Tyrosine Kinase Inhibitor Market Size, Industry Trends, Share and Forecast 2021-2027

The global tyrosine kinase inhibitor market is anticipated to grow at a significant CAGR during the forecast period (2021-2027). A tyrosine kinase inhibitor (TKI) is a pharmaceutical drug taken orally and are used as a type of targeted therapy. It identifies and attacks specific types of cancer cells while causing less damage to normal cells. It is also responsible for the activation of many proteins by signal transduction cascades. The major factor for the growth of the market is the increasing prevalence of cancer across the globe.

According to the National Cancer Institute (NCI), it was estimated that 1,806,590 new cases of cancer diagnosed in the US with a mortality rate of 606,520 people in 2020. Furthermore, there were 18.1 million new cases and 9.5 million cancer-related mortalities globally in 2018 which is anticipated to rise to 29.5 million and the number of cancer-related mortalities to 16.4 million by 2040. Hence, the rising prevalence of cancer is increasing the demand for tyrosine kinase inhibitors which in turn is driving the growth of the market.

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Some major players in the market include Novartis International AG, AstraZeneca plc, and Pfizer Inc., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in October 2021, Novartis announced the approval of Scemblix (asciminib) by the FDA for the treatment of chronic myeloid leukemia (CML) in two distinct indications. First for the treatment of adult patients with Philadelphia chromosome-positive CML in chronic phase (Ph+ CML-CP) which was treated with two or more tyrosine kinase inhibitors (TKIs) and second full approval for adult patients with Ph+ CML-CP with the T315I mutation1.

Market Coverage

• The market number available for - 2020-2027

• Base year- 2020

• Forecast period- 2021-2027

Segment Covered-

· By Type

· By Application

Regions Covered-

· North America

· Europe

· Asia-Pacific

· Rest of the World

Competitive Landscape- Novartis International AG, AstraZeneca plc, and Pfizer Inc., among others.

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Global Tyrosine Kinase Inhibitor Market Report by Segment

By Type

• BCR-ABL Tyrosine Kinase Inhibitor

• Epidermal Growth Factor Receptor (EGFR) Tyrosine Kinase Inhibitors

• Vascular Endothelial Growth Factor Receptor (VEGFR) Tyrosine Kinase Inhibitors

• Others

By Application

• Chronic Myeloid Leukemia (CML)

• Lung Cancer

• Breast Cancer

• Renal Cell Cancer

• Others

Global Tyrosine Kinase Inhibitor Market Report by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

· Latin America

· Middle East & Africa

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