Sprycel Market Expansion to $8.52 Bn by 2031: Insights into Key Players and Market Dynamics.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Sprycel Market- (By Demographic (Age, Gender, Income), By Psychographic (Lifestyle, Attitudes), By Behavioral, (Usage Rate, Compliance, Treatment), By Medical (Indication, Disease Stage)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Sprycel Market is valued at US$ 5.47 Bn in 2022, and it is expected to reach US$ 8.52 Bn by 2031, with a CAGR of 5.2% during a forecast period of 2023-2031.

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A targeted therapy medicine called Sprycel (dasatinib) is used to treat acute lymphoblastic leukaemia (Ph+ ALL) and chronic myeloid leukaemia (CML). It is a second-generation tyrosine kinase inhibitor that inhibits the Bcr-Abl protein, which promotes the development of CML cells. The rising incidence of CML and Ph+ ALL is fueling the rise of the Sprycel market. With an estimated 200,000 new cases identified each year, CML is the most prevalent kind of leukaemia, according to the WHO. Even though Ph+ ALL is a rare disease, it is more aggressive than CML and frequently deadly.

Although Sprycel is currently licenced for the treatment of chronic myeloid leukaemia (CML) & acute lymphoblastic leukaemia with a positive Philadelphia chromosome (Ph+ ALL), there may be an opportunity to investigate its effectiveness in additional haematological malignancies or solid tumours. New therapeutic indications for Sprycel may be discovered through research and clinical trials, creating new market potential. Combination treatments with Sprycel and additional specific medications research examining Sprycel in conjunction with other drugs may show synergy and increase efficacy. The market potential for Sprycel can be increased by creating combination regimens. Increasing the accessibility of Sprycel in developing nations where the prevalence of CML and Ph+ ALL is on the rise presents a sizable opportunity.

List of Prominent Players in the Sprycel Market:
• Bristol-Myers Squibb (BMS)
• Novartis
• Teva Pharmaceutical Industries
• Mylan
• Accord Healthcare
• Sun Pharma
• Dr Reddy's Laboratories
• Aurobindo Pharma

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Market Dynamics:
Drivers-
Tyrosine kinase inhibitors (TKIs), which include Sprycel, are a group of medications that specifically target molecules involved in the development & growth of cancer cells. Due to their capacity to prevent the growth of cancer cells while causing the least harm to healthy cells, targeted medicines like Sprycel are becoming more and more crucial in the fight against cancer, which is anticipated to drive market growth during the forecast period. Some CML and Ph+ ALL patients may become resistant to or intolerant to imatinib or other medications. Sprycel is frequently utilised as a follow-up or second-line therapy in such circumstances, which propels market demand. Sprycel has shown to be highly effective in treating CML and Ph+ ALL, providing many patients with favourable clinical results. Its safety profile makes it a popular choice among many patients and healthcare professionals when used properly.

Challenges:
Targeted treatments, like Sprycel, can be quite expensive, making them difficult for patients and healthcare systems to purchase. Sprycel's high cost may make it difficult for some people to obtain it, especially in areas with insufficient healthcare funding or insurance coverage. Patients' access to Sprycel may be hampered by payment difficulties and limits imposed by payers. The generic opposition and increased price competition may result from the release of generic copies of Sprycel as its patent exclusivity expires or is about to expire,, hampering the market growth. Generic substitutes are frequently less expensive than name-brand medication, which may affect Sprycel's market share and profitability.

Regional Trends:
The North American Sprycel market is expected to recorda major market revenue share and it is projected to grow at a high CAGR in the near future. The region's high incidence of chronic myeloid leukaemia (CML) is anticipated to boost the market expansion. In the United States, the American Cancer Society predicts that 14,620 persons will receive a CML diagnosis in 2023. It controls 30% of the market.

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Recent Developments
• In June 2019, Novartis innovated in CML with long-term treatment-free remission from Tasigna® and promising combo evidence with asciminib (ABL001).Asciminib in combination with imatinib, nilotinib, or dasatinib in highly pre-treated Ph+ CML-CP patients showed molecular response and safety in Phase I.3,4.
• In Jan 2019, Sprycel® (dasatinib) Tablets from Bristol-Myers Squibb were cleared for use with chemotherapy in some children with Philadelphia Chromosome-Positive Acute Lymphoblastic Leukaemia.

Segmentation of Sprycel Market-
By Demographic-
• Age
• Gender
• Income
By Psychographic -
• Lifestyle
• Attitudes
By Behavioral -
• Usage Rate
• Compliance
• Treatment
By Medical -
• Indication
• Disease Stage
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.