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The global BRAF kinase inhibitors market size is estimated to grow by USD 1.40 billion at a CAGR of 7.88% between 2023 and 2028.
Prominent drugs based on BRAF kinase inhibitors, such as dabrafenib and sorafenib, are revolutionizing the therapeutic strategies of HCC, RCC, NSCLC, and melanomas. However, the high costs of these drugs remain a challenge to patients as well as the healthcare system. To overcome this challenge, many government and non-government organizations, including pharmaceutical companies, are focusing on providing financial assistance and clinical assistance for the treatment of various cancer indications. Such patient-assistance programs encourage more patients to avail the required treatment, resulting in a wider patient base. This also helps them adhere to the treatment regimen even if it goes into a long-term tenure, which will drive the growth of the market during the forecast period.
Technavio has segmented the market into Product, Distribution Channel, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2018-2022, besides analyzing the current market scenario.
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The market share growth by the dabrafenib segment will be significant during the forecast period. Dabrafenib is an orally administered drug sold under the brand name TAFINLAR for the treatment of cancers associated with a mutated BRAF gene. Dabrafenib acts as an inhibitor of the associated BRAF enzyme, which plays a crucial role in the regulation of cell growth. Dabrafenib has clinical activity, with a manageable safety and efficacy profile demonstrated across various clinical trials in patients with BRAF(V600)-mutated metastatic melanoma.
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The dabrafenib segment was valued at USD 1.08 billion in 2018. The growth of this segment is primarily driven by the high prevalence of lung cancer, as dabrafenib (TAFINLAR) is the only BRAF inhibitor approved for the treatment of NSCLC with BRAF V600E mutation. The high prevalence of BRAF melanoma is a key factor that drives the growth of this segment. Another combination that has been approved recently is BRAFTOVI (encorafenib) and MEKTOVI (binimetinib). This approval is expected to pose a challenge to the growth of this segment during the forecast period.
Hospital pharmacies are departments within hospitals that prepare, compound, stock, and dispense inpatient drugs. In most cases, hospital management leases space to private vendors that operate their private pharmacies. Hospital pharmacy staffing requirements vary depending on workload and hospital number of beds. In small hospitals, at least three pharmacists are required. Increasing numbers of hospitals globally, and hospitals play an important role in patient education and support, therefore increasing the demand for hospital pharmacy services, which is expected to propel the growth of the hospital pharmacies segment in the global BRAF kinase inhibitors market during the forecast period.
Retail pharmacists consult and guide patients through symptoms and provide guidance to prevent adverse reactions and drug-drug interactions. A retail or community pharmacy is an independent or chain pharmacy that is licensed by the State as a pharmacy and sells medications to the public at a retail price. Retail pharmacies are usually located throughout the community for easy access. Furthermore, an increasing number of retail pharmacies are expected to boost the growth of the retail pharmacies segment in the global BRAF kinase inhibitors market during the forecast period.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The growth of the market in this region is primarily driven by the sales of approved BRAF kinase inhibitors and the increasing prevalence of several cancer indications, including RCC, melanomas, and NSCLC, in the region. Furthermore, BRAF kinase inhibitors are attracting substantial R&D attention in the country due to their proven efficacy and target-specific treatment approach. These extensive R&D efforts get further support from established R&D platforms and major oncology vendors in the country, resulting in a substantial drug development pipeline. Thus, such drug development designations and the expansion of research areas of approved drugs for other indications are expected to support the growth of the market in the region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 13 market companies, including:
Asana BioSciences LLC: The company offers BRAF kinase inhibitors such as ASN003, a highly selective inhibitor of BRAF and PI3K kinases. ASN003 is a potent and highly selective inhibitor of BRAF and PI3 pha and delta kinases.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
The increasing prevalence of cancer is the key factor driving market growth. The prevalence of cancer has seen a significant rise in recent years globally, and the global pharmaceuticals market has witnessed the approval of various novel therapies, especially in the field of oncology. The gap between the demand and supply of these therapies has resulted in a huge unmet need, which has created an opportunity for market players to conduct studies on target-specific drugs.
In addition, the new cases of cancer has increased significantly in recent years, owing to factors such as the increasing geriatric population and lifestyle changes. It is estimated that 38.4% of all adults in the US will develop cancer during their lifetime. With the increasing prevalence of cancer, the demand for BRAF kinase-inhibiting drugs is also increasing, which will propel the growth of the market during the forecast period.
Expansion of research areas in BRAF kinase inhibitors is the primary trend shaping market growth. BRAF kinase inhibitors have demonstrated efficacy in several oncology indications, such as NSCLC, melanomas, and RCC, and several vendors are seeking to expand the clinical reach of these drugs further. Currently, four BRAF kinase inhibitors are approved for the treatment of various cancer types.
However, owing to their high target affinity and specificity, many companies are researching the treatment of more than three different types of cancers using BRAF kinase inhibitors. Similarly, about 50 clinical trials are being carried out by various companies for different types of cancers. Such expansions in the research areas of BRAF kinase inhibitors will have a substantial impact on the market during the forecast period.
Increasing awareness about the adverse effects of available drugs is a challenge that affects market growth. The treatment landscape of oncology indications, including NSCLC, melanomas, and RCC, is developing at a very fast rate. However, BRAF kinase inhibitor therapeutics demonstrate a range of adverse effects, such as fatigue, muscle cramps, nausea, vomiting, and diarrhea. Some of the rare events include low blood counts, edema, congestive heart failure, and severe liver problems.
Moreover, the combination of BRAF kinase inhibitors and radiation therapy often leads to cytotoxic effects and myelosuppression. Despite being highly efficacious, the BRAF kinase inhibitors used for treating some oncology indications are associated with a spectrum of side effects. These side effects limit patient adherence to treatments, which will impede the growth of the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global BRAF Kinase Inhibitors Market Customer Landscape
The BRAF kinase inhibitors market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
BRAF Kinase Inhibitors Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.88% |
Market Growth 2024-2028 |
USD 1.40 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.15 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 41% |
Key countries |
US, Germany, UK, France, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Asana BioSciences LLC, Bayer AG, BeiGene Ltd., F. Hoffmann La Roche Ltd., Fore Biotherapeutics Inc., Jazz Pharmaceuticals Plc, Nerviano Medical Sciences S.r.l, Novartis AG, Ono Pharmaceutical Co. Ltd., Pfizer Inc., Pierre Fabre SA, Kinnate Biopharma, and Black Diamond Therapeutics Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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