Global Multiple Myeloma Market Size & Forecast 2025–2033

According to Renub Research Recent Report global multiple myeloma market was valued at USD 21.78 billion in 2024 and is projected to reach USD 40.41 billion by 2033, growing at a CAGR of 7.11% from 2025 to 2033. Growth is primarily driven by the rising prevalence of multiple myeloma, advancements in targeted therapies, immunotherapies, and increasing healthcare infrastructure worldwide.

Multiple myeloma (MM) is a blood cancer that affects plasma cells in the bone marrow. The disease can lead to bone damage, kidney failure, anemia, and immune system compromise, particularly in older individuals. With advances in diagnostic methodologies, awareness campaigns, and treatment innovation, multiple myeloma therapies are becoming more accessible globally, offering improved survival rates and quality of life for patients.

Market Overview

Multiple myeloma is diagnosed using blood tests, bone marrow biopsies, and imaging scans. The main therapies include:

Chemotherapy

Targeted therapies (proteasome inhibitors, monoclonal antibodies)

Immunotherapy, including CAR-T cell therapy

Corticosteroids and supportive care

Stem cell transplantation

The market growth is further fueled by pharmaceutical investments in new drugs, government funding for oncology research, and expansion of treatment access across hospitals and clinics.

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Key Drivers of Growth

1. Advances in Targeted and Immunotherapies

Emerging therapies like monoclonal antibodies, proteasome inhibitors, and CAR-T cell therapy offer:

Higher treatment efficacy

Reduced side effects compared to conventional chemotherapy

Improved patient survival

Ongoing clinical research and innovation are expanding therapy options, which encourages investment by drug manufacturers.

Example: In December 2024, Merck’s FDA Biologics License Application for clesrovimab (MK-1654), a long-acting monoclonal antibody, was accepted, highlighting the focus on advanced biologics for patient care.

2. Rising Prevalence of Multiple Myeloma

The incidence of multiple myeloma is increasing globally, particularly among the elderly

Contributing factors include genetic predisposition, exposure to toxins, and lifestyle changes

Early diagnosis and greater awareness increase the demand for effective therapies

Example: In 2021, China and Germany reported 47,003 and 32,010 cases of multiple myeloma, respectively. Europe showed the highest age-standardized incidence and prevalence rates (ASIR & ASPR), while North America had the highest mortality (ASMR) and disability-adjusted life years (DALYs).

3. Growing Healthcare Spending and Awareness

Governments and private organizations are investing in screening programs and awareness campaigns

Expansion of hospitals and specialized clinics increases access to advanced oncology care

Reimbursement schemes and insurance coverage improve affordability and adoption of high-cost therapies

Market Challenges

1. High Cost of Therapy

Immunotherapies, CAR-T cell therapies, and stem cell transplants are expensive

Limited accessibility in developing regions restricts treatment availability

Even with insurance coverage, affordability remains a concern, potentially slowing market growth

2. Side Effects and Therapy Resistance

Many therapies carry risks such as infections, organ damage, and fatigue

Patients may develop resistance to therapies, requiring frequent modifications

These challenges drive the need for continuous innovation and clinical research

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Drug Segment Analysis

Chemotherapy

Longstanding conventional treatment, often combined with other therapies

Kills rapidly dividing cancer cells, typically used before stem cell transplantation

Usage is declining with the rise of targeted therapies and immunotherapies, but remains vital in regions with limited access to advanced drugs

Protease Inhibitors

Target the proteasome pathway in plasma cells

Improve patient survival with fewer side effects

Increasingly used in combination regimens to enhance treatment efficacy

Monoclonal Antibodies

Provide targeted therapy against specific myeloma antigens

Popular for relapsed or refractory multiple myeloma

Examples include CARVYKTI (Johnson & Johnson) and Abecma (Bristol Myers Squibb)

Other Therapies

Include corticosteroids, supportive care, and emerging experimental treatments

CAR-T cell therapies are gaining traction in both hospitals and specialized clinics

Disease Type Analysis

Active Multiple Myeloma

Represents symptomatic disease with organ damage

Treatment involves chemotherapy, targeted therapy, and stem cell transplantation

Improved protocols and early diagnosis are increasing patient survival rates

Smoldering Multiple Myeloma

Early-stage, asymptomatic form

Patients monitored with routine check-ups rather than immediate treatment

Clinical trials are investigating early intervention therapies to delay progression

End-User Analysis

Hospitals

Critical centers for advanced treatments, stem cell transplants, and CAR-T cell therapy

Incorporation of cutting-edge oncology infrastructure boosts procedural volume

Hospital-based care remains dominant in developed markets like the U.S. and Europe

Clinics

Specialized oncology clinics provide outpatient treatment including chemotherapy and targeted therapies

Outpatient care is convenient and cost-effective compared to hospital-based treatment

Expansion of hematology clinics increases accessibility of multiple myeloma care

Others

Include home-based care, nursing centers, and experimental therapy facilities

Adoption is limited but growing with telemedicine and clinical trial participation

Regional Insights

North America

U.S. dominates the multiple myeloma market due to advanced healthcare infrastructure and high research investment

Personalized therapies and immunotherapies are widely adopted

Insurance coverage improves access to high-cost treatments

Example: March 2024, FDA recommended CARVYKTI for relapsed/refractory multiple myeloma in adults

Europe

France is a key market due to precision medicine and universal healthcare access

Focus on early detection, research, and advanced therapies

Example: March 2024, Abecma approved by European Commission for relapsed and refractory cases

Asia-Pacific

India’s market growing through cancer awareness, improved diagnostics, and healthcare infrastructure

High treatment costs remain a barrier

Example: March 2025, PGI India initiated CAR-T cell therapy clinical trials for multiple myeloma

China and Japan also see rising incidence, driving demand for advanced therapies

Middle East & Africa

Saudi Arabia expanding oncology infrastructure with new hospitals and insurance coverage

Research collaborations in CAR-T and immunotherapy are increasing market growth

Example: May 2024, Kite (Gilead) and Arcellx announced Phase III trial of anito-cel (BCMA CAR-T therapy)

Latin America

Brazil and Mexico show gradual market expansion due to increased healthcare spending

Access to advanced therapies remains limited outside major urban centers

Competitive Landscape

Key players focus on drug development, clinical trials, partnerships, and geographic expansion:

Novartis AG – CAR-T therapies, monoclonal antibodies, and global market reach

AbbVie Inc. – Proteasome inhibitors and combination therapies for relapsed patients

Sanofi – Innovative therapies, immunomodulators, and research in hematology

Johnson & Johnson – CARVYKTI and other immunotherapies for refractory MM

Baxter International Inc. – Supportive care and specialty pharmaceuticals

Pfizer Inc. – Oncology portfolio with targeted agents and global distribution

Takeda Pharmaceutical Company Ltd – Multiple myeloma therapies including proteasome inhibitors

Bristol-Myers Squibb Company – Abecma (idecabtagene vicleucel) and CAR-T cell therapy

Strategies include:

Investment in R&D for targeted and immunotherapies

Strategic collaborations and licensing to expand portfolios

Focus on emerging markets and hospital networks for broader patient access

Market Outlook

The global multiple myeloma market is poised for robust growth due to:

Rising prevalence of multiple myeloma globally

Advances in immunotherapy, targeted therapy, and CAR-T treatment

Increased healthcare infrastructure and patient awareness

Government and private sector initiatives to improve access and affordability

By 2033, the market is expected to surpass USD 40.41 billion, offering new treatment opportunities and improved survival rates for patients worldwide.

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