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Global Osimertinib Drugs Market is estimated to witness a rise in revenue from US$ 4,828.6 Mn in 2021 to US$ 11,829.8 Mn by 2027. The market is registering a CAGR of 16.1% during the forecast period 2022-2027. In terms of volume, the market is registering a CAGR of 15.4% during the forecast period.
Osimertinib belongs to a class of drugs known as kinase inhibitors. It works by slowing or stopping the growth of cancer cells. It binds to a certain protein (epidermal growth factor receptor-EGFR) in some tumors. It works by blocking the action of the abnormal protein that signals cancer cells to multiply. This helps to stop or slow the spread of cancer cells and may help to shrink tumors. When referring to the generic drug osimertinib, some health care professionals may use tagrisso name.
The major factors responsible for the growth of the osimertinib drugs market include surging demand for effective medication for the management of lung cancer and tagrisso an effective alternative for the treatment of NSCLC with mutation. Osimertinib (Tagrisso) is a medication used to treat non-small-cell lung carcinomas (NSCLC) with specific mutations. Also, almost 25% of all cancer deaths among both men and women, are mainly caused due to lung cancer. Small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC) are the sub- categorization of lung cancer. Moreover, major market players are investing highly in research and development in order to develop an effective medication, thus providing a lucrative growth opportunity for the market. However, the increasing occurrences of falsified medicines or counterfeit drug products that resemble real restricts the market growth over the forecast period. Counterfeit medicines not only cause economic damage to the healthcare and pharmaceutical sector but are also a significant threat to public health and logistics.
The study of the Global Osimertinib Drugs Market considers various market determinants, industry value chain analysis and competitor analysis of the market. The report discusses the analysis of the osimertinib drugs industry for the period 2016-2027, where the base year is 2021 and the forecast period is 2022-2027. The report provides a detailed analysis of the Global Osimertinib Drugs Market across 13 Chapters and 74 pages. The report includes data presentation across 37 tables and 50 statistical figures.
The research report also provides Porter’s five forces analysis wherein bargaining power of buyers is low to moderate and competitive rivalry is low. The subsequent section provides details of the market analysis based on different segments such as type, applications and region. The report includes detailed study of value chain of the industry. It includes raw material supplier, osimertinib drugs manufacturers, distributors and suppliers and end users. The report also covers extensively about the key competitors in the market for osimertinib drugs market.
COVID-19 impact on Global Osimertinib Drugs Market
The impact of COVID-19 was positive for the osimertinib (tagrisso) market, across the globe. The companies registered a significant growth in the sales of oncology medicines in COVID times, as it continues to be one of the leading medicines for the treatment of lung cancer. Coronavirus is a contagious disease caused by severe acute respiratory syndrome coronavirus, which directly affects the respiratory tract and affects lungs health. This increased the demand for the osimertinib (tagrisso) to manage lung cancer and increase the quality of life and expectancy amid COVID-19. However, the company faced various challenges due to the global lockdown, disrupted supply chains and lack of availability of raw materials.
Key Takeaways from the Global Osimertinib Drugs Market Report
The key players in the Global Osimertinib Drugs Market are AstraZeneca, Incepta Pharmaceuticals Limited, Everest Pharmaceuticals, Beacon Pharma and Drug International among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip of emerging market. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.
Global Osimertinib Drugs Market is segmented based on type, application and region. The industry trends in the global osimertinib drugs market are sub-divided into different categories in order to get a holistic view of the global marketplace.
Following are the different segments of the Global Osimertinib Drugs Market:
By Type segment of the Global Osimertinib Drugs Market is sub-segmented into:
By Application segment of the Global Osimertinib Drugs Market is sub-segmented into:
By Region segment of the Global Osimertinib Drugs Market is sub-segmented into:
Osimertinib drugs is used for the treatment of patients with metastatic epidermal growth factor receptor (EGFR) T790M mutation-positive non-small cell lung cancer (NSCLC).
Tagrisso, AZD9291, mereletinib, osimertinib mesilate and osimertinib mesylate are the other names for osimertinib drug.
The global osimertinib drugs market is studied from 2016-2027.
The growth rate of the global osimertinib drugs market is 16.1%, with an estimated value of US$ 11,892.8 Million by 2027.
North America held the major share in terms of revenue in the global osimertinib drugs market in 2021.
Factors such as surging demand for effective medication for the management of lung cancer and tagrisso an effective alternative for the treatment of NSCLC with mutation drives the growth in the global osimertinib drugs market.
Availability of counterfeit products in the market is a restraining factor which inhibits the growth of the market during the forecast period.
Type, application and region are the different segments of the global osimertinib drugs market.
Major market players are investing highly in research and development in order to develop an effective medication, thus providing a lucrative growth opportunity for the market.
The hospitals segment holds the largest market share in 2021 in the global osimertinib drugs market.
China is expected to project the highest CAGR during the forecast period in the Asia Pacific osimertinib drugs market.
The key players operating in the market include AstraZeneca, Incepta Pharmaceuticals Limited, Everest Pharmaceuticals, Beacon Pharma and Drug International among others.
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