The Osimertinib Drugs Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Osimertinib Drugs Global Market Report 2024, 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 in the historic period can be attributed to r&d investment and innovation, targeted therapy introduction, clinical trial success, resistance to previous treatments, improved safety profile.
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 growth in the forecast period can be attributed to patient-centric care enhancement, continued clinical trials and research, precision medicine integration, pricing and access initiatives, global market expansion. Major trends in the forecast period include biosimilar entry and market competition, liquid biopsy adoption, genomic profiling advancements, resistance management strategies, immunotherapy combination trials.
The increasing incidence of lung cancer is expected to propel the growth of the osimertinib drug market going forward. Lung cancer refers to a type of cancer that originates in the lung tissues, predominantly in the cells lining the airways. Osimertinib is used as a therapeutic option for lung cancer, and it helps to block the activity of specific proteins that are involved in the growth and spread of cancer cells. For instance, in 2022, according to the American Cancer Society, a US-based government organization, in the US, there were approximately 236,740 lung cancer cases diagnosed in 2022, and that number has increased to 238,340 by 2023. Therefore, the increasing incidence of lung cancer is driving the growth of the osimertinib drug market.
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The osimertinib drugs market covered in this report is segmented –
1) By Type: 40 mg, 80 mg
2) By Distribution Channel: Hospital Pharmacy, Drug Store And Retail Pharmacy, Online Pharmacy
3) By Application: Locally Advanced Non-Small Cell Lung Cancer (NSCLC), Metastatic Non-Small Cell Lung Cancer (NSCLC), Other Applications
Major companies operating in the osimertinib market are focused on developing innovative drugs and getting them approved to sustain their position in the market. Drug approvals osimertinib are increasing due to the need for more effective and safer treatments, such as Tagrisso, which provides a new therapeutic option. Tagrisso (osimertinib) is a targeted therapy medication for non-small-cell lung cancer. For instance, in May 2021, AstraZeneca, a UK-based pharmaceutical company, received approval from the Medicines and Healthcare Products Regulatory Agency (MHRA), a UK-based governmental agency, for Tagrisso (osimertinib), a third-generation (Epidermal Growth Factor Receptor) EGFR tyrosine kinase inhibitor. It functions by preventing the EGFR protein’s activation. EGFR is a protein that helps cancer cells grow and divide. By blocking the activity of EGFR, osimertinib can help slow the growth and spread of cancer cells. The MHRA’s authorization of osimertinib is a significant step forward in treating early-stage EGFR-mutated lung cancer.
The osimertinib drugs market report table of contents includes:
1. Executive Summary
2. Osimertinib Drugs Market Characteristics
3. Osimertinib Drugs Market Trends And Strategies
4. Osimertinib Drugs Market – Macro Economic Scenario
5. Global Osimertinib Drugs Market Size and Growth
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31. Osimertinib Drugs Market Other Major And Innovative Companies
32. Global Osimertinib Drugs Market Competitive Benchmarking
33. Global Osimertinib Drugs Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Osimertinib Drugs Market
35. Osimertinib Drugs Market Future Outlook and Potential Analysis
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