April 20, 2024

Dasatinib Drugs Market Analysis: Understanding Market Dynamics

Dasatinib Drugs Market

The dasatinib drugs market comprises medications that target specific tyrosine kinases that play a role in cancer cell growth. Dasatinib is a potent inhibitor of several tyrosine kinases including BCR-ABL, SRC family kinases, c-KIT, EPH receptor tyrosine kinases, and the platelet-derived growth factor receptor beta. It finds application in the treatment of different types of cancers such as chronic myeloid leukemia (CML), acute lymphoblastic leukemia (ALL), and others. Dasatinib’s ability to elicit clinical activity within a relatively short time frame makes it an attractive treatment option for certain malignancies where rapid response is desirable. 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.

The market offers huge opportunities for players involved in developing novel formulations and patent expiration of blockbuster drugs. Moreover, rising investment in R&D of anti-cancer drugs will further aid market growth.

Globally, the dasatinib drugs market is dominated by North America and Europe owing to growing incidence of hematological cancers and advanced healthcare infrastructure. However, Asia Pacific is witnessing fastest growth due to expansions by key players, rising awareness about cancer treatment, and increasing spending on healthcare.

Market drivers: The global dasatinib drugs market is expected to witness high growth during the forecast period owing to rising prevalence of cancer worldwide. According to WHO, cancer burden has risen to 19.3 million cases and 10 million cancer deaths in 2020. Moreover, growing geriatric population who are more prone to developing various forms of cancer will further drive market growth.
PEST Analysis
Political: The pharmaceutical industry is heavily regulated. Regulations around drug approval, pricing and intellectual property can impact the performance of drug manufacturers.

Economic: The overall economic growth and healthcare spending influences the demand for cancer drugs. Higher disposable incomes increase patient affordability and drive market growth.

Social: Rising cancer incidence rates due to changing lifestyles and an aging population increases the need for effective cancer treatment drugs. Growing health awareness also contributes to market demand.

Technological: Advancements in cancer research improve understanding of disease pathology and aid development of targeted therapies. Increased R&D investment in precision medicine and companion diagnostics by manufacturers can expand the therapeutic scope of cancer drugs.

Geographical regions with high market concentration
North America currently accounts for the largest share of the dasatinib drugs market, followed by Europe. This is attributed to the established healthcare infrastructure, high cancer prevalence, widespread health insurance coverage and strong reimbursement policies in these regions which improve patient access to premium drug therapies.

Fastest growing region
The Asia Pacific region is poised to witness the highest growth over the forecast period owing to the rapidly developing pharmaceutical industry, rising healthcare expenditure, large patient pools and increasing adoption of advanced cancer treatments in emerging economies like India and China.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it