myeloma, mantle cell lymphoma and other types of cancer. It works by blocking the action of a protein complex called the proteasome. This helps stop the growth and spread of cancer cells and triggers their death. The global bortezomib market is expected to be driven by the rising prevalence of multiple myeloma worldwide.
Bortezomib Market Size And Trends is a type of blood cancer that forms in a type of white blood cells called plasma cells. The disease causes abnormal plasma cells to accumulate in the bone marrow, where they crowd out healthy blood cells. It is estimated that over 180,000 people are living with or in remission from multiple myeloma globally. According to the Global Burden of Disease Cancer Collaboration, there were 132,679 new cases of multiple myeloma and 87,080 deaths from the disease in 2020 worldwide.
The Global Bortezomib Market is estimated to be valued at US$ 24.54 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the bortezomib market are Hikma Pharmaceuticals, Pfizer, Meitheal Pharmaceuticals, Novartis International AG, Bristol Myers Squibb, NATCO Pharma, Teva Pharmaceuticals, Dr. Reddy's Laboratories, Gland Pharma, Shilpa Medicare, Qilu Pharmaceutical, Scion Pharmaceuticals, Farmhispania Group, Coresyn, Chem-Stone (Guangzhou), Hubei Honch Pharmaceutical, Vinkem Labs, Icrom, TAPI Teva, Chengdu Aslee Biopharmaceuticals. These players are focused on expanding their presence globally as well as developing new drug delivery formats to increase patient compliance.
The key opportunities in the Bortezomib Market Demand include rising preference for targeted cancer therapies over conventional chemotherapy, strong pipeline of therapeutic candidates for treating multiple myeloma and mantle cell lymphoma, and increasing generic drug approvals.
Geographically, North America dominates the global bortezomib market and is expected to continue its dominance form 2024-2031. However, Asia Pacific is anticipated to witness highest growth owing to growing healthcare
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