The global FLT3 inhibitors market is expected to reach $2,061.3 million in 2032 from $400.9 million in 2021 at a CAGR of 14.88% during the forecast period 2022-2032. The global FLT3 inhibitors market growth is expected to be driven by the introduction of novel products, the increasing incidence of acute myeloid leukemia, and the rising research and development investments, among others.
Market Lifecycle Stage
The global FLT3 inhibitors market is in the nascent stage. The landscape of treatment of blood cancers with FLT3 positive mutations by novel inhibitory therapeutics is massively growing, with many emerging and legacy companies venturing into the industry with their respective therapeutic portfolio exclusively developed and designed for the treatment of FLT3 mutated acute myeloid leukemia (AML). Through imaging, genetic, and biomarker studies, researchers are gaining a deeper understanding of the biology of AML, which will likely resolve many current problems in FLT3 mutated AML diagnosis and classification.
The current study aims to assess the global FLT3 inhibitors market by focusing on the marketed and potential pipeline therapies. The current market for FLT3 inhibitors is majorly dominated by pharmaceutical companies such as Novartis International AG, Astellas Pharma Inc., and Daiichi Sankyo Company, Limited. Increasing investments in the research and development of drug manufacturing are one of the major opportunities in the global FLT3 inhibitors market.
Impact
The growing interest of the pharmaceutical industry in the therapeutic potential for treating blood cancers with FLT3 positive mutations has been a catalyst for the progress of the global FLT3 inhibitors market. Recently approved products such as Xospata and Rydapt for treating FLT3 mutated acute myeloid leukemia (AML) The recent increase in the number of drug approvals received for treating acute myeloid leukemia with FLT3 positive mutations is considered to have added value to the emerging potential drug development. There are three FLT3 inhibitors approved by the U.S. Food and Drug Administration during 2015-2021. Also, many FLT3 inhibitors are in preclinical or clinical trials, indicating progress toward making an impact in the pharmaceutical industry.
Drug development is more prominent in countries such as the U.S., Germany, the U.K., and Japan. Moreover, the presence of major market players such as Astellas Pharma Inc., Daiichi Sankyo Company, Limited., Novartis AG, Allarity Therapeutics, Inc., and AROG Pharmaceuticals, Inc. has a positive impact on the market growth.
Market Segmentation
Segmentation 1: by Commercialized Therapies
• Type 1 FLT3 Inhibitors
• Type 2 FLT3 Inhibitors
The Type 1 FLT3 inhibitors segment represented the largest market share at 96.63% of total commercialized therapies in 2021. However, the Type 2 FLT3 inhibitors segment is anticipated to register a high growing CAGR of 14.63% during the forecast period 2022-2032.
Segmentation 2: by Potential Pipeline Products
• Crenolanib
• Dovitinib
• SKLB1028
The Dovitinib is expected to hold 59.56% of total potential pipeline products in 2032, while Crenolanib and SKLB1028 segment is expected to hold 33.71% and 6.73% in 2032, respectively.
Segmentation 3: by Region
• North America - U.S., Canada
• Europe - Germany, Italy, France, U.K., Spain, Rest-of-Europe
• Asia-Pacific - China, Japan, Rest-of-APAC (RoAPAC)
• Rest-of-the-World (RoW)
The North America FLT3 inhibitors market was valued at $252.7 million in 2021, and the region is currently the leading contributor to the market. The growth can be attributed to the increased research and development activities in the region.
Recent Developments in the Global FLT3 Inhibitors Market
• In March 2021, Astellas Pharma's Xospata (Gilteritinib) met the overall survival endpoint in the COMMODORE trial of subjects having FLT3 mutated relapsed or refractory acute myeloid leukemia.
• In December 2021, Allarity Therapeutics submitted a New Drug Application (NDA) to the U.S. FDA for Dovitinib as a third-line treatment for renal cell carcinoma (RCC).
• In June 2021, Cullinan Oncology received Investigational New Drug (IND) Clearance from the FDA for CLN-049 to treat relapsed/refractory AML.
• In June 2019, Daiichi Sankyo Company, Limited received a Complete Response Letter (CRL) from the U.S. FDA for the New Drug Application (NDA) of Vanflyta (Quizartinib) to treat adult patients with relapsed/ refractory FLT3-ITD acute myeloid leukemia.
Get Free Sample Report - https://bisresearch.com/requestsample?id=1351&type=download
How Can This Report Add Value to an Organization?
Product/Innovation Strategy: The product segment helps the reader understand the commercialized therapies present in the market, along with potential pipeline products that are in different stages of clinical trials. Moreover, the study provides the reader with a detailed understanding of regional analysis based on the presence of FLT3 inhibitors.
Growth/Marketing Strategy: The global FLT3 inhibitors market has seen major development by key players operating in the market, such as regulatory and legal activities, product approvals and launches, partnerships and alliances, and other development activities. The favored strategy for the companies has been regulatory and legal activities along with product approvals to strengthen their position in the market.
Competitive Strategy: Key players in the global FLT3 inhibitors market analyzed and profiled in the study involve drug manufacturers for the treatment of cancer with FLT3 positive mutations. Moreover, a detailed competitive benchmarking of players operating in the global FLT3 inhibitors market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Additionally, BIS Research also offers a dedicated and unique platform to find and access deeptech insights and updates on emerging technologies across industry verticals. Insight Monk, an AI powered deeptech search engine, is a subscription based platform that offers a library of latest market insights and updates based on emerging tech. Learn more about InsightMonk here. https://www.insightmonk.com
