Market Research Report
Tyrosine Kinase Inhibitors Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||921960|
|Published||Content info||115 Pages
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|Tyrosine Kinase Inhibitors Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 115 Pages||
A tyrosine kinase is an enzyme that can transfer a phosphate group from ATP to a protein in a cell. A tyrosine kinase inhibitor (TKI) is a pharmaceutical drug that inhibits tyrosine kinases.
Recently, due to increasing prevalence of cancer incidence globally, the demand for novel therapies for treatment has increased. Theoretically, TKI, which is a small molecule, has many advantages over traditional therapies including ease of oral administration, and the ability to target multiple cellular survival pathways. As a result, many researches are being done in order to find cancer treatment theories which involve TKI. Many drugs involving this pathway are under development. These factors are expected to help the growth of the market.
However, high development cost leads to higher market price of the drug post-approval. Hence the cost of the drug has been restraining the market growth up to a certain extent.
Treatment for Chronic Myeloid Leukaemia is Expected to Dominate the Market
Chronic Myeloid Leukemia (CML) is a cancer of the white blood cells which is characterized by the increased and unregulated growth of myeloid cells in the bone marrow and the accumulation of these cells in the blood. The incidence of CML has increased over the course of past few decades as per a research by Taisen Hao et al., published in Nature Research Journal 2019. As per the reports CML cases increased from 4,300 cases in 1998 to 8,430 in 2018, up by 96%, in the United States.
CML is largely treated with targeted drugs called tyrosine-kinase inhibitors (TKIs) which have led to dramatically improved long-term survival rates since the early 2000s. These drugs have said to have revolutionized treatment of this disease by allowing most patients to have a good quality of life when compared to the former chemotherapy drugs.
Hence, with the growing incidence of CML, the market for tyrosine kinase inhibitors therapies is also expected increase.
North America is Expected to Dominate the Market
The North American countries including the United States (US) and Canada have a developed and well-structured health care system. These systems also encourage research and development, especially on Cancer. Many companies in these countries have been involved in cancer research. These policies have, hence, encouraged other global players to enter the US and Canada. As a result, these countries enjoy the presence of many global market players.
Moreover, the prevalence of cancer is also high in these countries. Prevalence of cancer in the United States (US) is one of the highest in the world. As per a 2018 report by the World Cancer Research Fund International, the prevalence of cancer in the US is 352.2 per 100,000. As per the same report, Canada also has a high prevalence of cancer with 334 per 100,000 Canadians suffering from the dreadful disease. This high prevalence of cancer has increased the economic burden of cancer of the population of this region.
Hence, as high demand is met by the presence of global players in the region, the market is further expected to increase.
Majority of the tyrosine kinase inhibitors therapies are being manufactured by the global key players. Market leaders with more funds for research and better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the rise of awareness. This has also helped the market grow at a significant rate.