The global small molecule tyrosine kinase inhibitor market is anticipated to grow at a significant CAGR during the forecast period (2021-2027). Small molecule tyrosine kinase inhibitors (TKIs) block intracellular signalling pathways in tumor cells which leads to deregulation of key cell functions that include proliferation and differentiation. Additionally, as per the National Center for Biotechnology Information (NCBI), Small molecule inhibitors (SMIs) are among the most effective drugs for targeted cancer therapy. The major factor for the growth of the market is the increasing prevalence of cancer across the globe.
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According to the National Cancer Institute (NCI), it was estimated that 1,806,590 new cases of cancer will be diagnosed in the US with a mortality rate of 606,520 people in 2020. Furthermore, there were 18.1 million new cases and 9.5 million cancer-related mortalities globally in 2018 which is anticipated to rise to 29.5 million and the number of cancer-related mortalities to 16.4 million by 2040. Hence, the rising prevalence of cancer is increasing the demand for small molecule tyrosine kinase inhibitors which in turn is driving the growth of the global small molecule tyrosine kinase inhibitor market.
Some major players in the market include Merck KGaA, Novartis International AG, and Pfizer Inc., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in September 2020, Seattle Genetics has granted Merck an exclusive license to commercialize TUKYSA (tucatinib), a small molecule tyrosine kinase inhibitor in Asia, the Middle East and Latin America and other regions outside of the US, Canada and Europe. TUKYSA is used for the treatment of HER2-positive cancers
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
Segment Covered-
- By Type
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Merck KGaA, Novartis International AG, and Pfizer Inc., among others.
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Global Small Molecule Tyrosine Kinase Inhibitor Market Report by Segment
By Type
- Phase-I
- Phase-I/II
- Phase-II
- Phase-II/III
- Phase-III
By Application
- Lung Cancer
- Breast Cancer
- Others
Global Small Molecule Tyrosine Kinase Inhibitor Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
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