The dasatinib drugs market overview comprises drugs used for the treatment of chronic myeloid leukemia and other cancers. Dasatinib is part of a group of drugs known as tyrosine kinase inhibitors that work by blocking proteins called tyrosine kinases, which help cancer cells grow. These drugs are prescribed as a form of targeted therapy due to their ability to kill cancer cells while causing minimal damage to normal cells. The global dasatinib drugs market is estimated to be valued at US$ 1350.6 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the dasatinib drugs market are Bristol-Myers Squibb Company, MSN Labs, Lupin, Dr. Reddy’s Laboratories, Gilead Sciences, Inc., Hetero Labs, MANUS AKTTEVA BIOPHARMA LLP, Alembic Pharma, JINLAN Pharm-Drugs Technology Co., Ltd., and Zhejiang Hisun Pharma. Bristol-Myers Squibb Company leads the market with its blockbuster drug Sprycel being the largest revenue generator.
The market offers significant opportunities with rising demand for cost-effective generic drugs following patent expirations of branded drugs. Several companies are investing in developing novel drug delivery systems and fixed-dose combinations to capture more shares. Product approvals and launches across emerging markets in Asia Pacific and Latin America will be key to driving future growth.
The global expansion of major players through partnerships, acquisitions, and licensing agreements allow companies to strengthen their market presence. These activities along with advancement in R&D will help expand therapeutic applications of dasatinib drugs and sustain market growth in the long run.
Market Drivers
Growth of the dasatinib drugs market is majorly driven by rising cancer incidence globally. According to Globocan 2020, there were over 19 million new cancer cases and 10 million cancer deaths worldwide. Dasatinib drugs continue to witness higher adoption rates among chronic myeloid leukemia (CML) patients resistant or intolerant to other therapy options such as imatinib.
Market Restraints
Stringent regulatory policies for drug approvals can hinder market growth. Further, pricing pressures and availability of alternative drug therapies restrict the widespread adoption of dasatinib drugs. Patent expirations of major drugs also pose a challenge as it allows the entry of generic competitors with lower-priced alternatives.
Segment Analysis
The dasatinib drugs market can be segmented based on distribution channel into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominates the market as dasatinib drugs are mainly prescribed by oncologists to cancer patients. The treatment administration and monitoring of cancer patients are better facilitated via hospital pharmacies.
Global Analysis
Regionally, North America holds the major share in the dasatinib drugs market and is expected to continue dominating over the forecast period. This is attributed to the presence of established manufacturers in the region and growing incidence of cancer. The market in Asia Pacific is expected to grow at the fastest pace owing to rising healthcare expenditures, increasing incomes, growing awareness regarding cancer treatment, and availability of generic dasatinib drugs from domestic players at affordable prices.
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