The Global Multiple Myeloma Treatment Market was valued at US$10.9 billion in the year 2018 and is likely to reach US$17.5 billion by 2026, with a CAGR of 6.1%.
Multiple Myeloma is a type of blood cancer that is characterized by cancer formation in the white blood cells otherwise denoted as the plasma cells. Generally, antibodies are produced by white blood cells for protection against foreign particles. During multiple myeloma, these plasma cells accumulate in the bone marrow outwitting the healthy cells and also produce a higher number of antibodies. These antibodies target the weaker area of the bones causing lytic lesions. Besides, these cancerous cells are also released into the bloodstream causing organ damage. Multiple Myeloma accounts for nearly 2% of the cancer-related deaths worldwide and is the second most common type of blood cancer next to Hodgkin’s Lymphoma. According to World Cancer Research Fund, in 2018, more than 159500 cases of multiple myeloma were diagnosed with the condition, where the occurrence rate among men and women was found in the ratio 1.2:1. The onset of the disease occurs after the age of 60. In recent times, the age of onset is drastically decreasing. Increasing geriatric population is one of the main factors that is set to drive this market as the aging population is set to cross 700 million by the end of 2020 and is set to cross 1.6 billion marks by 2050, according to the statistics from World Bank.