Dublin, Feb. 16, 2023 (GLOBE NEWSWIRE) -- The "Global Osimertinib Drugs Market: by Type by Application and by Region - Forecast and Estimation for 2017-2027" report has been added to ResearchAndMarkets.com's offering.
Global Osimertinib drugs market is expected to reach US$ 11,839.8 million by 2027 at a CAGR of 16.6%, from US$ 4828.6 million in 2021, according to a new report
The researchers determined that the high demand for Osimertinib drugs was due in part to its unique properties as a double tyrosine kinase inhibitor. Osimertinib is not only effective against tumors with ALCL, but it also targets other types of cancer such as non-small cell lung cancer (NSCLC). In addition, Osimertinib does not require radiation or surgery for treatment, making it a preferable option for some patients.
Market Dynamics
Drivers
There are several reasons why Osimertinib is gaining popularity among patients with NSCLC.
- First, Osimertinib has a relatively low risk of side effects when compared to other treatments available to patients.
- Second, Osimertinib has been shown to be an effective treatment in clinical trials and has shown few if any side effects when used in combination with other treatments such as radiation therapy or chemotherapy.
- Finally, Osimertinib is also inexpensive relative to other treatments available on the market
Restraints
- Limited efficacy of the drug. Osimertinib has a low efficacy rate, meaning that it only works for a small number of patients. This means that there is a high demand for the drug, but not enough people are able to benefit from it. Many patients are left with few options other than radiotherapy or chemotherapy.
- Lack of awareness about the drug. Patients and doctors are relatively unaware of Osimertinib drugs and their potential benefits. As a result, they are unlikely to pursue this treatment option if they consider it available. Furthermore, often insurers do not usually cover these drugs, which creates an even greater hurdle for patients wishing to access them.
Regional Analysis
By region, global Osimertinib drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Wherein, North America is the largest consumer of lung cancer drugs such as Osimertinib. In fact, the region generates around 40% of the global market revenue.
In 2021, the drug generated a revenue of $2037.2 million as lung cancer is the leading cause of cancer deaths in men and women in North America. The American Cancer Society reports that lung cancer will account for about one-quarter of all cancers in North America by 2025.
Lung cancer drugs are expensive and require a prescription from a doctor. The American Cancer Society estimates that the cost of lung cancer treatment will be $18.1 billion in 2025.
Asia Pacific is projected to grow at the highest CAGR of more than 20% in the years to come thanks to high cancer population in India and China. In fact, more than 50% lung cancer patients are based in China only. This represents a huge growth potential for Osimertinib drug manufacturers in the region.
Segment Overview
By type, the global Osimertinib market is segment into 40mg and 80 mg. Wherein, the 40mg segment is projected to generate a revenue of $8,500 million by 2027.
In 2021, over 13,728,057 tablets of Osimertinib drugs were sold.
By applications, hospitals are estimated to consume over 80% of the global demand. Hospitals are the largest consumer of lung cancer drugs such as Osimertinib, and they account for a large portion of the total prescriptions that are written for these medications. In fact, more than 80 percent of all prescription pneumonectomy drugs are taken by hospitals. The vast majority of these medications are used to treat advanced lung cancer.
Since the approval of Osimertinib, the drug has seen high demand from hospitals for its use in treating cancer. Hospitals have been able to find success using Osimertinib to treat a variety of cancers including lung cancer. The reason for the high demand is that Osimertinib is a targeted therapy that specifically kills cancer cells. Cancer cells are able to resist regular treatments such as chemotherapy, so doctors are often looking for new ways to treat cancer patients.
Market Segmentation
By Type
- 40 mg
- 80 mg
By Application
- Hospitals
- Drug Stores
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Global Osimertinib market Report Answers Questions Such As:
- What is the market size and forecast of the Global Osimertinib market?
- What are the inhibiting factors and impact of COVID-19 on the Global Osimertinib market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the Global Osimertinib market?
- What is the competitive strategic window for opportunities in the Global Osimertinib market?
- What are the technology trends and regulatory frameworks in the Global Osimertinib market?
- What is the market share of the leading players in the Global Osimertinib market?
- What modes and strategic moves are considered favorable for entering the Global Osimertinib market?
| Report Attribute | Details |
| No. of Pages | 74 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value (USD) in 2021 | $4828.6 Million |
| Forecasted Market Value (USD) by 2027 | $11839.8 Million |
| Compound Annual Growth Rate | 16.6% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Osimertinib Drugs Market Scope
Chapter 2 Global Osimertinib Drugs Market Dynamics and Overview
Chapter 3 Global Osimertinib Drugs Market Analysis, by Region
Chapter 4 Global Osimertinib Drugs Market Analysis, by Type
Chapter 5 Global Osimertinib Drugs Market Analysis, by Application
Chapter 6 North America Osimertinib Drugs Market Analysis
Chapter 7 Asia Pacific Osimertinib Drugs Market Analysis
Chapter 8 Europe Osimertinib Drugs Market Analysis
Chapter 9 South America Osimertinib Drugs Market Analysis
Chapter 10 MEA Osimertinib Drugs Market Analysis
Chapter 11 Company Profiles
Chapter 12 OSIMERTINIB DRUGS MANUFACTURING COST ANALYSIS
Chapter 13 MARKETING CHANNEL, DISTRIBUTORS AND CUSTOMERS
Chapter 14 Research Methodology
A selection of companies mentioned in this report includes
- AstraZeneca
For more information about this report visit https://www.researchandmarkets.com/r/sv8qmf
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