March 1, 2024

Dasatinib Drugs Market Propelled by Increasing Prevalence of Chronic Myeloid Leukemia

Dasatinib Drugs are commonly used in the treatment of certain types of cancer like chronic myeloid leukemia (CML). These drugs block cancer cell growth by inhibiting specific enzymes called tyrosine kinases that are important in cancer cell signaling and cell division. With increasing cancer incidence globally, the demand for effective targeted cancer therapies like dasatinib drugs is also growing. The global Dasatinib Drugs Market is estimated to be valued at US$ 1350.06 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Increasing Prevalence of Chronic Myeloid Leukemia
According to World Health Organization (WHO), the worldwide annual incidence of chronic myeloid leukemia (CML) is estimated to be 1 to 2 cases per 100,000 persons. Around 6,000 new cases are reported each year in the United States. While CML can occur at any age, it is generally diagnosed in adults between 40-60 years of age, with a median age of about 65 years at diagnosis. The high prevalence of CML and limited treatment options available have significantly fueled the demand for effective targeted therapies like dasatinib drugs. Several scientific studies have demonstrated the role of dasatinib drugs in effectively managing chronic phase CML, accelerated phase CML and blast crisis CML with improved safety profiles. This increasing prevalence of CML and promising therapeutic efficacy of dasatinib drugs are expected to drive the growth of dasatinib drugs market substantially over the forecast period.

SWOT Analysis
Strength: Dasatinib is an effective treatment option for certain types of cancers like chronic myeloid leukemia. It has shown significant positive outcomes in clinical trials.
Weakness: Dasatinib has some serious side effects like hemorrhage, fluid retention, diarrhea etc. which can affect patient compliance. It also has complex dosage mechanisms.
Opportunity: Rising incidence rates of cancer globally is expected to drive the demand for effective targeted therapy drugs like Dasatinib. There is scope for developing improved drug delivery methods to reduce side effects.
Threats: Patent expiration of major brands enables generic competition which can erode prices. Stringent regulatory approvals and legal battles also pose challenges.

Key Takeaways
The global Dasatinib drugs market is expected to witness high growth over the forecast period.

Regional analysis: The North American region currently dominates the market due to large patient population and higher adoption of premium drugs. Asia Pacific is anticipated to grow at the fastest pace owing to rising healthcare investments, greater disease awareness and increasing accessibility of cancer treatment.

Key players operating in the Dasatinib drugs market are Bristol-Myers Squibb Company, MSN Labs, Lupin, Dr. Reddy’s Laboratories, Gilead Sciences, Inc., Hetero Labs, MANUS AKTTEVA BIOPHARMA LLP, Alembic Pharma, JINLAN Pharm-Drugs Technology Co., Ltd., and Zhejiang Hisun Pharma. Dasatinib is prescribed for the treatment of adults with Philadelphia chromosome-positive chronic myeloid leukemia. While these companies currently hold leading shares, generic alternatives are expected to capture substantial market share in future once major patents expire. The players are focusing on expanding their geographic presence and introducing improved delivery technologies.

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  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it