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Plasma Cell Neoplasm Treatment Market Segmented By treatment type such as Radiation Therapy, Chemotherapy, Biologics or Targeted Therapy with disease indication such as Monoclonal Gammopathy of Undetermined Significance (MGUS), Lymphoplasmacytic Lymphoma, Plasmacytoma and Multiple Myeloma
Plasma cells are responsible for the development of antibodies in the immune system. Abnormal growth of plasma cells takes place in bone marrow and these cells start forming tumors, resulting in plasma cell neoplasms. Plasma neoplasm cells produce M protein instead of antibodies and causes the thickening of blood or damage to the kidney. According to the National Cancer Institute, there were 30,280 new cases of plasma cell neoplasms in 2016 in the U.S.
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Plasma cell neoplasm treatment market is expected to show a significant growth over the forecast period due to increasing geriatric population, as older population is more vulnerable to plasma cell neoplasms. Increasing funding on cancer research and various awareness campaigns by governments around the world is also expected to fuel the growth of the plasma cell neoplasm treatment market.
Continuous development of new therapies by the pharmaceutical companies and development of biologics treatment options are also expected to boost the growth of the plasma cell neoplasm treatment market. Increasing development of generics & biosimilars and limited coverage by insurance companies, especially in emerging markets, is expected to stall the growth of the plasma cell neoplasm treatment market. Government and regulatory bodies pressure to reduce the price of drugs is also expected to restrict the growth of the plasma cell neoplasm treatment market.
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The global plasma cell neoplasm treatment market is expected to show a significant growth over the forecast period. Increasing incidence owing to increasing geriatric population is expected to drive the growth in the plasma cell neoplasm treatment market. Increasing investment on the development of various therapeutics for plasma cell neoplasm treatment is expected to boost market growth.
Multiple myeloma segment is expected to be fastest growing disease indication segment due to the high mortality risk associated with this condition. Chemotherapy segment is expected to dominate the plasma cell neoplasm treatment market owning to availability of a significant number of products. But biologics treatment segment is expected to be fastest growing plasma cell neoplasm treatment segment owning to increasing approval and higher cost of therapy.
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Geographically, the global plasma cell neoplasm treatment market can be segmented into five major regions: North America, Latin America, Europe, Asia Pacific and Middle East & Africa. North America dominates the global plasma cell neoplasm treatment market and is expected to continue to do so over the forecast period due to better reimbursement policies and presence of key players in the region.
Asia Pacific region is expected to be fastest growing market for plasma cell neoplasm treatment market owning to the presence of large patient pool and increasing investment on providing better healthcare facilities, especially in Japan and China.
Some of the market participants in the global plasma cell neoplasm treatment market are, AbbVie, Inc., Amgen, Inc., Bristol-Myers Squibb Company, Celgene Corporation, Janssen Biotech, Inc., Millennium Pharmaceutical, Inc., Novartis AG, Spectrum Pharmaceutical, Inc. and Sun Pharmaceutical Industries Ltd. Most of the top players focus on the collaborative distribution strategy for cost saving and increasing presence in emerging market.
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