LONDON--(BUSINESS WIRE)--The global MEK inhibitors market is expected to post a CAGR of more than 8% during the period 2019-2023, according to the latest market research report by Technavio.
Although there are many approved therapies in the field of oncology, the treatment landscape of advanced metastatic carcinomas, such as melanoma and NSCLC, still have a huge unmet need owing to various mutations. MEK inhibitors are expected to be used for the treatment of these carcinomas. MEK inhibitors demonstrate promising results in oncology, which is further encouraging R&D teams to research other invasive cancer indications, such as colorectal cancer. The mechanism of action of this drug class is target-specific, which makes it a potential candidate for treating various cancer indications. This will boost market growth over the forecast period.
As per Technavio, the use of protein biomarkers in the diagnosis of NSCLC will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global MEK inhibitors market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global MEK Inhibitors Market: Use of Protein Biomarkers in the Diagnosis of NSCLC
The diagnosis of NSCLC has been facing a challenge because of the low accuracy in identifying the histological variant of the disease-causing tumor. Protein biomarkers help in detecting such tumors as they can differentiate between the morphological and the chemical features of the protein in normal cells and abnormal cells. MEK inhibitors are one of the important types of drugs for the treatment of NSCLC associated with the BRAF mutation. Thus, the use of protein biomarkers is increasing, which is expected to fuel the growth of the MEK inhibitors market during the forecast period.
“Apart from the use of protein biomarkers of NSCLC, other factors such as expanded applications, and the special drug designations will have a significant impact on the growth of the MEK inhibitors market value during the forecast period,” says a senior analyst at Technavio.
Global MEK Inhibitors Market: Segmentation Analysis
This market research report segments the global MEK inhibitors market by product (MEKINIST, COTELLIC, and MEKTOVI), and geographic regions (North America, Europe, Asia, and ROW).
The North America region led the MEK inhibitors market in 2018, followed by Europe, Asia, and ROW, respectively. The growth of the MEK inhibitors market share in North America can be attributed to factors such as the increasing prevalence of several cancer indications, including melanomas and NSCLC, and growing sales of approved MEK inhibitors.
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Market Landscape
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Market Sizing
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Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
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