Market Size of Imatinib Drug Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Imatinib Drugs Market Analysis
The Imatinib Drug Market is expected to register a CAGR of 3% during the forecast period. Several factors are propelling the growth of this market such as increasing prevalence of cancer, increase in demand of target drug therapy and patient expiry of imatinib drug. For instance, according to National Cancer Institute in 2017 the number of new cases for leukemia is 62,130 and number of deaths was 24,500 which shows increasing prevalence of cancer patients in future and propell the imatinib drug market. In addition, Food and Drug Administration (FDA) approves enasidenib (IDHIFA®) a target drug therapy for patients who has Acute myeloid leukemia (specifically genetic mutation IDH2). Moreover, Imatinib drug is helpful in treating the patient with cancer by blocking the growth of eosinophils. This drug has been attributed to its higher efficacy in treating the Chronic Eosinophilic Leukemia, Hyper-Eosinophilic Syndrome, Gastrointestinal Stromal Tumors (GIST) and many more, However, high cost of imatinib with several substitute such as tarceva, sprycel and tasigna may hamper the market to certain extent.
Imatinib Drugs Industry Segmentation
As per scope, imatinib drug comes under world health organization's list of essential drugs used to treat cancers such as chronic myelogenous leukemia (CML) and acute lymphocytic leukemia (ALL). An imatinib, tyrosine kinase inhibitor is a chemotherapy drug which acts by reducing or preventing the progression of cancer cells. Imatinib Drug Market is segmented by drug formulation, Application Type and Geography.
| By Drug Formulation | |
| Capsules | |
| Tablets |
| By Application Type | |
| Philadelphia Positive Chronic Myeloid Leukemia | |
| Hyper-Eosinophilic Syndrome (HES) | |
| Myelodysplastic Syndrome (MDS) | |
| Myeloproliferative Diseases (MPD) | |
| Gastrointestinal Stromal Tumors (GIST) | |
| Others |
| Geography | ||||||||
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Imatinib Drug Market Size Summary
The Imatinib Drug Market is poised for steady growth, driven by the rising prevalence of cancer and the increasing demand for targeted drug therapies. Imatinib, known for its efficacy in treating conditions such as Chronic Eosinophilic Leukemia, Hyper-Eosinophilic Syndrome, and Gastrointestinal Stromal Tumors (GIST), plays a crucial role in blocking the growth of eosinophils and tumor cells. The drug's ability to improve blood counts and symptoms rapidly has led to its widespread adoption among patients, thereby boosting market revenue. However, the high cost of imatinib and the availability of substitutes like Tarceva, Sprycel, and Tasigna may pose challenges to market growth. The approval of targeted therapies by regulatory bodies, such as the FDA's approval of enasidenib for Acute Myeloid Leukemia, further underscores the market's potential.
Regionally, North America is expected to dominate the global Imatinib Drug Market, supported by the increasing incidence of cancer and heightened healthcare concerns. The region benefits from substantial R&D expenditure in oncology, along with a robust healthcare infrastructure and rising healthcare expenditure. The market is characterized by intense competition, with major players such as Sun Pharmaceutical Industries Ltd., Novartis AG, Dr. Reddy's Laboratories Ltd, Teva Pharmaceutical Industries Ltd., Mylan N.V., Cipla Inc, and Apotex Inc. leading the charge. These companies are instrumental in driving the market forward, capitalizing on the growing demand for imatinib to address various cancer-related disorders.
Imatinib Drug Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Prevalence of cancer
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1.2.2 Increase in demand of target drug therapy
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1.2.3 Patient expiry of Imatinib drug
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1.3 Market Restraints
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1.3.1 Presence of substitute drug
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Drug Formulation
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2.1.1 Capsules
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2.1.2 Tablets
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2.2 By Application Type
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2.2.1 Philadelphia Positive Chronic Myeloid Leukemia
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2.2.2 Hyper-Eosinophilic Syndrome (HES)
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2.2.3 Myelodysplastic Syndrome (MDS)
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2.2.4 Myeloproliferative Diseases (MPD)
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2.2.5 Gastrointestinal Stromal Tumors (GIST)
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2.2.6 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle-East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle-East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Imatinib Drug Market Size FAQs
What is the current Imatinib Drug Market size?
The Imatinib Drug Market is projected to register a CAGR of 3% during the forecast period (2024-2029)
Who are the key players in Imatinib Drug Market?
Sun Pharmaceutical Industries Ltd, Novartis AG, Teva Pharmaceutical Industries Ltd, Mylan N.V and Dr. Reddy's Laboratories are the major companies operating in the Imatinib Drug Market.
