The UK Multiple Myeloma Therapeutics Market was valued at $217 Mn in 2022 and is estimated to expand at a CAGR of 2.5% from 2022 to 2030 and will reach $264 Mn in 2030. One of the main reasons propelling the growth of this Market is increase in chronic disease, aging population. The Market is segmented by type, drug and distribution channel. Some key players in this Market are Takeda, Amgen, Janssen-Cilag, Celgene, AstraZeneca and others.
The UK Multiple Myeloma Therapeutics Market was valued at $217 Mn in 2022 and is estimated to expand at a CAGR of 2.5% from 2022 to 2030 and will reach $264 Mn in 2030. Multiple Myeloma is an extremely rare blood cancer that develops in the bone marrow and affects the white blood cells of the plasma cells. White blood cells (WBCs) begin to multiply erratically in the bone marrow of a patient receiving multiple myeloma therapies. The UK multiple myeloma therapeutics market is a growing market, with increasing numbers of patients diagnosed with this disease each year. Multiple myeloma is the second most common type of blood cancer in the UK, with approximately 5,500 new cases diagnosed each year.
Market Dynamics
Market Growth Drivers
The number of patients diagnosed with multiple myeloma in the UK is increasing, driven in part by an ageing population and improvements in screening and diagnosis. According to Cancer Research UK, there were approximately 5,500 new cases of multiple myeloma diagnosed in the UK in 2018. There have been significant advancements in the development of new therapies for multiple myeloma, including targeted therapies, immunotherapies, and combination therapies. This has led to improved outcomes for patients and increased demand for these therapies. The UK has a well-established regulatory framework for the approval and reimbursement of new cancer drugs, which has facilitated the rapid uptake of new therapies in this market. The UK government has committed to increasing healthcare spending, which is expected to support the growth of the multiple myeloma therapeutics market in the coming years. There is a significant amount of research and development activities taking place in the field of multiple myeloma, with new therapies and treatment approaches in the pipeline. This is expected to drive growth in the market over the long term.
Market Restraints
The UK healthcare system is funded by the National Health Service (NHS), which has a limited budget for cancer drugs. This can restrict patient access to some treatments, particularly those with high costs. The cost of developing and bringing new therapies to market can be high, which can make it difficult for companies to recoup their investment and for patients to access these treatments. The multiple myeloma therapeutics market in the UK is becoming increasingly competitive, with a range of local and multinational companies vying for market share. This can make it challenging for smaller companies to establish themselves in the market. The UK's decision to leave the European Union has created some uncertainty around the regulatory environment for new drugs, particularly in relation to the approval process and intellectual property rights. The COVID-19 pandemic has had a significant impact on healthcare systems around the world, including in the UK. The disruption to healthcare services and clinical trials, as well as the shift in focus towards treating COVID-19 patients, could impact the development and uptake of new therapies for multiple myeloma.
Key Players
The healthcare policy and regulatory framework in the UK multiple myeloma therapeutics market is overseen by the Medicines and Healthcare products Regulatory Agency (MHRA) and the National Institute for Health and Care Excellence (NICE). The MHRA is responsible for regulating medicines and medical devices in the UK, including the approval and licensing of new drugs for multiple myeloma. The agency reviews clinical trial data and assesses the safety, efficacy, and quality of new drugs before they can be approved for use in the UK.
NICE is responsible for providing guidance on the use of new drugs and treatments within the National Health Service (NHS). The agency evaluates the cost-effectiveness of new drugs and determines whether they should be made available to NHS patients. NICE's guidance is influential in determining whether new drugs are adopted by the NHS.
In addition to these regulatory bodies, the UK government has implemented several healthcare policies that impact the multiple myeloma therapeutics market. For example, the Cancer Drugs Fund was established to provide patients with access to cancer drugs that are not routinely funded by the NHS. The fund has supported the availability of several multiple myeloma therapies.
The UK's healthcare system, the NHS, provides universal healthcare coverage to all citizens and residents of the UK. The NHS covers the cost of most cancer treatments, including multiple myeloma therapeutics. However, there are some drugs that are not funded by the NHS, and patients may need to seek alternative funding sources or private insurance to access these treatments.
The reimbursement scenario for multiple myeloma therapeutics in the UK is largely determined by the National Institute for Health and Care Excellence (NICE), which is responsible for assessing the clinical and cost-effectiveness of new drugs and technologies. NICE evaluates drugs using a cost-effectiveness threshold called the Quality-Adjusted Life Year (QALY), which assesses the value of a treatment based on the cost per year of life gained, adjusted for the quality of life. If a new therapy is deemed cost-effective, it is recommended for use by the NHS and reimbursement is provided.
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
By Treatment
By Distribution Channel
By End User (Revenue, USD Bn):
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:
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:
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:
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:
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.
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:
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