DUAL SPECIFICITY PROTEIN KINASE TTK INHIBITOR MARKET ANALYSIS

The global dual specificity protein kinase Ttk inhibitor market is estimated to be valued at US$ 76.6 million in 2023 and is expected to exhibit a CAGR of 22.3% during the forecast period (2023-2030).

Analysts’ Views on Global Dual Specificity Protein Kinase Ttk Inhibitor Market:

Dual specificity protein kinase Ttk inhibitor act as both tyrosine kinase and serine/threonine kinase. CLK1 phosphorylates serine- and arginine-rich proteins that are involved in pre-mRNA processing. Clk2 and Clk3 cause the redistribution of Serine and arginine-rich(SR) proteins and can regulate the alternative splicing of precursor mRNA. Protein phosphorylation is one of the most studied and important mechanisms used by cells to regulate their proteins in terms of functions, enzymatic activity, localization, interactions with other proteins or ligands, and others. It is also an essential mechanism of signal transduction between and within cells. Protein phosphorylation on tyrosine, serine, and threonine residues is carried out by a family of enzymes called protein kinases.

Figure 1. Global Dual Specificity Protein Kinase Ttk Inhibitor Market Share (%), By Product Type, 2023

To learn more about this report, Request sample copy

Global Dual Specificity Protein Kinase Ttk Inhibitor Market– Drivers

Increasing prevalence of cancer is expected to drive the market growth during the forecast period: The increasing prevalence of different types of cancers, such as solid tumor, breast cancer, metastatic breast cancer, colorectal cancer, solid tumor, prostate cancer, pancreatic ductal adenocarcinoma, and others, is expected to drive the global dual specificity protein kinase Ttk inhibitor market growth over the forecast period. For instance, in 2020, according to the America Association of Cancer, approximately 1,414,259 people were diagnosed with prostate cancer.

Increasing number of pipeline molecules of dual specificity protein kinase Ttk inhibitor: The increasing number of pipeline molecules of dual specificity protein kinase Ttk inhibitor as targeted therapies for various types of cancer such as breast cancer, and others, which is expected to propel the global dual specificity protein kinase Ttk inhibitor market growth over the forecast period. For instance, on January 11, 2023, the U.S. Food and Drug Administration (U.S. FDA) granted a fast-track designation to threonine tyrosine kinase (Ttk) inhibitor CFI-402257 for monotherapy, which is used in combination with fulvestrant (Faslodex), for the treatment of adult patients with estrogen receptor (ER)-positive/HER2-negative advanced breast cancer after disease progression on prior CDK4/6 inhibitors and endocrine therapy.  

Figure 2. Global Dual Specificity Protein Kinase Ttk Inhibitor Market Share (%), By Region, 2023

To learn more about this report, Request sample copy

Global Dual Specificity Protein Kinase Ttk Inhibitor Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global dual specificity protein kinase Ttk inhibitor market over the forecast period. North America is estimated to hold 33.5% of the market share in 2023. The global dual specificity protein kinase Ttk inhibitor market is expected to witness significant growth in the near future, driven by the growing number of protein kinase Ttk inhibitors approvals by U.S. FDA. For instance, in December 2021, NTRC, a Dutch-based precision medicine company specializing in the discovery and development of innovative kinase inhibitors to treat cancer patients, announced that the U.S. Food and Drug Administration (FDA) had approved an Investigational New Drug (IND) application for the novel kinase inhibitor BAL0891, a mitotic checkpoint inhibitor (MCI) that drives aberrant tumor cell division, leading to tumor cell death. BAL0891 was developed by NTRC and licensed to Basilea Pharmaceutica International Ltd., a commercial stage biopharmaceutical company which is headquartered in Switzerland.

Global Dual Specificity Protein Kinase Ttk Inhibitor Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, faced problems with the transportation of things from one place to another.

However, the COVID-19 pandemic had a negative impact on the global dual specificity protein kinase Ttk inhibitor market, challenges faced by players operating in the market. Major challenges include limited supply of raw materials required for manufacturing drug formulations due to irregularities in transportation. Additionally, distributors are experiencing irregular demand for products from retailers due to increasing cases of COVID-19 and other life-threatening disorders.

Global Dual Specificity Protein Kinase Ttk Inhibitor Market Segmentation:

The global dual specificity protein kinase Ttk inhibitor market  is segmented into product type, application, end user, and region.

• By product type, the market is segmented into S 81694, BAY 1217389, BOS-172722, CFI-402257, and others. Out of which, the CFI-402257 dual specificity protein kinase Ttk inhibitor is expected to hold a dominant position in the global dual specificity protein kinase Ttk inhibitor market during the forecast period, and this is attributed to growing approvals of the associated products manufactured by the U.S. FDA.
• By application, the market is segmented into non-haematologic malignancies, breast cancer, prostate cancer, pancreatic ductal adenocarcinoma, and others. Out of which, breast cancer is expected to dominate the market over the forecast period, and this is attributed to the increasing number of incidences as well as the prevalence of breast cancer worldwide.
• By end user, the market is segmented into hospitals, specialty clinics, and others. Out of which, hospitals are expected to dominate the market over the forecast period, and this is attributed to the growing number of diagnosis associated with cancer patients majorly in hospitals.

Among all the segmentation, the product type segment is expected to dominate the market over the forecast period and this is attributed to the increasing number of clinical approvals associated with the CFI-402257 dual specificity protein kinase Ttk inhibitor.

Global Dual Specificity Protein Kinase Ttk Inhibitor Market- Cross Sectional Analysis:

Key players are making dual specificity protein kinase Ttk inhibitor for the treatment of various cancers, such as breast cancer, which is also expected to boost demand for the dual specificity protein kinase Ttk inhibitor market in the North America region. For instance, in 2022, according to the American Cancer Society, approximately 287,850 new cases of invasive breast cancer were diagnosed among U.S. women, and around 43,250 women died from breast cancer.

Global Dual Specificity Protein Kinase Ttk Inhibitor Market: Key Developments

• In November 2022, Treadwell Therapeutics, a clinical-stage biotechnology company developing novel medicines for cancer, announced a presentation for CFI-402411, an oral inhibitor of Hematopoietic Progenitor Kinase 1 (HPK1), a negative regulator of immune cell activation, at the 37^th Society for Immunotherapy of Cancer (SITC) Annual Meeting being held virtually and in person from November 8-12, 2022, at the Boston Convention and Exhibition Center in Boston.
• In February 2022, Brickell Biotech, Inc., a clinical-stage pharmaceutical company striving to transform patient lives by developing innovative and differentiated prescription therapeutics for the treatment of autoimmune, inflammatory, and other debilitating diseases, acquired exclusive global rights to develop and commercialize a portfolio of novel, potent, and orally available stimulator of interferon genes (STING) inhibitors from Carna Biosciences, Inc., which have the potential to treat autoinflammatory disorders such as systemic lupus erythematosus and rheumatoid arthritis, rare genetic interferonopathies, and potentially other diseases.
• In January 2020, TIO Bioventures, an emerging life science venture creation fund with a mission to build companies with innovative anti-cancer therapies, announced the launch of Treadwell Therapeutics.

Global Dual Specificity Protein Kinase Ttk Inhibitor Market: Restraint

Limited access to advanced medical treatments in low-income countries: According to the WHO report of 2020, at least half of the world’s population cannot obtain essential healthcare services. Each year, a large number of households are being pushed into poverty because they must pay for healthcare out of their own pockets. Currently, 800 million people spend at least 10 percent of their household budgets on health expenses for themselves, a sick child, or another family member. For almost 100 million people, these expenses are high enough to push them into extreme poverty, forcing them to survive on just $1.90 or less a day. There are wide gaps in the availability of services in sub-Saharan Africa and southern Asia. In other regions, basic health care services such as family planning and infant immunization are becoming more available, but a lack of financial protection means increasing financial distress for families as they pay for these services out of their own pockets.

Counterbalance: Key players are focusing on developing advanced products with safety and cost-effectiveness, which is expected to drive market growth over the forecast period.      

Global Dual Specificity Protein Kinase Ttk Inhibitor Market - Key Players

Major players operating in the global dual specificity protein kinase Ttk inhibitor market include Bayer AG, Boston Pharmaceuticals, Nerviano Medical Sciences Srl, Les Laboratoires Servier SAS, Pfizer Inc., and other prominent players.

Definition: Protein phosphorylation is one of the most studied and important mechanisms used by cells to regulate their proteins in terms of functions, enzymatic activity, localization, interactions with other proteins or ligands, and others. It is also an essential mechanism of signal transduction between and within cells. Protein phosphorylation on tyrosine, serine, and threonine residues is carried out by a family of enzymes called protein kinases