Kinase Inhibitors Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, August 8, 2024 /EINPresswire.com/ -- The kinase inhibitors market has experienced robust growth in recent years, expanding from $58.49 billion in 2023 to $62.75 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to increasing prevalence of cancer, advancements in targeted therapy, rising healthcare expenditure, approval of new kinase inhibitors, and growing adoption of personalized medicine.
Strong Future Growth Anticipated The kinase inhibitors market is projected to continue its strong growth, reaching $83.56 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to ongoing research and development activities, introduction of novel kinase inhibitors, expanding applications beyond oncology, increasing investment in biotechnology, and growing awareness about precision medicine.
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Growth Driver Of The Kinase Inhibitors MarketThe increase in instances of autoimmune diseases is expected to propel the growth of the kinase inhibitors market going forward. Autoimmune diseases are a broad group of disorders characterized by an abnormal immune response in which the immune system mistakenly attacks and damages healthy cells, tissues, and organs. The growing prevalence of autoimmune diseases is due to changes in lifestyle and diet, environmental pollution, genetic predisposition, stress, microbial imbalances, and the increasing incidence of chronic diseases like obesity and diabetes. Kinase inhibitors provide therapeutic benefits for autoimmune diseases by modulating the immune system, reducing inflammation, and alleviating symptoms such as psoriatic and rheumatoid arthritis.
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Major Players And Market TrendsKey players in the kinase inhibitors market include Pfizer Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Bristol-Myers Squibb Company, AstraZeneca Plc.Major companies operating in the kinase inhibitors market are developing selective tyrosine kinase 2 (TYK2) inhibitors to address unmet needs in treating autoimmune and inflammatory diseases. Selective tyrosine kinase 2 (TYK2) inhibitors help treat cancer by modulating immune responses and reducing inflammation, which can enhance the body's ability to target and destroy cancer cells and create a less favorable environment for tumor growth.
Segments:1) By Type: Tyrosine Kinase Inhibitors, Multikinase Inhibitors, mTOR Kinase Inhibitors, Other Types2) By Route of Administration: Oral, Parenteral, Other Routes3) By Application: Oncology, Inflammatory Diseases4) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Retail Pharmacy5) By End User: Hospitals, Homecare, Specialty Clinics, Other End-Users
Geographical Insights: Asia-Pacific Leading The MarketAsia-Pacific was the largest region in the kinase inhibitors market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the kinase inhibitors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Kinase Inhibitors Market DefinitionKinase inhibitors are medications that block the activity of kinases, enzymes essential for various cellular processes like growth and signaling. They are primarily used to treat cancers by interfering with the pathways that drive cancer cell growth and spread. Kinase inhibitors are also used to manage inflammatory diseases and other conditions characterized by abnormal kinase activity.
Kinase Inhibitors Global Market Report 2024 from The Business Research Company covers the following information:• Market size data for the forecast period: Historical and Future• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Kinase Inhibitors Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on kinase inhibitors market size, kinase inhibitors market drivers and trends, kinase inhibitors market major players, kinase inhibitors competitors' revenues, kinase inhibitors market positioning, and kinase inhibitors market growth across geographies. The kinase inhibitors market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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August 08, 2024, 13:52 GMT
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Originally published at https://www.einpresswire.com/article/733974410/kinase-inhibitors-global-market-2024-to-reach-83-56-billion-by-2028-at-rate-of-7-4
