Market Overview
The Global Imatinib Drug Market is estimated to reach at a Significant CAGR during the forecast period (2024-2031). Several factors are propelling the growth of the market such as the increase in demand for target drug therapy and patient expiry of imatinib drugs. North America is holding a major market share in the global imatinib drug market due to increasing incidences of cancer and growing healthcare concerns. Competitive rivalry intensifies Sun Pharmaceutical Industries Ltd., Novartis AG, Dr. Reddy’s Laboratories Ltd and others operating in the market.
Imatinib is a chemotherapy drug that acts by reducing or preventing the progression of cancer cells. This drug is used for the treatment of certain cancers such as chronic myeloid leukemia, acute lymphoblastic leukemia, gastrointestinal tumors, certain skin tumors (dermatofibrosarcoma protuberans), and myelodysplastic/myeloproliferative diseases. Imatinib is designed to target abnormal proteins that promote the growth and survival of cancer cells and that are unique to these cells.
Market Summary
| Metrics | Details |
| Market CAGR | Prominent Growth |
| Segments Covered | By Application, By Drug Formulation, By End Use |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
The global imatinib drug market growth is driven by the increasing prevalence of cancer, increase in demand for target drug therapy, and patient expiry of imatinib drugs.
Increase in demand of target drug therapy and patient expiry of imatinib drug
For instance, according to National Cancer Institute in 2017, the number of new cases for Leukemia is 62,130, and the number of deaths was 24,500 which shows the increasing prevalence of cancer patients in the future and propels the imatinib drug market. In addition, Food and Drug Administration (FDA) approves enasidenib a target drug therapy for patients who has Acute myeloid leukemia (specifically genetic mutation IDH2). Moreover, the Imatinib drug helps treat patients with cancer by blocking the growth of eosinophils. This drug has been attributed to its higher efficacy in treating Chronic Eosinophilic Leukemia, Hyper-Eosinophilic Syndrome, Gastrointestinal Stromal Tumors (GIST), and many more. These factors are driving the growth of the market in the forecast period.
The increasing prevalence of cancer will drive the market growth in the forecast period
The increase in awareness of cancer by government and private organizations is anticipated to boost the market growth. According to the National Cancer Institute, in June 2017, it was estimated that there will be around 62,130 and 24,500 people with new cases and death due to leukemia, respectively, in the U.S. In addition, R&D activities related to imatinib are anticipated to present new opportunities during the forecast period.
The high cost of imatinib is likely to hinder the market growth
However, the high cost of imatinib, adverse effects, presence of substitutes, such as Sprycel, Tarceva, and Tasigna, and stringent government regulations may hinder the market growth.
COVID-19 Impact On Market
Imatinib is a tyrosine kinase inhibitor that has been approved for the treatment of many hematologic and solid neoplasm. Imatinib demonstrates in vitro activity against SARS-CoV viruses. Imatinib inhibits COVID 19 with micromolar EC50s nutrient absorption. It is also reported that imatinib may also be important for the replication of two members of the Coronaviridae family, SARS-CoV, and MERS-CoV. In vivo studies performed in the mouse model of vaccinia virus infection showed that imatinib was effective in blocking the dissemination of the virus.
The investigators hypothesize that the addition of imatinib to the best conventional care (BCC) improves the outcome of hospitalized adult patients with COVID-19. This hypothesis is based on 1) intralysosomal entrapment of imatinib will increase endosomal pH and effectively decrease, because of the critical role of mechanical ventilation in the care of patients with ARDS, imatinib will have a significant clinical impact for patients with severe COVID-19 infection in Intensive Care Unit (ICU). This factor will increase the sale of imatinib drugs in the forecast period.
Market Segmentation Analysis
The chronic Eosinophilic Leukemia segment is expected to grow at the fastest CAGR during the forecast period (2024-2031)
Chronic eosinophilic leukemia will show healthy growth in the future attributed to the increasing prevalence of cancers. Chronic Eosinophilic Leukemia (CEL) is a disorder in which eosinophil count is greater than 1500 µl in peripheral blood also called hyper-eosinophilia. It is a rare myeloproliferative neoplasm, overproduction of eosinophils in the bone marrow. This imatinib drug helps in treating the disorder by stopping the tyrosine kinase enzyme which blocks the abnormal eosinophils. Imatinib drug is more beneficial in patients who have leukemia from a genetic mutation. Moreover, the Imatinib drug also helps in improving blood counts and symptoms very fast which makes this drug highly adopted by the targeted patient pool and promotes the revenue growth of the imatinib drug market.
Gastrointestinal Stromal Tumors (GIST) is the second-largest share in the market due to the type of tumor that arises in the gastrointestinal tract (stomach and small intestine). Imatinib has been the first-line therapy for GIST. The drug targets KIT and PDGFRA (platelet-derived growth factor receptor A) proteins blocking the growth of tumor cells. The rising research activities have resulted in the development of innovative and advanced therapeutics, thus supporting the growth of the segment.
The imatinib capsules are expected to dominate the imatinib drug market during the forecast period
The imatinib capsules have the highest large in the market. Imatinib capsule is a medicine containing an active substance called imatinib. This medicine works by inhibiting the growth of abnormal cells in the diseases. The dosage is based on medical condition, response to treatment, and other medications. Imatinib capsules have 50 and 100 mg, film-coated tablets 100 and 400 mg product. The recommended dose of imatinib is 600 mg/day for adult patients with hematological experts in the management of this disease should supervise the therapy throughout all phases of care. Based on the existing data, imatinib is effective and safe when administered at 600 mg/day in combination with chemotherapy in the induction phase.
For instance, according to Cancer Research UK, new cases for pancreatic cancer accounted for almost 10, 257 in the United Kingdom, for 2015-2017. This factor is driving the growth of the market.
Market Geographical Share
North America region holds the largest market share global imatinib drug market
North America is holding a major market share in the global imatinib drug market due to increasing incidences of cancer and growing healthcare concerns. As per the National Cancer Institute, in 2018 an estimate of 1.7 million new cases of cancer was diagnosed wherein these drugs were used and thus promoting the growth of the imatinib drug market. Moreover, R&D expenditure in healthcare (oncology) is also anticipated to propel the growth of the imatinib drug market in the region. Furthermore, increasing healthcare expenditure and the presence of well-established healthcare infrastructure are also fueling the growth of the overall regional market to a large extent.
Market Companies and Competitive Landscape
The Imatinib Drug market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Sun Pharmaceutical Industries Ltd., Novartis AG, Dr. Reddy’s Laboratories Ltd, Teva Pharmaceutical Industries Ltd., Mylan N.V., Cipla Inc, and Apotex Inc, Sanofi S.A., Actavis Generics, and others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the imatinib drug market globally.
Imatinib Drug Market Key Companies to Watch
Dr. Reddy's Laboratories
Overview: Dr. Reddy’s Laboratories Ltd. is an integrated pharmaceutical company, providing medicines through its three businesses segment - Pharmaceutical Services & Active Ingredients, Global Generics, and Proprietary Products. The 5000-member team network connects with more than three lakh doctors regularly to ensure that quality medicines we make are available for patients across the length and breadth of the country. The company has progressively transitioned from being a maker of molecules to a provider of medicines. Dr. Reddy operates in markets across the globe. Company major markets include USA, India, Russia & CIS countries, and Europe.
Product Portfolio: The Company’s portfolio has over 200 products covering the whole spectrum of disease areas spanning gastroenterology, oncology, pain management, cardiovascular, dermatology, urology, nephrology, rheumatology, and diabetes. Seven brands are listed in the Top-300 of the Indian Pharma Market.
Key Development:
In July 2018, Dr. Reddy’s Laboratories launched imatinib Mesylate tablets, a generic version of Novartis' blockbuster anti-cancer drug Gleevec, in the US market the drug is used in treating chronic myeloid leukemia. The company has received US Food and Drug Administration (USFDA) approval to manufacture and market the product.
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