Global BRAF-MEK Inhibitors Market Is Expected To Become A Goldmine Of Opportunities In The Next Coming Years
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 Key Challenges that may Restrain Growth of the Global BRAF-MEK Inhibitors Market?
There are some of the factors that are expected to restrain the global BRAF-MEK inhibitors market such as adverse effects of BRAF-MEK inhibitors, such as diarrhea, rash, fatigue, peripheral edema, and dermatitis acneiform and stringent regulations on new therapeutics development. Furthermore, the era of moderation and healthcare reform is expected to negatively affect the pharmaceutical companies’ ability to gain reimbursement approval for their new melanoma therapies.
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.
Why is the U.S. a Big Market for BRAF-MEK Inhibitors?
Although melanoma, far less prevalent than non-melanoma skin cancers, is the major cause of death from skin cancer and is more likely to be reported and accurately diagnosed than non-melanoma skin cancers. In U.S., since the early 1970s, melanoma incidence is increasing significantly, for example an average 4 percent every year in the United States. Many studies indicate that the risk of malignant melanoma correlates with genetic and personal characteristics, and a person’s UV exposure behaviour. The presence of major players in the country is also driving the growth of the global BRAF-MEK inhibitors.
Furthermore, U.S. is the leading the BRAF-MEK inhibitors market due to the factors such as increase in approval of BRAF-MEK Inhibitors by major players in the country.
- For instance, In May 2017, ONO PHARMACEUTICAL CO., LTD. and Array BioPharma Inc. signed a license agreement to develop and commercialize MEKTOVI in the U.S.
Why China and India dominating Asia Pacific in BRAF-MEK Inhibitors Market?
India and China are likely to witness the maximum demand for BRAF-MEK Inhibitors in Asia Pacific during the forecast period. Major players of BRAF-MEK inhibitors have been highly investing in China and India due to a large patient base. Furthermore, the rising healthcare expenditure and disposable incomes is likely to drive the global BRAF-MEK inhibitors market growth in the country.
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.
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