Lenalidomide Market Share, Size, Trends, Industry Analysis Report, By Type (5mg,10mg,15mg,25mg); By Application; By End-User; By Dosage; By Region; Segment Forecast, 2024 - 2032
- Published Date:Feb-2024
- Pages: 118
- Format: PDF
- Report ID: PM4437
- Base Year: 2023
- Historical Data: 2019 – 2022
Report Outlook
Lenalidomide Market size was valued at USD 10.39 billion in 2023. The market is anticipated to grow from USD 10.86 billion in 2024 to USD 15.67 billion by 2032, exhibiting the CAGR of 4.7% during the forecast period.
Market Overview
The increasing research innovations in the pharmaceutical space to innovate new therapies and medications for existing diseases, primarily cancer, are highly supporting the growth of the lenalidomide market in the world. Furthermore, lenalidomide is used to treat people suffering from low blood cells. The rising anemic people in the world is expected to fuel its demand. Additionally, growing research advancements in this area are likely to stimulate the lenalidomide market in the long run.
- For instance, in December 2023, the results of the phase 3 trial of a research study funded by the European Myeloma Network along with Janssen Research and Development suggested that multiple myeloma patients who received daratumumab in combination with lenalidomide, dexamethasone (VRd), and bortezomib showed superior results in terms of efficacy compared to those who took VRd alone.
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Moreover, the prevalence of cancer cases at the global level is showcasing the need for suitable drug medication. According to the pharmaceutical company Johnson & Johnson, the number of cases of blood cancer in the world has risen by more than 125% since 1990. There will be a significant demand for lenalidomide in the foreseeable future, as this trend continues further.
However, a limited number of companies having patent rights to produce lenalidomide due to the stringent regulations and control over lenalidomide quantity is expected to cause supply chain disruptions in the world.
Growth Drivers
The rising incidence of multiple myeloma
The rising penetration of multiple myeloma cases among the global population is boosting the demand for lenalidomide. The growing environmental pollution with increasing radiation, and release of harmful chemicals from industrial activities are leading factors causing myeloma. According to the available data, around 35,730 adults in the United States are expected to suffer from multiple myeloma in 2023. This will certainly drive the demand for lenalidomide.
The increasing research studies on developing new ways of having lenalidomide
Pharmaceutical firms and researchers are highly interested in exploring new ways of consuming lenalidomide, apart from oral. In January 2024, Starton Therapeutics announced the positive results of its STAR-LLD Phase 1b clinical trials for multiple myeloma. It tested the effectiveness of administration of low-dose lenalidomide through subcutaneous drugs along with bortezomib and dexamethasone. The results of the study are expected to come in the third quarter of 2024. This ongoing research initiatives are expected to drive new growth opportunities for the lenalidomide market.
Restraining Factors
Higher costs of drug development
The increasing knowledge about lenalidomide side-effects, such as an irregular heartbeat, thrombosis, chest pain, bleeding gums, and more, are expected to negatively impact the growth of lenalidomide during the forecast timeframe. Furthermore, the higher initial costs of drug development and competition from generic medicines are expected to hinder lenalidomide market growth in the long run.
Report Segmentation
The market is primarily segmented based on type, application, end-user, dosage, and region.
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By Type |
By Application |
By End-User |
By Dosage |
By Region |
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By Type Analysis
10mg segment is expected to witness the highest growth during the forecast period
The 10mg segment is likely to grow at a higher CAGR during the study period, primarily driven by its flexibility in dosage. In some cases, doctors are required to test the patient's condition for cancer and are likely to initially offer a lower dose to avoid overdose consequences. This is boosting the consumption of 10mg dose myeloma. Furthermore, the emergence of combination therapies in the marketplace and ongoing research activities are positively driving segmental growth, as this task necessitates the need for lower-dose drugs.
The 15-mg segment led the industry market with optimal revenue share in 2023, largely attributable to its ability to assist doctors in planning optimized treatment dosages for patients.
By Application Analysis
Multiple Myeloma segment accounted for the largest market share in 2023
The multiple myeloma segment accounted for the largest market share in 2023 and is expected to enhance its market position throughout the study period. The rising prevalence of cancer cases, primarily multiple myeloma, and the superior performance of lenalidomide in treating these diseases are boosting lenalidomide market growth. A 2023 study published in Spandidos publications reviewed the potential capability of this drug in cancer myeloma treatment.
By End-User Analysis
Hospital segment held the significant market revenue share in 2023
The hospital segment held a significant market share in revenue in 2023, which is highly accelerated due to the continuous rise in the number of cancer patients taking admissions. The increased awareness about cancer, primarily blood cancer, is driving doctor consultations and boosting demand for lenalidomide by healthcare providers.
By Dosage Analysis
Capsule segment witnessed a dominant share in the global market in 2023
The capsule segment registered the dominant share in the world market in 2023 and is projected to continue its growth trajectory over the study period. The dosage mostly depends on its formulation, doctor consultation, available medication, and process of production. However, most of the major players are offering capsules due to their higher solubility. The increased accessibility of lenalidomide capsules is a driving factor in this segmental growth.
Regional Insights
North America region registered the largest share of the global market in 2023
The North America region held the dominant share in 2023. The growth of the market can be largely attributed to the presence of larger players in the lenalidomide market. For instance, in September 2022, Dr. Reddy Laboratories Ltd. introduced Revlimid capsules (lenalidomide)in the United States after receiving approval from US Food and Drug Administration (USFDA). The increasing number of companies entering this market is one of the major factors contributing to the larger market share in the global market.
The Asia Pacific region is expected to be the fastest growing region with a higher CAGR during the forecast period, owing to the growing prevalence of cancer cases in the region. Cancer is one of the major causes of mortality in the world, with around ten million deaths. As per WHO South-East region report, there are estimated 2.2 million new cancer cases and 1.4 million cancer-related death rates, contributing to more than 1 in 10 deaths in the region. There will be significant demand potential in the future, with the growing cancer cases in the region.
Key Market Players & Competitive Insights
Strategic expansion activities to drive the competition
The lenalidomide market is moderately competitive. The rising strategic collaborations, expansion activities, and settlements in patent licensing among the major players are anticipated to witness significant growth during the forecast timeframe. For instance, in September 2022, Zydus unveiled lenalidomide capsules in the United States.
Some of the major players operating in the global market include:
- Ablynx (Belgium)
- Actiza (India
- Celgene (US)
- Celltrion (South Korea)
- Dexa Medical (Indonesia)
- Exova (UK)
- LEO Pharma (Denmark)
- Natco Pharma (India)
- Toyama Chemical (Japan)
Recent Developments in the Industry
- In September 2022, Lotus introduced lenalidomide capsules in 14 European countries through its partners and expected to unveil them in more than 90 countries along with its commercial network around the world by 2024.
- In February 2022, Sandoz, a manufacturer of generic drugs, unveiled lenalidomide in 19 more countries in Europe.
Report Coverage
The lenalidomide market report emphasizes on key regions across the globe to provide better understanding of the product to the users. Also, the report provides market insights into recent developments, trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.
The report provides detailed analysis of the market while focusing on various key aspects such as competitive analysis, type, application, end-user, dosage, and their futuristic growth opportunities.
Lenalidomide Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 10.86 billion |
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Revenue forecast in 2032 |
USD 15.67 billion |
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CAGR |
4.7% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
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Regional scope |
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Competitive Landscape |
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Report Format |
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Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
FAQ's
The global lenalidomide market size is expected to reach USD 15.67 billion by 2032
Key players in the market are Ablynx, Actiza, Celgene, Celltrion, Dexa Medical, Exova, LEO Pharma
North America contribute notably towards the global Lenalidomide Market
Lenalidomide Market exhibiting the CAGR of 4.7% during the forecast period.
The Lenalidomide Market report covering key segments are type, application, end-user, dosage and region.
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