The global tyrosine kinase market is projected to grow at a considerable CAGR of around 6% during the forecast period (2020-2026). The high incidence and prevalence of different cancer such as lung cancer, breast cancer, renal cancer, and Chronic Myeloid Leukemia (CML) among others is a key factor contributing towards the growth of the tyrosine kinase market across the globe. According to the American Cancer Society, around 228,820 new cases of lung cancer will be diagnosed in the US with 135,720 mortalities. Lung cancer is highly found in older people. Therefore, the rising geriatric population which is mainly susceptible to this cancer is anticipated to offer opportunities to the growth of the tyrosine kinase market across the globe.
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Other than this, increasing interest and investment from private and government bodies, rising awareness amongst individuals regarding cancer has led to a greater number of people opting for cancer screening and diagnosis. R&D and advancement in product pipeline in emerging economies are the factors that will change the landscape of the global tyrosine kinase market during the forecast period. However, the product failure and patent loss of expensive drugs are anticipated to be key factors that may restrain the growth of the global market.
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Segmental Outlook

The tyrosine kinase market is segmented on the basis of type and application. Based on the type, the market is segmented into BCR-ABL Tyrosine Kinase Inhibitor, Epidermal Growth Factor Receptor (EGFR), Vascular Endothelial Growth Factor Receptor (VEGFR), Anaplastic Lymphoma Kinase (ALK) and Others. Based on the application, the market is segmented into Chronic Myeloid Leukemia (CML), lung cancer, breast cancer, renal cell cancer, and others. CML is anticipated to witness significant growth based on application.

Chronic Myeloid Leukemia (CML) to be considerable

Chronic myeloid leukemia (myelogenous leukemia) is a cancer type that starts in certain blood-forming cells of the bone marrow. According to the American Cancer Society, in 2020, nearly 8,450 new cases will be diagnosed with CML that will comprise of 4,970 men and 3,480 women. About 1,130 people mortalities are anticipated to get occur in the US. Moreover, nearly 15% of all new cases of leukemia are chronic myeloid leukemia. About 1 person in 526 will get CML in their lifetime in the US. The high prevalence of CML along with the high adoption of tyrosine kinase for the treatment of this disease is anticipated to contribute a major contribution to this market segment.


Regional Outlook

The global tyrosine kinase market is further segmented on the basis of geography including North America, Europe, Asia-Pacific and Rest of the World. North America is anticipated to hold a considerable market share during the forecast period. According to the Center for Disease Control & Prevention (CDC), about 33,000 people get liver cancer, and about 27,000 mortalities occur from this from the disease each year, in the US. The rising prevalence and incidence of different types of cancer coupled with high diagnosis rates of cancer patients across the region is the major driving factor for the market. Moreover, increased awareness, well-developed healthcare infrastructure, and the presence of key market players along with their increased focus on the development of cancer treatment solutions are some of the key growth factors for the regional market growth.


Asia-Pacific to exhibit considerable growth during the forecast period 2020-2026

The growth in the Asia-Pacific market is attributed to the increasing diagnostics rates coupled with increasing cases of cancer in emerging economies such as China, India, and other Asia-Pacific countries. The major risk factor that is increasing the prevalence includes a sedentary lifestyle and rising smoking tobacco. According to the Union Health Ministry, 25.8 per 100,000 women have the chance to develop breast cancer and can lead to a mortality of 12.7 per 100,000 women. According to estimates, at least 17,97,900 women in India may have breast cancer by 2020. The high prevalence of breast cancer in India is anticipated to create demand for the drugs and therapeutics for the treatment of this disease, thereby contributing towards the growth of the tyrosine kinase market in the Asia-Pacific region.

Market Players Outlook

AstraZeneca PLC, GlaxoSmithKline PLC, Novartis International AG, Pfizer Inc., Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company, Eisai Co., Ltd., Eurofarma Laboratórios S/A, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Johnson and Johnson, and so on are the key companies operating in the tyrosine kinase market across the globe. These players are actively adopting different growth strategies such as new product launch, partnerships, collaboration, and mergers and acquisition among others to remain competitive in the marketplace.

The Report Covers

⦁ Market value data analysis of 2019 and forecast to 2026.
⦁ Annualized market revenues ($ million) for each market segment.
⦁ Country-wise analysis of major geographical regions.
⦁ Key companies operating in the global tyrosine kinase market. Based on the availability of data, information related to the products, and relevant news is also available in the report.
⦁ Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
⦁ Analysis of market-entry and market expansion strategies.
⦁ Competitive strategies by identifying ‘who-stands-where’ in the market.

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