Tyrosine Kinase Inhibitors Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Tyrosine Kinase Inhibitors Market Analysis

The Tyrosine Kinase Inhibitors Market size is estimated at USD 62.13 billion in 2024, and is expected to reach USD 92.86 billion by 2029, growing at a CAGR of 8.37% during the forecast period (2024-2029).

The COVID-19 pandemic affected healthcare systems around the world and resulted in the interruption of usual care in many healthcare facilities, exposing vulnerable patients with cancer to significant risks during the early pandemic phase. However, as the pandemic progressed, kinase inhibitors, particularly tyrosine kinase inhibitors (TKIs), started to show promising results in COVID-19 patients, and there was an increased number of clinical trials. For instance, according to an article published by Frontiers in April 2022, imatinib, an enzyme inhibitor and small molecule kinase inhibitor tyrosine kinase inhibitor drug, successfully inhibited cellular tyrosine kinase as well as viral fusion, blocking the COVID-19 virus replication. The source also stated that there were three clinical trials that were underway in different parts of the world to investigate the clinical efficacy of imatinib on COVID-19 patients. Thus, the pandemic had a significant impact on the market growth; however, as the pandemic has subsided currently, the studied market is expected to have stable growth during the forecast period of the study.

Factors such as the increasing prevalence of cancer, growing research activities, and investment in precision oncology and targeted cancer therapy are expected to enhance market growth.

The rising prevalence of cancer is a major factor driving the market growth. For instance, as per the report published by the Chinese Medical Journal in March 2022, China is experiencing a greater incidence of cancers. In 2022, there were approximately 4,820,000 new cancer cases in China, in which the most common is lung cancer.

Moreover, according to the data published by National Cancer Center Japan in June 2022, an estimated 1,019,000 new cases of cancer were expected in Japan in 2022, out of which 158,200 were new cases of colon/rectum cancer, 132,100 cases of stomach cancer, 128,800 cases of lung/trachea cancer, 96,400 cases of prostate cancer, and 95,000 cases of breast cancer. Thus, the greater incidence of cancers has increased the demand for various tyrosine kinase inhibitor drugs and other cancer treatment drugs for the treatment of cancers, contributing to the growth of the cancer drug market.

Furthermore, the growing research and development activities for molecular targeted therapies, including signal transduction inhibitors such as tyrosine kinase inhibitors, are also expected to boost the market growth. For instance, in August 2022, Theseus Pharmaceuticals, Inc. announced business and pipeline highlights that were focused on developing next-generation protein kinase inhibitors and small molecule kinase inhibitors to outsmart cancer resistance. The company invested USD 7.3 million in the second quarter of 2022, as compared to USD 4.5 million for the same period in 2021. Thus, the growing research activities along with the increasing investments in kinase inhibitors are expected to enhance the market growth.

Additionally, the rising developments by major market players are also expected to enhance market growth. For instance, in March 2021, Pfizer Inc. received United States FDA approval for a supplemental New Drug Application (sNDA) for LORBRENA (lorlatinib), a tyrosine kinase inhibitor, expanding the indication to include first-line treatment of people with anaplastic lymphoma kinase (ALK)-positive non-small cell lung cancer (NSCLC). LORBRENA is indicated for adults with metastatic NSCLC whose tumors are ALK-positive as detected by an FDA-approved test, contributing to the growth of the anaplastic lymphoma kinase inhibitors market and strengthening the receptor tyrosine kinase inhibitors segment.

Thus, the aforementioned factors such as the rising prevalence of cancer, increasing research and development for novel targeted cancer drugs like tyrosine kinase inhibitors, and the rising developments by key market players are expected to enhance the market growth. However, the high cost of therapy is expected to hinder market growth.

Tyrosine Kinase Inhibitors Market Trends

Breast Cancer Segment is Expected to Hold a Significant Market Share Over the Forecast Period

Tyrosine Kinase Inhibitors Industry Segmentation

As per the scope of the report, a tyrosine kinase inhibitor (TKI) is a pharmaceutical drug that inhibits tyrosine kinases. Tyrosine kinases are enzymes responsible for the activation of many proteins by signal transduction cascades. The Tyrosine Kinase Inhibitors Market is segmented by Type (BCR-ABL Tyrosine Kinase Inhibitor, Epidermal Growth Factor Receptor (EGFR) Tyrosine Kinase Inhibitors, Vascular Endothelial Growth Factor Receptor (VEGFR) Tyrosine Kinase Inhibitors, BRAF Kinase Inhibitors, ROS1 Inhibitors, and Other Types), Application (Chronic Myeloid Leukemia (CML), Lung Cancer, Breast Cancer, Renal Cell Cancer, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.