Kinase Inhibitors Market Overview and Forecast Analysis up to 2024
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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Oncology to be Key Application Area
In terms of application, the global kinase inhibitors market has been segmented into oncology, inflammatory diseases, and others. Oncology is further divided into lung cancer, renal cell cancer, breast cancer, and others. The oncology segment dominated the global kinase inhibitors market in 2018 and is expected to grow with the highest CAGR in the forecast period. Large number of approved drugs along with rich product pipeline for cancer treatment is anticipated to fuel the growth of the segment in the near future. Based on data from clinicaltrials.gov last updated on January 2020, over 75 kinase inhibitor drugs are in various phases of clinical trials for the application of oncology.
Rise in Number of Hospital Pharmacies to Drive Market
Based on distribution channel, the global kinase inhibitors market has been segmented into hospital pharmacies, independent pharmacies, and online pharmacies. The hospital pharmacies segment dominated the global kinase inhibitors market in terms of revenue in 2018 and the trend is projected to continue during the forecast period. Increase in number of prescription-based kinase inhibitors being dispensed through independent pharmacies and rise in number of independent pharmacies in developing countries make these pharmacies a major channel of distribution.
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North America to Dominate Global Market
Geographically, the global kinase inhibitors market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global kinase inhibitors market in 2018, followed by Europe. North America accounted for major share of the global kinase inhibitors market in 2018, owing to introduction of new drugs, and high prevalence of cases in countries such as the U.S. The kinase inhibitors market in Asia Pacific is likely to expand at a higher CAGR from 2019 to 2027. Significant growth of the kinase inhibitors market in the region can be attributed to high prevalence of cancers and increase in demand for its therapeutics.
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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