Published Year: 2022
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Industry and Technology Overview
Global FLT3 Inhibitors Market: Industry Overview
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.
Figure: Global FLT3 Inhibitors Market, $Million, 2021-2032
Source: BIS Research Analysis
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.
Demand – Drivers and Limitations
Following are the demand drivers for the global FLT3 inhibitors market:
• Introduction of Novel Products
• Increasing Incidence of Acute Myeloid Leukemia
• Rising Research and Development Investments
The market is expected to face some limitations too due to the following challenges:
• High Treatment Cost Impacting the Adoption Rate
• Disease Relapse in FLT3 Mutated AML
Analyst's Thoughts
According to Vaishali Chauhan, Research Analyst, BIS Research, "The global FLT3 inhibitors market is a small segment of the entire tyrosine kinase inhibitors market and is growing. Moreover, along with it, the rising interest of the pharmaceutical industry in developing and marketing novel drugs for treating blood cancers with FLT3 positive mutations is making headway in the growth of the global FLT3 inhibitors market. Until recently, patients suffering from FLT3 mutated AML were mainly treated with chemotherapy, which was not very efficient at improving survival rates. A new group of drugs known as FLT3 inhibitors is enhancing the outlook for people with the FLT3 positive mutation."
FLT3 Inhibitors Market - A Global and Country Analysis
Focus on Commercialized Therapy, Potential Pipeline Product, and Region - Analysis and Forecast, 2022-2032
Some Faq's
Frequently Asked Questions
The FLT3 gene gives instructions for making a protein known as fms-like tyrosine kinase 3 (FLT3). FLT3 is recognized as a part of a family of proteins called receptor tyrosine kinases (RTKs) which transmit signals from the cell surface into the cell through a process known as signal transduction. This signaling mechanism tends to control many crucial cellular processes, including cell proliferation and survival, specifically of early blood cells called hematopoietic progenitor cells. Any changes in the FLT3 gene result in the form of blood cancer, predominantly FLT3 mutated acute myeloid leukemia (AML).
The global FLT3 inhibitors market has seen major development by key players operating in the market, such as partnerships and alliances, product approvals and launches, regulatory and legal activities, and other developments. According to BIS Research analysis, among the different key developments, regulatory and legal activities constitute the dominant contributor's strategies with a 65.22% share of the total strategies witnessed by the market between January 2019 and June 2022.
A new entrant can focus on the development of second-generation FLT3 inhibitors being offered by a few established market players of FLT3 inhibitors. This might create an excellent opportunity for a new company to enter the FLT3 inhibitors market.
The following can be seen as some of the USPs of the report:
• Extensive competitive benchmarking of the top 12 players to offer a holistic view of the global FLT3 inhibitors market landscape
• Market ranking analysis based on product portfolio, recent developments, and regional analysis
Pharmaceutical or biopharmaceutical companies involved in developing novel therapeutic drugs to treat blood cancers with FLT3 positive mutations.
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