MEK Inhibitors Market to Create Opportunities in the Field of Oncology
- Development of MEK inhibitors can serve as a new therapy to treat various malignancies. MEK inhibitors is a small molecule that inhibits mitogen-activated extracellular signal-regulated kinase. MEK inhibitors decrease the growth of tumor in people with metastatic melanoma by hindering the activity of MEK and BRAF kinases.
- MEK inhibitors is a selective inhibitor of the MAPK pathways. It targets a non-ATP site of the Mitogen-activated protein kinases (MAP kinases). MAP kinases is a Serine/Threonine phosphorylating enzymes. MAP kinases is also known as Extracellular signal-regulated kinases (ERKs). Aberrant signaling through the MAPK pathway can cause cancer.
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Key Drivers and Restraints of Global MEK Inhibitors Market
- Continuous clinical trials and studies on MEK inhibitors as a new treatment option in the field of oncology is expected to propel the MEK inhibitors market during the forecast period. Due to promising results of MEK inhibitors in skin cancer, researchers are actively involved in R&D on MEK inhibitors to expand its application to other invasive cancer indications, such as colorectal cancer. MEK inhibitors is under phase 3 study for the treatment of patients suffering from the metastatic colorectal cancer.
- Rise in awareness about new treatment options and increase in incidences of melanoma across the globe are contributing to the growth of the global MEK inhibitors market. According to the American Institute for Cancer Research, in 2018, 300,000 new cases of skin cancer were reported.
- High target affinity and specificity is another factor, which is expected to propel the MEK inhibitors market during the forecast period. Furthermore, product approval is a major driver for the global MEK inhibitors market.
- In January 2019, ONO PHARMACEUTICAL CO., LTD. received manufacturing and marketing approval for MEKTOVI MEK inhibitors in Japan for the treatment of metastatic melanoma with BRAFV600 mutations
- Stringent regulations on new therapeutics development and adverse effects of MEK inhibitors, such as rash, diarrhea, peripheral edema, fatigue, and dermatitis acneiform are likely to restrict the global MEK inhibitors market in the next few years
MEKINIST to Witness High Demand
- On the basis of product, the global MEK inhibitors market can be divided into MEKINIST, COTELLIC, and MEKTOVI. The global MEL inhibitors market is driven by demand of MEKINIST. Combination therapy offers potent anti-tumor effects. Combination therapy helps to inhibit the BRAF kinase activity and the MEK1/MEK2 activity simultaneously.
- Combination therapy has been approved for the treatment of adults suffering from metastatic melanoma with a BRAFv600 mutation
Retail Pharmacies Segment has Significant Growth Potential
- In terms of distribution channel, the global MEK inhibitors market can be divided into hospital pharmacies, retail pharmacies, and online pharmacies
- Growth of the retail pharmacies segment can be attributed to the increase in the number of retail pharmacies across the globe and easy availability of small molecule MEK inhibitors at these stores
- Moreover, availability of MEK inhibitors at specialty pharmacy stores in the U.S. and anticipated launch of new MEK inhibitors during the forecast period are likely to propel the growth of the retail pharmacies segment during the forecast period
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North America to Lead Global MEK Inhibitors Market
- In terms of region, the global MEK inhibitors market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is leading the MEK inhibitors market due to factors such as increase in prevalence of NSCLC and melanomas and rise in sales of approved MEK inhibitors
- In May 2017, ONO PHARMACEUTICAL CO., LTD. and Array BioPharma Inc. signed a license agreement to develop and commercialize MEKTOVI in the U.S. and Canada
- Asia Pacific is likely to witness maximum demand for MEK inhibitors from 2019 to 2027. Major manufacturers of MEK inhibitors have been investing increasingly in China and India due to a large patient base.
- MEKTOVI application is submitted in The Swiss Medicines Agency (Swissmedic) and The Australian Therapeutics Goods Administration (TGA) for marketing authorization of MEKTOVI
- Survey of Ministry of Health, Labor and Welfare of Japan reported that around 4,000 patients are suffering from melanoma while about 700 deaths occur per year in Japan due to melanoma.
- Leading manufacturers of MEK inhibitors have extensive distribution networks, along with deep product penetration. The manufacturers of MEK inhibitors are actively participating in trade fairs and international conferences to promote their products and develop potential R&D collaborations and distribution partnerships.
Key Manufacturers Operating in Global Market
The global MEK inhibitors market was highly consolidated in 2018. Key manufacturers operating in the global market are:
- ONO PHARMACEUTICAL CO., LTD.
- F. Hoffmann-La Roche Ltd
- Novartis AG
- Pfizer Inc.
Global MEK Inhibitors Market: Research Scope
Global MEK Inhibitors Market, by Product
- MEKINIST (Trametinib)
- COTELLIC (Cobimetinib)
- MEKTOVI (Binimetinib)
Global MEK Inhibitors Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global MEK Inhibitors Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.