The BRAF Kinase Inhibitors Market is driven by rising prevelance of cancer
The BRAF Kinase Inhibitors Market involves drugs that act as targeted therapy against cancers caused due to mutations in BRAF genes. BRAF kinase inhibitors work by blocking the BRAF proteins from working properly and inhibit tumor cell growth. Some key BRAF inhibitors include vemurafenib, dabrafenib and encorafenib. BRAF inhibitors are majorly used for treating melanoma skin cancer that has spread to other parts of the body or cannot be removed by surgery.
The Global BRAF Kinase Inhibitors Market is estimated to be valued at US$ 1364.56 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the BRAF Kinase Inhibitors are Hoffmann-La Roche Ltd, Siemens Healthineers AG, Abbott Laboratories, Thermo Fisher Scientific Inc., Danaher Corporation, Sysmex Corporation, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Quidel Corporation, Hologic, Inc., Ortho Clinical Diagnostics, Beckman Coulter, Inc. (a subsidiary of Danaher Corporation), BioMérieux SA, Trinity Biotech plc, EKF Diagnostics Holdings plc. These players are focusing on development of innovative and cost-effective BRAF inhibitors through research and clinical trials.
The demand for BRAF Kinase Inhibitors Market Demand is growing owing to rising prevalence of cancers like melanoma. According to statistics, nearly 200,000 new cases of melanoma are diagnosed worldwide every year. Wide availability of generics and combination therapies are also fueling the demand.
The BRAF kinase inhibitors market is expanding globally with presence of majority of players in developed markets of North America and Europe. However, Asian markets are also proving lucrative owing to growing healthcare spending and increasing incidences of cancer. Key players are focusing on expanding distribution networks in emerging nations.
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