Global Multiple Myeloma Market Assessment, By Drug Class [Immunomodulators, Proteasome Inhibitor, Anti-CD38 Monoclonal Antibody, Alkylating Agents, Others], By Disease Type [Active Multiple Myeloma, Smoldering Multiple Myeloma], By Distribution Channel [Hospital Pharmacies, Retail Pharmacies & Drug Stores, Online Pharmacies], By Region, Opportunities and Forecast, 2018-2032F

Global multiple myeloma market is projected to witness a CAGR of 6.01% during the forecast period 2025-2032, growing from USD 26.06 billion in 2024 to USD 41.58 billion in 2032. 

Multiple Myeloma Market Size, Share, Growth Analysis 2032

Global multiple myeloma market is projected to witness a CAGR of 6.01% during the forecast period 2025-2032, growing from USD 26.06 billion in 2024 to USD 41.58 billion in 2032. The multiple myeloma market is being driven by the rising global burden of hematologic cancers, increased adoption of targeted and immunotherapy-based treatments, and strong regional demand across North America. Technological innovations and favorable regulatory approvals are also boosting product launches. Additionally, a shift toward personalized medicine and combination regimens is enhancing patient outcomes and driving further market adoption.
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Report Attributes
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Details
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Base Year
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2024
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Forecast Period
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2025-2032
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Historical Period
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2018-2023
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Projected Growth Rate
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CAGR of 6.01% between 2025 and 2032
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Revenue Forecast in 2032
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USD 41.58 billion
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For instance, in February 2025, Opna Bio declared that its oral small molecule inhibitor, OPN-6602, has been granted FDA Orphan Drug designation for the treatment of multiple myeloma. OPN-6602 specifically targets the E1A-binding protein (EP300) and the CREB-binding protein (CBP).
Rising Global Burden of Hematologic Malignancies
The increasing global incidence of multiple myeloma and other hematologic cancers is one of the primary drivers of market growth. Multiple myeloma, a complex and progressive blood cancer, is gaining attention due to aging populations and better diagnostic capabilities. With over 160,000 new cases diagnosed globally in 2023, early diagnosis and awareness initiatives are propelling demand for advanced treatment options. Furthermore, initiatives by cancer organizations and global health bodies are pushing for more accessible and affordable therapies. The expansion of clinical guidelines and real-world data supporting early interventions is also encouraging healthcare providers to adopt newer therapies. Governments and non-profit bodies are investing in nationwide cancer care programs, further creating opportunities for pharmaceutical companies. For instance, the International Myeloma Foundation (IMF) announced its collaboration with SparkCures in October 2024 to offer an innovative service for myeloma patients and their care partners. This service will assist them in identifying clinical trials tailored to their individual results, diagnoses, treatment histories, and personal preferences. By integrating SparkCures' premier clinical trial matching engine and navigation service with the IMF's extensive patient support network, both organizations aim to meet the needs of myeloma patients in finding suitable clinical trials that align with their specific diagnoses or disease conditions.
Continuous Innovations and Targeted Therapy Advancements
Advances in drug development, especially targeted therapies, are revolutionizing the treatment landscape for multiple myeloma. The focus has shifted from broad-spectrum chemotherapy to novel agents such as monoclonal antibodies, bispecific T-cell engagers (BiTEs), and CAR-T cell therapies. These targeted modalities significantly improve progression-free survival and overall response rates, addressing unmet clinical needs. Innovations in proteasome inhibitors and immunomodulators have also enhanced treatment outcomes and reduced toxicity. Pharmaceutical companies are investing heavily in R&amp;D to bring next-generation therapies to market, which promises continued pipeline expansion. Furthermore, regulatory bodies are accelerating the review of novel drug applications under priority review or breakthrough therapy designations, further propelling innovation. In August 2023, the U.S. FDA granted accelerated approval to Talvey (talquetamab-tgvs, Janssen Biotech) for relapsed/refractory multiple myeloma, underscoring the momentum in targeted therapy innovation.
Surge in Anti-CD38 Monoclonal Antibody Usage
Anti-CD38 monoclonal antibodies have emerged as one of the most significant contributors to the growth of the multiple myeloma market. Drugs like daratumumab and isatuximab are being increasingly adopted in both frontline and relapsed settings due to their robust efficacy and tolerability profiles. These therapies are frequently used in combination regimens, enhancing their clinical utility across different disease stages. The rising preference for targeted biologics over traditional chemotherapy also supports the growth of this segment. Integrating anti-CD38 monoclonals into treatment guidelines worldwide has led to higher uptake and better patient outcomes, thereby solidifying their place in standard-of-care regimes. For instance, in July 2024, Sanofi reported a 36.2% year-on-year revenue increase for its anti-CD38 drug Sarclisa, reflecting its strong uptake in global multiple myeloma markets.
North America Maintains Market Leadership
North America, particularly the United States, dominates the global multiple myeloma market due to high healthcare expenditure, advanced treatment availability, and widespread access to innovative drugs. The presence of key players, strong regulatory infrastructure, and robust reimbursement mechanisms also facilitate faster market entry and uptake of new therapies. In addition, strong patient advocacy groups and frequent awareness campaigns lead to early diagnosis and treatment. The region also leads in clinical trials, offering access to cutting-edge therapies under development. Strategic collaborations between pharma companies and research institutions further accelerate innovation and adoption, ensuring that the United States remains the most lucrative market for multiple myeloma therapies. In November 2023, Amgen expanded its oncology R&amp;D center in Massachusetts to accelerate innovation in multiple myeloma and other blood cancers, reaffirming its focus on the United States market. They announced the presentation of new data from their blood cancer portfolio and pipeline at the 65th&nbsp;American Society of Hematology&nbsp;(ASH) Annual Meeting and Exposition, which took place in San Diego.
<a href="https://www.marketsandata.com/industry-reports/multiple-myeloma-market/sample-request">Download Free Sample Report</a>
Future Market Scenario (2025-2032F)
The global multiple myeloma market is poised for substantial growth over the coming years due to continued advancements in immunotherapy, rising disease prevalence, and increasing healthcare spending. With an expanding elderly population and improved diagnostic capabilities, early detection rates are expected to rise, boosting demand for novel treatments. Furthermore, the growing adoption of combination therapies, personalized medicine, and next-generation biologics such as bispecific antibodies and CAR-T cell therapies will transform the treatment landscape. The market will also benefit from strategic collaborations between pharmaceutical companies and academic institutions aimed at accelerating R&amp;D efforts. North America will likely retain dominance, but emerging markets in Asia-Pacific are anticipated to witness the fastest growth owing to improving healthcare infrastructure and regulatory support.
Report Scope
&ldquo;Multiple Myeloma&nbsp;Market Assessment, Opportunities and Forecast, 2018-2032F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global multiple myeloma market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecasts between 2025 and 2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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Details
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Segments Covered
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Drug Class, Disease Type, Distribution Channel
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profiled
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Novartis AG, Takeda Pharmaceutical Company Limited, Amgen, Inc., AbbVie Inc., Teva Pharmaceuticals, Inc., Bristol-Myers Squibb Company, Janssen Global Services, LLC, Sanofi S.A., Ono Pharmaceutical Co., Ltd., Genentech, Inc.
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report, the&nbsp;global multiple myeloma market&nbsp;has been segmented into the following categories:&nbsp;
<ul>
<li>By Drug Class
<ul>
<li>Immunomodulators</li>
<li>Proteasome Inhibitor</li>
<li>Anti-CD38 Monoclonal Antibody</li>
<li>Alkylating Agents</li>
<li>Others</li>
</ul>
</li>
<li>By Disease Type
<ul>
<li>Active Multiple Myeloma</li>
<li>Smoldering Multiple Myeloma</li>
</ul>
</li>
<li>By Distribution Channel
<ul>
<li>Hospital Pharmacies</li>
<li>Retail Pharmacies and Drug Stores</li>
<li>Online Pharmacies</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The key players in the market are significantly investing in the development of multiple myeloma and are utilizing strategies such as mergers, acquisitions, partnerships, and new product launches to improve their services and competitiveness. Such&nbsp;efforts&nbsp;will&nbsp;propel&nbsp;significant&nbsp;growth&nbsp;in&nbsp;the&nbsp;market, allowing&nbsp;large-cap industry&nbsp;players to&nbsp;increase their&nbsp;presence and,&nbsp;therefore, find&nbsp;new opportunities in&nbsp;this market.
For example, in May 2024, Novartis AG declared that it had reached an agreement to acquire Mariana Oncology, a biotechnology firm based in Watertown, Massachusetts, dedicated to the development of radioligand therapies.
Key Players Operating in the Global Multiple Myeloma Market are:
<ul>
<li>Novartis AG</li>
<li>Takeda Pharmaceutical Company Limited</li>
<li>Amgen, Inc.</li>
<li>AbbVie Inc.</li>
<li>Teva Pharmaceuticals, Inc.</li>
<li>Bristol-Myers Squibb Company</li>
<li>Janssen Global Services, LLC</li>
<li>Sanofi S.A.</li>
<li>Ono Pharmaceutical Co., Ltd.</li>
<li>Genentech, Inc.</li>
</ul>
If you can't find what you're searching for or have any custom requirements for&nbsp;global multiple myeloma&nbsp;market, you may approach our team at&nbsp;<a href="mailto:info@marketsandata.com">info@marketsandata.com</a>.

Global Multiple Myeloma Market Assessment, Opportunities and Forecast, 2018-2032F

The growth of the market is supported by the rising prevalence of hematological cancer, growing healthcare infrastructure and increasing geriatric population, and rapidly growing government support.

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