The dasatinib drugs market has seen considerable growth in recent years owing to the increasing prevalence of various types of cancers. Dasatinib is an oral prescription medication that is used to treat certain types of leukemia and stomach cancer. It works by blocking certain proteins in cancer cell growth pathways, which helps slow or stop the growth of cancer cells. Some key advantages of dasatinib drugs include high selectivity for cancer cells, convenient oral dosage form, and improved survival rates in late-stage cancer patients. With rising cancer burden worldwide, the need for effective targeted therapy options like dasatinib is increasing significantly.
The Global Dasatinib Drugs Market is estimated to be valued at US$ 1350.6 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030.
Key Takeaways
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. Bristol-Myers Squibb Company dominates the market with its branded drug Sprycel being one of the leading treatment options for chronic myelogenous leukemia.
The global prevalence of cancer has increased tremendously over the past few decades. As per WHO, cancer burden is expected to rise by over 50% in the next 20 years. This growing cancer population base is driving significantly higher demand for targeted cancer drugs like dasatinib.
Advancements in cancer research and targeted drug development have improved clinical outcomes for various late-stage cancers in recent years. Development of newer biomarker-based formulations and combination therapies involving dasatinib will further expand its clinical use in the future.
Market Trends
Increased R&D focus on biomarker development: Pharmaceutical companies are investing heavily in dasatinib biomarker research to identify new indications and more precisely match patients with therapies. This precision oncology approach will expand the eligible patient pool.
Biosimilar entrants post-patent expiry: Patent expiry of branded dasatinib drugs in late 2020s will allow development of more affordable biosimilar versions, increasing accessibility in price-sensitive regions.
Market Opportunities
Emerging markets in Asia Pacific: Asia Pacific countries like China and India offer immense growth potential owing to rising income levels, healthcare investments, and growing cancer burden in the region.
Combination therapies: Clinical trials evaluating dasatinib in combination with other cancer drugs hold promise to further improve survival outcomes, thus representing a lucrative opportunity.
Impact of COVID-19 on Dasatinib Drugs Market Growth
The COVID-19 pandemic has significantly impacted the growth of the dasatinib drugs market. During the initial outbreak, access to healthcare facilities was restricted and focus shifted towards treating COVID patients. This led to postponement of non-critical treatments and surgeries for cancer patients. As a result, demand for dasatinib drugs witnessed a sharp decline in 2020.
However, with increasing availability of vaccines and relaxation of lockdown measures, the market is recovering steadily post-2021. Production and supply chain disruptions caused by lockdowns were addressed and healthcare services are being restored to pre-pandemic levels. Pharmaceutical companies focused on ensuring continuous supply of essential drugs through innovative distribution channels. Telehealth and digital health solutions also aided in maintaining treatment continuity for chronic conditions like cancer.
