Dasatinib drugs are commonly used for treating certain types of cancer like chronic myeloid leukemia. These drugs help control the growth and spread of cancer cells by blocking their ability to multiply. The global Dasatinib Drugs market is gaining significant traction owing to the growing incidence of cancer worldwide. According to the World Health Organization, cancer is one of the leading causes of mortality with around 10 million deaths in 2020. The growing geriatric population prone to developing various types of cancers is further augmenting the demand for dasatinib drugs.
The global Dasatinib Drugs Market is estimated to be valued at US$ 1350.6 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:
Rising prevalence of cancer has been a major driver propelling the growth of the Dasatinib Drugs market. According to the Cancer Research UK, the number of new cancer cases is projected to rise by over 20% by 2030. Cancer mainly occurs due to factors such as changing lifestyle, late detection of cancers, rising pollution levels, and increasing geriatric population. Chronic myeloid leukemia (CML) is one of the widespread types of blood cancer that is treated using dasatinib drugs. As per the American Cancer Society, around 9,110 new cases of CML were reported in the United States in 2022. The increasing incidence rate of CML has augmented the demand for dasatinib drugs in recent years.
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SWOT Analysis
Strength: Dasatinib drugs have strong efficacy against certain types of cancers like chronic myelogenous leukemia (CML). This improves patient outcomes.
Weakness: These drugs have numerous side effects like diarrhea, headache, fever, nausea etc. This limits their tolerability.
Opportunity: Expanding applications for dasatinib drugs to other cancer types offers scope for market growth.
Threats: Patent expiries of branded dasatinib drugs will increase competition from cheaper generic versions. This threatens market shares and prices.
Key Takeaways
The global dasatinib drugs market is expected to witness high growth. Regional analysis
The North American region currently dominates the dasatinib drugs market owing to large volumes of cancer patients. Asia Pacific is poised to grow at the fastest rate due to increasing cancer incidence, availability of low-cost generics and improvements in healthcare access.
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. Market leaders like Bristol-Myers Squibb hold a major share due to their extensive portfolios of branded drugs while generic drug makers are growing rapidly through lower-cost offerings.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it