May 18, 2024

Dasatinib Drugs Market drives improvements in cancer therapy

Dasatinib drugs refer to a group of oral prescription drugs used to treat various types of cancer including chronic myeloid leukemia (CML) and Philadelphia chromosome-positive acute lymphoblastic leukemia. Dasatinib works by inhibiting the activity of the BCR-ABL protein, which promotes the growth of cancer cells in CML and Philadelphia chromosome positive ALL. It is part of tyrosine kinase inhibitors (TKIs), a class of drugs that block an enzyme involved in cancer cell growth. Dasatinib increases survival rates and reduces the risk of cancer progression in patients. The global Dasatinib Drugs market provides effective drug solutions for improved oncology care. 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 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends in the Dasatinib Drugs market is the rising adoption in developing regions. Countries like India, China, Brazil, Mexico, and others in Asia Pacific and Latin America are witnessing higher incidences of leukemia and other cancers indicative of growing patient pools in these regions. This provides opportunities for overseas drug developers and market leaders to expand their portfolios and cater to unmet needs. Furthermore, heavy investments in oncology R&D from both public and private entities have led to developments of improved derivative drugs, fixed dose combinations and expanded treatment lines. Ongoing clinical trials also evaluate Dasatinib for new indications like prostate, lung and breast cancers which can further strengthen the market potential over the forecast period.

Porter’s Analysis
Threat of new entrants: The Dasatinib Drugs market requires extensive research and development capabilities to develop new therapies thus posing a high threat of new entrants.
Bargaining power of buyers: The presence of many drug manufacturers and availability of generics increases the bargaining power of buyers.
Bargaining power of suppliers: Requirements for specialized raw materials and drugs manufacturing process results in lower bargaining power of suppliers.
Threat of new substitutes: Availability of alternative targeted cancer therapies poses a moderate threat of new substitutes.
Competitive rivalry: Intense competition exists between established players to gain greater market share through differentiation of product offerings.

Key Takeaways
The global Dasatinib Drugs market is expected to witness high growth.

Regional analysis: North America region currently dominates the Dasatinib Drugs market and is expected to continue its dominance over the forecast period. This is attributed to developed healthcare infrastructure, availability of favorable reimbursement policies, and increasing adoption of cancer targeted therapies. Asia Pacific region is anticipated to exhibit fastest growth over the forecast period owing to growing cancer prevalence, rising healthcare spending, and increasing generic drug production in countries like India and China.

Key players: 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. Bristol-Myers Squibb Company currently holds the leading market share. However, entry of generic producers is expected to intensify competition during the forecast period.

*Note:

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