The Global Monoclonal Gammopathy Of Undetermined Significance (MGUS) Management Industry is on an upward trajectory, projected to reach a market value of US$ 27 million in 2023 and expected to soar to US$ 53.11 million by 2033. These promising figures, driven by a robust Compound Annual Growth Rate (CAGR) of 7% during the forecast period, reflect a dynamic landscape for MGUS management.
In the historical period from 2018 to 2022, the market witnessed substantial growth with a CAGR of 4%, laying a solid foundation for the anticipated acceleration in the coming decade.
The significance of these projections is underscored by the context of prevailing health challenges, particularly in the realm of leukemia. According to estimates by the American Cancer Society in January 2022, approximately 60,650 new cases of leukemia were reported, resulting in 24,000 deaths. Among these, 11,450 deaths were attributed to acute myeloid leukemia in the United States in 2022 alone.
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As a result of positive growth, various start-ups are entering the market. For instance, Orca Bio is a developer of allogeneic cell therapy for the treatment of blood, genetic, and immune diseases. The company uses its proprietary OrcaSort technology to isolate and purify stem cells and immune cells used in hematopoietic cell grafts. The technology is optimized for performance and is designed to fit seamlessly into the clinical processing of apheresis products, providing a scalable and high-precision manufacturing platform.
North America is anticipated to acquire a market share of about 40% in the forecast period. This growth is attributable to the rising prevalence of the condition in the region. Furthermore, government initiatives and an increase in the number of research partnerships are boosting market growth across North America. Asia Pacific is a growing market due to a shift towards point-of-care healthcare. The increasing number of hospitals in India and China presents a promising market opportunity globally.
Key Takeaways from the Global Monoclonal Gammopathy of Undermined Significance (MGUS) Management Industry Study
- From 2018 to 2022, the monoclonal gammopathy of undetermined significance management market grew at a CAGR of 4%.
- The global monoclonal gammopathy of undetermined significance management market is expected to grow with a 7% CAGR from 2023 to 2033.
- As of 2033, the monoclonal gammopathy of undetermined significance management market is expected to reach US$ 53.11 Million
- According to the FMI analysis, hospitals account for the largest market share.
- North America is expected to possess a 40% market share in the Monoclonal gammopathy of undetermined significance management market.
- The Asia Pacific market is predicted to increase significantly throughout the forecast period, with a share of 20% during the forecast period.
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“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fuelling further clinical trials and research studies dedicated to discovering monoclonal gammopathy of undetermined significance management.” says an FMI analyst
Global Monoclonal Gammopathy of Undermined Significance (MGUS) Management Industry Competition
Key players in the market include pharmaceutical companies such as Janssen Biotech, Inc., Pfizer, Inc., Amgen, Inc., Roche Holding AG, Celgene Corporation (Acquired by Bristol-Myers Squibb), Novartis AG, Merck & Co., Inc., Sanofi S.A, Takeda Pharmaceutical Company Limited and Gilead Sciences, Inc. along with healthcare providers and technology companies among other global players.
- In January 2022, Kura Oncology, Inc. announced that the U.S. Food and Drug Administration (FDA) has lifted the partial clinical hold on their KOMET-001 Phase 1b study of the drug KO-539 for the treatment of relapsed or refractory acute myeloid leukemia (AML). This allows the company to proceed with the study to evaluate the safety and efficacy of KO-539 in patients with AML.
More Insights Available
FMI, in its new offering, presents an unbiased analysis of the global Monoclonal gammopathy of undetermined significance management market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights based on drug class (alendronate, risedronate, ibandronate, and zoledronic acid), diagnosis (blood tests, urine tests, imaging tests, and bone marrow tests), distribution channel (hospital pharmacies, and retail pharmacies), and end users (hospitals and specialty centers) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
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Key Segments Profiled in the Global Monoclonal Gammopathy of Undermined Significance (MGUS) Management Industry Survey
Drug Class:
- Alendronate
- Risedronate
- Ibandronate
- Zoledronic Acid
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Diagnosis:
- Blood Tests
- Urine Tests
- Imaging Tests
- Bone Marrow Tests
End Users:
- Hospitals
- Speciality Centers
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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