The Latin America, Middle East and Africa Multiple Myeloma Market would witness market growth of 16.5% CAGR during the forecast period (2023-2029).
The growth of nanomedicine platforms, the increasing usage of microRNA therapies, and the ongoing development of efficient and secure medications all contribute to developing the multiple myeloma market. The medication sector is projected to grow when histone deacetylase (HDAC) inhibitors and monoclonal antibodies are added to the current treatment options. Clinicians choose biological therapy using monoclonal antibodies like darzalex and empliciti because of the documented clinical profile.
As the disease's symptoms start manifesting as active myeloma, doctors determine whether to use the second and third lines of therapy. Stem cell transplant operations are typically included in the first line. The method entails storing bone marrow and stem cells outside the patient's body, followed by a strong dosage of chemotherapy or radiation and bone marrow replenishment and stem cells. There is a high demand for allogeneic stem cell transplants rather than autologous ones, the two main forms of stem cell transplants.
In Latin America, many treatment methods of MM have been tested. The disease had little effect from chemotherapy combined with dexamethasone, but developing new medications like protease inhibitors or IMiDs significantly improved the prospects for MM patients. Thalidomide was the first medication to demonstrate success, and it was already available in numerous Latin American nations, including Brazil, as it is inexpensive and thus accessible in this region. MM therapy combines this medication with dexamethasone or dexamethasone and alkylating drugs. The rising prevalence of multiple myeloma and the availability of treatment drugs are propelling the advancement of the regional market.
The Brazil market dominated the LAMEA Multiple Myeloma Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $772.4 Million by 2029. The Argentina market is exhibiting a CAGR of 17.1% during (2023 - 2029). Additionally, The UAE market would showcase a CAGR of 16.2% during (2023 - 2029).
Based on End User, the market is segmented into Hospitals, Clinics, and Others. Based on Disease Type, the market is segmented into Active Multiple Myeloma and Smoldering Multiple Myeloma. Based on Drug Type, the market is segmented into Protease Inhibitors, Monoclonal Antibody, Chemotherapy and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Multiple Myeloma Market is Projected to reach USD 37.5 Billion by 2029, at a CAGR of 9.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Novartis AG, Bristol Myers Squibb Company, Amgen, Inc., AbbVie, Inc., Sanofi S.A., Johnson & Johnson, Baxter International, Inc., Takeda Pharmaceutical Company Limited, Teva Pharmaceuticals Industries Ltd., and Pfizer, Inc.
By End User
By Disease Type
By Drug Type
By Country
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