Multiple Myeloma Market Size, Share, Growth Analysis, By Drug Class(Proteasome Inhibitors, Immunomodulatory Drugs, Monoclonal Antibodies, and Steroids), By Therapy(Immunotherapy, Chemotherapy, Radiation Therapy, and Stem Cell Transplant), By Distribution channel(Hospital, Retail, and Online Pharmacies), By Region - Industry Forecast 2024-2031

Global Multiple Myeloma Market size was valued at USD 21.98 billion in 2022 and is poised to grow from USD 25.30 billion in 2023 to USD 77.93 billion by 2031, growing at a CAGR of 15.1% in the forecast period (2024-2031).

Surging prevalence of multiple myeloma and growing investments in oncology research are projected to primarily augment market development. Advancements in cancer treatment therapies and the growing use of CAR-T cell therapies, monoclonal antibodies, and immune checkpoint inhibitors for the treatment of multiple myeloma are also slated to benefit market players in the future. High investments in the R&D of multiple myeloma treatment and diagnostics coupled with the rising use of personalized medicine are also expected to create new opportunities for multiple myeloma companies going forward. Launch of new initiatives to promote awareness regarding multiple myeloma and increasing efforts to promote early diagnosis of multiple myeloma are also slated to expand the business scope for multiple myeloma providers. On the contrary, high costs of treatment, risk of adverse effects of treatment, lack of awareness, and development of treatment resistance are some key constraints that are estimated to impede multiple myeloma market outlook in the long run. 

US Multiple Myeloma Market is poised to grow at a sustainable CAGR for the next forecast year.