition of TV Guide, associate editor of School Product News (Penton Publishing) and senior public relations representative at Beckman Instruments, Inc. She was profiled in a book, How to Open and Operate a Home-Based Writing Business and listed in Who's Who of American Women, Who's Who in Advertising and Who's Who in Media and Communications. She was the recipient of the Women in Communications, Inc. Clarion Award in advertising. A graduate of the University of Pennsylvania, Ilene and her family have lived in Irvine, California, since 1978.
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