Multiple Myeloma Therapeutics Market Market Size

Multiple Myeloma Therapeutics Market size was over USD 27.2 billion in 2024 and is estimated to reach USD 58.5 billion by the end of 2037, expanding at a CAGR of 6.6% during the forecast timeline, i.e., 2025-2037. In 2025, the industry size of multiple myeloma therapeutics is estimated at USD 29 billion. The rising incidence rate of plasma cell cancers is driving the need for effective myeloma treatment and therapeutics. The global number of MM accounted to be 160,000 in 2020, according to the NLM article, published in May 2020. The 2022 World Cancer Research Fund International report states, that 187,952 new incidences of multiple myeloma were registered worldwide in the same year. These statistics indicate the need for immediate actions to prevent future increments.

Significant funding from both private and public authorities is influencing the multiple myeloma therapeutic market to dive into extensive R&D. In November 2023, the Multiple Myeloma Research Foundation (MMRF) made a strategic investment of USD 21 million for three research projects. Each MAC program will receive an individual USD 7 million grant to accelerate the testing and clinical trials of advanced therapeutics. Such funding is inspiring pharma companies and service providers to facilitate the highest quality treatment plans for patients. Personalized therapeutic plans are now being tailored to address age-specific properties of cancer cells. Advanced treatment approaches are gaining traction toward generating additional market revenue for investors.