The global tyrosine kinase market is anticipated to witness a considerable CAGR of during the forecast period (2020-2026). The rising prevalence of cancer across the globe along with the growing R&D of new tyrosine kinase inhibitors is a key factor anticipated to drive the growth of the global tyrosine kinase market. According to the World Health Organization (WHO), cancer is the second leading cause of mortality across the globe which is responsible for around 9.6 million mortalities and accounted for 18.1 million new cases in 2018, globally. 1 in 5 men and 1 in 6 women, across the globe, develop cancer during their lifetime, and 1 in 8 men and 1 in 11 women die from the disease.
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The tyrosine kinase inhibitors are given to the patients in order to stop the growth of cancer cells. Therefore, the high prevalence of different kinds of cancers is anticipated to create the demand for these drugs, which in turn is driving the growth of the tyrosine kinase inhibitor drugs across the globe.
GlaxoSmithKline PLC, Novartis International AG, Pfizer Inc., Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company, Eisai Co., Ltd., Eurofarma Laboratórios S/A, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, and so on are the key companies operating in the tyrosine kinase market across the globe. The major players of the tyrosine kinase market are making hefty investments in the R&D of new drugs. The continuous efforts of the market players in the development of new drugs are driving the growth of the global tyrosine kinase market.
Recent Development in the Market
- In May 2018, Pfizer, Inc. had announced the US Food and Drug Administration (FDA) approval for the breakthrough therapy designation for XALKORI (crizotinib) for the treatment of patients with metastatic non-small cell lung cancer (NSCLC) with MET exon 14 alterations with disease progression on or after platinum-based chemotherapy. In addition, the FDA had granted breakthrough therapy designation for XALKORI for the treatment of patients with relapsed or refractory systemic anaplastic large cell lymphoma (ALCL) that is anaplastic lymphoma kinase (ALK)-positive.
Global Tyrosine Kinase Market Segmentation
By Type
- BCR-ABL Tyrosine Kinase Inhibitor
- Epidermal Growth Factor Receptor (EGFR)
- Vascular Endothelial Growth Factor Receptor (VEGFR)
- Anaplastic Lymphoma Kinase (ALK)
- Others
By Application
- Chronic Myeloid Leukemia (CML)
- Lung Cancer
- Breast Cancer
- Renal Cell Cancer
- Other
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