China Multiple Myeloma Therapeutics Market Analysis

China Multiple Myeloma Therapeutics Market Analysis


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The China Multiple Myeloma Therapeutics Market was valued at $670 Mn in 2022 and is estimated to expand at a CAGR of 7.5% from 2022 to 2030 and will reach $1069 Mn in 2030. One of the main reasons propelling the growth of this Market is Rising disposable income, aging population. The Market is segmented by type, drug and distribution channel. Some key players in this Market are BeiGene, Innovent Biologics, Simcere, Hengrui Medicine, CSPC Pharmaceutical and others.

ID: IN10CNPH301 CATEGORY: Rare Diseases GEOGRAPHY: China AUTHOR: Nandini Shah

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China Multiple Myeloma Therapeutics Market Executive Summary

The China Multiple Myeloma Therapeutics Market was valued at $670 Mn in 2022 and is estimated to expand at a CAGR of 7.5% from 2022 to 2030 and will reach $1069 Mn in 2030. China is a rapidly growing market for multiple myeloma therapeutics, with an increasing incidence of the disease and a large population base. Multiple myeloma is a malignancy caused by malignant mutation and aberrant growth of plasma cells. Myeloma can invade bone marrow and cause bone pain in many places of the body, compromise normal haematological function, and lead to life-threatening disorders such as anaemia, platelet insufficiency, and immunodeficiency

Multiple myeloma is the second most common type of blood cancer in China after leukemia. According to a study published in the Journal of Hematology & Oncology in 2020, the incidence of multiple myeloma in China is increasing at a rate of approximately 6.7% per year. This rising incidence of the disease is expected to drive the growth of the multiple myeloma therapeutics market in China. The condition is prevalent in middle-aged and elderly individuals aged 60 to 70, with around 98% being diagnosed after the age of 40 and 60% being male.

China Multiple Myeloma Therapeutics Market

Market Dynamics

Market Growth Drivers

The prevalence of multiple myeloma is increasing in China, which is one of the key drivers of the market. This is attributed to the aging population, changes in lifestyle, and environmental factors. The Chinese government has been taking initiatives to improve healthcare infrastructure and make healthcare services more accessible to people. This has led to increased investment in the healthcare sector and has been a major driver of growth in the multiple myeloma therapeutics market. As the disposable income of people in China increases, they are willing to spend more on healthcare. This has led to an increase in demand for better quality healthcare services, including multiple myeloma therapeutics. With the advancements in technology, the treatment options for multiple myeloma have increased, leading to a higher demand for therapeutics. Innovative therapies like CAR-T cell therapy have shown promising results in clinical trials. There is an increasing awareness about multiple myeloma among people in China, which has led to early diagnosis and better treatment outcomes. This has increased the demand for multiple myeloma therapeutics.

Market Restraints

Despite the increasing demand for multiple myeloma therapeutics, China's healthcare system still has limited resources and facilities, which can make it difficult for patients to receive timely and appropriate care. The cost of multiple myeloma therapeutics in China can be high, which can be a major barrier to access for patients who may not be able to afford it. Multiple myeloma is not as well-known in China compared to other countries, which can lead to delayed diagnosis and treatment. China has a complex regulatory environment, which can make it difficult for foreign companies to enter the market and obtain the necessary approvals for their products. The multiple myeloma therapeutics market in China is highly competitive, with both domestic and international players vying for market share, which can make it challenging for new entrants.

Competitive Landscape

Key Players

  • BeiGene
  • Innovent Biologics
  • Simcere
  • Hengrui Medicine
  • CSPC Pharmaceutical
  • Johnson & Johnson
  • Bristol-Myers Squibb
  • Amgen Inc.
  • Celgene Corporation

Healthcare Policies and Regulatory Landscape

In China, the healthcare policy and regulatory framework are constantly evolving. The Chinese government has made several efforts to improve the healthcare system and promote innovation in the pharmaceutical industry. The China Food and Drug Administration (CFDA) is responsible for regulating the approval and registration of drugs, including multiple myeloma therapeutics.

One of the key initiatives taken by the Chinese government to improve the healthcare system is the Healthy China 2030 plan, which aims to improve the overall health of the Chinese population by addressing key health issues, such as cancer. The government has also implemented policies to promote innovation in the pharmaceutical industry and reduce the time and cost of drug approval.

Reimbursement Scenario

The reimbursement scenario in China for multiple myeloma therapeutics has been improving in recent years. In 2018, the Chinese government announced a new policy to include 17 new drugs in the National Reimbursement Drug List (NRDL), including some drugs used for multiple myeloma treatment. This policy aims to improve patient access to innovative drugs and reduce the financial burden of patients and their families.

In addition, the Chinese government has been promoting the development of the domestic pharmaceutical industry, which may lead to the development of more affordable and accessible treatments for multiple myeloma patients. However, there are still challenges in the reimbursement system, including the low reimbursement rates for some drugs and the limited coverage of the NRDL in some regions. These factors may affect patient access to some of the newer and more expensive drugs.

 

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Multiple Myeloma Therapeutics Market Segmentation

By Treatment

  • Chemotherapy
  • Immunotherapy
  • Targeted therapy
  • Radiation therapy
  • Stem cell transplant

By Distribution Channel

  • Hospitals
  • Retail
  • Online

By End User (Revenue, USD Bn):

  • Hospitals
  • Clinics
  • Cancer Research Centers

By Drug Class

Immunomodulatory drugs (IMiDs)

One of the most common therapies used to treat myeloma are immunomodulatory drugs, or IMiDs. These drugs work by modifying the immune system to attack myeloma cells and have been a significant advance in the treatment of multiple myeloma. Some of the commonly used IMiDs in multiple myeloma include:

  • Lenalidomide (Revlimid): Lenalidomide is an oral medication that is used in the treatment of multiple myeloma, as well as other blood cancers such as myelodysplastic syndromes (MDS). It may help the immune system in eliminating cancerous or abnormal blood cells. Moreover, it might stop the development of new blood vessels that tumours require to expand.
  • Pomalidomide (Pomalyst): Pomalidomide is an oral medication that is used to treat multiple myeloma. It works in a similar way to lenalidomide, by enhancing the immune system's ability to target cancer cells. Also, it makes it easier for immune cells to eliminate faulty myeloma cells, aiding in the production of healthy blood cells in the myeloma.
  • Thalidomide (Thalomid): Thalidomide was the first IMiD to be used in the treatment of multiple myeloma. It works by modulating the immune system and preventing the growth of blood vessels that supply the tumor
  • CC- 4047 (Actimid): CC-4047 is a newer IMiD that is still under investigation for the treatment of multiple myeloma. It works by inhibiting the growth of cancer cells and promoting their death.

Proteasome inhibitors

Proteasome inhibitors are a class of drugs that are commonly used in the treatment of multiple myeloma. They work by blocking the activity of proteasomes, which are cellular structures that break down proteins. This leads to the accumulation of proteins within the myeloma cells, ultimately causing their death. Some proteasome inhibitors used in multiple myeloma include:

  • Bortezomib (Velcade): Bortezomib was the first proteasome inhibitor approved for the treatment of multiple myeloma. It is given by injection and is often used in combination with other drugs, such as chemotherapy or immunomodulatory drugs. Bortezomib is highly effective in inducing remissions in newly diagnosed and relapsed/refractory multiple myeloma patients.
  • Carfilzomib (Kyprolis): Carfilzomib is a newer proteasome inhibitor that is approved for the treatment of multiple myeloma. It is given by injection and can be used as a single agent or in combination with other drugs. Carfilzomib has shown excellent results in heavily pretreated patients with relapsed/refractory multiple myeloma.
  • Ixazomib (Ninlaro): Ixazomib is an oral proteasome inhibitor that is approved for use in combination with lenalidomide and dexamethasone for the treatment of multiple myeloma. It is the first oral proteasome inhibitor and offers the convenience of home administration.

Monoclonal antibodies:

Monoclonal antibodies, target specific proteins on the surface of myeloma cells, causing them to be destroyed by the immune system. Some of the commonly used monoclonal antibodies in multiple myeloma include:

  • Daratumumab (Darzalex): Daratumumab is a monoclonal antibody that targets a protein called CD38, which is highly expressed on the surface of myeloma cells. By binding to CD38, daratumumab triggers the immune system to attack and destroy the cancer cells. It is approved for use in multiple myeloma in combination with other drugs, such as lenalidomide or bortezomib.
  • Elotuzumab (Empliciti): Elotuzumab is a monoclonal antibody that targets a protein called SLAMF7, which is also expressed on the surface of myeloma cells. By binding to SLAMF7, elotuzumab enhances the immune system's ability to attack the cancer cells. It is approved for use in combination with lenalidomide and dexamethasone for the treatment of multiple myeloma.
  • Isatuximab (Sarclisa): Isatuximab is a monoclonal antibody that targets a protein called CD38, similar to daratumumab. By binding to CD38, isatuximab triggers the immune system to attack and destroy the cancer cells. It is approved for use in combination with pomalidomide and dexamethasone for the treatment of multiple myeloma.

Chemotherapy drugs

Chemotherapy drugs work by killing rapidly dividing cells, including cancer cells. Chemotherapy is often used in combination with other drugs, such as steroids, immunomodulatory drugs, or proteasome inhibitors, to improve their effectiveness. Here are some chemotherapy drugs used in multiple myeloma:

  • Melphalan: Melphalan is an alkylating agent that is commonly used in the treatment of multiple myeloma. It is used as a preventative measure before having a stem cell transplant to treat multiple myeloma. It works by damaging the DNA of cancer cells, leading to their death. Melphalan is often used in combination with other drugs, such as prednisone, to treat newly diagnosed multiple myeloma.
  • Cyclophosphamide: Cyclophosphamide works by damaging the DNA of cancer cells, leading to their death. Cyclophosphamide is often used in combination with other drugs, such as dexamethasone, to treat relapsed or refractory multiple myeloma. Cyclophosphamide inhibits cancer cell proliferation, causing the body to kill the cancer cells.
  • Doxorubicin: Doxorubicin works by inhibiting the synthesis of DNA and RNA, leading to the death of cancer cells. Doxorubicin is often used in combination with other drugs, such as bortezomib or dexamethasone, to treat newly diagnosed or relapsed/refractory multiple myeloma. Doxorubicin belongs to the anthracycline class of chemotherapeutic drugs, which also includes daunorubicin, idarubicin, and epirubicin.
  • Etoposide: Etoposide is a topoisomerase inhibitor chemotherapy drug that is used in the treatment of multiple myeloma. It works by inhibiting the activity of topoisomerase enzymes, which are necessary for DNA replication and repair. Etoposide is often used in combination with other drugs, such as cisplatin, to treat relapsed or refractory multiple myeloma. It works by reducing or preventing cancer cell proliferation in your body.

Steroids

Steroids such as dexamethasone and prednisone are often used in combination with other drugs to treat multiple myeloma. They can reduce inflammation, suppress the immune system, and promote the death of myeloma cells.

  • Dexamethasone: Dexamethasone works by reducing inflammation and suppressing the immune system. Dexamethasone is often used in combination with other drugs to treat relapsed or refractory multiple myeloma.
  • Prednisone: Prednisone works by suppressing the immune system and reducing inflammation. Prednisone is often used in combination with other drugs, such as chemotherapy, to treat newly diagnosed multiple myeloma.
  • Methylprednisolone: Methylprednisolone is a steroid that is similar to prednisone and is also used in the treatment of multiple myeloma. It works by suppressing the immune system and reducing inflammation. Methylprednisolone is often used in combination with other drugs to treat relapsed or refractory multiple myeloma.

Steroids are effective in reducing inflammation and suppressing the immune system, which can help to control the growth of myeloma cells. However, they can have side effects, such as weight gain, mood changes, and increased risk of infection, so their use needs to be carefully monitored.

Others

Other drug classes used to treat multiple myeloma include:

  • Histone deacetylase inhibitors- A new class of cytostatic drugs that suppress tumour cell proliferation in vitro and in vivo by inducing cell cycle arrest, differentiation, and/or apoptosis
  • Immune checkpoint inhibitors- Checkpoint proteins are produced by some immune system cells, such as T cells, as well as some cancer cells. These checkpoints prevent too aggressive immune responses and, in some cases, prevent T cells from destroying cancer cells.
  • Targeted therapies- Proteasome inhibitors are one type of targeted therapy for multiple myeloma. Proteasome inhibitors include bortezomib (Velcade), carfilzomib (Kyprolis), and ixazomib (Ninlaro). They target proteasomes, which are enzymes that breakdown proteins in cells.

 

 

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.​

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

  • Analyzing historical proprietary data collected from multiple projects.
  • Regularly updating our existing data sets with new findings and trends.
  • Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

  • Searching through academic conferences, published research, citations, and social media platforms
  • Collecting and compiling diverse data to build a comprehensive and detailed database
  • Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

  • Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
  • Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
  • Continuously refreshing our database to ensure that the information remains current and reliable.
  • Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

  • Merging historical data from secondary research with real-time data from primary research.
  • Conducting thorough data validation and cleansing to remove inconsistencies and errors.
  • Organizing data into a structured format that is easily accessible and usable for various applications.
  • Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.

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Last updated on: 27 September 2023
Updated by: Dhruv Joshi

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