Market Size of Global Lenalidomide Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Lenalidomide Market Analysis
The Lenalidomide market studied is expected to witness an estimated CAGR of 5.0% over the forecast period (2022-2027).
Due to the COVID-19 outbreak, the market has shown a slight decline because of the postponing of multiple myeloma treatment and its diagnosis. For instance, as per the article published in Blood Cancer Journal in December 2021, titled "Impact of COVID-19 in patients with multiple myeloma based on a global data network", the number of new cases diagnosed in 2020 was less than the cases in 2019 and more than 15% of patients have not been diagnosed. Also, the survival of newly diagnosed patients with multiple myeloma is reduced because of the delay in getting treatment. Hence, the delay in diagnosis and treatment has impacted the market for Lenalidomide medication which is used for the treatment of multiple myeloma. Even though COVID has had an impact on the lenalidomide industry, normalcy has now increased in the market.
The major factors increasing the market's growth are the rising prevalence of multiple myeloma globally, higher awareness of the disease and its treatment with the rise in demand for better treatment options, and improving healthcare facilities. The high prevalence of multiple myeloma and myelodysplastic syndromes has a significant impact on the increasing demand for lenalidomide. As per the article published in the National Library of Medicine in May 2020, titled "Multiple Myeloma Incidence and Mortality Around the Globe; Interrelations Between Health Access and Quality, Economic Resources, and Patient Empowerment," the incidence of multiple myeloma globally is 160,000 and mortality are 106,000. Multiple myeloma is responsible for 10% of all hematological cancers. On the other hand, according to the Myelodysplastic Syndromes Foundation, 87,000 new instances of myelodysplastic syndrome are diagnosed each year in the United States, with 75% of those diagnosed being over the age of 60. A total of about 30% of the patients develop acute myeloid leukemia. Thus, the increase in the prevalence of both diseased patients has resulted in a higher demand for lenalidomide for the treatment of these diseases. However, the risk and side effects of the medication can be a restraining factor in future market growth.
Lenalidomide Industry Segmentation
As per the scope of this report, lenalidomide sold under the trade name Revlimid is a medication that is taken orally and is used to treat diseases such as multiple myeloma, myelodysplastic syndromes, and smoldering myeloma. Lenalidomide Market is segmented by application (multiple myeloma, myelodysplastic syndrome, and others), end-user (hospitals, cancer treatment centers, research institutes), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Application | |
| Multiple Myeloma | |
| Myelodysplastic syndromes | |
| Others |
| By End User | |
| Hospitals | |
| Cancer Treatment Centers | |
| Research Institutes |
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Global Lenalidomide Market Size Summary
The Lenalidomide market is poised for steady growth, driven by the increasing prevalence of multiple myeloma and myelodysplastic syndromes globally. Despite a temporary decline due to the COVID-19 pandemic, which delayed diagnoses and treatments, the market is recovering as normalcy returns. The rising awareness of these diseases and the demand for effective treatment options are significant factors propelling market expansion. Lenalidomide, primarily used for treating multiple myeloma, has seen heightened demand due to its effectiveness in improving patient outcomes. The market's growth is further supported by advancements in healthcare facilities and the introduction of generic versions by major pharmaceutical companies, which have made the medication more accessible.
North America, particularly the United States, is expected to dominate the Lenalidomide market, attributed to the high prevalence of multiple myeloma and myelodysplastic syndromes in the region. The market is moderately competitive, with several key players like Sandoz, Teva Pharmaceuticals, and Dr. Reddy's Laboratories holding significant shares. The introduction of generics and collaborations for new treatment combinations are expected to enhance market dynamics. As the incidence of these diseases continues to rise, the Lenalidomide market is anticipated to experience sustained growth, with ongoing developments in treatment options and increased patient access contributing to its expansion.
Global Lenalidomide Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increase in Prevalence of Myeloma
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1.2.2 Rise in Demand for Better Treatment Options
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1.3 Market Restraints
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1.3.1 Side effects and high cost of medication
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Application
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2.1.1 Multiple Myeloma
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2.1.2 Myelodysplastic syndromes
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2.1.3 Others
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2.2 By End User
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2.2.1 Hospitals
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2.2.2 Cancer Treatment Centers
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2.2.3 Research Institutes
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle-East and Africa
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2.3.4.1 GCC
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2.3.4.2 Saudi Africa
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2.3.4.3 Rest of Middle-East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Lenalidomide Market Size FAQs
What is the current Global Lenalidomide Market size?
The Global Lenalidomide Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in Global Lenalidomide Market?
Sandoz , Dr. Reddy’s Laboratories , BRISTOL-MYERS SQUIBB COMPANY (Celgene), Teva Pharmaceuticals and Cipla are the major companies operating in the Global Lenalidomide Market.
