BRAF-MEK Inhibitors Market Expansion To Be Persistent During 2022 – 2031
A BRAF-MEK inhibitors are a chemical or drug that restricts the mitogen-activated protein kinase and kinase, enzymes MEK1 and/or MEK2. The chemicals are used to affect the BRAF-MEK pathway which is often overactive in some cancers. Hence, the BRAF-MEK inhibitors have potential for treatment of some cancers, especially BRAF-mutated melanoma, and KRAS/BRAF mutated colorectal cancer. The demand for BRAF-MEK is likely to increase due to the increasing prevalence of cancer across the globe. This increase, along with a projected increase in branded therapy prescription, will boost the growth of the global BRAF-MEK market over the forecast period. Furthermore, the rising product approvals and launches of premium-priced metastatic therapies, will extend treatment duration and replace cheaper, generic, chemotherapy regimens will boost the global BRAF-MEK market growth.
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What are the Major Drivers Impacting Growth of the BRAF-MEK Inhibitors Market?
The ongoing clinical trials and studies on BRAF-MEK inhibitors as a new treatment option in the field of oncology is anticipated to drive the global BRAF-MEK inhibitors market during the forecast period. Researchers are actively involved in R&D activities on BRAF-MEK inhibitors to inflate its application to other invasive cancer indications, such as colorectal cancer due to the promising results of BRAF-MEK inhibitors in skin cancer. The inhibitors are under the phase 3 trial for the treatment of patients suffering from the malignant colorectal cancer. Furthermore, the increase in incidences of melanoma and rising awareness about new treatment options across the globe are contributing to the growth of the global BRAF-MEK inhibitors market. In 2018, according to the American Institute for Cancer Research 300,000 new cases of skin cancer were reported.
High target specificity and affinity is another factor, which is expected to drive growth of the global BRAF-MEK inhibitors market during the forecast period. Product approval is a major driver for the global MEK inhibitors market.
- For Instance, In January 2019, Ono Pharmaceutical Co., Ltd. received manufacturing and marketing approval for MEKTOVI MEK inhibitors in Japan for the treatment of metastatic melanoma with BRAFV600 mutations
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How is the BRAF-MEK Inhibitors Creating Opportunities in the Field of Oncology?
The rising focus on BRAF-MEK inhibitors is likely to create a vast opportunity in the field of oncology. Development of BRAF-MEK inhibitors can serve as a new therapy to treat various malignancies. It is observed that BRAF-MEK can restrict the growth of tumor in people with malignant melanoma by disrupting the activity of MEK and BRAF kinases.
BRAF-MEK inhibitors is a selective inhibitor of the MAPK pathways. It targets a non-ATP site of the mitogen-activated protein kinases (MAP kinases). MAP kinases is a Serine/Threonine phosphorylating enzymes. MAP kinases is also known as extracellular signal-regulated kinases (ERKs). Aberrant signaling through the MAPK pathway can cause cancer.
How Rise in Investments in Cancer Research to Boost BRAF-MEK Inhibitors Market?
Medical research and healthcare are the major index of regional growth and development. Governments in several regions have shifted their funds toward unbounding new possibilities within medical research and healthcare system. Research for cancer has gained immense attention from regional authorities, due to this, the global BRAF-MEK inhibitors market is expected to become a goldmine of opportunities in the next coming years.
A well-known therapy, dual targeted therapy has been proven as a sound line of action for treating several types of diseases. Contemporary researches find that BRAF-MEK inhibitors could be used with BRAF inhibitors for treatment of metastatic melanoma. This research could lead market vendors to invest greater revenues in research and development activities.
Key Segments of BRAF-MEK Inhibitors Market Covered in the Report
Based on drug, the global BRAF-MEK Inhibitors market has been segmented as
Based on distribution channel, the global BRAF-MEK Inhibitors market has been segmented as
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Based on the region, the global BRAF-MEK Inhibitors market has been segmented as
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
Key players such as
- ONO PHARMACEUTICAL CO.LTD
- F. Hoffmann-La Roche Ltd
- Novartis AG
- Pfizer Inc.
- Bristol-Myers Squibb,
- BeiGene LTD
- SpringWorks Therapeutics
- Atriva Therapeutics GmbH
- others are actively involved in offering BRAF-MEK inhibitors.
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What strategies are the Key Players adopting for Increasing their Market Share in the BRAF-MEK Inhibitors Market?
Major manufacturers of the global BRAF-MEK inhibitors have deep product penetration along with extensive distribution networks. Furthermore, the manufacturers of BRAF-MEK inhibitors are focusing on participating in international conferences and trade fairs to encourage their products and develop distribution partnerships and potential R&D collaborations.
Acquisitions, mergers, expansion, product branding, product launches, adoption of new technologies and strengthening of sales force are the key strategies adopted by manufacturers and integrators to increase the consumer base in different geographies
The companies operating in the global BRAF-MEK inhibitors market are also collaborating with research institutes and universities engaged in cancer research. This strategy could help vendors in understanding unmet needs and responding to them.
Why Retail Pharmacies Segment has Significant Growth Potential in BRAF-MEK Inhibitors Market?
The rising growth of the retail pharmacies segment is due to the increasing number of retail pharmacies across the world and easy availability of the BRAF-MEK inhibitors at the stores. Furthermore, the availability of BRAF-MEK inhibitors at specialty pharmacy stores and projected launch of new BRAF-MEK inhibitors during the forecast period are likely to propel the growth of the retail pharmacies segment in the global BRAF-MEK inhibitors market during the forecast period.
What is the Repercussion of the Pandemic on the Growth of the BRAF-MEK Inhibitors Market?
COVID-19 pandemic has caused a disturbance in almost all the industries. Due to the outbreak, health care systems are negatively impacted, and delivery of medical facilities effectively to all patients has become a huge challenge worldwide. Covid-19 pandemic has changed the national healthcare priorities and spending but this is considered to be short-term impact on the chilblains treatment market. Due to global restrictions, the BRAF-MEK inhibitors market initially faced disturbance in the demand and supply, hence market is expected to experience a short-term negative growth.
The outbreak has brought on many aspects, like falling business assurance, uncertainty about future, massive slowing of the supply chain, and others. There has been a disruption in the supply of various API’s required in the production of oncology drugs, however, this is expected to be a temporary effect and the market is expected to recover soon. Furthermore, due to the coronavirus, the flow of patients into the hospitals and clinics have been reduced which has led to decline in the treatment rate.
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The Report Covers Exhaustive Analysis on:
- BRAF-MEK Inhibitors Market Segments
- BRAF-MEK Inhibitors Market Dynamics
- Historical Actual Market Size, 2016 – 2020
- BRAF-MEK Inhibitors Market Size & Forecast 2021 to 2031
- Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Market Drivers and Restraints
Regional Analysis Includes
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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