Particularly at the forefront of modern day multiple myeloma therapy are Thalomid, Revlimid, and Velcade—all fostering an unprecedented growth in the U.S. multiple myeloma market by generating millions in revenues. Thus, other early-stage development drugs hoping to emulate the success of the recent launches are likely to require partnerships to complete their development cycle.
New analysis from Frost & Sullivan (pharmaceutical.frost.com), U.S. Multiple Myeloma Market, reveals that revenues in this market totaled $930 million in 2006, and estimates this to reach $3.23 billion in 2013.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants an overview of the latest analysis of the U.S. Multiple Myeloma Market, then send an email to Melina Trevino - Corporate Communications at melina.trevino[.]frost.com with the following information: your full name, company name, title, telephone number, email address, city, state, and country. We will send you the information via email upon receipt of the above information.
“The introduction of Thalomid, Velcade and most recently Revlimid are producing record survival rates for patients with multiple myeloma, creating hope the disease will one day be chronically treated,” notes Frost & Sullivan Industry Analyst Jason McKinnie. “Additionally, these drugs are generating millions in revenues, helping the market grow at double-digit rates that attract new companies and continued research.”
Companies with products in the market and in development are hoping that new agents in combination with older agents will eventually lead to the treatment of myeloma as a chronic disease, or potentially extend survival by ten years or more. While this goal cannot be achieved in the immediate future, the increased response rates garnered by new agents have the potential to prevent the disease from progressing rapidly or too severely. Using combination therapy, longer progression-free survival will translate into increased revenues for not just a few companies, but a wide range of them.
Other the other hand, the lack of business development remains a major challenge confronting participants in the U.S. multiple myeloma market. There is a growing need to attract big pharmaceutical and biotechnology companies to help facilitate development in a disease that is growing more complex to treat.
“Treatment for multiple myeloma is becoming multifaceted with the recent entrance of new drugs, says McKinnie. “As a result, clinical trials are likely to increase in complexity, thereby creating additional costs. Given this, business development is of tremendous assistance to smaller companies in speeding up clinical trials and testing.”
While there are numerous drugs in the pipeline being developed by mostly smaller companies, the complexity of clinical trials could require small companies to obtain additional resources to continue development. Hence, smaller companies should analyze their needs and seek out mid-sized or larger companies for partnership in order to ensure enough resources for continued development. Well-designed preclinical tests, as well as significant responses in phase I trials, are likely to help attract larger pharmaceuticals and biotechnology companies.
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Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective, and combines ongoing analysis of markets, technologies, econometrics, and demographics.