Market Trends of Tyrosine Kinase Inhibitors Industry
Breast Cancer Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Breast cancer is a disease in which cells in the breast grow out of control. Tyrosine kinase inhibitors help in blocking abnormal signal transduction pathways necessary for cell proliferation and growth in breast cancer. These signal transduction inhibitors act by targeting specific enzymes involved in cell signaling. Factors such as the rising prevalence of breast cancer and the increasing developments in the HER2 inhibitors market by key market players are expected to enhance the market growth.
For instance, according to the data updated by Cancer Australia in January 2023, it is estimated 20,640 new cases of cancer will be diagnosed in Australia during 2022 which will account for 12.7% of the new cancer cases diagnosed in the country. The source also stated that breast cancer will be the second most commonly diagnosed cancer in 2022 in Australia. Thus, the high prevalence of breast cancer is expected to boost the demand for cancer treatment drugs and supports the segment growth.
Furthermore, according to the bi-annual report published by the Indian Council of Medical Research (ICMR) in December 2022, the national average of cancer cases for 2022 in India was 100.4 per 100,000, with a large number of women (an estimated 105.4 per 100,000) being diagnosed with breast cancer. The source also stated an estimated 182,000 people are living with breast cancer in India and this is expected to reach 250,000 by 2030. Thus, due to the high burden of breast cancer, the demand for tyrosine kinase inhibitor drugs and other targeted drug therapies is expected to increase, which will drive the growth of the studied market.
Additionally, the rising developments by major market players are also expected to enhance segment growth. For instance, in September 2022, Dizal reported promising safety and pharmacokinetic data from the global phase I study of DZD1516 in patients with HER2 positive metastatic breast cancer (HER2+ MBC) who relapsed from multiple prior treatments. DZD1516 is designed as an oral, potent, reversible, highly selective, and full blood-brain barrier (BBB) penetrant HER2 tyrosine kinase inhibitor (TKI) drug, contributing to the growth of the HER2 inhibitors market.
Thus, the aforementioned factors such as the rising prevalence of breast cancer and the rising developments by key market players are expected to enhance the growth of the precision oncology market.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North American countries, including the United States and Canada, have a developed and well-structured healthcare system. These systems also encourage research and development, especially on cancer. Many companies in these countries have been involved in cancer research. Factors such as the rising prevalence of cancer and the increasing product launches of tyrosine kinase inhibitors and other targeted cancer therapies are expected to boost market growth in the region.
For instance, as per the Canada Cancer Society's statistics for 2022, around 6,700 Canadians were diagnosed with leukemia in 2021, out of which 4,000 were men and 2,700 were women. Also, as per the American Cancer Society's data for 2023, around 59,610 new cases of leukemia and 20,380 new cases of acute myeloid leukemia (AML) are expected to be diagnosed in the United States in 2023. Thus, the high incidence of cancer cases is leading to an increase in the usage of tyrosine kinase inhibitors and other cancer treatment drugs, thereby driving the market in the region.
Moreover, the rising spending on cancer research is also expected to boost the development of newer tyrosine kinase inhibitors, thus driving the protein tyrosine kinase market growth. For instance, according to the data published by NIH in May 2022, the spending on cancer research in the United States increased from USD 7,362 million in 2021 to USD 7,644 million in 2022.
Additionally, the rising developments by major market players in the field of precision oncology are also expected to enhance segment growth. For instance, in August 2022, FDA granted capmatinib, a tyrosine kinase inhibitor, regular approval for patients with metastatic non-small cell lung cancer (NSCLC) whose tumors have a mutation leading to MET exon 14 skipping.
Thus, the aforementioned factors such as the rising prevalence of cancer, increasing investments in cancer research, and the rising developments by key market players in kinase inhibitors are expected to enhance the market growth in the region.
