Global Mitogen-Activated ERK Kinase (MEK) Inhibitors Market, By Target (MEK1, MEK2), Type (MEKINIST (Trametinib), COTELLIC (Cobimetinib), MEKTOVI (Binimetinib)), Application (NSCLC, Cancer, Others), Dosage (Tablets, Others), Route of Administration (Oral, Others), End-Users (Clinic, Hospital, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) - Industry Trends and Forecast to 2029.
Market Analysis and Insights
In recent years, the mitogen-activated ERK kinase (MEK) inhibitors market is anticipated to grow rapidly during forecast period of 2022-2029. MEK inhibitors are a type of MAPK pathway inhibitor that is very selective. It binds to a Mitogen-activated protein kinase non-ATP site (MAP kinases). Earlier, MEKINIST (Trametinib) segment had a largest share and this segment will continue to hold the largest market share owing to presence of protein kinase and cellular proliferation along with the treatment of melanoma.
- MEK inhibitors are developed as a new treatment for a variety of cancers. MEK inhibitors are tiny molecules that prevent mitogen-activated extracellular signal-regulated kinase from activating. MEK inhibitors suppress the activation of MEK and BRAF kinases, which slow tumor growth in persons with metastatic melanoma.
- Data Bridge Market Research analyses that the mitogen-activated ERK kinase (MEK) inhibitors market will grow at a CAGR of 7.20% during the forecast period of 2022 to 2029.
Mitogen-Activated ERK Kinase (MEK) Inhibitors Market Dynamics
Drivers
- Prevalence of cancer will increase market demand.
The rise in the prevalence of cancer act as a major driver that will result in the expansion of the growth rate of the treatment market.
- Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of mitogen-activated ERK kinase (MEK) inhibitors market is the rising healthcare expenditure which helps in improving its infrastructure.
Furthermore, advancement in medical technology, rising initiatives by public and private organizations to spread awareness about new treatment options and growing government funding are the factors that will expand the mitogen-activated ERK kinase (MEK) inhibitors market. Other factors such as growing geriatric population and rising number of patients suffering from melanoma will positively impact the mitogen-activated ERK kinase (MEK) inhibitors market's growth rate. Additionally, high disposable income, continuous changing lifestyle and high target affinity and specificity will result in the expansion of mitogen-activated ERK kinase (MEK) inhibitors market.
Opportunities
- Rise in the investment for R&D by public and private organizations
Moreover, the rise in the research and development activities and increasing use of protein biomarkers in diagnosis of NSCLC will boost new opportunities for the market's growth rate.
Also, continuous economic development and the launch of new products will escalate the growth rate of mitogen-activated ERK kinase (MEK) inhibitors market in the future.
Restraints/Challenges
However, high cost associated with the drug and lack of infrastructure in low-income countries will impede the growth rate of mitogen-activated ERK kinase (MEK) inhibitors market. Additionally, side effects involved with the medication will hinder the mitogen-activated ERK kinase (MEK) inhibitors market growth. The lack of awareness will further challenge the market in the forecast period mentioned above.
This mitogen-activated ERK kinase (MEK) inhibitors market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on mitogen-activated ERK kinase (MEK) inhibitors market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Patient Epidemiology Analysis
Mitogen-activated ERK kinase (MEK) inhibitors market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
COVID-19 Impact on Mitogen-Activated ERK Kinase (MEK) Inhibitors Market
Since its emergence in December 2019, the COVID-19 virus has spread to nearly every country on the planet, prompting the World Health Organization (WHO) to declare it a public health emergency. COVID-19's effects are being felt all over the world. Lockdowns and isolation during pandemics complicate the disease management and medication adherence. Due to the financial crisis and the delay in specialty healthcare delivery while prioritizing COVID-19-related treatments, healthcare systems around the world have been severely disrupted in the aftermath of the coronavirus pandemic. The crisis and its consequences have resulted in a worldwide drop in cancer care or a deferral of tumor surgery. Such considerations may have a negative impact on the market of mitogen-activated ERK kinase (MEK) inhibitors.
Recent Development
- In 2021, United States Food and Drug Administration (USFDA) had approved novel MEK1/2 inhibitor named Koselugo. It is a new MEK 1/2 inhibitor which is used in the treatment of Neurofibromatosis type 1 (NF-1) in a specific age group.
Mitogen-Activated ERK Kinase (MEK) Inhibitors Market Scope
The mitogen-activated ERK kinase (MEK) inhibitors market is segmented on the basis of target, application, type, dosage, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Target
- MEK1
- MEK2
On the basis of target, the mitogen-activated ERK kinase (MEK) inhibitors market is segmented into MEK1 and MEK2
Type
- MEKINIST (Trametinib)
- COTELLIC (Cobimetinib)
- MEKTOVI (Binimetinib)
On the basis of type, the mitogen-activated ERK kinase (MEK) inhibitors market is segmented into MEKINIST (Trametinib), COTELLIC (Cobimetinib) and MEKTOVI (Binimetinib).
Application
- NSCLC
- Cancer
- Others
On the basis of application, the mitogen-activated ERK kinase (MEK) inhibitors market is segmented into NSCLC, cancer and others.
Dosage
- Tablets
- Others
On the basis of dosage, the mitogen-activated ERK kinase (MEK) inhibitors market is segmented into tablets and others.
Route of Administration
- Oral
- Others
On the basis of route of administration, the mitogen-activated ERK kinase (MEK) inhibitors market is segmented into oral and others.
End-Users
- Clinic
- Hospital
- Others
On the basis of end-users, the mitogen-activated ERK kinase (MEK) inhibitors market is segmented into clinic, hospital and others.
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
The mitogen-activated ERK kinase (MEK) inhibitors market is also segmented on the basis of distribution channel into hospital pharmacy, retail pharmacy and online pharmacy.
Mitogen-Activated ERK Kinase (MEK) Inhibitors Market Regional Analysis/Insights
The mitogen-activated ERK kinase (MEK) inhibitors market is analysed and market size insights and trends are provided by country, target, type, application, dosage, route of administration, end-users and distribution channel as referenced above.
The countries covered in the mitogen-activated ERK kinase (MEK) inhibitors market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the mitogen-activated ERK kinase (MEK) inhibitors market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the presence of major key players and well-developed healthcare infrastructure in this region.
Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period due to the increasing patient pool, rising investment in the healthcare sector and growing government support.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Mitogen-Activated ERK Kinase (MEK) Inhibitors Market Share Analysis
The mitogen-activated ERK kinase (MEK) inhibitors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to mitogen-activated ERK kinase (MEK) inhibitors market.
Some of the major players operating in the mitogen-activated ERK kinase (MEK) inhibitors market are ONO PHARMACEUTICAL CO., LTD., Novartis AG, F. Hoffmann-La Roche Ltd, Pfizer Inc., AstraZeneca, ATRIVA THERAPEUTICS GMBH, BeiGene, Bayer AG, SpringWorks Therapeutics, and GlaxoSmithKline plc, among others.
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