Global BRAF Kinase Inhibitors Market, by Drug (Vemurafenib, Dabrafenib, Lifirafenib, and Encorafenib), by Indication (Metastatic Melanoma, Metastatic Lung Cancer, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 924.8 Million in 2020 and is expected to exhibit a CAGR of 8.6% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
BRAF kinase inhibitors Market - Impact of Coronavirus (COVID-19) Pandemic
BRAF kinase inhibitor drugs are required for cancer patients at advanced stage, which might be delayed due to pandemic. During this COVID-19 pandemic, surgery, chemotherapy, and immunotherapy of metastatic cancer patients are being postponed or even cancelled. These BRAF kinase inhibitor drugs are a preferred treatment option, as these drugs increase the survival rate of metastatic cancer patients in a cost-effective way. In September 2019, according to the data published in NCBI, the survival rate of a cancer patient increased by 67% who was under BRAF inhibitor plus MEK inhibitor combination therapy within last 12 months. Also, during this pandemic situation, demand for treatment of cancer patients with COVID-19 infection has not reduced but the inadequate supplies of personal protective equipment (PPE) for healthcare providers, limited hospital capacity, including intensive care units (ICUs), and lack of point-of-care testing devices have negatively impacted the treatment of cancer patients to some extent.
The increasing number of product approvals and launches, R&D activities, and collaboration and partnership strategies adopted by key players are major factors, which are expected to drive growth of the BRAF kinase inhibitors market during the forecast period.
The product approvals of advanced BRAF kinase inhibitors from regulatory bodies in the market is expected to contribute significantly to the BRAF kinase inhibitors market growth. For instance, in July 2020, Roche announced that the U.S. Food and Drug Administration (FDA) approved Tecentriq (atezolizumab) plus Cotellic (cobimetinib) and Zelboraf (vemurafenib) for the treatment of BRAF V600 mutation-positive advanced melanoma patients. The safety profile observed in the Tecentriq combination was consistent with the known safety profiles of individual medicines.
New BRAF family kinase inhibitors are being extensively researched to develop new drugs for the treatment of metastatic cancers. Thus, rising R&D activities is expected to propel the BRAF kinase inhibitors market growth over the forecast period. For instance, BeiGene Limited has its experimental RAF family kinase inhibitor lifirafenib (BGB-283) in the pipeline in Phase 1 trials for treatment of cancers including BRAF gene mutations and KRAS/NRAS gene mutations. Furthermore, in May 2020, a new study published in the Journal of Clinical Oncology reported that in a Phase I trial, BeiGene's experimental RAF family kinase inhibitor lifirafenib (BGB-283) demonstrated promising activity in patients with KRAS-mutated non-small cell lung cancer and BRAF-mutated melanoma, thyroid cancer, and ovarian cancer.
Browse 34 Market Data Tables and 32 Figures spread through 184 Pages and in-depth TOC on Global BRAF Kinase Inhibitors Market, by Drug (Vemurafenib, Dabrafenib, Lifirafenib, and Encorafenib), by Indication (Metastatic Melanoma, Metastatic Lung Cancer, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Forecast to 2027"
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The rising adoption of inorganic growth strategies such as collaborations and partnerships by major companies is expected to drive growth of the BRAF kinase inhibitors market. For instance, in January 2015, Pierre Fabre and Array BioPharma Inc. (acquired by Pfizer Inc. in July 2019) announced a collaboration to globally develop and commercialize Array’s late-stage novel oncology products, binimetinib and encorafenib. Binimetinib, a MEK inhibitor and encorafenib, a BRAF inhibitor, are currently advancing in three global Phase 3 trials for melanoma and ovarian cancer. Pierre Fabre has the exclusive rights to commercialize both products in all other countries, including Europe, Asia, and Latin America.
Key Takeaways of the BRAF Kinase Inhibitors Market: