Global BRAF-MEK Inhibitors Market: Market Outlook
A BRAF-MEK inhibitors are a chemical or drug that restricts the mitogen-activated protein kinase and kinase, enzymes MEK1 and/or MEK2. The chemicals are used to affect the BRAF-MEK pathway which is often overactive in some cancers. Hence, the BRAF-MEK inhibitors have potential for treatment of some cancers, especially BRAF-mutated melanoma, and KRAS/BRAF mutated colorectal cancer. The demand for BRAF-MEK is likely to increase due to the increasing prevalence of cancer across the globe. This increase, along with a projected increase in branded therapy prescription, will boost the growth of the global BRAF-MEK market over the forecast period. Furthermore, the rising product approvals and launches of premium-priced metastatic therapies, will extend treatment duration and replace cheaper, generic, chemotherapy regimens will boost the global BRAF-MEK market growth.
What are the Major Drivers Impacting Growth of the BRAF-MEK Inhibitors Market?
The ongoing clinical trials and studies on BRAF-MEK inhibitors as a new treatment option in the field of oncology is anticipated to drive the global BRAF-MEK inhibitors market during the forecast period. Researchers are actively involved in R&D activities on BRAF-MEK inhibitors to inflate its application to other invasive cancer indications, such as colorectal cancer due to the promising results of BRAF-MEK inhibitors in skin cancer. The inhibitors are under the phase 3 trial for the treatment of patients suffering from the malignant colorectal cancer. Furthermore, the increase in incidences of melanoma and rising awareness about new treatment options across the globe are contributing to the growth of the global BRAF-MEK inhibitors market. In 2018, according to the American Institute for Cancer Research 300,000 new cases of skin cancer were reported.
High target specificity and affinity is another factor, which is expected to drive growth of the global BRAF-MEK inhibitors market during the forecast period. Product approval is a major driver for the global MEK inhibitors market.
- For Instance, In January 2019, Ono Pharmaceutical Co., Ltd. received manufacturing and marketing approval for MEKTOVI MEK inhibitors in Japan for the treatment of metastatic melanoma with BRAFV600 mutations
How is the BRAF-MEK Inhibitors Creating Opportunities in the Field of Oncology?
The rising focus on BRAF-MEK inhibitors is likely to create a vast opportunity in the field of oncology. Development of BRAF-MEK inhibitors can serve as a new therapy to treat various malignancies. It is observed that BRAF-MEK can restrict the growth of tumor in people with malignant melanoma by disrupting the activity of MEK and BRAF kinases.
BRAF-MEK inhibitors is a selective inhibitor of the MAPK pathways. It targets a non-ATP site of the mitogen-activated protein kinases (MAP kinases). MAP kinases is a Serine/Threonine phosphorylating enzymes. MAP kinases is also known as extracellular signal-regulated kinases (ERKs). Aberrant signaling through the MAPK pathway can cause cancer.
How Rise in Investments in Cancer Research to Boost BRAF-MEK Inhibitors Market?
Medical research and healthcare are the major index of regional growth and development. Governments in several regions have shifted their funds toward unbounding new possibilities within medical research and healthcare system. Research for cancer has gained immense attention from regional authorities, due to this, the global BRAF-MEK inhibitors market is expected to become a goldmine of opportunities in the next coming years.
What is the Key Trends that has been Irking Medical Professionals and Oncologists across the world?
Several doctors have formed guilds to press for better research and development activities across the medical research fraternity, it has led to an increased usage of inhibitors of various types and orders. Furthermore, the growing focus on early diagnosis of cancer is also a major trend positively affecting the field of oncology. Therefore, the global BRAF-MEK inhibitors market is expected to grow at an active pace during the forecast period. The global BRAF-MEK inhibitors market is gaining attention due to the increased spending on cancer research and drug development.
A well-known therapy, dual targeted therapy has been proven as a sound line of action for treating several types of diseases. Contemporary researches find that BRAF-MEK inhibitors could be used with BRAF inhibitors for treatment of metastatic melanoma. This research could lead market vendors to invest greater revenues in research and development activities.
What are the Key Challenges that may Restrain Growth of the Global BRAF-MEK Inhibitors Market?
There are some of the factors that are expected to restrain the global BRAF-MEK inhibitors market such as adverse effects of BRAF-MEK inhibitors, such as diarrhea, rash, fatigue, peripheral edema, and dermatitis acneiform and stringent regulations on new therapeutics development. Furthermore, the era of moderation and healthcare reform is expected to negatively affect the pharmaceutical companies’ ability to gain reimbursement approval for their new melanoma therapies.
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Key players such as
- ONO PHARMACEUTICAL CO.LTD
- F. Hoffmann-La Roche Ltd
- Novartis AG
- Pfizer Inc.
- Bristol-Myers Squibb,
- BeiGene LTD
- SpringWorks Therapeutics
- Atriva Therapeutics GmbH
- others are actively involved in offering BRAF-MEK inhibitors.
What strategies are the Key Players adopting for Increasing their Market Share in the BRAF-MEK Inhibitors Market?
Major manufacturers of the global BRAF-MEK inhibitors have deep product penetration along with extensive distribution networks. Furthermore, the manufacturers of BRAF-MEK inhibitors are focusing on participating in international conferences and trade fairs to encourage their products and develop distribution partnerships and potential R&D collaborations.
Acquisitions, mergers, expansion, product branding, product launches, adoption of new technologies and strengthening of sales force are the key strategies adopted by manufacturers and integrators to increase the consumer base in different geographies
The companies operating in the global BRAF-MEK inhibitors market are also collaborating with research institutes and universities engaged in cancer research. This strategy could help vendors in understanding unmet needs and responding to them.
Why Retail Pharmacies Segment has Significant Growth Potential in BRAF-MEK Inhibitors Market?
The rising growth of the retail pharmacies segment is due to the increasing number of retail pharmacies across the world and easy availability of the BRAF-MEK inhibitors at the stores. Furthermore, the availability of BRAF-MEK inhibitors at specialty pharmacy stores and projected launch of new BRAF-MEK inhibitors during the forecast period are likely to propel the growth of the retail pharmacies segment in the global BRAF-MEK inhibitors market during the forecast period.
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Why is the U.S. a Big Market for BRAF-MEK Inhibitors?
Although melanoma, far less prevalent than non-melanoma skin cancers, is the major cause of death from skin cancer and is more likely to be reported and accurately diagnosed than non-melanoma skin cancers. In U.S., since the early 1970s, melanoma incidence is increasing significantly, for example an average 4 percent every year in the United States. Many studies indicate that the risk of malignant melanoma correlates with genetic and personal characteristics, and a person’s UV exposure behaviour. The presence of major players in the country is also driving the growth of the global BRAF-MEK inhibitors.
Furthermore, U.S. is the leading the BRAF-MEK inhibitors market due to the factors such as increase in approval of BRAF-MEK Inhibitors by major players in the country.
- For instance, In May 2017, ONO PHARMACEUTICAL CO., LTD. and Array BioPharma Inc. signed a license agreement to develop and commercialize MEKTOVI in the U.S.
Why China and India dominating Asia Pacific in BRAF-MEK Inhibitors Market?
India and China are likely to witness the maximum demand for BRAF-MEK Inhibitors in Asia Pacific during the forecast period. Major players of BRAF-MEK inhibitors have been highly investing in China and India due to a large patient base. Furthermore, the rising healthcare expenditure and disposable incomes is likely to drive the global BRAF-MEK inhibitors market growth in the country.
What is the Repercussion of the Pandemic on the Growth of the BRAF-MEK Inhibitors Market?
COVID-19 pandemic has caused a disturbance in almost all the industries. Due to the outbreak, health care systems are negatively impacted, and delivery of medical facilities effectively to all patients has become a huge challenge worldwide. Covid-19 pandemic has changed the national healthcare priorities and spending but this is considered to be short-term impact on the chilblains treatment market. Due to global restrictions, the BRAF-MEK inhibitors market initially faced disturbance in the demand and supply, hence market is expected to experience a short-term negative growth.
The outbreak has brought on many aspects, like falling business assurance, uncertainty about future, massive slowing of the supply chain, and others. There has been a disruption in the supply of various API’s required in the production of oncology drugs, however, this is expected to be a temporary effect and the market is expected to recover soon. Furthermore, due to the coronavirus, the flow of patients into the hospitals and clinics have been reduced which has led to decline in the treatment rate.
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The Report Covers Exhaustive Analysis on:
- BRAF-MEK Inhibitors Market Segments
- BRAF-MEK Inhibitors Market Dynamics
- BRAF-MEK Inhibitors Market Size & Forecast 2021 to 2031
- Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Market Drivers and Restraints
Regional Analysis Includes
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
- Shifting Industry dynamics
- In-depth market segmentation
- Historical, current and projected industry size recent industry trends
- Key Competition landscape
- Strategies for key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
Key Segments of BRAF-MEK Inhibitors Market Covered in the Report
Based on drug, the global BRAF-MEK Inhibitors market has been segmented as
Based on distribution channel, the global BRAF-MEK Inhibitors market has been segmented as
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Based on the region, the global BRAF-MEK Inhibitors market has been segmented as
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa