April 21, 2024

BRAF Kinase Inhibitors Market Is Expected To Be Flourished By Rapid Uptake Of Novel BRAF Drugs

BRAF inhibitors help in blocking an enzyme called BRAF kinase which plays an important role in cell growth. Certain gene mutations cause BRAF kinase to become overactive leading to uncontrolled cell growth and division. BRAF inhibitors help in stopping or slowing down this process and are used for treating cancers like melanoma, thyroid cancer, non-small cell lung cancer etc. Some of the common BRAF inhibitors available are vemurafenib (Zelboraf), dabrafenib (Tafinlar) and encorafenib (Braftovi) which are used alone or in combinations for advanced stage cancers. The global BRAF kinase inhibitors market is estimated to be valued at US$ 4.5 Billion in 2023 and is expected to exhibit a CAGR of 13.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
As highlighted in the heading, rapid uptake of novel BRAF drugs are driving significant growth in this market. Several pharma companies are investing heavily in developing newer and improved BRAF inhibitors which have better efficacy and lesser side effects. For instance, the approval and launch of encorafenib in combination with cetuximab and binimetinib has boosted the market revenues significantly. These newer drug combinations have shown improved response rates and extended progression free survival benefits in BRAF mutated metastatic colorectal cancer patients. Further clinical research aimed at expanding the use of BRAF inhibitors into other genetic alterations and cancer types will continue to support market growth over the forecast period.

Segment Analysis
The global BRAF Kinase Inhibitors market is dominated by the melanoma segment. Melanoma represents nearly 65% of the total market share owing to the high prevalence of mutant BRAF genes in melanoma cancer cells. BRAF inhibitors like vemurafenib and dabrafenib have shown significant efficacy in the treatment of advanced or metastatic BRAF mutation-positive melanoma and are approved drugs for this indication.

PEST Analysis
Political: Governments across major markets are supporting cancer drug development through various funding schemes and regulatory reforms to approve innovative oncology treatments faster.
Economic: The rising healthcare spending on cancer globally is driving the demand for expensive targeted therapies like BRAF inhibitors. Moreover, loss of patent protection for some blockbuster drugs is encouraging development of novel alternatives.
Social: Growing awareness about personalized cancer medicine and availability of genetic testing is aiding early detection of BRAF mutations, allowing quicker adoption of targeted therapies.
Technological: Advancements in genome sequencing technologies are facilitating identification of new molecular targets and development of precision medicines, providing opportunities to expand the approved indications of existing BRAF inhibitors.

Key Takeaways
The Global BRAF Kinase Inhibitors Market Size is expected to witness high at a CAGR of 13% during the forecast period of 2024 to 2031.

Regionally, North America dominates the market currently due to robust healthcare infrastructure and increasing access to advanced cancer care. The Asia Pacific region is poised to be the fastest growing market for BRAF inhibitors owing to its huge patient population and rising healthcare spending in countries like China and India.

Key players operating in the BRAF Kinase Inhibitors market are Roche, Pfizer, Novartis, Array BioPharma. Key players Roche and Novartis dominate the market with their drugs vemurafenib (Zelboraf) and dabrafenib (Tafinlar) respectively, which are approved for melanoma and other solid tumors. Other players are focusing on expanding the approved indications and developing combinations with MEK inhibitors to improve the treatment outcomes.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it