Global FMS Like Tyrosine kinase 3 Inhibitors Market Forecast to 2030
The Global FMS Like Tyrosine kinase 3 inhibitors Market research report is a complete document that explains the most recent breakthroughs and advancements in the FMS Like Tyrosine kinase 3 inhibitors industry, using 2019 as the base year and 2022–2030 as the forecast year. The analysis offers insightful data on the market's size, share, sales channels, distribution networks, market segmentation, consumer demands and trends, and growth prospects. The expansion of regional and global markets is also examined in the study. In the paper, the effect of the COVID-19 pandemic on the market for FMS Like Tyrosine kinase 3 inhibitors and its important sectors is studied.
The global FMS-like tyrosine kinase 3 (FLT3) inhibitors market size was USD 405.6 million in 2021 and is expected to register a revenue CAGR of 14.6% during the forecast period, according to the latest analysis by Emergen Research. Rising high-value investments for research and development (R&D) initiatives by various major pharmaceutical companies for improvement in therapy tolerability and drugs is a key factor driving market revenue growth. In addition, rising incidences of acute myeloid leukemia (AML) and relapse cases, a growing number of potential pipeline drugs, and increasing approvals of new FLT3 inhibitor drugs by regulatory bodies are driving the revenue growth of the FLT3 inhibitor market.
According to Novartis, AML accounts for approximately 25% of all adult leukemias and has the lowest survival rate. The FDA has now authorized three FLT3 inhibitors for use in the U.S. Midostaurin is approved for first-line treatment with chemotherapy, but gilteritinib is approved for R/R disease. Quizartinib and crenolanib are two new AML inhibitors in late-stage development for first-line and R/R treatments. Various advantages of improved targeted medicines, such as increased long-term survival rates, quality, and safety, are driving the growth of the FLT3 inhibitor market. According to Cancer.net, the 5-year survival rate for individuals aged 20 years and older with AML is 27%, whereas it is 69% for individuals younger than 20. In addition, the prognosis and survival of AML patients are strongly dependent on their mutation profile and age. Lower survival rates are due to the aging patient population's unfavorable mutation profile mixed with their inability to tolerate intense therapy.
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The global FMS Like Tyrosine kinase 3 Inhibitors industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Astellas Pharma Inc., Novartis AG, Pfizer Inc., Daiichi Sanyo Company, Limited, Cullinan Oncology, Inc., AROG Pharmaceuticals, Inc., Aptose Biosciences Inc., FUJIFILM Pharmaceuticals U.S.A., Inc., CSPC Pharmaceutical Group Limited, and Allarity Therapeutics, Inc
Research Report on the FMS Like Tyrosine kinase 3 Inhibitors Market Addresses the Following Key Questions:
- Who are the dominant players of the FMS Like Tyrosine kinase 3 Inhibitors market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the FMS Like Tyrosine kinase 3 Inhibitors market?
- What are the key growth drivers and restraining factors of the FMS Like Tyrosine kinase 3 Inhibitors market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the FMS Like Tyrosine kinase 3 Inhibitors market and its key segments?
The report bifurcates the FMS Like Tyrosine kinase 3 Inhibitors market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Drug Type Outlook (Revenue, USD Million; 2019-2030)
- Therapies Outlook (Revenue, USD Million; 2019-2030)
- Type 1 FLT3 inhibitors
- Type 2 FLT3 inhibitors
- Regional Outlook (Revenue, USD Million; 2019–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
Regional Landscape section of the FMS Like Tyrosine kinase 3 Inhibitors report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights From the Report
- The gilteritinib segment accounted for largest revenue share in 2021 owing to continuing clinical trials and increasing regulatory approvals. Gilteritinib, which is a kinase inhibitor, is recommended for people with acute myeloid leukemia that has relapsed or become resistant to treatment and has FLT3-TKD or FLT3-ITD mutation. This can increase patients survival rates, which is one of the main requirements for getting regulatory approval. For patients with severe, relapsing, or refractory illness, gilteritinib is a safe, mutation-targeted therapeutic option. A complex pyrazine carboxamide derivative, medication also has increased activity, selectivity, and effectiveness against FLT3-TKD and FLT3-ITD mutations.
- Type 1 FLT3 inhibitors segment accounted for largest revenue share in 2021 owing to increasing number of successful clinical trials and research studies. Type 1 inhibitors are more effective in AML cells containing either ITD or TKD mutations as they inhibit ATP binding in contrast to Type 2 FLT3 inhibitors. Moreover, Type 1 FLT3 inhibitors can be used in patients who have relapsed owing to acquired TKD mutations, which is one of the key factors driving revenue growth of the market. Type 1 inhibitors include midostaurin, crenolanib, and gilteritinib. Additionally, better efficacy, fewer side effects, and low toxicity of drugs are major factors driving revenue growth of this segment.
- The North America market accounted for largest revenue share in 2021. A few factors driving market revenue growth include surging number of AML patients, rising requirement for targeted therapies as well as increasing investments by major pharmaceutical companies for R&D in the area of FLT3 inhibitors drug development. Furthermore, rising collaborations between governments and pharmaceutical companies and increasing number of approval of new innovative drugs along with a number of potential pipeline drugs are significantly contributing to growth of the FLT3 inhibitors market in North America.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the FMS Like Tyrosine kinase 3 Inhibitors market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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