The global FMS-Like Tyrosine kinase 3 (FLT3) inhibitors market size was USD 405.6 Million in 2021 and is expected to register a revenue CAGR of 14.6% during the forecast period, according to the latest analysis by Emergen Research. Rising high-value investments for Research and Development (R&D) initiatives by various major pharmaceutical companies for improvement in therapy tolerability and drugs is a key factor driving market revenue growth. In addition, rising incidences of Acute Myeloid Leukemia (AML) and relapse cases, a growing number of potential pipeline drugs, and increasing approvals of new FLT3 inhibitor drugs by regulatory bodies are driving the revenue growth of the FLT3 inhibitors market.
With the reader's comprehension in mind, the team of analysts at Emergen Research painstakingly put up the new study named "Global FMS Like Tyrosine kinase 3 inhibitors Market." A sizable database on industry distribution is also included. The study takes into account both historical and current market conditions in order to forecast the worldwide FMS Like Tyrosine kinase 3 inhibitors Market outlook during the forecast period (2022–2030). Researchers who thoroughly examined the global market were able to identify the factors affecting the industry's overall growth. Strong analytical techniques, such as SWOT analysis and Porter's Five Forces, are used in the research to assess the strengths, weaknesses, opportunities, and threats connected to the growth of different market segments.
According to Novartis, AML accounts for approximately 25% of all adult leukemias and has the lowest survival rate. FDA has now authorized three FLT3 inhibitors for use in the U.S. Midostaurin is approved for first-line treatment with chemotherapy, but gilteritinib is approved for R/R disease. Quizartinib and crenolanib are two new AML inhibitors in late-stage development for first-line and R/R treatments. Various advantages of improved targeted medicines, such as increased long-term survival rates, quality, and safety, are driving the growth of the FLT3 inhibitors market. According to Cancer.net, the 5-year survival rate for individuals aged 20 years and older with AML is 27%, whereas it is 69% for individuals younger than 20. In addition, the prognosis and survival of AML patients are strongly dependent on their mutation profile and age. Lower survival rates are due to the aging patient population's unfavorable mutation profile mixed with their inability to tolerate intense therapy.
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Competitive Terrain:
The global FMS Like Tyrosine kinase 3 Inhibitors industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
Leading Market Players Profiled in the Report:
Astellas Pharma Inc., Novartis AG, Pfizer Inc., Daiichi Sanyo Company, Limited, Cullinan Oncology, Inc., AROG Pharmaceuticals, Inc., Aptose Biosciences Inc., FUJIFILM Pharmaceuticals U.S.A., Inc., CSPC Pharmaceutical Group Limited, and Allarity Therapeutics, Inc
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Some Key Highlights From the Report
The gilteritinib segment accounted for largest revenue share in 2021 owing to continuing clinical trials and increasing regulatory approvals. Gilteritinib, which is a kinase inhibitor, is recommended for people with acute myeloid leukemia that has relapsed or become resistant to treatment and has FLT3-TKD or FLT3-ITD mutation. This can increase patients survival rates, which is one of the main requirements for getting regulatory approval. For patients with severe, relapsing, or refractory illness, gilteritinib is a safe, mutation-targeted therapeutic option. A complex pyrazine carboxamide derivative, medication also has increased activity, selectivity, and effectiveness against FLT3-TKD and FLT3-ITD mutations.
Type 1 FLT3 inhibitors segment accounted for largest revenue share in 2021 owing to increasing number of successful clinical trials and research studies. Type 1 inhibitors are more effective in AML cells containing either ITD or TKD mutations as they inhibit ATP binding in contrast to Type 2 FLT3 inhibitors. Moreover, Type 1 FLT3 inhibitors can be used in patients who have relapsed owing to acquired TKD mutations, which is one of the key factors driving revenue growth of the market. Type 1 inhibitors include midostaurin, crenolanib, and gilteritinib. Additionally, better efficacy, fewer side effects, and low toxicity of drugs are major factors driving revenue growth of this segment.
The North America market accounted for largest revenue share in 2021. A few factors driving market revenue growth include surging number of AML patients, rising requirement for targeted therapies as well as increasing investments by major pharmaceutical companies for R&D in the area of FLT3 inhibitors drug development. Furthermore, rising collaborations between governments and pharmaceutical companies and increasing number of approval of new innovative drugs along with a number of potential pipeline drugs are significantly contributing to growth of the FLT3 inhibitors market in North America.
Key market aspects studied in the report:
Market Scope: The report explains the scope of various commercial possibilities in the global FMS Like Tyrosine kinase 3 Inhibitors market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Competitive Outlook: The leading companies operating in the FMS Like Tyrosine kinase 3 Inhibitors market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global FMS Like Tyrosine kinase 3 Inhibitors market.
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Market Overview:
The report bifurcates the FMS Like Tyrosine kinase 3 Inhibitors market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Drug Type Outlook (Revenue, USD Million; 2019-2030)
Midostaurin
Gilteritinib
Sorafenib
Therapies Outlook (Revenue, USD Million; 2019-2030)
Type 1 FLT3 inhibitors
Type 2 FLT3 inhibitors
Regional Outlook (Revenue, USD Million; 2019–2030)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa
Regional Outlook:
North America (the U.S., Canada, Mexico)
Europe (the U.K., Germany, France, Italy)
Asia Pacific (India, China, Japan, Korea)
Latin America (Brazil, Argentina, Ecuador, Chile)
Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)
Key reasons to buy the Global FMS Like Tyrosine kinase 3 Inhibitors Market report:
The latest report comprehensively studies the global FMS Like Tyrosine kinase 3 Inhibitors market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products & services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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