The global MEK inhibitors market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). The major factor anticipated to propel the MEK inhibitors market includes continuous clinical trials and studies on MEK inhibitors as a new treatment option in the field of oncology. MEK inhibitors have already shown promising results for skin cancer; this has propelled researchers to be actively involved in the R&D of MEK inhibitors for the purpose of expansion of their application to other invasive forms of cancer indications, such as colorectal cancer. For instance, MEK inhibitors are under clinical trial for the treatment of patients experiencing metastatic colorectal cancer, which is under phase 3 study.
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Another factor that is anticipated to propel the MEK inhibitors market during the forecast period includes high target analogy and specificity. Moreover, product approvals are also serving as the major driver for the growth of the global MEK inhibitors market. For instance, in January 2019, ONO PHARMACEUTICAL CO., LTD. received manufacturing and marketing approval for MEKTOVI MEK inhibitors in Japan for the treatment of metastatic melanoma with BRAFV600 mutations. The company has also taken substantial steps to commercialize this drug in major economies of North America. In May 2017, ONO PHARMACEUTICAL CO., LTD., and Array BioPharma Inc. signed a license agreement to develop and commercialize MEKTOVI in the US and Canada.
Some key players operating in the market include AstraZeneca Plc, F. Hoffmann-La Roche Ltd., Novartis AG, Ono Pharmaceutical Co. Ltd. These players are eyeing on strengthening their position in the market by adopting various strategies as mergers and acquisitions, partnerships, collaborations, new product launch and development in the existing product portfolio, and so on.
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Market Coverage
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: Cisco Systems, Inc., Purple, and Ruckus Networks, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global MEK inhibitors Market – Segmentation
- By Type
- MEKINIST
- COTELLIC
- MEKTOVI
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