Published on : Jan 15, 2016
ALBANY, New York, Dec 03, 2015 - The research report titled “Multiple Myeloma Therapeutics in Asia-Pacific Markets to 2021 - Growth Driven by Rising Prevalence, Continued Success of Velcade, Revlimid and Emerging Supplementary Treatments”, and it states that the overall value of the Asia Pacific market for multiple myeloma therapeutics stood at US$1.7 bn in 2014.
According to analysts, the market is projected to expand at a CAGR of 7.40% during the period from 2015 and 2021 and reach a market value of US$2.8 bn by the end of the forecast period.
This report offers a comprehensive analysis of the Asia Pacific multiple myeloma therapeutics market on the basis of drug types, production volume, annual revenue, the cost associated with research and development, and the sales dynamics of blockbuster and major marketed drugs during the period from 2015 to 2021.
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The Asia Pacific market for multiple myeloma therapeutics is undergoing a phase of significant development. The growth in this market is primarily driven by the emergence of novel therapies. These novel therapies have enhanced the clinical results across all stages of multiple myeloma. In addition to this, the absence of generic competition in Japan, China, and Australia is likely to propel the multiple myeloma therapeutics market in Asia Pacific over the forecast period, states the report.
Velcade, Revlimid, and Thalomid are the leading brands, providing treatment for multiple myeloma in Asia Pacific. Analysts expect Revlimid, and Thalomid to maintain their dominance, owing to the absence of generic completion in the multiple myeloma therapeutics market in Asia Pacific, notes the market study. However, Velcade, the proteasome inhibitor, is likely to face severe challenge as its patent is going to expire in China by the end of 2015, in Japan by 2018, in Australia by 2020. The only consolation for this drug is its market in India, which is showing healthy growth.
The report further states that the existing treatments for multiple myeloma are expected to improve as physicians start prescribing the new drugs, many of which are to be administered in combination with the blockbuster drugs.
Some of the new entrants in the Asia Pacific multiple myeloma therapeutics market are Daratumumab and Elotuzumab. Daratumumab has been trialed in combination with dexamethasone and Revlimid, and Elotuzumab has been trialed in combination with Revlimid only. Another drug, Kyprolis, is likely to be introduced in this region over the next few years.
Market experts anticipate these emerging treatments for multiple myeloma to offer alternatives in the refractory or relapsed disease setting, contributing significantly to the growth of this market.
Other prominent pipeline drugs for multiple myeloma are filanesib, Zolinza, and plitidepsin, states the research report.
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