What Has Been the Growth Trajectory for the Tyrosine Kinase Inhibitors Market in Recent Years?
The tyrosine kinase inhibitors market has seen considerable growth due to a variety of factors.
•In recent times, there has been robust expansion in the market size of tyrosine kinase inhibitors. It is projected to escalate from $58.03 billion in 2024 to around $63.25 billion in 2025, delivering a compound annual growth rate (CAGR) of 9.0%.
Factors that contributed to the growth during the historic period include the identification of tyrosine kinases, comprehension of cancer signaling pathways, the green light for imatinib (Gleevec), the clinical achievement of initial TKIs, and financial input in research and development.
How Does the Forecast Look for the Tyrosine Kinase Inhibitors Market?
The tyrosine kinase inhibitors market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for tyrosine kinase inhibitors is projected to experience robust growth in the upcoming years, reaching $88.74 billion in 2029 with a compound annual growth rate (CAGR) of 8.8%.
Growth in this period could be attributed to factors such as rising investments in healthcare, therapies driven by biomarkers, innovation in drug delivery, the precision medicine paradigm, and a sharp focus on pediatric oncology. Key trends during this forecast period include strategies to mitigate resistance, the development of CNS-penetrant tkis, applications beyond oncology, use of liquid biopsies for monitoring, and considerations related to health economy.
What Are The Leading Drivers Of Growth In The Tyrosine Kinase Inhibitors Market?
The escalating incidence of cancer is anticipated to stimulate the expansion of the tyrosine kinase inhibitors market in the future. Cancer typically embodies a wide array of diseases that originate in any organ or tissue in the body, characterized by the uncontrollable proliferation of abnormal cells that breach their usual confines to affect adjacent parts of the body and metastasize to other organs. Tyrosine kinase inhibitors are utilized in targeted therapy to identify and eliminate specific types of cancer cells by obstructing tyrosine kinases, which play a crucial role in inhibiting the proliferation of cancer cells. For example, the American Cancer Society, a nonprofit cancer advocacy organization based in the US, indicated in January 2023 that the count of cancer diagnoses escalated from 1,898,160 in 2021 to 1,958,310 in 2023, signifying a growth of 3.16%. Thus, the escalating incidence of cancer is propelling the expansion of the tyrosine kinase inhibitors market.
How Are The Segments Defined Within The Global Tyrosine Kinase Inhibitors Market?
The tyrosine kinase inhibitors market covered in this report is segmented –
1) By Type: BCR-ABL Tyrosine Kinase Inhibitor, Epidermal Growth Factor Receptor (EGFR) Tyrosine Kinase Inhibitors, Vascular Endothelial Growth Factor Receptor (VEGFR) Tyrosine Kinase Inhibitors, Other Types
2) By Distribution Channel: Hospital Pharmacy, Independent Pharmacies, Online Pharmacies
3) By Application: Chronic Myeloid Leukemia (CML), Lung Cancer, Breast Cancer, Renal Cell Cancer, Other Applications
Subsegments:
1) By BCR-ABL Tyrosine Kinase Inhibitor: Imatinib, Dasatinib, Nilotinib, Bosutinib, Ponatinib
2) By Epidermal Growth Factor Receptor (EGFR) Tyrosine Kinase Inhibitors: Gefitinib, Erlotinib, Afatinib, Osimertinib, Dacomitinib
3) By Vascular Endothelial Growth Factor Receptor (VEGFR) Tyrosine Kinase Inhibitors: Sorafenib, Sunitinib, Pazopanib, Axitinib, Regorafenib
4) By Other Types: Platelet-Derived Growth Factor Receptor (PDGFR) Inhibitors, RET Tyrosine Kinase Inhibitors, Fibroblast Growth Factor Receptor (FGFR) Inhibitors, Other Emerging Tyrosine Kinase Inhibitors
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How Are New Trends Expected To Influence The Growth Of The Tyrosine Kinase Inhibitors Market?
Product innovations are becoming a prominent trend in the tyrosine kinase inhibitor market. Many leading firms in this market are embracing new technologies in order to maintain their market standing. Xspray Pharma AB, a Swedish pharmaceutical firm, established an agreement in February 2023 with EVERSANA (a U.S based company specializing in life sciences services), to aid in the U.S. introduction and sale of its groundbreaking cancer treatment, Dasynoc. This treatment, tailored for those afflicted with chronic myeloid leukemia (CML) and acute lymphoblastic leukemia (ALL), serves as a unique form of treatment for CML and ALL patients, marking a significant improvement in the $3.5 billion U.S. Tyrosine Kinase Inhibitors market. As underlined by data shared at the 2022 ASH convention, Dasynoc, when compared to the use of a tyrosine kinase inhibitor (TKI) alone, greatly benefits CML patients with a 79% survival rate over five years when combined with a proton pump inhibitor (PPI) like omeprazole.
Who Are the Key Players in the Tyrosine Kinase Inhibitors Market?
Major companies operating in the tyrosine kinase inhibitors market include:
• Pfizer Inc.
• Johnson And Johnson Private Limited.
• F. Hoffmann-La Roche AG
• AbbVie Inc.
• Bayer AG
• Novartis AG
• Sanofi S.A.
• Bristol-Myers Squibb Company
• AstraZeneca Plc.
• GlaxoSmithKline plc
• Eli Lilly and Company
• Amgen Inc.
• Boehringer Ingelheim International GmbH
• Teva Pharmaceutical Industries Ltd.
• Regeneron Pharmaceuticals Inc.
• Astellas Pharma Inc.
• Eisai Co. Ltd
• Incyte Corporation
• Dr. Reddy's Laboratories Ltd.
• Exelixis Inc.
• Glenmark Pharmaceuticals Ltd
• Blueprint Medicines Corporation
• Rigel Pharmaceuticals Inc.
• Deciphera Pharmaceuticals LLC
• Epizyme Inc.
• Turning Point Therapeutics Inc.
• Kura Oncology Inc.
• ArQule Inc.
What Is The Most Dominant Region In The Tyrosine Kinase Inhibitors Market?
North America was the largest region in the tyrosine kinase inhibitors market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the tyrosine kinase inhibitors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
