MET also known as c-MET is a proto-oncogene that encodes the high-affinity receptor for hepatocyte growth factor (HGF) which is involved in the HGF/c-MET signaling pathway. MET activity is important in mammalian development, tissue repair and maintenance. Any error in the functioning of MET signaling pathway has been associated with the development of cancers through the activation of oncogenic pathways, metastasis, and angiogenesis. MET inhibitor drugs represent a novel target for cancer therapy. MET inhibitor drugs market is likely to grow during the forecast period due to the rising prevalence of cancer and the involvement of companies in developing new drugs based on MET inhibition.
The outbreak of coronavirus is a shock to the world’s economy. It has caused a huge disturbance in almost all industries. It has also impacted MET inhibitor drugs development industries. As coronavirus has become the main focus, all biotech companies, pharmaceutical companies, research institutes are appointed in collaboration work to deal with Covid-19. This led to the shifting of their focus and also all the resources from making other drugs to coronavirus vaccines. This is affecting the productivity of MET inhibitor drugs development, and due to global restrictions, the companies are now facing a demand shock with an uncertain recovery timeline.
The increasing prevalence of major cancers such as breast, colon, and lung cancer across the globe and the demand to manage it effectively is the major driving factor of the MET inhibitor drugs market. The increasing involvement of several research institutes and pharmaceutical companies in developing new cancer drugs based on the MET-dependent signaling pathway inhibition is also likely to drive the MET inhibitor drugs market growth. Also, there are many drugs that are in the developmental stage and underway clinical trials in various phases of clinical trials. The increasing collaborations ad mergers activities of the major companies are another factor boosting the growth of the MET inhibitor drugs market. However, there are some factors which can restrain the growth of the MET inhibitor drugs market such as stringent regulations imposed by the authorities.
MET inhibitor drugs market has been segmented on the basis of product type, and distribution channel.
Based on the product type, the global MET inhibitor drugs market can be segmented as:
Based on the distribution channel, the global MET Inhibitor Drugs market can be segmented as:
Based on the product type, C-Met biological inhibitors segment is expected to hold a major share in the MET inhibitor drugs market. Based on the distribution channel, hospital pharmacies segment is expected to be the most profitable segment in the global MET inhibitor drugs market due to the higher flow of patients and advanced medical facilities in the hospital.
North America is expected to dominate the global MET inhibitor drugs market, due to the increasing advancement in the cancer drugs development and ongoing clinical trials in the region. North America is expected to be followed by Europe, due to the rising prevalence of cancer in the region and growing biotech companies in the region. Asia-Pacific is expected to have a significant growth in the global MET inhibitor drugs market over the forecast period due to the increasing awareness of the drug and rising healthcare expenditure in the region. Also, the increasing population in countries like India and China is expected to boost the MET inhibitor drugs market.
Some of the market participants in the global MET inhibitor drugs market identified across the value chain include: Abbott Laboratories, Johnson and Johnson, Novartis International AG, Eli Lilly and Company, Pfizer Inc., Merck & Co., Takeda Pharmaceutical Company, GlaxosmithKline plc, Amgen Inc., Bristol Myers Squibb, Daiichi Sankyo Company, Limited, and others.
The report covers exhaustive analysis on:
Regional analysis includes