LONDON--(BUSINESS WIRE)--The global proteasome inhibitors market size is poised to reach USD 1.7 billion by 2023, according to a new report by Technavio, progressing at a CAGR of close to 8% during the forecast period. The huge unmet need is projected to augment the market over the forecast period.
Key suggestions from the report:
- VELCADE segment represented more than 54% of the overall volume in 2018 owing to the advances in the research that helps the drug capture new patient pools.
- KYPROLIS segment is likely to register a CAGR of more than 10% in terms of revenue from 2019 to 2023 on account of the superior efficacy and the target affinity of KYPROLIS.
- NINLARO commanded over 11% of proteasome inhibitors volume share in 2018 and is expected to witness considerable growth during the forecast period, owing to diverse research being conducted on the drug.
- The North-American proteasome inhibitors market accounted for about close to 47% of the overall revenue in 2018, owing to the growing prevalence of various cancer indications including multiple myeloma and non-Hodgkin’s lymphoma.
- The proteasome inhibitors market is moderately concentrated with a few players occupying the market share. The market is witnessing an increasing collaboration between vendors that will considerably reduce the market competition among vendors.
Read a 136-page research report with TOC on "Proteasome inhibitors Market Analysis Report by product (VELCADE, KYPROLIS, NINLARO, and other products), and segment forecasts for 2019 to 2023" at
https://www.technavio.com/report/proteasome-inhibitors-market-industry-analysis
The market has only a limited number of approved therapies for multiple myeloma, with three branded proteasome inhibitors and one generic proteasome inhibitors approved. This has created opportunities for vendors to develop new proteasome inhibitors for the treatment of multiple myeloma. Thus, the huge unmet need is expected to attract various pharmaceutical vendors to conduct studies and launch the product, which will fuel the growth of the proteasome inhibitors market during the forecast period.
Proteasome inhibitors have long been developed for the treatment of blood cancer indications, with a focus on multiple myeloma. However, vendors are conducting studies on these drugs for the treatment of solid tumors also, which has led to the pipeline for proteasome inhibitors consisting of various molecules under investigation for solid tumors. It is also being developed for malignant melanoma, neuroblastoma, and pancreatic cancer. Thus, the expanded application of proteasome inhibitors is expected to fuel the growth of the market.
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Although the proteasome inhibitors are often considered safe, the treatment using these drugs could cause severe side effects in some patients. For instance, the treatment using KYPROLIS could cause adverse effects such as blood clots, tumor lysis syndrome, lung damage, pulmonary hypertension, and liver failure. Such adverse effects may reduce the adoption of proteasome inhibitors, thereby, negatively impacting the growth of the market during the forecast period.
Technavio has segmented the global proteasome inhibitors market based on the product (VELCADE, KYPROLIS, NINLARO, and other products), and region (North America, Europe, Asia, and ROW).
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