FLT3 Inhibitors Market - A Global and Country Analysis: Focus on Commercialized Therapy, Potential Pipeline Product, and Region - Analysis and Forecast, 2022-2032

Report Highlights

Global FLT3 Inhibitors Market to Reach $2,061.3 Million by 2032

Market Segmentation

Segmentation 1: by Commercialized Therapies

• Type 1 FLT3 Inhibitors
• Type 2 FLT3 Inhibitors

The Type 1 FLT3 inhibitors segment represented the largest market share at 96.63% of total commercialized therapies in 2021. However, the Type 2 FLT3 inhibitors segment is anticipated to register a high growing CAGR of 14.63% during the forecast period 2022-2032.

Segmentation 2: by Potential Pipeline Products

• Crenolanib
• Dovitinib
• SKLB1028

The Dovitinib is expected to hold 59.56% of total potential pipeline products in 2032, while Crenolanib and SKLB1028 segment is expected to hold 33.71% and 6.73% in 2032, respectively.

Segmentation 3: by Region

• North America - U.S., Canada
• Europe - Germany, Italy, France, U.K., Spain, Rest-of-Europe
• Asia-Pacific - China, Japan, Rest-of-APAC (RoAPAC)
• Rest-of-the-World (RoW)

The North America FLT3 inhibitors market was valued at $252.7 million in 2021, and the region is currently the leading contributor to the market. The growth can be attributed to the increased research and development activities in the region.

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

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.

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.