Kinase Inhibitors Market Growth Accelerated by The Increased Prevalence of Cancer, Projected to Reach US$ 93.0 Billion by 2031: Growth Plus Reports Study
Growth Plus Reports
6 min read
Growth Plus Reports
Newark, New Castle, USA, March 30, 2023 (GLOBE NEWSWIRE) -- The global kinase inhibitors market is expected to reach US$ 93.0 billion by 2031, with a revenue CAGR of 6.20%, according to a new Growth Plus Reports research. The research looks at critical tactics, trends, opportunities, competition, industry dynamics, market size, statistics and projections, and key investment territories.
Key Takeaways:
The increasing prevalence of orthopedic disorders will drive market revenue growth.
The increasing need for personalized and targeted medicines will drive demand for kinase inhibitors.
North America dominates the global kinase inhibitors market.
Type, Application, Distribution Channel, and Region.
Regional scope
North America, Europe, Asia Pacific, and the Rest of the World (ROW)
Market Drivers The rising prevalence of cancer and other chronic diseases, improved cancer diagnosis techniques, and the number of clinical trials for cancer treatment will drive the revenue growth of the kinase inhibitors market. Furthermore, technological advancements in the pharmaceutical sector, increased R&D investment for cancer therapy, and the growing need for personalized medicine and targeted medicines will boost the market revenue growth rate.
Market Segmentation Growth Plus Reports has analyzed the global kinase inhibitors market from four perspectives: Type, Application, Distribution Channel, and Region.
Type Segmentation: Based on the type, the kinase inhibitors market is segmented into tyrosine kinase inhibitors, multi-kinase inhibitors, mTOR Kinase Inhibitors, serine/threonine kinase inhibitors, protein kinase inhibitors, and others. The tyrosine kinase inhibitors segment dominates the market with the largest revenue share because they are involved in various cellular activities such as cell signaling, growth, and division and help prevent the development of cancer cell growth.
Application Segmentation: Based on the application, the kinase inhibitors market is segmented into oncology, inflammatory diseases, and others. The oncology segment is further sub-segmented as lung cancer, renal cell cancer, breast cancer, and others. The oncology segment dominates the market because of the increased prevalence of different types of cancer and the rising need for personalized and targeted medicines.
Distribution Channel Segmentation: Based on the distribution channel, the kinase inhibitors market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacy segment dominates the market because hospital pharmacies play an important role in enhancing patient care by cooperating with doctors, nurses, and other healthcare professionals to provide the appropriate drugs and supplies in accordance with the treatment procedures.
Regional Growth Dynamics Based on the region, the global kinase inhibitors market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global kinase inhibitors market with the largest revenue share. Strong and developed economies such as the United States and Canada, increased investment in R&D activities for developing novel cancer therapies, the presence of top pharmaceutical companies, and the United States has the highest cancer rates in the world are the major factors responsible for North America's significant revenue share in the global market.
Some key players operating in the global kinase inhibitors market are:
· Boehringer Ingelheim International GmbH · Novartis AG · AstraZeneca Plc · Pfizer, Inc. · F. Hoffmann-La Roche Ltd · Bristol-Mayers Squibb Company · Johnson & Johnson · Bayer AG · Eisai Co., Ltd. · Takeda Pharmaceuticals
The kinase inhibitors market is somewhat competitive, with several global corporations involved. Leading players invest in technological advancements, research and development, mergers, acquisitions, and partnerships to strengthen their market position.
Recent developments:
· HUTCHMED and AstraZeneca began the SACHI Phase III Trial of ORPATHYS and TAGRISSO in specific lung cancer patients in China following progression on EGFR inhibitor therapy in November 2021.
· Pfizer Inc. got FDA clearance for a supplementary New Drug Application (sNDA) for LORBRENA (lorlatinib), a tyrosine kinase inhibitor, in March 2021.
Table of Content
INTRODUCTION
Market Ecosystem
Timeline Under Consideration
Historical Years – 2021
Base Year – 2022
Forecast Years – 2023 to 2031
Currency Used in the Report
RESEARCH METHODOLOGY
Research Approach
Data Collection Methodology
Data Sources
Secondary Sources
Primary Sources
Market Estimation Approach
Bottom Up
Top Down
Market Forecasting Model
Limitations and Assumptions
PREMIUM INSIGHTS
Current Market Trends (COVID-19 Perspective)
Key Players & Competitive Positioning (2022)
Regulatory Landscape
Reimbursement Scenario
MARKET DYNAMICS
Drivers
Restraints/Challenges
Opportunities
GLOBAL KINASE INHIBITORS MARKET - ANALYSIS & FORECAST, BY TYPE
Tyrosine Kinase Inhibitors
Multi-kinase Inhibitors
mTOR Kinase Inhibitors
Serine/Threonine Kinase Inhibitor
Protein Kinase Inhibitor
Others
GLOBAL KINASE INHIBITORS MARKET - ANALYSIS & FORECAST, BY APPLICATION
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