BRAF KINASE INHIBITORS MARKET ANALYSIS

Braf Kinase Inhibitors MarketSize and Trends

The BRAF kinase inhibitors market 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).

Figure 1. Global BRAF Kinase Inhibitors Market Share (%) Analysis, By Drug 2020

The robust pipeline for treatment of metastatic cancers and increasing prevalence of cancer are expected to boost growth of the BRAF kinase inhibitors market

Several companies have ongoing clinical trials of BRAF kinase inhibitors drugs. The robust pipeline of BRAF kinase inhibitor drugs is expected to significantly drive growth of the global BRAF kinase inhibitors market in the near future. For instance, in June 2020, BeiGene, Ltd., a commercial-stage biotechnology company and SpringWorks Therapeutics, Inc., a clinical-stage biopharmaceutical company, announced the presentation of preclinical data and provided a program update on their ongoing Phase 1b/2 study evaluating the combination of BeiGene’s investigational RAF dimer inhibitor, lifirafenib, with SpringWorks’ investigational MEK inhibitor, mirdametinib, in patients with advanced or refractory solid tumors harboring mutations in the MAPK pathway, including those with RAS mutations.

Furthermore, BRAF kinase inhibitors market is expected to witness high growth over the forecast period, owing to increasing incidence and prevalence of metastatic cancer. For instance, according to the Centers for Disease Control and Prevention provided data for 2012 to 2016, around 77,698 new cases of melanoma cancer (45,854 among men and 31,845 among women) were diagnosed every year in the U.S. Moreover, the American Cancer Society estimated that around 100,350 new cases of melanoma will be diagnosed and around 6,850 deaths are estimated to occur due to melanoma in the U.S. in 2020. Hence, such drivers are expected to positively impact the global BRAF kinase inhibitors market growth.