Small Molecule Kinase Inhibitors Market

Emphasis on Discovery of Effective Drugs for Oncology Cancer to Propel Market Growth

Small molecule kinase inhibitors have garnered immense popularity in recent years, owing to noteworthy progress in the development of small molecule kinase drugs. In the current scheme of things within the oncology field, research activities are mainly focused on small molecule kinase inhibitors due to which, the global small molecule kinase inhibitors market is likely to witness consistent growth in the upcoming decade. Traditionally, kinases have remained one of the most pursued targets, especially in the cancer drug discovery programs around the world, and the trend is set to continue over the upcoming decade with the increasing focus on the development of small molecule kinase inhibitors.

The approval from the U.S. FDA in the early 2000 for imatinib was a game changer for the players operating in the small molecule kinase inhibitors market. At present, a number of market players is seeking the approval from the FDA and other regulatory bodies for the newly developed small molecule kinase inhibitors. A consistent rise in the uptake of small molecule kinase inhibitors for the treatment of cancer is projected to play a key role in the overall growth of the global small molecule kinase inhibitors market during the forecast period. Several of “first in class” small molecule kinase inhibitors have been commercialized in recent times and the analysts at Transparency Market Research are of the opinion that the trend is set to continue during the assessment period.

Market Players Eye FDA Approval to Cement Market Position

In recent years, protein kinases have emerged as noteworthy drug targets for oncology. Research and development expenditure within the small molecule kinase inhibitors market has spiked at an exponential rate over the past few years– a trend that is expected to continue during the assessment period. As deregulation of signaling pathway is one of the traits of cancer, protein kinases have garnered immense popularity as successful target class for the overall development of the cancer treatment. At present, nearly 40 small molecule kinase inhibitors have attained the FDA approval of which, a majority of them is utilized in oncology applications. A number of small molecule kinase inhibitors is currently in the clinical trials phase and as per the current observations, these are most likely to receive approval in the upcoming years. Promising prospects in the pipeline are expected to provide a considerable boost to the growth of the market for small molecule kinase inhibitors during the assessment period.

Increase in Applications of Small Molecule Kinase Inhibitors in Pancreatic Cancer to Boost Market

Pancreatic cancer is one of the most lethal forms of cancers and continues to affect millions of individuals worldwide. Due to the highly metastatic character of the disease, existing therapies are falling short in terms of efficacy and long-term results– a factor that is driving innovations and likely to increase the number of research and development activities in the upcoming years. A number of clinical trials offers promise and could potentially address the unmet challenges within the small molecule kinase inhibitors market. The COVID-19 pandemic is set to have a moderate impact on the global small molecule kinase inhibitors market. While R&D activities are expected to continue in full swing, the uptake of small molecule kinase inhibitors is projected to witness a slight decline in 2020, as focus and preference are anticipated to be given to therapies and treatments that prevent the transmission of the novel COVID-19 infection. Market players are expected to evaluate the potential uses of small molecule kinase inhibitors in the fight against the ongoing COVID-19 pandemic.