Global BRAF Kinase Inhibitors Market 2019-2023 | High Target Affinity and Specificity of BRAF Kinase Inhibitors to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--May 24, 2019--
The global BRAF kinase inhibitors market is expected to post a CAGR of over 8% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global BRAF kinase inhibitors market from 2019-2023. (Graphic: Business Wire)
Although there are many approved therapies in the field of oncology, the treatment landscape for advanced or metastatic carcinomas such as melanoma and NSCLC still has scope for improvement. Hence, BRAF kinase inhibitors are the most foreseen small molecule targeted therapy drugs for the treatment of these carcinomas. These drugs act on the BRAF protein directly and shrink or slow the growth of tumors with metastatic melanoma (due to BRAF gene mutations) as they hinder the activity of BRAF kinases. The mechanism of action (MoA) of this drug class is target specific, which makes it a potential single solution for various cancer indications. Thus, such substantial benefits from BRAF kinase inhibitors will help support the growth of the global BRAF Kinase inhibitors market during the forecast period.
As per Technavio, the expansion of research areas will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global BRAF kinase inhibitors market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global BRAF kinase inhibitors market: Expansion of research areas
BRAF kinase inhibitors have demonstrated efficacy in several oncology indications such as NSCLC, melanomas, and RCC. Therefore, several vendors are seeking to expand the clinical reach of these drugs. Also, owing to their high target affinity and specificity, many companies are researching the treatment of more than three different types of cancer using BRAF kinase inhibitors. Similarly, about 50 clinical trials are being carried out by various companies for different types of cancer. Therefore, such expansions in the research areas of BRAF kinase inhibitors are expected to have a substantial impact on the global BRAF kinase inhibitors market during the forecast period.
“ The prevalence of cancer has seen a significant rise in recent years, and the global pharmaceuticals market has witnessed the approval of various novel therapies, especially in the field of oncology. Various companies are also conducting heavy research on developing novel therapeutics such as BRAF kinase inhibitors. Moreover, there are some therapeutics in the pipeline that are being studied for the treatment of other indications. Hence, the prevalence of various cancer indications and strong pipeline will drive the growth of the global BRAF kinase inhibitors market,” says a senior analyst at Technavio.
Global BRAF kinase inhibitors market: Segmentation analysis
This market research report segments the global BRAF kinase inhibitors market by product (dabrafenib, sorafenib, vemurafenib, and encorafenib) and geographical regions (North America, Europe, Asia, ROW).
The North American region led the market in 2018, followed by Europe, Asia, ROW respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market and register the highest incremental growth due to sale of approved BRAF kinase inhibitors and the increasing prevalence of several cancer indications in the region.
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