Industry Outlook

The anaplastic lymphoma kinase (ALK) inhibitors market is set to reach from US$ 2,130.8 Mn in 2020 to 16,889.4 Mn by 2030 keen to demonstrate exuberating growth at a compounded annual growth rate (CAGR) of 21.2% during the forecast period from 2023 to 2030. Lung cancer is the second most occurring type of cancer in both men and women population worldwide. Increased consumption of tobacco, unhealthy lifestyle and stress are the major risk factor responsible for the occurrence of lung cancer. A strong drug pipeline of second and third-generation ALK inhibitors being currently studied in various stages of clinical trials are being developed specifically for the treatment of non small cell lung cancer (NSCLC).

"Excellent pharmacodynamic and pharmacokinetic properties drive the market growth of first generation ALK inhibitors"

Non small cell lung cancer (NSCLC) is the most common type of lung cancer occurring throughout the globe. The prognosis of the NSCLC is difficult and its initial screening is rather poor which significantly increases the requirement for development of targeted drug therapy for its treatment. FDA has approved only 2 drugs specifically for the treatment of NSCLC In the present scenario first generation ALK inhibitor Crizotinib is spearheading the molecule segment for anaplastic lymphoma kinase inhibitors market. It is basically an aminopyridine and piperidine derivative which selectively inhibits receptor tyrosine kinase and the ALK fusion proteins during the treatment of NSCLC. It has the potency to inhibit tumor cell growth. Alectinib hydrochloride is another first line ALK inhibitor which effectively inhibits wild type ALK point mutant variants and disrupts the tumor cell growth associated with advanced stage NSCLC.  Hence, excellent pharmacodynamic and pharmacokinetic properties together drive the market growth for first generation ALK inhibitors.

"Rising prevalence of lung cancer and affordable reimbursement scenario together drive the market growth in North America region"

Representing a share of 36.2% North America is currently leading the regional segment for anaplastic lymphoma kinase (ALK) inhibitors market. According to the research findings of American Society of Clinical Oncology (ASCO), in 2021, approximately 228,150 U.S. citizens have been reported to be suffering with lung cancer with a high prevalence rate in African American people. Affordable reimbursement scenario pertaining to the treatment of non small cell lung cancer drives the market growth ALK inhibitors in North America region. Europe is in the second place with 29.8% market share primarily due to huge prevalence rate of lung cancer in the European Union which is 54 per 100,000 people as brought forward by the 2020 statistical report of European Commission. Supportive regulatory environment provided by the European Medical Agency to expedite the clinical trials pertaining to second and third generation anaplastic lymphoma kinase inhibitors for the treatment of non small cell lung cancer  (NSCLC). Asia Pacific presently accounts for 15.5% market share and is keen to register outstanding growth during the forecast period on account of significant rise in tobacco consumption, thereby promoting the proliferation of NSCLC 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.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Anaplastic Lymphoma Kinase Inhibitors market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Anaplastic Lymphoma Kinase Inhibitors market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Anaplastic Lymphoma Kinase Inhibitors market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Anaplastic Lymphoma Kinase Inhibitors market?
• Which is the largest regional market for Anaplastic Lymphoma Kinase Inhibitors market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Anaplastic Lymphoma Kinase Inhibitors market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Anaplastic Lymphoma Kinase Inhibitors market worldwide?