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The dasatinib drugs market comprises drugs used for the treatment of chronic myeloid leukemia (CML) and Philadelphia chromosome-positive acute lymphoblastic leukemia (Ph+ ALL). Dasatinib is a kinase inhibitor approved by the FDA to treat newly diagnosed adult patients with Philadelphia chromosome-positive CML in chronic phase and to treat patients with CML or Ph+ ALL whose disease is resistant or intolerant to prior therapy, which includes imatinib. The drug inhibits the Bcr-Abl tyrosine kinase, an abnormal fusion protein generated due to Philadelphia chromosome translocation, which results in leukemia. 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.
Some of the key opportunities in the dasatinib drugs market include new patent expiration for branded drugs providing opportunity for generics, growth in healthcare spending in emerging nations, and collaborations for the development of fixed-dose combination therapies.
The dasatinib drugs market is witnessing significant expansion globally, especially in Asia Pacific and Latin America. Major players are focusing on strengthening their footprint in high-growth emerging markets through collaborations and strategic partnerships with regional players.
Market drivers
The key driver for the growth of the dasatinib drugs market is the rising prevalence of cancer globally. According to the Global Cancer Observatory, the annual cancer cases are estimated to rise from 18.1 million in 2018 to 29.5 million by 2040. Moreover, increasing healthcare expenditures and availability of generics post patent expiration of branded drugs are also fueling the demand for dasatinib drugs across the globe.
PEST Analysis
Political: Healthcare policies and regulations have an impact on development and sales of targeted cancer therapies like Dasatinib. Approval norms for generics and biosimilars influence competition.
Economic: Economic growth, healthcare spending, and insurance coverage affect individual affordability and demand. Recession may impact discretionary spends on specialty drugs.
Social: Growing cancer incidence, elderly population, health awareness, and changing lifestyles influence demand for treatments. Social media offers patients communities to share experiences.
Technological: R&D in molecular biology, analytics, and individualized therapies improves treatment outcomes. E-prescriptions, digital health records enable efficient supply chain and monitoring.
North America region accounted for the largest share of the dasatinib drugs market in terms of value owing to large cancer patient pool, high healthcare spending, and presence of key market participants. The Asia Pacific region is expected to grow at the fastest pace during the forecast period due to rising standards of living, increasing healthcare investments, growing cancer awareness, and improving access to treatments.
Europe constitutes a major geographical region for the dasatinib drugs market. Countries like Germany, UK, France and Italy have well-developed healthcare systems. Higher affordability for specialty drugs and large pharmaceutical industries drive domestic demand. Japan dominates the Asian market while China represents the fastest country-level growth potential given its huge population size and evolving healthcare infrastructure.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
