Kinase Inhibitors Market: Introduction
According to the report, the global kinase inhibitors market was valued at ~US$ 46.4 Bn in 2018 and is projected to expand at a CAGR of ~4% from 2019 to 2027. Kinase inhibitors are available in various types including non-receptor tyrosine kinase inhibitors, receptor tyrosine kinase inhibitors, multikinase inhibitors, serine/threonine kinase inhibitors, protein kinase C inhibitors, RHO kinase inhibitors, and others. Various applications of kinase inhibitors include oncology, inflammatory diseases, and others. Growth of the global kinase inhibitors market can be attributed to rise in awareness about kinase inhibitors and surge in product approvals and increase in incidence of cancer across globe.
North America dominated the global kinase inhibitors market in 2018 and the trend is anticipated to continue during the forecast period. Rise in awareness about new drugs for treatment and availability of all major companies in the region are anticipated to drive the market in North America. Asia Pacific is expected to be a highly lucrative market for kinase inhibitors, expanding at a higher CAGR during the forecast period.
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Increase in Incidence of Cancer, Rise in Awareness about Kinase Inhibitors, and Surge in Product Approvals to Drive Market
Cancer has a major impact on the society across the world. It is one of the leading causes of death across the globe and is more prevalent in developed and emerging markets. According to the American Cancer Society data, over 1.7 million new cancer cases are expected to be diagnosed in 2019 in the U.S. Awareness about cancer diagnosis and treatment is being spread across the globe. Governing bodies are also taking initiatives to provide access to health care to the public. Companies are taking initiatives to launch more products for the treatment. Intense drug discovery programs have led to the development of clinically effective kinase inhibitors. Since 2001, more than 10,000 patent applications for kinase inhibitors have been filed in the U.S. alone.
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Non-receptor Tyrosine Kinase Inhibitors to Witness High Demand
Based on type, the global kinase inhibitors market has been divided into non-receptor tyrosine kinase inhibitors, receptor tyrosine kinase inhibitors, multikinase inhibitors, serine/threonine kinase inhibitors, protein kinase C Inhibitors, RHO kinase inhibitors, and others. Non-receptor tyrosine kinase inhibitors is further segmented into Bruton’s tyrosine kinase (BTK) inhibitors, BCR-ABL, Janus kinase (JAK) inhibitor, mesenchymal epithelial transition growth factor (c-MET), spleen tyrosine kinase (SYK) inhibitors, and others. The receptor tyrosine kinase inhibitors segment is again divided into VEGFR, PDGFR, EGFR, ALK, HER2, and others.
The non-receptor tyrosine kinase inhibitors segment dominated the global kinase inhibitors market in 2018 and the trend is likely to continue during the forecast period. Rise in approvals of different types of non-receptor tyrosine kinase inhibitors fuels the segment growth. In November 2019, FDA approved Bruton’s tyrosine kinase (BTK) inhibitor zanubrutinib (Brukinsa) for patients with relapsed and refractory mantle cell lymphoma.
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Competition Landscape
Novartis AG, Pfizer, Johnson & Johnson, AstraZeneca, and Bristol-Myers Squibb are the leading players in the global kinase inhibitors market that hold majority of the market share. The global kinase inhibitors Market is fragmented in terms of number of players. Key players in the global market include Novartis AG, Pfizer, Johnson & Johnson, AstraZeneca, Bristol-Myers Squibb, Boehringer Ingelheim International GmbH, Bayer AG, F. Hoffmann-La Roche Ltd, and Eisai Co., Ltd. New product development through robust R&D activities and merger & acquisitions are the key strategies adopted by these players to operate their business in the global kinase inhibitors market
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