March 28, 2020

Anaplastic Lymphoma Kinase Inhibitors Market will be Growing at a CAGR of 21.2% during the forecast period from 2019 to 2027

The latest market report published by Credence Research, Inc., the global market for anaplastic lymphoma kinase inhibitors is set to grow from US$ 1,496.4 million in 2018 to US$ 8,329.1 million in 2027, increasing to CAGR by 21.2 percent from 2019 to 2027.

Market Insights

According to statistics provided by the American Cancer Society (ACS), lung cancer is responsible for one in five cancer-related deaths worldwide, representing 19.4% of all cancer-related deaths, which is approximately 1.6 million deaths. Government health agencies are promoting health campaigns highlighting the risks associated with smoking and consumption of respiratory tobacco. A strong drug pipeline of second and third generation ALK inhibitors will further strengthen the market growth of ALK inhibitors in the near future.

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Non-small cell lung cancer is the most prevalent type of lung cancer in the world. In the present situation, 3 drugs Crizotinib, Ceritinib and Alectinib hydrochloride are the only drugs considered as first-line drugs specifically prescribed by oncologists for the treatment of non-small cell lung cancer. Crizotinib exercises its antineoplastic activity by specifically inhibiting tyrosine kinase receptor and ALK fusion proteins, thereby inhibiting tumor growth. Alectinib hydrochloride I is projected to be the most preferred first-line drug for advanced NSCLC therapy due to its excellent pharmacodynamic and pharmacokinetic properties.

North America, with a share of 36.2 per cent, is the global leader in the regional market for anaplastic lymphoma kinase inhibitors. The drivers of its profound market growth are increasing public health awareness of respiratory diseases and increasing prevalence of lung cancer. According to the research cited by the American Society of Clinical Oncology (ASCO), approximately 228,150 patients were reported to have been receiving lung cancer in the United States in 2019. Europe has a market share of 29.8% and is in second place due to the affordable reimbursement scenario associated with the treatment of non-small cell lung cancer and the domicile of major players such as Roche, Novartis AG, Pfizer, Inc., Helsinn Therapeutics, etc. Asia Pacific, which holds 15.5 per cent market share in the current scenario, will see impressive growth during the forecast period due to a significant increase in the number of smokers later diagnosed with lung cancer and developing healthcare infrastructure.

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Biopharmaceutical companies actively seeking to create a strong foothold in the anaplastic lymphoma kinase inhibitors market are Betta Pharmaceutcials Co., Ltd., Crtierium, Inc., F.Hoffman-La Roche Ltd., Helsinn Therapeutics, Novartis AG., Oncoethix GmbH, Pfizer, Inc., Takeda Pharmaceutical Co., Ltd., Xcovery Holding Company, LLC and Tesaro, Inc.

Key Market Movements:

  • Rising prevalence of non small cell lung cancer throughout the globe
  • Affordable reimbursement scenario for the treatment of NSCLC in both developed and developing nations worldwide
  • Strong drug pipeline of second generation and third generation ALK inhibitors to propel the market in the near future

Report Scope by Segments

By Molecule Type

  • Crizotinib
  • Ceritinib
  • Alectinib Hydrochloride

By Geography Segment

  • North America (U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (Middle East & Africa, Latin America)

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