by The Braf Kinase Inhibitors Market is estimated to be valued at US$ 1184.51 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Braf kinase inhibitors are targeted anti-cancer medicines used for the treatment of various types of cancers like melanoma, colorectal cancer, non-small cell lung cancer etc. These inhibitors specifically target and inhibit the B-Raf protein kinase, which is involved in uncontrolled cell growth in cancer. Key products include Zelboraf, Mekinist and Tafinlar. Continued research and clinical trials are being conducted to expand their use in more cancer indications.
Market Dynamics:
Driver 1: Rising prevalence of cancer worldwide – According to WHO, cancer burden has risen to 18.1 million new cases and 9.6 million deaths in 2018. The continued growth in cancer cases globally is expected to drive the demand for novel targeted treatment options like Braf kinase inhibitors during the forecast period.
Driver 2: Positive clinical trial results and regulatory approvals for new indications – Successful trials and regulatory approvals of Braf inhibitors for additional cancer types beyond melanoma will ramp up their adoption rate. In March 2020, Pfizer received FDA nod for Tafinlar + Mekinist combo for adjuvant treatment of melanoma. This expanded the market scope of Braf inhibitors.
Segment Analysis
The global braf kinase inhibitors market is dominated by the BRAF mutation sub-segment. BRAF mutation accounts for about 40-60% of all melanomas and leads to activation of the MAPK pathway. Some of the approved braf kinase inhibitors specifically target the BRAF V600 mutation.
PEST Analysis
Political: Government support in terms of funding for cancer research and introduction of favorable regulations for new drug approvals are positively impacting the market growth.
Economic: Rising healthcare expenditure across major countries is fueling the adoption of premium-priced innovative drugs for cancer treatment.
Social: Growing cancer prevalence coupled with increasing awareness about early diagnosis and treatment are major social factors driving the demand for braf kinase inhibitors.
Technological: Advanced diagnostic technologies are enabling accurate detection of BRAF mutations, paving way for targeted braf kinase inhibitor therapy. Furthermore, ongoing research for development of combination therapies is expanding treatment options.
Key Takeaways
The global braf kinase inhibitors market is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing cancer prevalence and demand for targeted therapies.
Regional analysis: North America is currently the dominant region for the braf kinase inhibitors market owing to developed healthcare infrastructure and increasing adoption of premium drugs in the region. Asia Pacific is anticipated to exhibit the fastest growth over the forecast period supported by rising healthcare spending, growing cancer burden and emergence of regional key players in countries like China and India.
Key players operating in the braf kinase inhibitors market are F. Hoffmann-La Roche AG, Novartis International AG, and Pfizer, Inc. Roche has a strong foothold with Mekinist (trametinib) being one of the leading braf inhibitor drugs approved for melanoma in combination with Tafinlar (dabrafenib). Novartis’ Tafinlar in combination with Mekinist also has significant market share. Moreover, Pfizer sells Braftovi (encorafenib) in partnership with Array BioPharma which is approved in combination with Mektovi (binimetinib) for melanoma treatment.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
