New York, Nov. 11, 2021 (GLOBE NEWSWIRE) -- According to W.H.O. (World Health Organisation), cancer is the second leading cause of death in the world and accounted for nearly 10 million deaths in 2020, with lung cancer (1.80 million deaths) being the most common cause of cancer death. Lack of access to proper diagnosis and treatment, and last-stage diagnoses are highly prevalent in most cases of cancer. Tyrosine kinases are considered to be the first-line of treatment for many cell-integrated cancers. They provide targeted therapy and regulate diverse biological processes including cell growth, differentiation, metabolism and apoptosis, implementing their advanced role in the pathophysiology of cancer.
Taking the forecast period 2022-2030 into account, Research Nester evaluated the market opportunities in the Global Receptor Tyrosine Kinase Treatment Market which is segmented by product type, application, and distribution channel. Furthermore, the report includes in-depth market analysis in five major regions, i.e., North America, Latin America, Europe, Asia Pacific and Middle East & Africa, including the current industry trends, innovations, and challenges, along with strategies that will help industry players to attain their business targets.
Receptor tyrosine kinase (RTK) has become an attractive subclass of tyrosine kinase therapeutic treatments that has provided immense understanding in the genetics, and cellular and structural biology of cancer cells. The inhibition of TKIs have resulted in early response, resulting in greater probability of survival and less morbidity. Driven by these factors, the global receptor tyrosine kinase treatment market is anticipated to grow in market value from approximately USD 54 Billion, as of 2020, to more than USD 102 Billion by the end of 2030, implementing a CAGR of nearly 7% over the forecast period. Moreover, an increasing acceptance of kinase inhibitors, resulting in more research and development activities and increasing product approvals are expected to further the growth of the market in the coming years.
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On the basis of product type, the global market is segmented into epidermal growth factor receptor (EGFR)-, vascular endothelial growth factor receptor (VEGFR)-, platelet-derived growth factor receptor (PDGFR) - tyrosine kinase inhibitors, and others. Owing to high efficiency of VEGFR-TKIs in the treatment of lung cancer, which is the most common type of cancer, this segment is projected to hold the largest market share.
In 2020, the United States reported approximately 1.8 million new cases of cancer diagnoses, where the mortality rate was seen to be higher in men than women. Owing to high prevalence of cancer, increasing R&D activities with tyrosine kinase inhibitors, and the presence of prominent market players, the receptor tyrosine kinase treatment market in North America is projected to hold the dominating market share by growing at a significant rate during the forecast period. Moreover, in 2020, according to National Cancer Institute under the U.S. Department of Health and Human Services, it was estimated that there were 18.1 million cancer survivors in the United States, which was an increase of 30% from that of 2010. This number is projected to increase by 31.4%, reaching to 22.2 million by 2030. Furthermore, emerging economies such as China and India are increasingly using kinase inhibitors for newer applications which is expected to bolster the market growth in Asia-Pacific region. This region is likely to witness the fastest growth and provide new opportunities for market players to invest in the region.
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The study incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global receptor tyrosine kinase treatment market is segmented on the basis of product type, application, and distribution channel.
Segmentation by Product Type
- Epidermal Growth Factor Receptor (EGFR) Tyrosine Kinase Inhibitors
- Vascular Endothelial Growth Factor Receptor (VEGFR) Tyrosine Kinase Inhibitors
- Platelet-Derived Growth Factor Receptor (PDGFR) Tyrosine Kinase Inhibitors
- Others
Segmentation by Application
- Lung Cancer
- Breast Cancer
- Renal Cell Cancer
- Others
Segmentation by Distribution Channel
- Hospital Pharmacies
- Independent Pharmacies
- Online Pharmacies
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The report also provides the existing competitive scenario of the key players in the industry who are actively putting efforts in researching and developing more effective and efficient tyrosine kinase inhibitors for a diverse range of cancers. Some of the prominent players and their company profiling included in the report are Bristol-Myers Squibb Company, Boehringer Ingelheim GmbH, Eton Bioscience, Inc., GlaxoSmithKline plc, Merck KGaA, AstraZeneca, Novartis AG, Pfizer Inc., Johnson & Johnson Services, Inc., and others. The profiling enfolds growth opportunities, challenges, market trends, competitive analysis and positioning, along with the strategies used by them to stay ahead of their competitors.
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