PUBLISHER: The Business Research Company | PRODUCT CODE: 1426456
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426456
Osimertinib is a medication prescribed for the treatment of non-small cell lung cancer (NSCLC) in patients with specific abnormal epidermal growth factor (EGFR) genes. As a kinase inhibitor, it functions by blocking the action of the abnormal protein that signals cancer cells to multiply.
The main types of osimertinib drugs are available in 40mg and 80mg dosages. The 40mg designation represents the strength of the Osimertinib tablet. These medications are distributed through various channels, including hospital pharmacies, drugstores, retail pharmacies, and online pharmacies, catering to conditions such as locally advanced non-small cell lung cancer (NSCLC), metastatic non-small cell lung cancer (NSCLC), and others.
The osimertinib drugs market research report is one of a series of new reports from The Business Research Company that provides osimertinib drugs market statistics, including osimertinib drugs industry global market size, regional shares, competitors with an osimertinib drugs market share, detailed osimertinib drugs market segments, market trends and opportunities, and any further data you may need to thrive in the osimertinib drugs industry. This osimertinib drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The osimertinib drugs market size has grown rapidly in recent years. It will grow from $5.66 billion in 2023 to $6.66 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%. The growth observed during the historical period can be attributed to research and development (R&D) investment and innovation, the introduction of targeted therapy, the success of clinical trials, resistance to previous treatments, and improvements in safety profiles.
The osimertinib drugs market size is expected to see rapid growth in the next few years. It will grow to $12.09 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The anticipated growth in the forecast period can be attributed to enhancements in patient-centric care, ongoing clinical trials and research, the integration of precision medicine, initiatives related to pricing and access, and the expansion of the global market. Major trends expected during the forecast period include the entry of biosimilars and increased market competition, the adoption of liquid biopsy, advancements in genomic profiling, strategies for managing resistance, and the exploration of immunotherapy combination trials.
The anticipated rise in the incidence of lung cancer is set to drive the growth of the osimertinib drug market. Lung cancer, originating in the lung tissues, particularly in cells lining the airways, is a target for osimertinib, a therapeutic drug that blocks specific proteins involved in the growth and spread of cancer cells. According to the American Cancer Society, the United States witnessed around 236,740 diagnosed lung cancer cases in 2022, a number that has increased to 238,340 by 2023. Consequently, the escalating incidence of lung cancer stands as a significant factor propelling the osimertinib drug market's growth.
Initiatives from organizations aimed at improving lung cancer care and treatment are expected to further boost the osimertinib drug market. These organizational initiatives involve policies, funding, and programs geared towards enhancing the accessibility, affordability, and quality of care for individuals diagnosed with cancer. Notably, the Lung Ambition Alliance launched Initiatives in Lung Cancer Care (ILC2) in September 2021, a global program dedicated to improving lung cancer care worldwide. The program, recognizing variations in lung cancer management globally, provides funding for projects focused on achieving measurable enhancements in lung cancer care. Consequently, the increasing initiatives from organizations to elevate lung cancer care and treatment act as a driving force for the osimertinib drug market.
The high costs associated with osimertinib are expected to impede market growth. Factors contributing to the high cost include research and development expenses, the complexity of the manufacturing process, and the limited patient population. According to the National Institutes of Health (NIH), the average monthly cost of osimertinib in the United States ranges from $9,117.36 to $17,028.90. Additionally, its initial commercialization cost in China was $251.78 per day, significantly higher than other epidermal growth factor receptor tyrosine kinase inhibitors (EGFR TKIs) such as gefitinib at $34.92 per day. Consequently, the substantial costs associated with osimertinib pose a constraint on the drug market's growth.
Major companies operating in the osimertinib market are strategically focusing on developing innovative drugs to secure their position in the market. The increasing need for more effective and safer treatments has led to drug approvals such as Tagrisso. Tagrisso (osimertinib), a targeted therapy medication for non-small-cell lung cancer, received approval from AstraZeneca in May 2021. The drug inhibits the activation of the EGFR protein, slowing the growth and spread of cancer cells.
In October 2022, Ikena Oncology collaborated with AstraZeneca to explore the potential combination of IK-930 and osimertinib for enhanced efficacy and safety in treating EGFR-mutated non-small-cell lung cancer (NSCLC). This collaboration is a strategic move to leverage the expertise of both companies in advancing treatment options.
Major companies operating in the osimertinib drugs market report are Syndax Pharmaceuticals Ltd., Pfizer Inc., F. Hoffmann-La Roche AG, AstraZeneca plc, Amgen Inc., Sandoz International GmbH, Incyte Corporation, Dr. Reddys Laboratories Ltd., Cipla Limited, Seagen Inc., Zydus Lifesciences Limited, Sun Pharmaceutical Industries Ltd., Alembic Pharmaceuticals Limited, Aristo Pharmaceuticals Private Limited, Incepta Pharmaceuticals Ltd., Accord Healthcare Limited, Asmo Corporation, Beacon Pharmaceutical Limited, Clearsynth Labs Limited, Apino Pharma Co. Ltd., Kay Biotech Private Limited, Drug International Limited, MSN Laboratories Pvt Ltd., Array BioPharma Inc., Dolphin Pharmaceutical Limited, Hetero Drugs Ltd., Serum Biotech Limited, Zenix Remedies, Accure Labs Pvt. Ltd.
North America was the largest region in the osimertinib drugs market in 2023. The regions covered in the osimertinib drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the osimertinib drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The osimertinib drugs market consists of sales of tagrisso, osi-TKI, and osimertinib mesylate. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Osimertinib Drugs Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on osimertinib drugs market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for osimertinib drugs? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The osimertinib drugs market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.