Dasatinib Drugs Market Growth Accelerated by Increased Adoption in Developing Nations
Dasatinib drugs are used in the treatment of various cancers like Chronic Myeloid Leukemia (CML), Philadelphia chromosome-positive acute lymphoblastic leukemia (Ph+ ALL). These drugs selectively inhibit the BCR-ABL tyrosine kinase, which is responsible for the creation of the abnormal BCR-ABL fusion gene product that causes CML and Ph+ ALL. Dasatinib proves to be more effective compared to the first-generation tyrosine kinase inhibitors and has fewer side effects. The global Dasatinib Drugs Market is estimated to be valued at US$ 1350.06 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the Dasatinib Drugs Market growth is the increased adoption in developing nations. While North America and Europe currently dominate the market, developing regions in Asia Pacific and Latin America are expected to showcase high growth in the coming years. This is mainly attributed to the rising prevalence of cancers like CML and increasing healthcare expenditures in developing countries. In addition, growing awareness regarding effective targeted cancer therapies and availability of low-cost generics are supporting the market growth in developing markets. Government initiatives to promote affordable healthcare further encourage the adoption of cost-effective Dasatinib drugs in emerging nations. This shift towards developing markets will likely accelerate the overall expansion of the Dasatinib Drugs Market during the forecast period.
Segment Analysis
The global dasatinib drugs market is divided into two key segments based on product type and application. Based on type, the market is segmented into 20mg, 50mg, 70mg and 100mg segment. The 20mg segment accounted for the largest share in 2023 owing to its wide prescriptions across various diseases. Based on application, the chronic myeloid leukemia (CML) segment dominated the global dasatinib drugs market in 2023 as dasatinib drugs are majorly used in the treatment of CML.
Key Takeaways
The global dasatinib drugs market is expected to witness high growth in the forecast period.
Regional analysis: North American region dominated the global dasatinib drugs market in 2023 owing to increased adoption of dasatinib drugs in the treatment of various cancers. The Asia Pacific region is expected to witness the fastest growth during the forecast period due to the rising cancer prevalence and developing healthcare infrastructure in countries like China and India.
Key players related content comprises 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.
