New Blockbusters Will Push Multiple Myeloma Treatment Market to $22.4 Billion by 2023

October 29, 2015

October 29, 2015.

 

The global treatment market for multiple myeloma will rise in value from $8.9 billion in 2014 to an estimated $22.4 billion by 2023, representing CAGR of 11.2%, according to research and consulting firm GlobalData.

The company’s report states that this increase will be boosted by increasing therapeutic options, including the introduction of two monoclonal antibodies (mAbs) with blockbuster potential, namely Empliciti and daratumumab, during the forecast period. 

Dan Roberts, Ph.D., GlobalData’s Senior Analyst covering Oncology and Hematology, says the patent expiries of a number of key treatments will pave the way for the new mAbs to have a major impact on the multiple myeloma therapeutics space by 2023.

Roberts comments: “The patents of the two best-selling drugs in multiple myeloma treatment, namely Revlimid (lenalidomide) and Velcade (bortezomib), will both expire in the US and five European countries during the forecast period.

“As a consequence, Celgene will lose its dominance in this therapy area, with its market share anticipated to fall dramatically from 68% in 2014 to a mere 17% by 2023.”

He adds that Janssen/Genmab and Bristol-Myers Squibb/AbbVie both have very promising pipelines for multiple myeloma, driven primarily by the excitement surrounding their mAbs daratumumab and Empliciti, respectively.

Both Empliciti and daratumumab are expected to first launch in 2016. Empliciti is forecast to reach blockbuster status by 2018 with peak sales in 2022 at $4.2 billion, while daratumumab is anticipated to achieve peak sales of $3.7 billion in 2023.

See the report PharmaPoint: Multiple Myeloma – Global Drug Forecast and Market Analysis to 2023