Research Nester published a report titled “CDK 4/6 Inhibitor Drugs Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global CDK 4/6 inhibitor drugs market in terms of market segmentation by drug type, patient, end-users, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global CDK 4/6 inhibitor drugs market is anticipated to grow with a CAGR of 13.2% over the forecast period, i.e., 2021 – 2030. The market is segmented by drug type into palbociclib (Ibrance), ribociclib (Kisqali), and abemaciclib (Verzenio), out of which, the palbociclib (Ibrance) segment is expected to generate the largest revenue of USD 37659.17 Million by the end of 2030. Moreover, in the year 2020, the segment generated a revenue of USD 5391.08 Million, and is further expected to grow with the highest CAGR of 13.4% during the forecast period.
The global CDK 4/6 inhibitor drugs market is estimated to garner a revenue of USD 42511.38 Million by the end of 2030, up from a revenue of USD 6991.70 Million in the year 2020. Growing research and advancements in the development of cancer drugs, backed by the increasing investments for cancer research, followed by the rising awareness for breast cancer amongst women, and the increasing prevalence of breast cancer are some of the major factors anticipated to drive the market growth in the coming years.
By region, the global CDK 4/6 inhibitor drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in North America region is anticipated to garner the largest revenue of USD 30204.34 Million by the end of 2030. Moreover, in the year 2020, the market in the region generated a revenue of USD 4992.07 Million.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Concern for the Rising Prevalence of Breast Cancer Worldwide to Drive Market Growth
In the year 2020, 2.3 Million women were diagnosed with breast cancer, according to the statistics by the World Bank. Moreover, 685000 number of deaths caused due to breast cancer were registered in the same year.
The surge in the number of breast cancer cases the rising concern for the number of deaths caused due to the disease is driving the need amongst the patients to undergo treatment of the disease and also diagnose at an early stage. Oncologists are increasingly preferring CDK 4/6 inhibitor drugs owing to its better performance as compared to other available drugs for treating cancer. With the surge in the number of breast cancer patients, the demand for these drugs is expected to increase, and in turn, drive the market growth.
However, the high cost of the drug, and the concern for the side effects associated with the drug are expected to operate as key restraint to the growth of global CDK 4/6 inhibitor drugs market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global CDK 4/6 inhibitor drugs market which includes company profiling of Pfizer Inc., Novartis AG, Eli Lilly and Company, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global CDK 4/6 inhibitor drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.