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 latest analysis by Emergen Research. Rising high-value investments for Research & 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, growing number of potential pipeline drugs, and increasing approvals of new FLT3 inhibitor drugs by regulatory bodies are driving revenue growth of the FLT3 inhibitors market.
The Global FMS Like Tyrosine kinase 3 Inhibitors Market Report offers extensive knowledge and information about the FMS Like Tyrosine kinase 3 Inhibitors market pertaining to market size, market share, growth influencing factors, opportunities, and current and emerging trends. The report is formulated with the updated and latest information of the global FMS Like Tyrosine kinase 3 Inhibitors market further validated and verified by the industry experts and professionals. The Global FMS Like Tyrosine kinase 3 Inhibitors Market report contains historical, current, and forecast estimation of the revenue generation and profits for each segment and sub-segment of the FMS Like Tyrosine kinase 3 Inhibitors market in each key region of the world. The report additionally sheds light on the emerging growth opportunities in the business sphere that are anticipated to bolster the growth of the market.
According to Novartis, AML accounts for approximately 25% of all adult leukemia and has 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 treatment. Various advantages of improved targeted medicines, such as increased long-term survival rates, quality, and safety, are driving 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, prognosis and survival of AML patients is strongly dependent on mutation profile and age.
Lower survival rates are due to aging patient population’s unfavorable mutation profile mixed with their inability to tolerate intense therapy. Moreover, availability of medications with effectiveness and minimal toxicity, as well as oral formulations, is driving demand for FLT3 inhibitors, specifically among elderly and weak patients. On 4 November 2021, the Menarini Group received FDA granted Orphan Drug Designation (ODD) to SEL24/MEN1703 for treatment of AML. SEL24/MEN1703 is a first-in-class, orally accessible, dual PIM/FLT3 inhibitor that Menarini in-licensed from Ryvu Therapeutics and is now being studied as a single drug in DIAMOND-01 study for treatment of patients with relapsed/refractory AML.
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The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the FMS Like Tyrosine kinase 3 Inhibitors market. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also offers estimations and predictions about the market segment and sub-segments exhibiting promising growth in the forecast timeline. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the FMS Like Tyrosine kinase 3 Inhibitors market. It offers fruitful insights into the business sphere to help businesses capitalize on the lucrative growth opportunities.
The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.
Key Players Profiled in the Report are:
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.
Furthermore, the report provides a comprehensive overview of the FMS Like Tyrosine kinase 3 Inhibitors market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.
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Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the FMS Like Tyrosine kinase 3 Inhibitors market expected to boost the growth of the industry in the coming years.
Emergen Research has segmented the global FLT3 inhibitors market based on drug type, therapies, and region:
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
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