Protein phosphorylation is one of the most studied and important mechanisms used by cells to regulate their proteins in terms of functions, enzymatic activity, localization, interactions with other proteins or ligands, etc. It is also an essential mechanism of signal transduction between and within cells. Protein phosphorylation on tyrosine, serine, and threonine residues is carried out by a family of enzymes, called protein kinases. It comprises at least 538 members that are divided into tyrosine, serine/threonine, pseudo-, and histidine kinases. Some of the serine/threonine kinases are the so-called dual specificity (as they also phosphorylate tyrosine residues).
The global dual specificity protein kinase TTK inhibitors market is estimated to be valued at US$ 51.92 million in 2021 and is expected to exhibit a CAGR of 22% during the forecast period (2021-2028).
Figure 1.Global Dual Specificity Protein Kinase TTK Inhibitors Market Share (%), by Product Type, 2028
Increasing prevalence of cancer is expected to drive the market growth during the forecast period.
Increasing prevalence of different types of cancers such as solid tumor, breast cancer, metastatic breast cancer, colorectal cancer, solid tumor, prostate cancer, pancreatic ductal adenocarcinoma, and others is expected to drive the global dual specificity protein kinase TTK inhibitors market growth over the forecast period. For instance, according to the World Health Organization (WHO) report, in 2018, approximately 9.6 million people died from cancer worldwide.
|Base Year:||2020||Market Size in 2021:||US$ 51.92 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||22%||2028 Value Projection:||US$ 209.10 Mn|
Bayer AG, Pfizer Inc., Boston Pharmaceuticals, Nerviano Medical Sciences S.R.L (Part of NMS group), and Servier Laboratories
|Restraints & Challenges:||
Figure 2.Global Dual Specificity Protein Kinase TTK Inhibitors Market Share (%), by Application, 2028
The increasing number of pipeline molecules of dual specificity protein kinase TTK inhibitors is expected to drive the market growth during the forecast period.
The increasing number of pipeline molecules of dual specificity protein kinase TTK inhibitors as a targeted therapy for various types of cancer is expected to propel the global dual specificity protein kinase TTK inhibitors market growth over the forecast period. For instance, in October 2018, Canadian Cancer Trials Group, a cooperative oncology group that designs and administers clinical trials in cancer therapy, supportive care, and prevention across Canada, initiated a Phase Ib and open label Phase II study of CFI-402257, an oral drug that blocks TTK protein kinase in combination with Paclitaxel in patients.
Global Dual Specificity Protein Kinase TTK Inhibitors Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 outbreak in December 2019, the disease has spread to over 100 countries across the globe. The WHO declared it a public health emergency on 30 January 2020.
The COVID-19 has affected the economy in three main ways: by directly affecting production and demand, disrupting distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others are facing problems regarding the transportation of drugs.
Moreover, players operating in the global dual specificity protein kinase TTK inhibitors market are facing major challenges on various fronts due to the COVID-19 pandemic. Major challenges include limited supply of raw materials required for manufacturing drug formulations due to irregularities in transportation. Additionally, distributors are experiencing irregular demand for products from retailers due to increasing cases of COVID-19 along with other life threatening disorders.
Global Dual Specificity Protein Kinase TTK Inhibitors Market Restraint
Major factors that hinder the growth of the global dual specificity protein kinase TTK inhibitors market include the high cost of treatment and limited access to advanced medical treatments in low-income countries
Major players operating in the global dual specificity protein kinase TTK inhibitors market include Bayer AG, Pfizer Inc., Boston Pharmaceuticals, Nerviano Medical Sciences S.R.L (Part of NMS group), and Servier Laboratories.
Protein kinases play an important role in the catalytic activity and signaling functional transduction of critical cellular processes. TTK, also called monopolar spindle 1 (Mps1), is a dual specificity kinase that causes the phosphorylation of both tyrosine and serine/threonine residues. It is one of the spindle assembly checkpoint (SAC) that facilitates the alignment of chromosomes on the metaphase plate in mitosis which is associated with the progression of the cell cycle. TTK is essential for the right alignment of all chromosomes, and subsequently, correct attachment to the mitotic spindle. Targeting this kinase may effectively block chromosome segregation during mitosis, and it could be a great invention for cancer therapy.
The increased per capita healthcare spending has enhanced research and development activities for the treatment of chronic diseases, which is expected to drive the global dual specificity protein kinase TTK inhibitors market growth over the forecast period. According to the World Bank estimates in 2019, the per capita healthcare expenditure increased significantly in Latin America. The healthcare expenditure in Latin America was around US$ 638 Mn in 2016, which increased to US$ 666 Mn by 2018.
Increasing approvals for product launches by the regulatory bodies is also expected to drive the market growth over the forecast period. For instance, in January 2019, Dacomitinib, a selective and irreversible inhibitor of EGFR by Pfizer Inc., a leading research-based biopharmaceutical company, received approval from the Ministry of Health, Labour and Welfare of Japan for the treatment of EGFR mutation-positive inoperable or recurrent non-small cell lung cancer (NSCLC).
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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