Press release
Kinase Targeted Therapeutics Market Will Generate New Growth Opportunities By 2024
Kinase is a class of enzyme that helps to transfer phosphate groups to the targeted substrate from molecules with high energy such as adenosine triphosphate (ADP). Disrupted or inappropriate kinase activity has been associated with several chronic diseases such as diabetes, neurological disorders, cancer, and cardiovascular disorders.
The rising prevalence of chronic diseases such as cancer and diabetes is one of the primary factors driving the global kinase-targeted therapeutics market. The World Diabetes Foundation (WDF) estimates the number of people suffering from diabetes to reach 438 million by 2030. Similarly, the World Cancer Research Fund International projects the count of people suffering from cancer across the world to reach 21 million by the same year. Kinases vary on the basis of molecules on which they act. Some of them are lipid kinase, protein kinase, and carbohydrate kinase.
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The report serves as a reliable source of analysis and data regarding various important aspects of the global kinase-targeted therapeutics market. It presents a comprehensive account of the market dynamics including trends and opportunities. It offers invaluable insights into the competitive landscape of the market. It profiles the key companies operating in the market along with their business strategies, market shares, cost and revenue structure, contact information, and latest developments. For a coherent understanding, the report categorizes the global kinase-targeted therapeutics market on the basis of various criteria including geography, and target molecules.
Global Kinase-Targeted Therapeutics Market: Drivers and Restraints
The continuous research and development activities in the field of life science are providing a fillip to the global kinase-targeted therapeutics market. Governments worldwide are allocating substantial budgets for medical advancements. Moreover, the improving healthcare facilities in developing countries coupled with increasing healthcare spending are augmenting the market. Since aged people are more susceptible to chronic diseases and age-related deformities, the growing geriatric population is working in favor of the market.
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On the other hand, the increasing awareness regarding the side-effects of kinase-targeted therapeutics drugs is restraining the growth of the market. These drugs are hazardous to the normal functioning of the liver and critical organs such as lungs and kidneys.
Global Kinase-Targeted Therapeutics Market: Geographical Segmentation
The key segments analyzed in the report based on geography are North America, Asia Pacific, Europe, and Rest of the World. North America will account for a substantial share in the market throughout the review period owing to the presence of a large base of geriatric population. The domicile of large manufacturers of kinase-targeted therapeutic drugs is providing an edge to the region over other regions. In addition, the continuous research and development activities in the field are supporting the growth of the market in the region.
Asia Pacific is expected to exhibit significant growth during the same period. The growth of the region can be attributed to the expanding base of patients suffering from chronic diseases. The improving healthcare infrastructure along with the rising expenditure of the populace on healthcare is propelling the growth of the region.
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Global Kinase-Targeted Therapeutics Market: Competitive Landscape
A large number of pharmaceutical giants are investing in the area of kinase modulation, and are among the leading players in the market. Several companies operating in the global kinase-targeted therapeutics market are keen on designing and launching improved agents that target diverse combinations of kinases. They are focusing towards business development and pipeline enrichment through mergers and acquisitions. Some of the prominent manufacturers of kinase-targeted therapeutic drugs are Eli Lilly and Company, Abbott Laboratories, Avila Therapeutics Inc., Array BioPharma Inc., and Bristol-Myers Squibb Co.
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