Tyrosine Kinase Inhibitors Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Germany, UK, China - Size and Forecast 2024-2028

Tyrosine Kinase Inhibitors Market Forecast  2024-2028

The global tyrosine kinase inhibitors market size is estimated to grow by USD 24.22 billion at a CAGR of 8.42% between 2023 and 2028. The market growth for tyrosine kinase inhibitors, including BRAF Kinase Inhibitors and ROS1 Inhibitors, is primarily fueled by their high target specificity and affinity. Multiple therapies approved for various cancers exist, yet many cause adverse effects, reducing patient adherence. Chemotherapy and standard treatments for advanced cancers result in severe side effects such as bone marrow suppression and diarrhea. Strategic alliances among market players drive growth, responding to the increasing prevalence of cancer. Tyrosine kinase inhibitors stand out as reliable options for cancer and age-related diseases like retinal vein occlusion.

Consequently, numerous companies focus on their development and marketing. Given the substantial costs of drug development, players enter partnerships to share expenses. These inhibitors target signal transduction cascades, impacting cell proliferation, differentiation, cycle, and apoptosis. This approach extends to addressing fibrosis, diabetes, and other conditions, making tyrosine kinase inhibitors pivotal in healthcare systems. Market forecasting and analysis reports underscore their significance, aligning with market trends.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation by Distribution Channel, Product, and Geography Analysis

Distribution Channel Analysis 

The market share growth by the offline segment will be significant during the forecast period. The offline segment includes wholesalers, distributors, and retailers that are responsible for the supply of pharmaceutical drugs, including tyrosine kinase inhibitors drugs, to hospitals, clinics, and pharmacies. These intermediaries work hand in hand with pharmaceutical manufacturers to ensure that tyrosine kinase inhibitors are made available to patients in need.

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The offline segment was valued at USD 24.71 billion in 2018. Wholesalers are the first point of contact for manufacturers of tyrosine kinase inhibitor drugs and are responsible for distributing them to local distributors. Additionally, retailers, including pharmacies and hospitals, are the final link in the supply chain in offline distribution channels. Also, pharmacies are the most common type of retailer, and they usually stock a broad range of tyrosine kinase inhibitors to cater to the needs of different patients. Thus, such factors are expected to propel the growth of the offline segment of the market during the forecast period.

Product Analysis

RTKIs

Receptor tyrosine kinase inhibitors (RTKIs) are more in number when compared with non-receptor tyrosine kinase inhibitors (nRTKIs). Hence, these therapeutics are used in the treatment of various diseases. This segment includes blockbuster drugs such as EYLEA, AVASTIN, and LENVIMA, which witnessed high sales in 2021. For instance, EYLEA generated USD 6,265 million in sales revenue in 2022, while AVASTIN generated USD 2,354.78 million in revenue in the same year. The increasing sales of such drugs, coupled with a strong pipeline along with late-stage molecules and recent drug approvals, are expected to drive the growth of this segment during the forecast period.

nRTKIs

Non-receptor tyrosine kinase inhibitors (nRTKIs) are a class of pharmaceuticals designed to impede the activity of non-receptor tyrosine kinases, which are enzymes important in intracellular signaling pathways regulating cell growth, differentiation, and survival. Unlike receptor tyrosine kinases (RTKs) that are located on cell membranes, non-receptor tyrosine kinases operate within the cell. In the global market, nRTKIs represent an essential subset of targeted therapies primarily used in cancer treatment. Nowadays, the market has some approved therapies in this segment, such as GLEEVEC, SPRYCEL, IMBRUVICA, and TASIGNA. Thus, increasing developments of new non-receptor are projected to boost the growth of the nRTKIs segment of the market during the forecast period.

Regional Analysis

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North America is estimated to contribute 39% 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 TKIs market in North America is attributed to factors such as the high prevalence rate of cancer and the high unmet need for effective medications.  They are attracting extensive R&D in North America due to their high target affinity and specificity. Moreover, the presence of major oncology companies in the region is resulting in a robust pipeline. Late-stage molecules from the pipeline are expected to be launched during the forecast period, which will also support the growth of the market in North America. The US is the major revenue contributor to the market in this region, as it is a hub of pharmaceutical companies. The per capita income of countries such as the US and Canada is high, which allows the population to spend more on healthcare. Thus, such factors are expected to propel the growth of the market in North America during the forecast period.

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Market Dynamics and Customer Landscape

The market is experiencing significant growth, driven by the high target affinity and specificity of tyrosine kinase inhibitors, which form a crucial drug class targeting various cellular processes such as cell differentiation, cell cycle, and cell apoptosis, particularly in cancer treatment. A primary trend shaping this market is the formation of strategic alliances among market players, facilitating collaborative efforts in research and development to expand therapeutic targets and enhance drug efficacy.

However, a notable challenge hindering market growth is the high cost of currently available tyrosine kinase inhibitors, limiting accessibility for patients in need. Despite advancements in market analysis and reporting, the affordability of these drugs remains a concern. To address this challenge, stakeholders in the biotechnology and pharmaceutical industries must focus on market growth and forecasting to optimize value chains and ensure equitable access to these critical treatment drugs for patients worldwide.

Key Market Drivers

The high target affinity and specificity of tyrosine kinase inhibitors is the key factor driving market growth. There are several approved therapies for various types of cancers. However, most of the available therapies have adverse effects, which reduce the patient's adherence to treatments. For instance, chemotherapy and the existing standard of care (SoC) treatments for advanced cancers cause severe adverse effects such as bone marrow suppression, diarrhea, and alopecia. Similarly, surgery and radiation therapy are not useful in recurrent cancers.

Additionally, they can be an effective option for cancer treatment. They inhibit the activity of the enzyme tyrosine kinase. These drugs work directly on the target. Hence, their efficacy is higher than conventional treatments. Moreover, these drugs stabilize tumor progression, and the associated side effects are very few compared with cytotoxic chemotherapy drugs. Thus, such factors will drive the growth of the global market during the forecast period.

Significant Market Trends

Strategic alliances among market players is the primary trend shaping growth. The growing prevalence of various diseases increases the demand for innovative therapeutics. Align with market trends and analysis, tyrosine kinase inhibitors therapeutics are one of the most reliable therapeutic options for the treatment of cancer and age-related diseases like retinal vein occlusion (RVO), which occurs when a blood clot blocks the retinal vein. Thus, many companies are associated with developing and marketing these drugs. Considering the high cost involved in the entire drug development and commercialization cycle, market players are entering various deals to share the cost.

Consequently, such strategic alliances, partnerships, and collaborations help market players reach out to a larger geographical area, expand their product portfolio, and get a better return on investment (ROI) as the products are co-developed and marketed. Hence, key market players are expected to continue exploring strategic ways to tap significant opportunities, which will drive market growth during the forecast period.

Major Market Challenges

The high cost of currently available tyrosine kinase inhibitors is a challenge that affects market growth. The treatment cost is one of the major challenges faced by cancer patients. Many tyrosine kinase inhibitor therapeutics are used in combination with substitutes such as surgery and radiation therapy, which increases the cost of the treatment. The high cost of cancer treatment is mainly due to hospitalization, laboratory tests, and the administration of novel drugs therapeutics.

Moreover, the treatment cost of tyrosine kinase inhibitors therapeutics depends on the stage of cancer. The advanced or metastatic stage is very severe. In developing and underdeveloped countries, the cost of tyrosine kinase inhibitor treatment is very high. Thus, such high treatment costs reduce patient adherence to treatment, which is expected to impede the growth of the market in focus during the forecast period.

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Market Customer Landscape

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 Market Customer Landscape

Key Market Players 

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 research and growth and information about 20 market companies, including:

Novartis AG: The company offers tyrosine kinase inhibitors such as Scemblix, with novel mechanism of action, for adult patients with chronic myeloid leukemia.

• AbbVie Inc.
• Amgen Inc.
• AstraZeneca Plc
• Bayer AG
• Boehringer Ingelheim International GmbH
• Bristol Myers Squibb Co.
• Danaher Corp.
• Deciphera Pharmaceuticals Inc.
• Eisai Co. Ltd.
• Eli Lilly and Co.
• Exelixis Inc.
• F. Hoffmann La Roche Ltd.
• Johnson and Johnson
• Merck KGaA
• Pfizer Inc.
• Puma Biotechnology Inc.
• Rigel Pharmaceuticals Inc.
• Takeda Pharmaceutical Co. Ltd.
• Tokyo Chemical Industry Co. Ltd.

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.

Market Analyst Overview

The market is witnessing remarkable growth driven by advancements in therapeutic strategies against various cancers, including Chronic Myeloid Leukemia (CML), Lung Cancer, Breast Cancer, and Renal Cell Cancer. These inhibitors, such as BCR-ABL Tyrosine Kinase Inhibitor, Epidermal Growth Factor Receptor (EGFR) Tyrosine Kinase Inhibitors, and Vascular Endothelial Growth Factor Receptor (VEGFR) Tyrosine Kinase Inhibitors, play a crucial role in targeting specific pathways involved in cancer progression.

With ongoing clinical trials and increased investment in this, the market is witnessing a surge in research activities. Breakthrough therapies like Imatinib have transformed the treatment landscape, offering new frontiers in cancer management. Moreover, the rise of artificial intelligence and molecular modeling techniques, including Generative adversarial networks (GANs), has expedited drug discovery processes.

Despite challenges such as lack of qualified personnel and market price fluctuations, the market remains resilient, driven by factors like biotechnology innovations, pharmaceutical advancements, and investment in research and development. Emerging therapies like Asciminib for Philadelphia chromosome-positive chronic myeloid leukemia (Ph+ CML) offer promising prospects, shaping the future of cancer treatment. With continued market trend analysis and forecasting, the industry is poised for sustainable growth, catering to the evolving needs of the healthcare industry and improving patient outcomes.

Segment Overview

The market report forecasts market growth analysis by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends opportunities from 2018 to 2028. 

• Distribution Channel Outlook
  • Offline
  • Online

• Product Outlook
  • RTKIs
  • nRTKIs

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of the world (ROW)
    • Australia
    • Argentina
    • Brazil

Market Scope
Report Coverage	Details
Page number	164
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 8.42%
Market Growth 2024-2028	USD 24.22 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	7.96
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 39%
Key countries	US, Canada, Germany, UK, and China
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	AbbVie Inc., Amgen Inc., AstraZeneca Plc, Bayer AG, Boehringer Ingelheim International GmbH, Bristol Myers Squibb Co., Danaher Corp., Deciphera Pharmaceuticals Inc., Eisai Co. Ltd., Eli Lilly and Co., Exelixis Inc., F. Hoffmann La Roche Ltd., Johnson and Johnson, Merck KGaA, Novartis AG, Pfizer Inc., Puma Biotechnology Inc., Rigel Pharmaceuticals Inc., Takeda Pharmaceutical Co. Ltd., and Tokyo Chemical Industry Co. Ltd.
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, 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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What are the Key Data Covered in this  Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the  market forecast between 2024 and 2028
• Precise estimation of the  market size and its contribution to the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies' position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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