The global Tyrosine Kinase Inhibitors Market was valued at US$ 18.3 Bn in 2017. It is projected to expand at a compound annual growth rate (CAGR) of 0.02% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Tyrosine Kinase Inhibitors Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. The report suggests that rising awareness about cancer diagnosis and treatment and expanding indications of existing & pipeline TKIs are expected to boost the tyrosine kinase inhibitors market in the near future.
North America and Europe are projected to dominate the global market owing to high prevalence and increase in incidence of cancer and the high rate of norms for drug import initiatives to attract healthcare providers and pharmaceutical companies in order to establish their base and drug pricing regulations, which are likely to drive growth of oncology market. This, in turn, is augmenting the tyrosine kinase inhibitors market in North America and Europe. The market in Asia Pacific is projected to witness expansion at a significant growth rate during the forecast period. Expansion of the market in Asia Pacific is attributed to high prevalence and increase in incidence rate of cancer and rise in health care expenditure in Asia Pacific. The market for tyrosine kinase inhibitors in Latin America is likely to expand at a moderate growth rate during the forecast period.
The global tyrosine kinase inhibitors market is projected to be potentially driven by the high prevalence and increase in incidence of cancer across the globe. Moreover, tyrosine kinase inhibitors were accepted largely due to specificity and efficacy and benefits over chemotherapy and radiotherapy. For instance, BCR-ABL TKIs, which were earlier approved for treating CML, are not indicated for treating acute lymphoblastic leukemia (ALL) and gastrointestinal tumors. Similarly, EGFR TKIs are approved for an array of indications such as pancreatic cancer, breast cancer, and non-small cell lung cancer.
Tyrosine kinase inhibitors manufacturing companies provide diverse features and benefits to cancer patients, from chemotherapy and radiotherapy treatment procedures, which can be utilized by physicians to treat cancer patients. Key players and researchers have invested to develop new and advanced tyrosine kinase inhibitors with less toxicity and adverse effects. Researchers are applying various approaches to tackle this issue such as modification of molecular structure and use of excipient. This is likely to introduce a new class of TKIs that offer better efficacy and safety. Companies are focusing on the development of tyrosine kinase inhibitors therapy by multi-targeting feature. Multi-kinase targeting TKIs offer better drug stability and patient acceptance such as Sorafenib (Nexavar), Cabozantinib (Cometriq), Axitinib (Inlyta) and under development TKIs such as TSU-68, Brivanib, and Cediranib (Recentin) are likely to augment the product life cycle and widen the application areas during the next few years.
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VEGFR tyrosine kinase inhibitors are projected to be more efficient in treating various soft cell sarcomas. Their multi-targeted kinase inhibitor activity is likely to augment their usage during the forecast period. Patent expiry of blockbuster BCR-ABL TKIs, availability of generics, and introduction of more efficient alternatives are likely to hamper the BCR-ABL TKIs segment during the forecast period. Hence, the use of VEGFR tyrosine kinase inhibitors for cancer treatment is likely to increase during the forecast period. However, vast applications of VEGFR TKIs in treating various types of cancers and their high efficacy are likely to augment the segment during the forecast period. Furthermore, several VEGFR TKIs are multi-targeted, which further expands their application areas and is likely to contribute to their off-label use for treating various types of cancers.
Lung cancer is the leading cause of death in the world. An estimated 1.8 million new cases of lung cancer are reported each year across the world. TKIs are preferred to treat non-small cell lung cancer, which accounts for 85% of the total lung cancer cases. Increase in incidence of lung cancer and introduction of new tyrosine kinase inhibitors for the treatment of non-small-cell lung carcinoma is likely to propel the segment during the forecast period.
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