Multiple Myeloma Treatment Market Size

Global Multiple Myeloma Treatment Market Overview 

Multiple Myeloma Treatment Market Size was valued at USD 21.72 Billion in 2023. The Global Multiple Myeloma Treatment industry is projected to grow from USD 22.21 Billion in 2024 to USD 26.82 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.62% during the forecast period (2024 - 2032).

Multiple myeloma is a plasma cell malignancy. The immune system relies on plasma cells, which are present in the bone marrow. T cells and B cells are two types of cells that make up the immune system, and they work together to combat infections and other disorders. Lymphocytes are a type of white blood cell (WBC) that play a vital role in the immune system. Lymphocytes can be found in various places throughout the body, including lymph nodes, bone marrow, the intestines, and circulation. 

Kite, a Gilead Company, and Arcellx have announced their intention to initiate a Phase III clinical trial of anitocabtagene autoleucel (anito-cel) for the treatment of multiple myeloma in May 2024. The development is one of the operational updates that the companies have announced as part of their partnered anito-cel multiple myeloma program. The randomized, controlled, global study, iMMagine-3, will evaluate the efficacy and safety of anito-cel in comparison to the standard of care in patients with relapsed and/or refractory multiple myeloma (r/r MM) who have received one to three prior treatments. 

It will enroll nearly 450 adults in 130 study sites located in North America, Europe, and other regions. The primary endpoint of the trial is progression-free survival, while the secondary endpoints are safety, overall survival, minimal residual disease negativity, and complete response rate. The iMMagine-3 trial is expected to commence in the latter half of 2024, according to Kite. Following the technical transfer from a third-party contract manufacturer and the transmission of the US Food and Drug Administration-cleared investigational new drug application, this development represents a significant milestone. The strategic partnership between Arcellx and Kite involves the joint development and commercialization of anito-cel in the United States, with Kite responsible for international marketing.

In April 2024, Johnson & Johnson disclosed sales figures for its innovative multiple myeloma treatment, Tecvayli. These figures suggest that the bispecific, which was approved in October 2022, is off to a strong start. In comparison to the $63 million in sales in the first quarter of the previous year, Tecvayli generated $133 million in revenue during the first quarter. It is also worth noting that the B-cell maturation antigen (BCMA) targeting agent can be used after four previous treatments in the United States, where $101 million of Tecvayli's first-quarter sales were generated. In Europe, it is permissible following the completion of three additional therapies. J&J also reported that Carvykti, a multiple myeloma cell therapy, had experienced positive momentum. Sales of $157 million, which were up from $72 million in the previous year, were reported. 

Additionally, J&J reported that the launch of Talvey, another multiple myeloma bispecific drug that was approved in August of last year, is proceeding smoothly. J&J's sales for the quarter totaled $21.4 billion, representing a 2.3% increase year over year and a 7.6% increase when the impact of COVID vaccine sales is taken into account. The medical devices sector of the company experienced a significant increase in sales during the quarter, with a 6.3% increase in comparison to a 1% increase in the pharmaceutical sector.

Due to key driving factors such as increased demand for non-invasive treatments and continuous improvement in research and development efforts, medicines therapy is predicted to be the largest market during the historic forecast period. An increase in the aging population increased healthcare expenditure, and increased use of novel cancer drugs in the market is expected to drive the growth of the multiple myeloma treatment market during the forecast period, whereas increasing disease prevalence along with a growing elderly population is the primary factor driving the market growth. 

The future medication pipeline for multiple myeloma has also been noted as promising. In the future, other variables such as biological pharmaceuticals and stem cell therapies are projected to drive the market. The research and development activities for multiple myeloma treatment are being accelerated by the major companies in the market.

Key players:

Some of the key players in the multiple myeloma treatment market are

• Celgene Corporation


• Janssen Biotech, Inc.


• Novartis AG


• Millennium Pharmaceuticals


• Amgen, Inc.


• Genzyme Corporation


• Juno Therapeutics


• Johnson & Johnson


• Bristol-Myers Squibb Company


• Hoffmann-La Roche Ltd.


• GlaxoSmithKline plc


• AbbVie Inc.


• Novartis AG


• Innate Pharma SA


• Celldex Therapeutics, Inc.


• Onyx Pharmaceuticals


• Pfizer


• Takeda Pharmaceuticals

Multiple Myeloma Treatment Market Segment Insights

The market of multiple myeloma treatment is further segmented into treatment types and end-users. Based on treatment types the market is segmented into chemotherapy, corticosteroids, interferon, stem cell transplant, and radiation therapy. Chemotherapy is further sub-segmented into bendamustine (treanda), cyclophosphamide (Cytoxan), doxorubicin (adriamycin), etoposide (vp-16), liposomal doxorubicin (Doxil), melphalan (Alkeran, evomela), vincristine (Oncovin). On the basis of end-user global market of multiple myeloma treatment is further segmented into hospitals, clinics, rehabilitative center treatment, independent pharmacies, and others.

The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The market of multiple myeloma treatment in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada. US account for the largest share of market.   The European multiple myeloma treatment market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. 

The market of multiple myeloma treatment in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market in the Middle East & Africa has been segmented into the Middle East and Africa.

Multiple Myeloma Treatment Regional Insights

Geographically, North America is expected to hold the largest share in global market of multiple myeloma treatment due to key driving factors such as rising prevalence of multiple myeloma, high awareness associated with early cancer diagnosis and treatment, supportive reimbursement policies, and developed healthcare infrastructure. 

Europe has been dominating the multiple myeloma treatment market owing to the faster approval rates and favorable healthcare policies and the presence of major players in this region. Higher prevalence of multiple myeloma in developed economies is driving the growth of the Europe market. 

Asia-Pacific is expected to show exponential growth due to rising awareness associated with cancer diagnosis and developing healthcare infrastructure is responsible for high accessibility to modern technology.

Furthermore, factors such as increased healthcare infrastructure and improved healthcare reimbursement policies are responsible for the growth of multiple myeloma treatment market in the Middle East and Africa.

Source: Food and Drug Administration (FDA), Centers for Disease Control and Prevention (CDC), American Association of the neurological surgeon

Multiple Myeloma Treatment Market Segment Insights

Multiple Myeloma Treatment Treatment Insights

• Chemotherapy 


• Bendamustine (Treanda)


• Cyclophosphamide (Cytoxan)


• Doxorubicin (Adriamycin)


• Etoposide


• Liposomal doxorubicin (Doxil)


• Melphalan (Alkeran, Evomela)


• Vincristine (Oncovin)


• Corticosteroids


• Interferon


• Stem Cell Transplant


• Radiation Therapy

Multiple Myeloma Treatment End User Insights

• Hospitals


• Clinics


• Independent pharmacies


• Others

Multiple Myeloma Treatment Region Insights

• Americas




• North America




• US


• Canada




• South America




• Europe




• Western Europe




• Germany


• France


• Italy


• Spain


• UK


• Rest of Western Europe




• Eastern Europe




• Asia Pacific




• Japan


• China


• India


• Australia


• Republic of Korea


• Rest of Asia Pacific




• Middle East & Africa




• Middle East


• Africa

Recent Development

Sanofi SA's Sarclisa (siltuximab) in combination with carfilzomib and dexamethasone for patients with relapsed or refractory multiple myeloma gained FDA approval in March 2021. UKONIQ (umbralisib), an oral, once-daily inhibitor of phosphoinositide 3 kinases (PI3K) delta and casein kinase 1 (CK1) epsilon for the treatment of adult patients with relapsed or refractory marginal zone lymphoma (MZL) and adult patients with relapsed or refractory follicular lymphoma, received accelerated approval from the US FDA (FL).

Intended Audience

• Manufacturers and Suppliers


• Hospitals and clinics


• Laboratories and Associations


• Research institutes