Market Size of Global Lenalidomide Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Lenalidomide Market Analysis
The Lenalidomide market studied is expected to witness an estimated CAGR of 5.0% over the forecast period (2022-2027).
Due to the COVID-19 outbreak, the market has shown a slight decline because of the postponing of multiple myeloma treatment and its diagnosis. For instance, as per the article published in Blood Cancer Journal in December 2021, titled "Impact of COVID-19 in patients with multiple myeloma based on a global data network", the number of new cases diagnosed in 2020 was less than the cases in 2019 and more than 15% of patients have not been diagnosed. Also, the survival of newly diagnosed patients with multiple myeloma is reduced because of the delay in getting treatment. Hence, the delay in diagnosis and treatment has impacted the market for Lenalidomide medication which is used for the treatment of multiple myeloma. Even though COVID has had an impact on the lenalidomide industry, normalcy has now increased in the market.
The major factors increasing the market's growth are the rising prevalence of multiple myeloma globally, higher awareness of the disease and its treatment with the rise in demand for better treatment options, and improving healthcare facilities. The high prevalence of multiple myeloma and myelodysplastic syndromes has a significant impact on the increasing demand for lenalidomide. As per the article published in the National Library of Medicine in May 2020, titled "Multiple Myeloma Incidence and Mortality Around the Globe; Interrelations Between Health Access and Quality, Economic Resources, and Patient Empowerment," the incidence of multiple myeloma globally is 160,000 and mortality are 106,000. Multiple myeloma is responsible for 10% of all hematological cancers. On the other hand, according to the Myelodysplastic Syndromes Foundation, 87,000 new instances of myelodysplastic syndrome are diagnosed each year in the United States, with 75% of those diagnosed being over the age of 60. A total of about 30% of the patients develop acute myeloid leukemia. Thus, the increase in the prevalence of both diseased patients has resulted in a higher demand for lenalidomide for the treatment of these diseases. However, the risk and side effects of the medication can be a restraining factor in future market growth.
