by BRAF kinase inhibitors are a class of drugs used in targeted cancer therapy. These inhibitors help in blocking the activity of a protein called BRAF, which is involved in abnormal cell growth when mutated. The most common type of mutation targeted by BRAF inhibitors is the BRAF V600E mutation, which is present in around 50% of melanoma skin cancers and 8-10% of colorectal cancers. BRAF inhibitors play a key role in the treatment of BRAF V600 mutation-positive melanoma, lung cancer, colorectal cancer and other cancers. The advantages of using BRAF inhibitors include high efficacy rates, oral administration and targeted mechanism of action. With rising cancer incidence worldwide and growing acknowledgment of personalized cancer treatment, the need for BRAF inhibitors has increased significantly.
The Global BRAF Kinase Inhibitors Market is estimated to be valued at US$ 1364.56 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the BRAF Kinase Inhibitors market are Hoffmann-La Roche Ltd, Siemens Healthineers AG, Abbott Laboratories, Thermo Fisher Scientific Inc., Danaher Corporation, Sysmex Corporation, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Quidel Corporation, Hologic, Inc., Ortho Clinical Diagnostics, Beckman Coulter, Inc. (a subsidiary of Danaher Corporation), BioMérieux SA, Trinity Biotech plc, EKF Diagnostics Holdings plc. Key opportunities in the market include high unmet needs for BRAF mutation-specific targeted cancer therapies. Leading players are investing heavily in R&D to develop novel and more efficacious BRAF inhibitors.
Global expansion of the BRAF Kinase Inhibitors market is driven by rising global cancer burden and increasing healthcare expenditure in emerging economies. Various regulatory approvals and product launches have ensured widespread availability of BRAF inhibitors across major markets. However, high drug costs pose a challenge, especially in low-resource settings.
Market drivers
The key driver for the high growth of the Global BRAF Kinase Inhibitors Market Size is the steep rise in cancer incidence rates globally over the past few decades. According to the World Health Organization (WHO), global cancer burden is expected to reach 27.5 million new cancer cases and 16.3 million cancer deaths by 2040. The increasing prevalence of cancers where BRAF mutations play a major role, such as melanoma and colorectal cancer, is a major factor driving demand. Early detection through screening initiatives, advancing genomic profiling technologies and growing awareness are also expected to boost the BRAF inhibitors market during the forecast period.
PEST Analysis
Political: The demand for BRAF kinase inhibitors is determined by the prevalence of cancer in the region and availability of treatment options. Stringent regulations pertaining approval and reimbursement may impact the market growth.
Economic: Higher disposable income levels and increasing healthcare spending positively influence the sales of advanced cancer drugs like BRAF kinase inhibitors. Economic slowdowns can limit the funds available for healthcare.
Social: Growing public awareness about early cancer detection and available treatment options drive the adoption of targeted therapies. Support groups help create a demand.
Technological: Advances in precision medicine and development of novel targeted therapies aid in improving treatment outcomes. Combination therapies utilizing BRAF inhibitors show promise. Continuous R&D efforts help address resistance issues.
North America accounts for the largest share of the global BRAF kinase inhibitors market by value owing to factors such as early availability of approved drugs, high adoption of premium-priced targeted therapies, and sizeable healthcare spending.
The Asia Pacific region is expected to witness the fastest growth over the forecast period attributed to rising cancer incidence, expanding healthcare infrastructure, and growing disposable incomes in emerging economies like India and China. Growing patient population and improving access to advanced treatment options support the regional market expansion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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