Receptor Tyrosine Kinase Treatment Market - Regional Analysis
North America Market Forecast
North America industry is likely to dominate majority revenue share of 40% by 2035, backed by high prevalence of cancer in the region, increasing R&D activities with tyrosine kinase inhibitors, and the presence of prominent market players, with the U.S. dominating over the region. In 2020, approximately 1.8 million new cases of cancer were diagnosed in the U.S. with a mortality rate higher among men than women. Additionally, there has been growing investment on R&D in order to develop novel cancer treatment in this region. Hence, this factor is also anticipated to boost the market growth in this region.
Asia-Pacific Market Forecast
Moreover, Asia-Pacific region is expected to witness the fastest market growth owing to the boost in prevalence of cancer all across this region. Between 2012 and 2018, the number of newly diagnosed cancer cases in Asia-Pacific rose from about 5 million to approximately 8 million. The region's population is ageing at a record-breaking rate, which is a major factor in this development. Hence, there has been rise in research and development activities for cancer and related diseases in this region, which is expected to boost the market further. Moreover, increased use of kinase inhibitors for newer applications in emerging economies such as China and India would provide new opportunities for market players to invest in the region, further boosting the market growth.
