The global market for Epidermal Growth Factor Receptor (EGFR) inhibitors is projected to witness remarkable growth, surging by USD 6.75 billion from 2024 to 2028. The market’s momentum is expected to maintain a robust Compound Annual Growth Rate (CAGR) of 9.19% throughout the forecast period, as reported by Technavio Research. The market analysis encompasses distribution channels, indications, and geography, with North America predicted to contribute to 40% of the market’s growth during this period. Several factors, including the sales of approved therapeutics and the increasing prevalence of major cancer indications, are fueling this growth in North America.
The market segments include distribution channels such as retail pharmacies, hospital pharmacies, and online pharmacies, and indications like lung cancer, colorectal cancer, breast cancer, and others. The latest report by Technavio provides an up-to-date analysis of the current market scenario, trends, drivers, and the overall market environment.
Key Players in the Market
The key players in the Epidermal Growth Factor Receptor (EGFR) inhibitors market include:
1. Amgen Inc.
2. ASSERTIO HOLDINGS INC.
3. AstraZeneca Plc
4. Boehringer Ingelheim International GmbH
5. Bristol Myers Squibb Co.
6. Checkpoint Therapeutics Inc.
7. Eli Lilly and Co.
8. F. Hoffmann La Roche Ltd.
9. Hansoh Pharmaceutical Group Co. Ltd.
10. hutchison medipharma ltd.
11. Jiangsu Hengrui Pharmaceuticals Co. Ltd.
12. Johnson and Johnson
13. Novartis AG
14. Otsuka Holdings Co. Ltd.
15. Pfizer Inc.
16. Puma Biotechnology Inc.
17. Takeda Pharmaceutical Co. Ltd.
18. Apollomics Inc.
19. CULLINAN ONCOLOGY INC.
20. Lutris Pharma
Market Segmentation Analysis
The retail pharmacies segment is expected to experience significant growth during the forecast period. Retail pharmacies play a crucial role as a distribution channel for EGFR inhibitors, ensuring global accessibility to these drugs. Patients can conveniently obtain their prescribed medications from local retail pharmacies, contributing to the growth of this segment and, consequently, the market.
Market Drivers and Trends
The surge in the prevalence of major cancer indications is a key driver for market growth. Over the years, various types of cancer have become more prevalent, leading to the approval of novel cancer therapies. A significant number of EGFR inhibitors have been approved for major cancer indications, including lung cancer, breast cancer, and colorectal cancer, driving market growth.
Another important trend is the increasing number of drug pipelines in the market. The high efficacy of EGFR inhibitors in treating various oncology indications has attracted pharmaceutical companies to invest in research and the development of novel EGFR inhibitors. This trend is positively impacting the market and contributing to its growth.
Additionally, strategic alliances among market players are a prominent trend in the tyrosine kinase inhibitors market. These trends, drivers, and challenges are thoroughly analyzed in the report.