Receptor Tyrosine Kinase Treatment Market Trends

Growth Drivers

• Surge in Prevalence of Obesity - Over 1 billion individuals, including 650 million adults, 340 million teenagers, and 39 million children, are obese worldwide. This figure is still rising. According to the WHO, 167 million adults and children would have worse health by 2025 as a result of being overweight or obese. Obesity and overweight could alter the body in ways that contribute to the development of cancer. Long-lasting inflammation, elevated levels of insulin, insulin-like growth factor, and sex hormones are a few instances of these changes. The more additional weight a person puts on and the longer they are overweight, the higher their risk of developing cancer is. For instance, obesity and being overweight are associated with a greater risk of 13 different types of cancer.
• Growing Investment in Healthcare - The predicted cost of healthcare in India in 2020 was about 190 billion US dollars and this amount is estimated rise to about 370 billion US dollars.
• Clinical Approval of Kinase Inhibitors - Up until September 2021, the FDA approved about 72 small molecule kinase inhibitor medicines, and other regulatory bodies also approved more inhibitors throughout that time.
• Upsurge in Investment by Pharmaceutical Companies on R&D- Globally, the pharmaceutical sector invested over 230 billion dollars on research and development in 2021.
• Rising Preference for Oral Drugs - Approximately 59% of established small-molecule medicinal compounds that are commercially accessible are given orally.

Challenges

• High cost of tyrosine kinases therapies - A lack of qualified personnel who are unable to give patients the treatment they need is limiting the growth of the receptor tyrosine kinase treatment market on a global scale. Market expansion in the R&D sector is significantly constrained by higher expenditures and challenging regulatory approval processes. Additionally, a corollary of the high development costs of medications is a higher market price for the drug following approval. The National Cancer Institute estimates that the average cost of medical care and medications after a cancer diagnosis would be more than USD 40,000 in 2022. The high expense of the treatment has thus up until a certain point limited market penetration.
• Lack of funds for R&D activities
• Challenges faced by clinical trials for commercialization of tyrosine kinase inhibitors