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HEALTHCARE & PHARMACEUTICAL

Receptor Tyrosine Kinase Treatment Market Segmentation by Product Type (Epidermal Growth Factor Receptor [EGFR] Tyrosine Kinase Inhibitors, Vascular Endothelial Growth Factor Receptor [VEGFR] Tyrosine Kinase Inhibitors, Platelet-derived Growth Factor Receptor [PDGFR], Human Epidermal Growth Factor Receptor 2 [HER2] Tyrosine Kinase Inhibitors, & Others); by Application (Lung Cancer, Breast Cancer, Renal Cell Cancer, & Others); by Distribution – Global Demand Analysis & Opportunity Outlook 2030

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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Recent Trends

  • A study conducted provided information on the potential cardiotoxicity of a list of FDA approved Vascular Endothelial Growth Factor (VEGFR) Tyrosine Kinase Inhibitors and ranked them by their potential cardiotoxic risk associated in patients with solid tumors.

  • A research investigated the efficacy of EGFR-TKIs in older patients, where patients of 65 years or older with EGFR-mutated Stage IIIB–IV non-small-cell lung cancer (NSCLC) were enrolled and the efficacy and prognosis of first-line EGFR-TKI treatment was evaluated. EGFR-TKIs are standard first-line treatments for advanced EGFR-mutated non-small-cell lung cancer (NSCLC) patients.

Global Receptor Tyrosine Kinase Treatment Market Highlights Over 2022 – 2030

With the help of research and development activities for cancer treatment, many breakthroughs and advances implicated the role of tyrosine kinases in the pathophysiology of cancer. The inhibition of tyrosine kinases provides new therapies for cancer. Receptor Tyrosine Kinase (RTK) has become an attractive therapeutic target that regulates many key processes including cell growth and survival. The number of RTKs, identified as valuable molecular targets, has greatly increased due to the enormous progress that has been made in the past few years in the identification of the human genome.

The global receptor tyrosine kinase treatment market was valued at approximately USD 54 Billion in 2020 and is estimated to be worth more than USD 102 Billion by the end of 2030, by growing at a CAGR of nearly 7% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to rise in the occurrence of cancer and related diseases, increasing acceptance of kinase inhibitors, increasing product approvals, and more and more investment from pharmaceutical companies.

Receptor Tyrosine Kinase Treatment Market Graph

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However, the high cost of tyrosine kinases therapies and the lack of funds for R&D activities are likely to restrain the growth of the market. Furthermore, clinical trials for commercialization of tyrosine kinase inhibitors in cancer treatment is facing challenges due to strict rules and lack of volunteers.

The market is segmented by product type into epidermal growth factor receptor (EGFR) tyrosine kinase inhibitors, vascular endothelial growth factor receptor (VEGFR) tyrosine kinase inhibitors, platelet-derived growth factor receptor (PDGFR) tyrosine kinase inhibitors, and others, out of which, the VEGFR-TKIs segment is anticipated to hold the largest market share owing to their efficiency in treatment of lung cancer, which is the most common type of cancer globally.

Based on application, the global receptor tyrosine kinase treatment market is segmented into lung cancer, breast cancer, renal cell cancer, and others, among which the breast cancer segment is estimated to hold the largest share by growing at the highest rate. Breast cancer is the second most common type of cancer and the most common in females, with about 20% of all cases to be HER-2 positive. 

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Graph

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Receptor Tyrosine Kinase Treatment Market Regional Synopsis

Regionally, the global receptor tyrosine kinase treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is projected to grow at a significant rate during the forecast period and hold the largest market share on account of 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.

Asia-Pacific region is expected to witness the fastest market growth owing to the rise in research and development activities for cancer and related diseases. 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.

Receptor Tyrosine Kinase Treatment Market Share Graph

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The global receptor tyrosine kinase treatment market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global receptor tyrosine kinase treatment market includes the following segments:

By Product Type

  • Epidermal Growth Factor Receptor (EGFR) Tyrosine Kinase Inhibitors
  • Vascular Endothelial Growth Factor Receptor (VEGFR) Tyrosine Kinase Inhibitors
  • Platelet-Derived Growth Factor Receptor (PDGFR) Tyrosine Kinase Inhibitors
  • Others

By Application

  • Lung Cancer
  • Breast Cancer
  • Renal Cell Cancer
  • Others

By Distribution Channel

  • Hospital Pharmacies
  • Independent Pharmacies
  • Online Pharmacies

Growth Drivers

  • Rise in the number of cancer cases and increasing acceptance of kinase inhibitors
  • Increasing product approvals, and more and more investment from pharmaceutical companies

Challenges

  • High cost of tyrosine kinases therapies and lack of funds for R&D activities
  • Challenges faced by clinical trials for commercialization of tyrosine kinase inhibitors

Top Featured Companies Dominating the Market

  • Bristol-Myers Squibb Company
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Boehringer Ingelheim GmbH
  • Eton Bioscience, Inc.
  • GlaxoSmithKline plc
  • Merck KGaA
  • AstraZeneca
  • Novartis AG
  • Pfizer Inc.
  • F. Hoffmann-La Roche Ltd.
  • Johnson & Johnson Services, Inc.

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