Market Trends of Global Lenalidomide Industry
This section covers the major market trends shaping the Lenalidomide Market according to our research experts:
The Multiple Myeloma segment is Expected to Hold a Major Market Share During the Forecast Period
Patients with multiple myeloma are predicted to have a higher demand for lenalidomide and hold a higher market. Mostly, lenalidomide is used for treating multiple myeloma patients. According to the study published in ASH Journal in May 2020, titled 'Prolonged lenalidomide maintenance therapy improves the depth of response in multiple myeloma,' stated 34.3% of minimal residual disease positive patients having multiple myeloma at the beginning resulted in negative after getting treatment of lenalidomide. Its growing market has prompted several large firms to develop it to capitalize on it. For instance, Teva Pharmaceutical Industries, in March 2022, announced the launch of its first generic version of lenalidomide capsules in 4 types that is 5mg, 10mg, 15mg, and 25mg in the United States. Also, MorphoSys, in March 2022, announced the temporary approval of tafasitamab in combination with lenalidomide for the treatment of relapsed large B-cell lymphoma in adults. Thus, the increasing number of multiple myeloma treatments and diagnoses has resulted in higher use of the lenalidomide medication leading to a significant contribution to the market growth.
North America Dominates the Market for Lenalidomide and is Expected to do the Same in the Forecast Period
In North America, the United States is expected to have the highest market and dominate the overall market. Major factors responsible for the increasing market growth are the higher prevalence of multiple myeloma and myelodysplastic syndromes and higher awareness in the population regarding the disease, and wanting better treatment options.
As per the statistics published in the American Cancer Society in January 2021, about 34,920 new cases were diagnosed in the United States, and 12,410 deaths were reported because of it, resulting in approximately 5% of the population suffering from multiple myeloma dying because of it. In 2020, 176,404 died of myeloma worldwide. According to Memorial Sloan Kettering Cancer Center 2022, titled 'Myelodysplastic Syndrome,' myelodysplastic syndromes affect 15000-20000 population of the United States, the majority of whom are over the age of 70.
As per the National Cancer Institute, the clinical trial started in December 2020, titled 'Testing the Addition of a New Drug, Daratumumab / rHuPH20, to the Usual Treatment (Lenalidomide) as Post-stem Cell Transplant Treatment for Multiple Myeloma, DRAMMATIC Study' that compares the effect of lenalidomide treatment to using daratumumab / rHuPH20 plus the lenalidomide treatment after stem cell transplantation in patients suffering from multiple myeloma.
Thus, these factors are expected to have had a positive impact on the growth of the market in North America and are expected to have a higher growth rate in the future.
