The global kras inhibitors market has gained significant importance in recent years owing to the increasing prevalence of various types of cancers. Kras inhibitors are biopharmaceutical drugs used for inhibiting the activity of kras protein, which is a crucial signaling protein involved in cell proliferation and survival. Mutations in the KRAS gene, namely KRASG12C, KRASG12D, and KRASG13D are frequently observed in cancers like colorectal cancer, lung cancer, and pancreatic cancer. Kras inhibitors help in arresting the growth and spread of cancer cells by blocking the mutant forms of kras proteins. The emergence of targeted therapies and precision medicine has created favorable opportunities for the development and utilization of kras inhibitors.
The Global Kras Inhibitors Market is estimated to be valued at USD 104.5 Mn in 2024 and is expected to reach USD 146.6 Mn by 2031, growing at a compound annual growth rate (CAGR) of 4.98% from 2024 to 2031.
Key Takeaways
Key players operating in the Global Kras Inhibitors are Amgen Inc., Mirati Therapeutics Inc., Merck & Co., Daiichi Sankyo, and others.
The key opportunities in the Global Kras Inhibitors Market include strong product pipelines, ongoing clinical trials evaluating the efficacy and safety of various Kras inhibitors, expanding applications across multiple cancer indications, and potential new market entrants.
Geographically, North America dominates the global Kras inhibitors market and is expected to continue its dominance over the forecast period owing to high cancer prevalence, strong healthcare infrastructure, and presence of major market players. However, Asia Pacific is anticipated to exhibit the highest growth rate owing to growing healthcare expenditure, rising affordability, and increasing diagnosis and treatment rate of cancer in countries like China and India.
Market Drivers
The primary market driver for the global Kras inhibitors market is the rising prevalence of various cancers worldwide. As per the World Cancer Research Fund International, in 2020, around 19.3 million new cancer cases and 10 million cancer deaths were reported globally. Kras mutations are frequently observed in common cancers like lung cancer, colorectal cancer, and pancreatic cancer. Growing adoption of targeted therapies and development of effective Kras inhibitors will positively influence the market growth over the forecast period.
PEST Analysis
Political: The policy regulations related to drug approval and manufacturing set by regulatory bodies affect the market.
Economic: The economic conditions of different regions determine the expenditure budget of healthcare systems which influences the demand for drug.
Social: The awareness and prevalence of cancer diseases drives the demand for therapeutic drugs in the market.
Technological: New technologies enable improved targeted drug delivery and development of novel molecular entities. Advancements in clinical research augments precision medicine approaches.
Geographical Market Concentration
North America dominates the global Kras inhibitors market in terms of value, with the US being the major revenue generating country. This is attributed to developed healthcare infrastructure, high adoption of advanced cancer diagnostic and treatment options, and presence of leading market players. Europe holds the second position supported by favorable reimbursements and government support for cancer research.
Fastest Growing Regional Market
Asia Pacific shows most promising growth opportunities owing to rising healthcare expenditure, growing cancer patient pool, and increasing focus of international players on emerging economies. Additionally, supportive initiatives from public and private organizations to spread awareness about early detection and treatment of cancer catalyze the market expansion.
Get This Report in Japanese Language: 世界のKras阻害剤市場
Get This Report in Korean Language: 글로벌 크라스 억제제 시장
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
(https://www.linkedin.com/in/ravina-pandya-1a3984191)
