The multiple myeloma market is expected to grow in the upcoming years, owing to a rise in incident cases, label expansion and penetration of current therapies in earlier lines, high adoption of newer therapies, mainly CAR-T cell therapies and bispecific antibodies, a rich emerging pipeline, and an expected increase in investment in R&D activities.
LAS VEGAS, March 18, 2025 -- Multiple myeloma is a type of cancer characterized by the uncontrolled proliferation of clonal plasma cells, which leads to organ dysfunction and, eventually, death. There were more than 33,000 symptomatic incident cases in the US in 2024, and these cases are expected to grow with a moderate CAGR in the forecast period 2025–2034.
The treatment landscape for multiple myeloma is rapidly evolving, particularly with the increasing use of monoclonal antibodies in newly diagnosed patients. DARZALEX has established a strong market position compared to its competitors. Many emerging therapies under evaluation are expected to complement DARZALEX rather than compete directly with it. Johnson & Johnson is actively exploring treatment sequences that combine DARZALEX with TECVAYLI, CARVYKTI, and TALVEY.
SARCLISA, a newly approved CD38 antibody for multiple myeloma, is gaining traction quickly. However, DARZALEX maintains a significant head start. Both drugs are competing in quadruplet regimens for transplant-eligible and ineligible patients, with competition intensifying, particularly among non-transplant-eligible individuals, supported by evidence primarily from studies involving transplant-eligible groups.
DARZALEX, from Johnson & Johnson, and EMPLICITI, from Bristol Myers Squibb and AbbVie, were both introduced in the same month. However, DARZALEX has outperformed EMPLICITI, achieving blockbuster status.
In 2024, the US multiple myeloma market was valued at USD 15 billion. Significant growth is anticipated by 2034, driven by rising incidence rates, expanded indications, earlier adoption of existing therapies, increasing use of innovative treatments—such as CAR-T cell therapies and anti-BCMA—pipeline advancements, and greater investment in research and development.
Discover more about the multiple myeloma market in detail @ Multiple Myeloma Market Report
DelveInsight has expertise in the oncology market, and an experienced team handles the oncology domain proficiently. DelveInsight has recently released a series of epidemiology-based market reports on multiple myeloma including CAR T-Cell Therapy for Multiple Myeloma, Refractory Multiple Myeloma, Relapsing Refractory Multiple Myeloma, and Triple-refractory Multiple Myeloma. These reports include a comprehensive understanding of current treatment practices, emerging drugs, market share of individual therapies, and current and forecasted market size from 2020 to 2034 segmented into 7MM [the United States, the EU4 (Germany, France, Italy, and Spain), the United Kingdom, and Japan].
Additionally, the reports feature an examination of prominent companies working with their lead candidates in different stages of clinical development. Let's dive deep into the market assessment of these reports individually.
CAR T-Cell Therapy for Multiple Myeloma Market
CAR-T cell immunotherapy is emerging as a groundbreaking treatment for multiple myeloma, providing new hope for patients who have exhausted standard treatment options. Currently, only two CAR-T cell therapies are approved for multiple myeloma: ABECMA (idecabtagene vicleucel) from Bristol-Myers Squibb and CARVYKTI (ciltacabtagene autoleucel) from Johnson & Johnson Innovative Medicine. Their approval underscores the potential of CAR-T therapy as a transformative option for multiple myeloma.
A major benefit of CAR-T therapies is their "one-and-done" approach, which requires just a single administration, unlike bispecific antibodies such as TECVAYLI and TALVEY, which require ongoing treatment. While current CAR-T treatments rely on a patient's own T cells (autologous), research is underway to develop allogeneic CAR-T cells sourced from healthy donors. Allogeneic CAR-T therapies could enable off-the-shelf treatments, improving accessibility and reducing costs.
The approval of CAR-T therapies has created new opportunities for companies developing treatments for advanced-stage multiple myeloma (fourth line and beyond). Key players such as Arcellx (Anito-cel), Novartis (PHE885), Bristol-Myers Squibb (BMS-986393), CARsgen Therapeutics (Zevorcabtagene Autoleucel), and Galapagos (GLPG5301), among others, are advancing their CAR-T candidates at various stages of development.
Overall, the CAR-T cell therapy market for multiple myeloma is expected to expand significantly between 2024 and 2034, driven by its strong efficacy and potential for broader use. Collaboration among pharmaceutical companies and research institutions, along with ongoing innovation, is expected to fuel market growth. However, challenges such as manufacturing complexities and pricing may need to be addressed to fully realize its potential.
For a comprehensive view of the CAR T-cell therapy for multiple myeloma market, check out the CAR T-Cell Therapy for Multiple Myeloma Market Assessment
Refractory Multiple Myeloma Market
Refractory multiple myeloma refers to a form of multiple myeloma in which the disease no longer responds to treatment or relapses shortly after initial therapy. Multiple myeloma is a hematologic cancer caused by the proliferation of malignant plasma cells in the bone marrow, leading to bone damage, anemia, renal dysfunction, and immunodeficiency.
Refractory multiple myeloma typically occurs after patients have been treated with standard therapies such as proteasome inhibitors (PIs), immunomodulatory drugs (IMiDs), and monoclonal antibodies but fail to achieve a durable response. Patients with refractory multiple myeloma face a poor prognosis, with limited treatment options and shorter overall survival compared to newly diagnosed or relapsed cases. The complexity of refractory multiple myeloma stems from the disease's ability to develop resistance to multiple therapeutic classes, driving the need for novel treatment strategies.
Several therapies have been approved for treating refractory multiple myeloma, including monoclonal antibodies like DARZALEX (Johnson & Johnson) and SARCLISA (Sanofi), proteasome inhibitors like KYPROLIS (Amgen) and VELCADE (Takeda), and IMiDs like REVLIMID (Bristol Myers Squibb) and POMALYST (Bristol Myers Squibb).
The introduction of CAR-T therapies, such as ABECMA (Bristol Myers Squibb and bluebird bio) and CARVYKTI (Johnson & Johnson and Legend Biotech), has transformed the refractory multiple myeloma landscape by offering targeted, patient-specific treatments. Additionally, bispecific T-cell engagers (BiTEs) like TECVAYLI (Johnson & Johnson) and ADCs like BLENREP (GlaxoSmithKline) have emerged as promising therapies for refractory multiple myeloma.
The refractory multiple myeloma market is growing rapidly, driven by increasing incidence rates, longer survival due to improved treatment options, and the rising number of patients progressing to refractory disease. The market is highly competitive, with major players including Johnson & Johnson, Bristol Myers Squibb, Amgen, Sanofi, and Takeda vying for market share.
The growing adoption of CAR-T and BiTE therapies, combined with ongoing clinical trials investigating next-generation agents targeting BCMA, GPRC5D, and FcRH5, is expected to drive significant growth. However, high treatment costs, manufacturing complexity, and reimbursement challenges remain key barriers to widespread adoption. The introduction of novel modalities such as off-the-shelf CAR-T therapies and targeted ADCs is anticipated to further reshape the competitive landscape in the coming years.
Discover more about refractory multiple myeloma drugs in development @ Refractory Multiple Myeloma Clinical Trials
Relapsing Refractory Multiple Myeloma Market
Relapsing refractory multiple myeloma (RRMM) refers to a stage of multiple myeloma where the disease either returns after a period of remission (relapse) or becomes resistant to existing therapies (refractory). RRMM poses a significant clinical challenge as patients often experience diminishing responses to successive lines of therapy, resulting in poor prognosis and limited treatment options. The high mutation rate and clonal evolution of myeloma cells contribute to treatment resistance, making RRMM a complex disease to manage.
The current market offers a wide array of therapeutic options for treatment, including proteasome inhibitors, immunomodulators, HDAC inhibitors, monoclonal antibodies, chemotherapy, corticosteroids, nuclear export inhibitors, and CAR-T cell therapy across various treatment stages. Disease-targeted treatments typically involve medications such as targeted therapies and/or chemotherapy, with or without steroids. Bone marrow or stem cell transplantation may also be considered. Additionally, radiation therapy and surgery are employed in specific cases.
Several promising drugs are in the pipeline, including Mezigdomide (Bristol Myers Squibb/Celgene), Linvoseltamab (Regeneron Pharmaceuticals), BGB-11417 (BeiGene), PHE885 (Novartis), Iberdomide (Bristol-Myers Squibb/Celgene), and CART-ddBCMA (Arcellx), among others.
The RRMM market is experiencing rapid growth driven by the increasing incidence of multiple myeloma, the need for more effective treatments for relapsed and refractory cases, and the introduction of novel mechanisms of action. Challenges such as high treatment costs, access to CAR-T therapies, and the development of resistance to current treatments are influencing market dynamics. However, the pipeline remains robust, with a focus on next-generation CAR-T therapies, bispecific antibodies, and targeted small molecules, indicating a competitive and evolving landscape.
To gain a deeper understanding of the RRMM market, be sure to explore the Relapsing Refractory Multiple Myeloma Market Outlook
Triple-refractory Multiple Myeloma Market
Triple-refractory multiple myeloma (TRMM) is a challenging form of the disease characterized by resistance to at least three different classes of therapies, including immunomodulatory drugs, proteasome inhibitors, and monoclonal antibodies. Patients with TRMM often face poor prognoses and limited treatment options, necessitating the development of novel therapeutic strategies. Recent advances in understanding the disease's biology have led to innovative approaches, including targeted therapies and combination regimens.
The landscape of treatment for triple-refractory multiple myeloma is rapidly evolving, with a focus on innovative therapies that address the unique challenges posed by this aggressive disease. TRMM patients have exhausted standard treatment options, making them reliant on emerging therapies that target specific pathways involved in myeloma progression. The introduction of CAR-T therapies, such as idecabtagene vicleucel (ide-cel) and ciltacabtagene autoleucel (cilta-cel), has shown promising results in clinical trials, offering hope for improved outcomes in this difficult-to-treat population.
Currently, several drugs have received approval for treating relapsed or refractory multiple myeloma, including pomalidomide and selinexor, which are used in various combinations to enhance efficacy. Companies like Amgen, Bristol-Myers Squibb, and Karyopharm Therapeutics are actively involved in developing new therapies for TRMM, focusing on novel agents such as BCMA-targeted treatments.
The market dynamics are shaped by the increasing prevalence of multiple myeloma, increasing demand for effective treatments, the high cost of novel therapies, and the ongoing need for clinical trials to validate new treatment regimens. As research continues, the focus remains on improving patient outcomes and quality of life through personalized treatment strategies.
Explore in-depth for a comprehensive understanding of the Triple-refractory Multiple Myeloma Clinical Trials
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