FLT3 Inhibitors Market Expected to Reach $2,061.3 Million in 2032

The global FLT3 inhibitors market is in the nascent stage. The landscape of treatment of blood cancers with FLT3 positive mutations by novel inhibitory therapeutics is massively growing, with many emerging and legacy companies venturing into the industry with their respective therapeutic portfolio exclusively developed and designed for the treatment of FLT3 mutated acute myeloid leukemia (AML). Through imaging, genetic, and biomarker studies, researchers are gaining a deeper understanding of the biology of AML, which will likely resolve many current problems in FLT3 mutated AML diagnosis and classification.

The global FLT3 inhibitors market is expected to reach $2,061.3 million in 2032 from $400.9 million in 2021 at a CAGR of 14.88% during the forecast period 2022-2032. The global FLT3 inhibitors market growth is expected to be driven by the introduction of novel products, the increasing incidence of acute myeloid leukemia, and the rising research and development investments, among others.

Global FLT3 Inhibitors Market

Impact

The growing interest of the pharmaceutical industry in the therapeutic potential for treating blood cancers with FLT3 positive mutations has been a catalyst for the progress of the global FLT3 inhibitors market. Recently approved products such as Xospata and Rydapt for treating FLT3 mutated acute myeloid leukemia (AML)  The recent increase in the number of drug approvals received for treating acute myeloid leukemia with FLT3 positive mutations is considered to have added value to the emerging potential drug development. There are three FLT3 inhibitors approved by the U.S. Food and Drug Administration during 2015-2021. Also, many FLT3 inhibitors are in preclinical or clinical trials, indicating progress toward making an impact in the pharmaceutical industry.

Drug development is more prominent in countries such as the U.S., Germany, the U.K., and Japan. Moreover, the presence of major market players such as Astellas Pharma Inc., Daiichi Sankyo Company, Limited., Novartis AG, Allarity Therapeutics, Inc., and AROG Pharmaceuticals, Inc. has a positive impact on the market growth.

Recent Developments in the Global FLT3 Inhibitors Market

•    In March 2021, Astellas Pharma’s Xospata (Gilteritinib) met the overall survival endpoint in the COMMODORE trial of subjects having FLT3 mutated relapsed or refractory acute myeloid leukemia.
•    In December 2021, Allarity Therapeutics submitted a New Drug Application (NDA) to the U.S. FDA for Dovitinib as a third-line treatment for renal cell carcinoma (RCC).
•    In June 2021, Cullinan Oncology received Investigational New Drug (IND) Clearance from the FDA for CLN-049 to treat relapsed/refractory AML.
•    In June 2019, Daiichi Sankyo Company, Limited received a Complete Response Letter (CRL) from the U.S. FDA for the New Drug Application (NDA) of Vanflyta (Quizartinib) to treat adult patients with relapsed/ refractory FLT3-ITD acute myeloid leukemia.

Demand – Drivers and Limitations

Following are the demand drivers for the global FLT3 inhibitors market:

•    Introduction of Novel Products
•    Increasing Incidence of Acute Myeloid Leukemia
•    Rising Research and Development Investments

The market is expected to face some limitations too due to the following challenges:

•    High Treatment Cost Impacting the Adoption Rate
•    Disease Relapse in FLT3 Mutated AML

Analyst’s Thoughts

According to Vaishali Chauhan, Research Analyst, BIS Research, “The global FLT3 inhibitors market is a small segment of the entire tyrosine kinase inhibitors market and is growing. Moreover, along with it, the rising interest of the pharmaceutical industry in developing and marketing novel drugs for treating blood cancers with FLT3 positive mutations is making headway in the growth of the global FLT3 inhibitors market. Until recently, patients suffering from FLT3 mutated AML were mainly treated with chemotherapy, which was not very efficient at improving survival rates. A new group of drugs known as FLT3 inhibitors is enhancing the outlook for people with the FLT3 positive mutation.”

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Some prominent names established in this market are:

•    Cullinan Oncology, LLC
•    Astellas Pharma Inc.
•    Allarity Therapeutics, Inc.
•    AROG Pharmaceuticals, Inc.
•    Aptose Biosciences Inc.
•    Novartis International AG
•    Daiichi Sankyo Company, Limited
•    CSPC ZhongQi Pharmaceutical Technology Co., Ltd.
•    FUJIFILM Pharmaceuticals U.S.A., Inc.
•    Jiangsu HengRui Medicine Co., Ltd.

 Key Questions Answered in This Report

▪ What are the major market drivers, challenges, and opportunities in the global FLT3 inhibitors market?

▪ What are the underlying structures resulting in the emerging trends within the global FLT3 inhibitors market?

▪ What are the key development strategies that are being implemented by the major players to sustain themselves in the competitive market?

▪ What is the pricing and reimbursement scenario in the field of FLT3 inhibitors?

▪ What are the potential emerging therapies present in the pipeline for FLT3 inhibitors?

▪ What are the key regulatory implications in major geographies pertaining to FLT3 inhibitors?

▪ What are the potential entry barriers which are expected to be faced by the companies willing to enter a particular country?

▪ How is each segment of the market expected to grow during the forecast period 2022-2032, and what is the anticipated revenue to be generated by each of the segments?

Following are the segments:

▪ Commercialized Therapies (Type 1 FLT3 Inhibitors and Type 2 FLT3 Inhibitors)

▪ Potential Pipeline Products (Crenolanib, Dovitinib, and SKLB1028)

▪ Region (North America, Europe, Asia-Pacific, and Rest-of-the-World)

▪ What are the growth opportunities for the companies in the region of their operation?

▪ Who are the leading players with significant offerings in the global FLT3 inhibitors market?

▪ Which companies are anticipated to be highly disruptive in the future, and why?

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How Can This Report Add Value to an Organization?

Product/Innovation Strategy: The product segment helps the reader understand the commercialized therapies present in the market, along with potential pipeline products that are in different stages of clinical trials. Moreover, the study provides the reader with a detailed understanding of regional analysis based on the presence of FLT3 inhibitors.

Growth/Marketing Strategy: The global FLT3 inhibitors market has seen major development by key players operating in the market, such as regulatory and legal activities, product approvals and launches, partnerships and alliances, and other development activities. The favored strategy for the companies has been regulatory and legal activities along with product approvals to strengthen their position in the market.

Competitive Strategy: Key players in the global FLT3 inhibitors market analyzed and profiled in the study involve drug manufacturers for the treatment of cancer with FLT3 positive mutations. Moreover, a detailed competitive benchmarking of players operating in the global FLT3 inhibitors market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

 

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