The BRAF kinase inhibitors market will register a CAGR of over 8% by 2023
NEW YORK, June 18, 2019 /PRNewswire/ -- About this market
Prominent drugs based on BRAF kinase inhibitors, such as dabrafenib and sorafenib, are revolutionizing the therapeutic strategies of HCC, RCC, NSCLC, and melanomas. However, the high costs of these drugs remain a challenge to patients as well as the healthcare system. To overcome this challenge, many government and non-government organizations, including pharmaceutical companies, are focusing on providing financial assistance and clinical assistance for the treatment of various cancer indications. Effective patient assistance programs and reimbursement programs are expected to help with the high-cost regimen of BRAF kinase inhibitors to a large extent, which would encourage more patients to avail the treatment, thereby driving the market growth. Our analysts have predicted that the BRAF kinase inhibitors market will register a CAGR of over 8% by 2023.
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Market Overview
Increasing prevalence of cancer
The prevalence of cancer has seen a significant rise in recent years globally, and the global pharmaceuticals market has witnessed the approval of various novel therapies, especially in the field of oncology. Hence, various companies are conducting heavy research on developing novel therapeutics, such as BRAF kinase inhibitors, to capture the huge unmet need, and the market has witnessed the approval of these drugs in the last two decades. Currently, BRAF kinase inhibitors are approved for some of the major cancers such as NSCLC, metastatic melanomas, and RCC. Therefore, the strong prevalence of various cancer indications is driving the growth of the global BRAF kinase inhibitors market.
Adverse effects of available drugs
BRAF kinase inhibitor therapeutics demonstrate a range of adverse effects such as fatigue, muscle cramps, nausea, vomiting, and diarrhea. The combination of BRAF kinase inhibitors and radiation therapy often leads to cytotoxic effects and myelosuppression. Despite being highly efficacious, the BRAF kinase inhibitors used for treating some of the oncology indications are associated with a spectrum of side effects. These side effects limit patient adherence to treatments, which poses a challenge to the market.
For the detailed list of factors that will drive and challenge the growth of the BRAF kinase inhibitors market during 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately concentrated. The presence of few companies, including Array BioPharma Inc. and Bayer AG makes the competitive environment quite intense. Factors such as the improvements in production technology of BRAF kinase inhibitors and the growing demand for renewable energy and sustainable products will provide significant growth opportunities to the BRAF kinase inhibitor drug manufacturers. F. Hoffmann-La Roche Ltd., and Novartis AG. are some of the major companies covered in this report.
Read the full report: https://www.reportlinker.com/p05783999/?utm_source=PRN
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