According to FutureWise analysis the market for lenalidomide is expected to register a CAGR of 5.22% from 2023-2031.
The goal of lenalidomide is to reduce thalidomide's side effects, such as constipation, sedation, neuropathy, and thromboembolism, which limit its use. Lenalidomide is used to treat anemia in people with certain forms of myelodysplastic syndrome. In patients with multiple myeloma, lenalidomide and dexamethasone are used to treat the disease. As well as treating mantle cell lymphoma, it is also used to treat other cancers. Multiple myeloma is the primary indication for lenalidomide treatment. While multiple myeloma treatment has changed significantly in recent years, the disease remains incurable. Bone marrow cancers, such as multiple myeloma, start in the bone marrow. Myeloma cancer occurs when normal antibody-producing cells transform into cancerous myeloma cells, which produce abnormal immunoglobulin or antibodies known as monoclonal proteins. During the forecast period, the market for lenalidomide will likely be boosted by the increasing prevalence of multiple myeloma and the increasing demand for better treatment options.
Additionally, newly diagnosed patients with multiple myeloma have a lower chance of survival due to the delay in receiving treatment. As a result, the delay in diagnosis and treatment has affected the market for Lenalidomide medication used to treat multiple myeloma. Despite COVID's impact on the lenalidomide industry, normalcy has now returned to the market. Multiple myeloma prevalence is rising globally, there is an increase in awareness about the disease and its treatment, and healthcare facilities are improving. Patients with multiple myeloma are likely to have a higher demand for lenalidomide. Multiple myeloma patients usually take lenalidomide to treat their condition.
In a study published in the ASH Journal titled “Prolonged lenalidomide maintenance therapy improves the depth of response in multiple myeloma,” it was reported that 34.3% of minimal residual disease positive patients who were previously diagnosed with multiple myeloma had negative results after receiving lenalidomide treatment. These factors are contributing to the market's growth. Lenalidomide demand is increasing due to the high prevalence of multiple myeloma and myelodysplastic syndromes. Consequently, the prevalence of both diseases has resulted in a higher demand for lenalidomide to treat them. Risks and side effects associated with the medication can, however, limit future market growth. Additionally, patient awareness is expected to boost the market during the forecast period.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Lenalidomide Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Lenalidomide Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.