The Braf Kinase Inhibitors Market is estimated to be valued at US$ 1184.51 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Braf kinase inhibitors are targeted therapeutics used for treating metastatic melanoma caused due to BRAF V600 mutation. These are oral kinase inhibitors that selectively inhibit BRAF kinase activity. BRAF protein is an important component of MAPK signaling pathway which regulates cell growth. Mutation in BRAF gene leads to hyperactivation of MEK/ERK pathway resulting in uncontrolled cell proliferation. Braf kinase inhibitors restore normal MEK/ERK pathway activity and inhibit tumor growth.

Market key trends:

One of the key trends contributing to the growth of Braf kinase inhibitors market is increasing R&D investments by major players. Companies are focusing on developing novel drug delivery technologies and novel combination therapies to expand treatment options. For instance, in 2019, F. Hoffmann-La Roche AG announced positive Phase III results for the combination of Tecentriq (atezolizumab) and Cotellic (cobimetinib) plus Zelboraf (vemurafenib) in previously untreated BRAF V600 mutation-positive advanced melanoma. Similarly, Ono Pharmaceutical and Eli Lilly announced positive results from a Phase III trial evaluating the combination of LY3214996, a MEK inhibitor, and sintilimab an anti-PD-1 in BRAFV600 mutation-positive advanced melanoma. These ongoing R&D initiatives are expected to drive the market growth during the forecast period.

Porter's Analysis

Threat of new entrants: The threat of new entrants to the Braf Kinase Inhibitors Market is low due to high capital requirements for R&D and manufacturing of new products.

Bargaining power of buyers: The bargaining power of buyers in the Braf Kinase Inhibitors Market is high as the buyers have numerous treatment options available for cancer treatment.

Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of substitute raw materials suppliers in the market.

Threat of new substitutes: The threat of new substitutes is moderate as new targeted therapies for cancer keep emerging.

Competitive rivalry: High due to the presence of many global players.

SWOT Analysis

Strength: High efficacy rates for specific cancer indications and strong product pipelines. Expansion of approved cancer indications by various regulatory bodies.

Weakness: High treatment cost and potential side effects associated with Braf kinase inhibitors. Heavy dependency on few blockbuster drug patents.

Opportunity: Rising cancer incidence worldwide due to sedentary lifestyle and changing demographics. Growing healthcare expenditure in developing regions.

Threats: Patent expiries of major drugs. stringent regulatory framework.

Key Takeaways

The global Braf Kinase Inhibitors Market is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing cancer incidence worldwide. The market size for 2023 is US$ 1184.51 Mn.

Regionally, North America is expected to dominate the global market during the forecast period. This is attributed to growing healthcare expenditure and rising cancer prevalence in the region. However, Asia Pacific is anticipated to exhibit the fastest growth rate over 2023-2030 owing to increasing awareness about early cancer diagnosis, improving healthcare facilities and rapid adoption of advanced treatment options.

Key players operating in the Braf Kinase Inhibitors market are F. Hoffmann-La Roche AG, Novartis International AG, and Pfizer, Inc. Roche holds the leading market share with its blockbuster drug Zelboraf (vemurafenib) approved for melanoma treatment. While Novartis' Tafinlar+Mekinist (dabrafenib + trametinib) combination enjoys high sales growth in recent years.

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https://www.ukwebwire.com/braf-kinase-inhibitors-market-size-share-growth-outlook-2023/