The global 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.
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.
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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.
The report demonstrates the progress and advancement achieved by the global FMS Like Tyrosine kinase 3 inhibitors Market, including the historical analysis and progress through the forecast years. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals. The report provides an accurate estimation by applying SWOT analysis and Porter’s Five Forces analysis. The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market.
Key players include:
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.
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The report conducts a comparative assessment of the leading market players participating in the global FMS Like Tyrosine kinase 3 inhibitors market.
The report marks the notable developments that have recently taken place in the FMS Like Tyrosine kinase 3 inhibitors industry
It details on the strategic initiatives undertaken by the market competitors for business expansion.
It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the FMS Like Tyrosine kinase 3 inhibitors market value chain.
The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market.
Emergen Research has segmented the global FLT3 inhibitors market based on drug type, therapies, and region:
Drug Type Outlook (Revenue, USD Million; 2019-2030)
Therapies Outlook (Revenue, USD Million; 2019-2030)
Type 1 FLT3 inhibitors
Type 2 FLT3 inhibitors
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This section of the report offers valuable insights into the geographical segmentation of the FMS Like Tyrosine kinase 3 Inhibitors market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.
The report classifies the global FMS Like Tyrosine kinase 3 Inhibitors market into various regions, including:
North America (U.S., Canada)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
Key questions addressed in the report:
Who are the leading players dominating the global FMS Like Tyrosine kinase 3 inhibitors Market?
Which factors could potentially hamper the global market growth during the forecast period?
Which regional market offers the most attractive growth opportunities to the companies operating in this market?
How is the raw material availability affecting the demand for FMS Like Tyrosine kinase 3 inhibitors in this industry vertical?
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