Multiple Myeloma Industry - Regional Synopsis
North America Market Forecast
By region, North America industry is expected to dominate majority revenue share by 2037, owing to the increasing demand for the treatment and implementation of advanced therapeutics in the region. Also, increasing investment in the healthcare sector and key players in the region are propelling market growth. The US healthcare sector is enormous; in 2021, healthcare spending will represent more than 18.3% of the US GDP. US healthcare costs more than those in most other nations. The Commonwealth Fund estimates that the US spent close to 16.8% of its GDP on healthcare in 2019.
APAC Market Statistics
The multiple myeloma market in Asia Pacific is witnessing significant growth with about 25% revenue share owing to the increasing number of government funding organizations for research and development related to cancer. According to WHO, the Ministry of Finance of the People’s Republic of China, and the Indian Council of Medical Research of India are some government institutions in Asia Pacific that provide funding for research related to cancer. These factors are bolstering the market growth in the region. In addition, the Asia Pacific region saw 63,439 new cases of multiple myeloma in 2020, according to the International Agency for Research on Cancer.
