As per a study by Fact.MR, the global BRAF-MEK inhibitors market is expected to grow due to increasing prevalence of cancer such as melanoma, metastatic, and colorectal cancer.
Strong pipeline for the treatment of metastatic cancers is expected to drive the BRAF- MEK inhibitors market
As per a study by Fact.MR, the global BRAF-MEK inhibitors market is expected to grow due to increasing prevalence of cancer such as melanoma, metastatic, and colorectal cancer.
According to the Centers for Disease Control and Prevention provided, around 77696 new cases of melanoma cancer were diagnosed every year from 2012 to 2016 in the U.S. alone. Studies also suggest that men are more frequently affected by melanoma cancer than women. Rising incidence of melanoma cancer will fuel the demand for effective treatment, in turn creating growth opportunities for the market.
Approvals by regulatory bodies present in various countries are expected to propel the market growth. For instance, Roche announced the approval of Tecentriq, Cotellic, and Zelboraf for the treatment of BRAF V600 mutation-positive advanced melanoma patients in July 2020 by the U.S. Food and Drug Administration.
Request a report sample to gain comprehensive insights at
https://www.factmr.com/connectus/sample?flag=S&rep_id=5662
Despite surging demand, the outbreak of the novel coronavirus has created disruption for the market across the globe. Product development and clinical trials have been severely affected. Nonetheless, the robust pipeline of BRAF-MEK inhibitor drugs is expected to significantly drive the growth of the market in the coming years.
“Apart from the use of protein biomarkers in diagnosis NSCLC, factors such as special drug designations and expanded applications have a significant impact on the growth of the BRAF-MEK inhibitors market,” says the Fact.MR analyst.
Key Takeaways
- The U.S. has emerged as a leading BRAF-MEK inhibitors market owing to the rise in numbers of product approvals by the regulatory authorities.
- Rising incidence of NSCLC and melanomas is expected to drive the demand of BRAF-MEK inhibitors in the U.K.
- In the Asia Pacific, key players of BRAF-MEK inhibitors have been investing increasingly in China and India due to a large patient base.
- More than 4,000 patients are suffering from melanoma and around 700 deaths occur in Japan every year, as per a study by the Ministry of Health, Labor and Welfare of Japan. This will fuel the demand for BRAF-MEK inhibitor in the country.
- Developing countries are investing in advanced healthcare and research & development driving the demand of BRAF-MEK inhibitors.
Explore tables and figures of the study. Request ToC of the report at https://www.factmr.com/connectus/sample?flag=T&rep_id=5662
Prominent Drivers
- Increasing focus on early diagnosis of cancer is a key strend, positively affecting the market of BRAF-MEK inhibitors.
- Global BRAF-MEK inhibitors market is soaring due to the increased spending on cancer research and drug development.
- Several experts have joined hands for better research and development activities across the medical research brotherhood. This has been driving the market for BRAF-MEK inhibitors globally.
Key Restraints
- Adverse effects of BRAF-MEK inhibitors, such as peripheral edema, diarrhea, and dermatitis acneiform is negatively affecting the demand of BRAF-MEK inhibitors.
- Unfavorable reimbursement for approval for new melanoma therapies is hindering the growth of the market.
- Extensive R&D activities and manufacturing makes the drugs very expensive, hampering the growth of the BRAF-MEK inhibitors market.
Competitive Landscape
Key players operating in the BRAF-MEK inhibitors market are SpringWorks Therapeutics, AstraZeneca, Pfizer Inc., ONO PHARMACEUTICAL CO.LTD, Novartis AG, BeiGene LTD, Atriva Therapeutics GmbH, F. Hoffmann-La Roche Ltd, and Bristol-Myers Squibb. The key players are focusing on participating in trade fairs and international conferences to encourage their distribution partnerships and potential R&D collaborations.
- Array BioPharma Inc. and ONO PHARMACEUTICAL CO., LTD. signed a license agreement to develop and commercialize MEKTOVI in the U.S., in May 2017
- In January 2019, Ono Pharmaceutical Co., Ltd. received manufacturing and marketing approval for MEKTOVI MEK inhibitors for the treatment of metastatic melanoma with BRAFV600 mutations in Japan.
More Insights on the BRAF-MEK inhibitors market:
In its latest report, Fact.MR offers an unbiased analysis of the BRAF-MEK inhibitors market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of drug (trametinib, cobimetinib, binimetinib, and others), distribution channel (hospital pharmacies, retail pharmacies, online pharmacies) across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
Explore Fact.MR’s Coverage on the Healthcare Domain
Cancer Therapeutics Market: Fact.MR gives a detailed assessment of cancer therapeutics market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the market along with their product portfolios enhances the reliability of this comprehensive research study.
Cancer Immunotherapy Market: Fact.MR’s expansive cancer immunotherapy market report sheds light on the prominent dynamics expected to shape future growth. The study explicates on the prominent drivers, opportunities and trends prevailing across key segments in prominent end users. Also, information regarding prominent key players has been embedded in the report.
Anticancer Drugs Market: Fact. MR’s extensive coverage anticancer drugs market offers in-depth insights about the prominent growth dynamics that are likely to aid expansion of growth prospects in the near future. Data has been presented in the form of key segments across prominent geographies, along with important information concerning key manufacturers operating within the industry.
About Fact.MR
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Mahendra Singh
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: sales@factmr.com
Source: Fact.MR