Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
SHP2 Inhibitors Market By Type, By Application, By Distribution Channel, and Geography
SHP2 Inhibitors Market size was valued at US$ XXX million in 2022 and is expected to grow at a XX% CAGR from 2023 to 2029. SHP2 inhibitors block the pathway leading to KRAS G12C activation, which shifts the equilibrium towards inactive form, which has been shown preclinically to increase the target pool for KRAS inhibitors. The growing incidence of autoimmune disorder, metabolic disorders, and cancer across the globe is expected to drive the growth for SHP2 inhibitors market over the forecast period. in addition, increasing investments by pharmaceutical companies in research and development of developing novel SHP2 inhibitors along with the advancement of technologies leading to effective and safe SHP2 inhibitors is expected to propel the growth of SHP2 inhibitors market at a significant rate over the forecast period. furthermore, growing focus on precision medicine and targeted therapies for the treatment of various diseases such as cancer, autoimmune disease, metabolic disorder, and others are expected to aid the growth of SHP2 inhibitors market in the study period. However, factors like limited availability of targeted therapy option for treatment of SHP2 associated disease, high cost of development and clinical trials of SHP2 inhibitors, strict regulatory requirement for the approval of drug are expected to hinder the growth of SHP2 inhibitors market over the forecast period. In addition, the risk of drug resistance and side effects associated with the SHP2 inhibitors are anticipated to limit the growth of SHP2 inhibitors market over the forecast years. However, increasing healthcare expenditure, rising burden of disease, and development of personalized therapeutic option for treatment of cancer and other disease are expected to open up significant opportunities for market players in SHP2 inhibitors market over the forecast period. Geographically, North America region held the major market share in 2022 and is expected to dominate the global SHP2 inhibitors market in the forecasted years.
Recent SHP2 Inhibitors Market Key Developments:
In June 2020, AbbVie announced their strategic collaboration with Jacobio to advance the SHP2 Inhibitors.
Study Period
2024-2030Base Year
2023CAGR
X%Largest Market
North AmericaFastest Growing Market
Europe
The SHP2 inhibitors market is expected to grow over the forecasted period due to the increasing incidence of cancer, autoimmune disorder, metabolic disease across the globe. Cancer is the one of the leading causes for death globally. For instance, according to the World Health Organization, around 9.6 million deaths were registered due to cancer in 2018. In addition, autoimmune disease and metabolic disorder also have a significant effect on the world population. These diseases require specific therapy or treatment to improve the quality of life of patients. The inhibition of SHP2 inhibitors leads to the suppression of cell growth, proliferation, and cancer progression. The development of SHP2 inhibitors helps in the targeted treatment option of cancer patients across the globe.
Report Benchmarks |
Details |
Report Study Period |
2024-2030 |
Market CAGR |
X% |
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SHP2 Inhibitors Market was valued at US$ XXX million in 2022 and is expected to grow at a XX% CAGR from 2023 to 2029.
The SHP2 Inhibitors market is segmented based on type, application, distribution channel, end user, and geography
The leading players in the global SHP2 Inhibitors market are Genentech Inc, Eli Lilly & Company, Merck & Co, AbbVie Inc, Pfizer Inc, Astellas Pharma Inc, Vertex Pharmaceutical Incorporated, AstraZeneca Plc, Novartis AG, Sanofi S.A, Amgen Inc.
High cost of treatment, along with high risk of developing resistance to drug is expected to hinder the growth of SHP2 market over the forecast period.
Key Market Players