Global Osimertinib Drugs Market 2024 New Trends, Business Growth, Segmentation And Key Players Analysis Till 2033

The osimertinib drugs market size has grown rapidly in recent years. It will grow from $5.66 billion in 2023 to $6.66 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%. The growth in the historic period can be attributed to r&d investment and innovation, targeted therapy introduction, clinical trial success, resistance to previous treatments, improved safety profile..

The osimertinib drugs market size is expected to see rapid growth in the next few years. It will grow to $12.09 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The growth in the forecast period can be attributed to patient-centric care enhancement, continued clinical trials and research, precision medicine integration, pricing and access initiatives, global market expansion.. Major trends in the forecast period include biosimilar entry and market competition, liquid biopsy adoption, genomic profiling advancements, resistance management strategies, immunotherapy combination trials..

Market Overview -
Osimertinib is a medication used to treat non-small cell lung cancer (NSCLC) in patients with particular abnormal epidermal growth factor (EGFR) genes. It is a kinase inhibitor and works by blocking the action of the abnormal protein that signals cancer cells to multiply.

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Increasing Incidence Of Lung Cancer Boost The Demand For Osimertinib Drug
The increasing incidence of lung cancer is expected to propel the growth of the osimertinib drug market going forward. Lung cancer refers to a type of cancer that originates in the lung tissues, predominantly in the cells lining the airways. Osimertinib is used as a therapeutic option for lung cancer, and it helps to block the activity of specific proteins that are involved in the growth and spread of cancer cells. For instance, in 2022, according to the American Cancer Society, a US-based government organization, in the US, there were approximately 236,740 lung cancer cases diagnosed in 2022, and that number has increased to 238,340 by 2023. Therefore, the increasing incidence of lung cancer is driving the growth of the osimertinib drug market.

Competitive Landscape -
Major companies operating in the osimertinib drugs market report are Syndax Pharmaceuticals Ltd., Pfizer Inc., F. Hoffmann-La Roche AG, AstraZeneca plc, Amgen Inc., Sandoz International GmbH, Incyte Corporation, Dr. Reddys Laboratories Ltd., Cipla Limited, Seagen Inc., Zydus Lifesciences Limited, Sun Pharmaceutical Industries Ltd., Alembic Pharmaceuticals Limited, Aristo Pharmaceuticals Private Limited, Incepta Pharmaceuticals Ltd., Accord Healthcare Limited, Asmo Corporation, Beacon Pharmaceutical Limited, Clearsynth Labs Limited, Apino Pharma Co. Ltd., Kay Biotech Private Limited, Drug International Limited, MSN Laboratories Pvt Ltd., Array BioPharma Inc., Dolphin Pharmaceutical Limited, Hetero Drugs Ltd., Serum Biotech Limited, Zenix Remedies, Accure Labs Pvt. Ltd.

Increasing Focus On Drug Approvals To Drive The Revenues
Major companies operating in the osimertinib market are focused on developing innovative drugs and getting them approved to sustain their position in the market. Drug approvals osimertinib are increasing due to the need for more effective and safer treatments, such as Tagrisso, which provides a new therapeutic option. Tagrisso (osimertinib) is a targeted therapy medication for non-small-cell lung cancer. For instance, in May 2021, AstraZeneca, a UK-based pharmaceutical company, received approval from the Medicines and Healthcare Products Regulatory Agency (MHRA), a UK-based governmental agency, for Tagrisso (osimertinib), a third-generation (Epidermal Growth Factor Receptor) EGFR tyrosine kinase inhibitor. It functions by preventing the EGFR protein's activation. EGFR is a protein that helps cancer cells grow and divide. By blocking the activity of EGFR, osimertinib can help slow the growth and spread of cancer cells. The MHRA's authorization of osimertinib is a significant step forward in treating early-stage EGFR-mutated lung cancer.

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Key Segments -
The osimertinib drugs market covered in this report is segmented -
1) By Type: 40 mg, 80 mg
2) By Distribution Channel: Hospital Pharmacy, Drug Store And Retail Pharmacy, Online Pharmacy
3) By Application: Locally Advanced Non-Small Cell Lung Cancer (NSCLC), Metastatic Non-Small Cell Lung Cancer (NSCLC), Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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