LONDON--(BUSINESS WIRE)--The global epidermal growth factor receptor inhibitors market is expected to post a CAGR of close to 9% during the period 2019-2023, according to the latest market research report by Technavio.
The prevalence of various types of cancer has increased at a rapid pace in recent years, resulting in a huge unmet need for drugs for the treatment of these indications. This has created an opportunity for vendors in the global oncology therapeutics market to conduct studies on drugs such as EGFR inhibitors. Factors such as the increasing special drug designation and the proven efficacy of EGFR inhibitors are leading to quicker approval in the clinical stages. Therefore, the growing prevalence of cancer indications is expected to fuel the EGFR inhibitors market during the forecast period.
As per Technavio, new research areas will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global epidermal growth factor receptor inhibitors market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global epidermal growth factor receptor inhibitors market: New research areas
Various novel EGFR inhibitors have been approved recently due to their proven efficacy for the treatment of different types of cancer. This has also led various research institutes and pharmaceutical vendors to expand their research areas. For instance, vendors are researching the use of EGFR inhibitors for the treatment of inflammatory diseases and monogenic diseases. The rising prevalence of various cancers and other indications along with a huge unmet need have created immense growth opportunities for vendors to research and develop novel EGFR inhibitors.
“Apart from the expansion of research areas, other factors such as the increasing reimbursement programs, strong pipeline, and the increasing awareness campaigns will have a significant impact on the growth of the epidermal growth factor receptor inhibitors market size during the forecast period,” says a senior analyst at Technavio.
Global epidermal growth factor receptor inhibitors market: Segmentation analysis
This market research report segments the global epidermal growth factor receptor inhibitors market by indication (lung cancer, colorectal cancer, breast cancer, and others), and geographic regions (North America, Europe, Asia, and ROW).
The North American region led the epidermal growth factor receptor inhibitors market in 2018, followed by Europe, Asia, and ROW respectively. The growth of the epidermal growth factor receptor inhibitors market in North America can be attributed to factors such as the increasing prevalence of the various type of major cancer indications, heavy sales of approved therapeutics, and the presence of various patient programs from both the vendors and the governments in the region.
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- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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