April 17, 2024

Dasatinib Drugs Market Insights: An Overview of Current Trends

Dasatinib Drugs Market

The dasatinib drugs market comprises oral medication used for the treatment of chronic myeloid leukemia (CML) and certain types of acute lymphoblastic leukemia (ALL). Dasatinib works by blocking proteins called tyrosine kinases, which helps stop the spread of leukemia cells in the body. It is mostly prescribed for patients diagnosed with chronic phase CML (CP-CML) or those who are resistant or intolerant to other treatments. Dasatinib belongs to a class of drugs known as BCR-ABL tyrosine kinase inhibitors. The global dasatinib drugs market is estimated to be valued at US$ 1350.6 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030.

Key Takeaways
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.

The growing incidence of chronic illnesses such as CML is fueling the demand for dasatinib drugs globally. According to estimates, around 10,000 new CML cases are reported annually in the United States. Dasatinib is emerging as an effective treatment option for CML patients resistant to other therapies.

Major pharmaceutical companies are expanding their oncology portfolios and commercializing dasatinib drugs in new geographic regions. Strategic collaborations and licensing agreements have enabled wider availability of affordable dasatinib medicines in developing Asian and African countries.

Market Key Trends
The increasing prevalence of chronic myeloid leukemia due to aging population and changes in lifestyle habits is a key trend driving the dasatinib drugs market. According to statistics, around 60% of CML patients are above 60 years of age. Moreover, adoption of sedentary lifestyle and obesity has contributed to heightened disease susceptibility. Dasatinib drugs with their favorable safety and efficacy profile are well positioned to benefit from this trend.

Porter’s Analysis
Threat of new entrants: New players find it difficult to establish in this market due to high capital requirements for R&D and manufacturing.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternative treatment options.

Bargaining power of suppliers: A few multinational companies dominate the supply market. Suppliers have moderate bargaining power.

Threat of new substitutes: New substitutes pose low threat due to stringent regulatory norms for new drug approvals.

Competitive rivalry: Intense competition exists among existing players to gain higher market share.

Geographical Regions
North America accounts for the largest share of the dasatinib drugs market in terms of value owing to high healthcare spending and established healthcare infrastructure in the US.

Asia Pacific is poised to grow at the fastest CAGR during the forecast period. Rising healthcare expenditure, increasing incidence of cancers, and growing generic market in China and India are driving the market in the Asia Pacific region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it