The Tyrosine Kinase Inhibitors Market was valued at USD 44,059.89 million in 2021 and is expected to grow to at a CAGR of 10.07% over the forecast period.
The COVID-19 pandemic affected health care systems globally and resulted in the interruption of usual care in many health care facilities, exposing vulnerable patients with cancer to significant risks. For instance a study titled ‘Impact of the COVID-19 Pandemic on Cancer Care: A Global Collaborative Study’ in 2020, reported that A total of 356 centers from 54 countries across six continents participated between April 21 and May 8, 2020. These centers serve 716,979 new patients with cancer a year. Most of them (88.2%) reported facing challenges in delivering care during the pandemic. Although 55.34% reduced services as part of a preemptive strategy, other common reasons included an overwhelmed system (19.94%), lack of personal protective equipment (19.10%), staff shortage (17.98%), and restricted access to medications (9.83%).
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.
Key Market Trends
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. TKIs are used to treat cancer, therefore growing prevalence of cancer will positively impact the market growth. According to American Cancer Society, Inc. in 2021, there will be an estimated 1.9 million new cancer cases diagnosed and 608,570 cancer deaths in the United States, thus, driving the studied market during the forecast period. This high prevalence of cancer has increased the economic burden of cancer of the population of this region.
Furthermore, product innovation with the tyrosine kinase inhibitors for treating multiple conditions is expected to drive the market growth. For instance, in July 2021, Ocular Therapeutix, Inc. dosed the first patient in the United States Phase 1 clinical trial of OTX-TKI (axitinib intravitreal implant) for the treatment of wet age-related macular degeneration (wet AMD). Thus, the ongoing clinical trial process in the concerned market will boost the studied market. 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. Some of the market players are Bayer, Boehringer Ingelheim International, F. Hoffmann-La Roche Ltd., AstraZeneca PLC, and Novartis.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Increasing Prevalence of Cancer
4.2.2 Growing Research Activities and Investment in Tyrosine Kinase Inhibitors
4.3 Market Restraints
4.3.1 High Cost of Therapy
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.1 BCR-ABL Tyrosine Kinase Inhibitor
5.1.2 Epidermal Growth Factor Receptor (EGFR) Tyrosine Kinase Inhibitors
5.1.3 Vascular Endothelial Growth Factor Receptor (VEGFR) Tyrosine Kinase Inhibitors
5.2 By Application
5.2.1 Chronic Myeloid Leukemia (CML)
5.2.2 Lung Cancer
5.2.3 Breast Cancer
5.2.4 Renal Cell Cancer
5.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
5.3.5 South America
18.104.22.168 Rest of South America
6.1.1 AstraZeneca PLC
6.1.2 Bayer AG
6.1.3 Boehringer Ingelheim International
6.1.4 Bristol-Myers Squibb Company
6.1.5 Eisai Co, Ltd.
6.1.6 F. Hoffmann-La Roche Ltd.
6.1.7 Johnson and Johnson
6.1.8 Novartis International AG
6.1.9 Pfizer Inc.
6.1.10 Eli Lilly and Company ?
6.1.11 Hansoh Pharma ?
6.1.12 Spectrum Pharmaceuticals ?
6.1.13 Takeda Pharmaceutical ?
A selection of companies mentioned in this report includes:
- AstraZeneca PLC
- Bayer AG
- Boehringer Ingelheim International
- Bristol-Myers Squibb Company
- Eisai Co, Ltd.
- F. Hoffmann-La Roche Ltd.
- Johnson and Johnson
- Novartis International AG
- Pfizer Inc.
- Eli Lilly and Company
- Hansoh Pharma
- Spectrum Pharmaceuticals
- Takeda Pharmaceutical