The latest market report published by Credence Research, Inc. “Global Anaplastic Lymphoma Kinase Inhibitors Market – Growth, Future Prospects, Competitive Analysis, 2019- 2027,” the global anaplastic lymphoma kinase inhibitors market is set to reach from US$ 1,496.4 Mn in 2018 to US$ 8,329.1 Mn in 2027 expanding at a CAGR of 21.2% from 2019 to 2027.
As per the statistics brought forward by the American Cancer Society (ACS), lung cancer is accountable for 1 in 5 deaths associated with cancer worldwide, representing 19.4% of all cancer related deaths which is approximately 1.6 million deaths. The government healthcare agencies are promoting health campaigns highlighting risk associated with smoking and consumption of tobacco with respiratory illness. A strong drug pipeline of second and third generation ALK inhibitors will further consolidate the ALK inhibitors market growth in the near future.
Non small cell lung cancer is the most prevalent lung cancer type occurring worldwide. In the present situation 3 drugs Crizotinib, Ceritinib and Alectinib hydrochloride are the only drugs which are considered as first line drugs specifically prescribed by oncologist for the treatment of non small cell lung cancer. Crizotinib exerts its antineoplastic activity by specifically inhibiting receptor tyrosine kinase and ALK fusion proteins thereby inhibiting tumor growth. Alectinib hydrochloride I projecting promising results and will become the most preferred first line drug for the treatment of advanced NSCLC owing to its excellent pharmacodynamic and pharmacokinetic properties.
North America with a share of 36.2% is the global leader in the regional segment for anaplastic lymphoma kinase inhibitors market. The drivers associated with its profound market growth are increasing public health awareness regarding respiratory illness and rising prevalence of lung cancer. As per the research citing brought forward by the American Society of Clinical Oncology (ASCO) approximately 228,150 patients have been reported to be serving with lung cancer in the United States in 2019. Europe represents 29.8% market share and is positioned in the second place owing to the affordable reimbursement scenario associated with the treatment of non small cell lung cancer and domicile of major players such as Roche, Novartis AG., Pfizer, Inc., Helsinn Therapeutics etc. further bolster the market growth in European Union region. Asia Pacific which is holding 15.5% market share in the current scenario will register impressive growth during the forecast period on account of significant rise in the number of smokers later being diagnosed for lung cancer and developing healthcare infrastructure.
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
Browse the full report Anaplastic Lymphoma Kinase Inhibitors Market – Growth, Future Prospects, Competitive Analysis, 2019 – 2027 report at https://www.credenceresearch.com/report/anaplastic-lymphoma-kinase-inhibitors-market
The Global Anaplastic Lymphoma Kinase Inhibitors Market is Segmented into:
|Segmentation||By Molecule (2017–2027; US$ Mn)|
|By Geography Segment (2017–2027; US$ Mn)|
*Complete segmentation list is on report page