Multiple myeloma is a malignant plasma cell disease that mostly affects secondary organs such as the bone, kidney, and bone marrow, as well as immune and neurologic dysfunction. Multiple myeloma is a clonal plasma cell cancer caused by complex interactions between bone marrow stromal cells, malignant progenitor cells, and the microenvironment of the bone marrow. Refractory multiple myeloma is characterized as a disease that is progressing or non-responsive to therapy, or is progressing or non-responsive within sixty days of the last treatment in patients with a poor response. The increasing prevalence of multiple myeloma, advancement in research and development for innovative therapeutics for refractory multiple myeloma treatment, and the introduction of monoclonal antibodies for refractory multiple myeloma treatment are some of the factors driving the growth of the refractory multiple myeloma treatment market.This growth is primarily driven by Increased Prevalence of numerous forms of Blood Cancers and Increased need for efficient and effective treatments or Rare Diseases.
Major Players, such as Takeda Pharmaceutical Company Limited (Japan), Novartis AG (Switzerland), GlaxoSmithKline Plc (United Kingdom), Teva Pharmaceutical Industries Ltd. (Israel), Bristol Myers Squibb Company (Unite States), Amgen Inc. (United States), ONO PHARMACEUTICAL CO., LTD. (Japan), Janssen Pharmaceuticals, Inc. (United States), AbbVie Inc (United States) and Sanofi (France) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
August 2020 – GlaxoSmithKline Plc announced the US Food and Drug Administration (FDA) has approved BLENREP (belantamabmafodotin-blmf) as a monotherapy treatment for adult patients with relapsed or refractory multiple myeloma, and March 2020 – Sanofi - The U.S. Food and Drug Administration (FDA) has approved Sarclisa® (isatuximab-irfc) in combination with pomalidomide and dexamethasone (pom-dex) for the treatment of adults with relapsed refractory multiple myeloma (RRMM) who have received at least two prior therapies including lenalidomide and a proteasome inhibitor.
- Increased Prevalence of numerous forms of Blood Cancers
- Increased need for efficient and effective treatments or Rare Diseases
- Lack of R&D as it is a rare disease
- High Cost of Treatment
OpportunitiesAdvancement in Research and Development for Innovative Therapeutics
ChallengesLack of Effective Treatments in Certain Countries and Lack of Awareness Among People
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