APAC Multiple Myeloma Therapy Market Hit $1.7 Billion in 2014 and Will Add $1.1 Billion by 2021, says GBI Research
LONDON, December 22, 2015 /PRNewswire/ --
Emergence of novel therapeutics and minimal generic competition in China, Japan and Australia will drive APAC multiple myeloma market growth to 2021, says GBI Research.
Analysis from business intelligence provider GBI Research - Myeloma Therapeutics in Asia-Pacific Markets to 2021 - states that the treatment market for multiple myeloma across the Asia-Pacific (APAC) countries of China, India, Japan, and Australia will rise in value from $1.7 billion in 2014 at a Compound Annual Growth Rate (CAGR) of 7.4% to reach $2.8 billion by 2021.
Leading brands Revlimid, Velcade and Thalomid will continue to perform strongly in the APAC multiple myeloma treatment space during the forecast period, as generic competition remains low. For a complimentary sample of this research, please visit the GBI Research website.
Analyst Deekshita Allavarapu: "The only leading brand that faces imminent generic challenge is the proteasome inhibitor Velcade, the patent of which is expected to expire in China, Japan, and Australia, in 2015, 2018 and 2020, respectively. Generic versions of Velcade are already available in India.
"Furthermore, there are now several options in the relapsed or refractory disease setting, which will also contribute to growth in the APAC multiple myeloma therapeutics market by 2021. These drugs include Pomalyst, which was approved in Australia and Japan in 2013, and Farydak, which was approved in Japan earlier this year."
GBI Research's report also states that these existing treatments for multiple myeloma will be supplemented by new drugs, many of which will be used in combination with the leading brands.
Allavarapu continues: "Kyprolis will be launched in the APAC region in the near future, Daratumumab has been trialed in combination with Revlimid and dexamethasone, and elotuzumab has been trialed in combination with Revlimid.
"These emerging multiple myeloma therapies are likely to offer alternatives in the relapsed or refractory disease setting, in both the second and third lines of treatment, further boosting APAC market growth.
"Other promising multiple myeloma pipeline drugs are Zolinza, filanesib and plitidepsin. However, no clinical trial is registered for these treatments in the APAC countries and they are only expected to launch towards the end of the forecast period."
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