(MENAFN- GlobeNewsWire - Nasdaq) The Global Lenalidomide Drug market Size was Valued at USD 12.34 Billion in 2023 and the Worldwide Lenalidomide Drug Market Size is Expected to Reach USD 21.47 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Celgene Corporation (Acquired by Bristol Myers Squibb), Natco Pharma Limited, Mylan N.V., Dr. Reddy's Laboratories Ltd., Cipla Ltd., Sun Pharmaceutical Industries Ltd., LUPIN, Glenmark Pharmaceuticals, Accord Healthcare, Strides Pharma Science Limited, Hetero Drugs Limited, Teva Pharmaceutical Industries Ltd., Alkem Laboratories, Aurobindo Pharma Ltd., Novartis International AG., and other key companies.
New York, United States , June 19, 2024 (GLOBE NEWSWIRE) -- The Global Lenalidomide Drug Market Size is to Grow from USD 12.34 Billion in 2023 to USD 21.47 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.69% during the projected period.
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Lenalidomide is one therapy for adult myelodysplastic syndromes (MDS). This medication is also used to treat multiple myeloma, follicular lymphoma, large cell lymphoma, and marginal zone lymphoma. Lenalidomide not only boosts immunity against cancer but also slows the disease's development and stops tumours from sprouting new blood vessels. Market demand for lenalidomide is fuelled by the drug's shown effectiveness in treating numerous myelodysplastic syndromes including myeloma, as well as its adaptability to a range of haematological disorders and continuous research-driven improvement. Lenalidomide is a vital medication in cancer therapies, and the demand for its effective treatment options is sustained by these considerations taken together. One major factor driving the market expansion has been the rising usage of lenalidomide medicine due to the rise in multiple myeloma diagnoses and treatments. The increasing incidence of multiple myeloma worldwide, increased knowledge of the condition and its treatments due to the growing need for improved treatment alternatives, and advancements in healthcare facilities are the main drivers driving the market's expansion. One major factor contributing to the rising demand for lenalidomide is the increased frequency of both myelodysplastic syndromes and multiple myeloma. The need for this treatment is being further fuelled by the worldwide aging population, which is a key demographic component associated with various hematological illnesses. However, certain factors, such as stringent regulatory requirements and potential adverse side effects, will likely hamper the lenalidomide market.
Browse key industry insights spread across 220 pages with 110 Market data tables and figures & charts from the report on the " Global Lenalidomide Drug Market Size, Share, and COVID-19 Impact Analysis, By Type (5mg, 10mg, 15mg, 25mg), By Application (Multiple Myeloma (MM), Myelodysplastic Syndromes (MDS), and Others), By End User (Hospitals, Cancer Treatment Centres, Research Institute), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The 10mg is anticipated to hold the largest share of the global lenalidomide drug market during the projected timeframe.
Based on the type, the global lenalidomide drug market is divided into 5mg, 10mg, 15mg, 25mg. Among these, 10mg is anticipated to hold the largest share of the global lenalidomide drug market during the projected timeframe. These capsules are frequently utilized in medical treatments since they give patients a consistent and efficient dosage. This category is the industry leader and a preferred choice for patients and healthcare providers due to its ability to strike a balance between potency and controlled administration.
The multiple myeloma (MM) is anticipated to grow at the greatest share in the global lenalidomide drug market during the projected timeframe.
Based on the applications, the global lenalidomide drug market is divided into multiple myeloma (MM), myelodysplastic syndromes (MDS), and others. Among these, multiple myeloma (MM) is anticipated to grow at the fastest pace in the global lenalidomide drug market during the projected timeframe. It has been demonstrated that lenalidomide is highly beneficial in the treatment of multiple myeloma (MM), a cancer that originates in plasma cells. As such, the MM application holds a sizable share of the lenalidomide market. Owing to its beneficial effects and effective handling of multiple myeloma, the drug has been recognized as an important player in the fight against cancer.
The hospital segment is predicted to grow at the highest share in the global lenalidomide drug market estimated period.
Based on the end user, the global lenalidomide drug market is divided into hospitals, cancer treatment centers, and research institutes. Among these, the hospitals segment is predicted to grow at the highest share in the global lenalidomide drug market estimated period. Hospitals are essential for treating complex hematological diseases and acting as primary care providers.
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North America is expected to hold the largest share of the global lenalidomide drug market over the forecast period.
North America is expected to hold the largest share of the global lenalidomide drug market over the forecast period. The greater frequency of multiple myeloma and myelodysplastic syndromes, as well as increased public knowledge of the illness and need for improved treatment choices, are major drivers driving the market's grow. The pharmaceutical industry in the U.S also invests heavily in RD and clinical trials. This has helped establish North America as a strategic hub for new drug development and innovation. Lenalidomide being a breakthrough drug for lymphoma and myeloma treatment has benefited significantly. With a large patient phool and rapidly aging population, the region provides steady market for drugs targeting such a life-threatening disease.
Asia Pacific is predicted to grow at the fastest pace in the global lenalidomide drug market during the projected timeframe. In this area, the market is developing primarily due to a number of factors, including rising cancer prevalence, new product launches, and regulatory approvals. For instance, in march 2023 Aurobindo pharmaceutical company, announced that its wholly owned subsidiary company, Eugia pharma specialists limited has received final approval from the US food and drug administration to manufacture and market lenalidomide capsules, 2.5mg, 5mg, 10mg, 15mg, 25mg, which is bioequivalent and therapeutically equivalent to the reference listed drug, Revlimid capsules, 2.5mg, 5mg, 10mg, 15mg, 25mg, of Bristol-Mayers squibb company.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global lenalidomide drug market include Celgene Corporation (Acquired by Bristol Myers Squibb), Natco Pharma Limited, Mylan N.V., Dr Reddy's Laboratories Ltd., Cipla Ltd., Sun Pharmaceutical Industries Ltd., LUPIN, Glenmark, Pharmaceuticals, Accord Healthcare, Strides Pharma Science Limited, Hetero Drugs Limited, Teva Pharmaceutical Industries Ltd., Alkem Laboratories, Aurobindo Pharma Ltd., Novartis International AG., Others.
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Recent Developments
In September 2022 , Cipla Limited received final approval from the U.S. FDA for its Abbreviated New Drug Application (ANDA) for lenalidomide capsules in 5 mg, 10 mg, 15 mg, and 25 mg strengths. These capsules are recognized as the AB-rated therapeutic equivalent generic version of Bristol Myers Squibb's Revlimid (lenalidomide) Capsules.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Lenalidomide Drug Market based on the below-mentioned segments:
Global Lenalidomide Drug Market, By Type
Global Lenalidomide Drug Market, By Application
Multiple Myeloma (MM) Myelodysplastic Syndromes (MDS) Others
Global Lenalidomide Drug Market, By End User
Hospitals Cancer Treatment Centres Research Institute
Global Lenalidomide Drug Market, Regional Analysis
North America Europe Germany Uk France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of the Middle East & Africa
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About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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