Anaplastic Lymphoma Kinase (ALK) Inhibitors Market Future Demand and Size 2024

Posted by Ritu on November 11th, 2020

The anaplastic lymphoma kinase inhibitors market size has the potential to grow by USD 2.96 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

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This report provides a detailed analysis of the market by type (second-generation ALK inhibitors, first-generation ALK inhibitors, and third-generation ALK inhibitors) and geography (North America, Europe, Asia, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including AstraZeneca Plc, Betta Pharmaceuticals Co. Ltd., Bio-Techne Corp., F. Hoffmann-La Roche Ltd., GlaxoSmithKline Plc, Merck KGaA, Novartis AG, Pfizer Inc., Takeda Pharmaceutical Co. Ltd., and Turning Point Therapeutics Inc.

Who are the Major Anaplastic Lymphoma Kinase (ALK) Inhibitors Vendors?
The market is concentrated. The key vendors in the market are focusing on R&D activities to expand their regional base and increase their market shares. AstraZeneca Plc, Betta Pharmaceuticals Co. Ltd., and Bio-Techne Corp. are some of the major market participants. Although the high target affinity and specificity of ALK inhibitors will offer immense growth opportunities, the preference for substitute products will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this anaplastic lymphoma kinase inhibitors market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this anaplastic lymphoma kinase inhibitors market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

AstraZeneca Plc
Betta Pharmaceuticals Co. Ltd.
Bio-Techne Corp.
F. Hoffmann-La Roche Ltd.
GlaxoSmithKline Plc
Merck KGaA
Novartis AG
Pfizer Inc.
Takeda Pharmaceutical Co. Ltd.
Turning Point Therapeutics Inc.
What are the Major Segments by Type in the Anaplastic Lymphoma Kinase (ALK) Inhibitors Market?

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The high prevalence of lung cancer, strong pipeline development, and recent approvals are some of the significant factors driving the growth of the anaplastic lymphoma kinase market in this segment.

Market growth in this segment will be slower than the growth of the market in the first-generation and third generation ALK inhibitors segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the anaplastic lymphoma kinase inhibitors market size.

North America was the largest anaplastic lymphoma kinase inhibitors market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the increasing prevalence of lung cancer and the high sales of approved ALK inhibitors will significantly drive anaplastic lymphoma kinase inhibitors market growth in this region over the forecast period.

41% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for anaplastic lymphoma kinase inhibitors in North America. Market growth in this region will be slower than the growth of the market in Asia and Europe.

How will the High Target Affinity and Specificity of ALK Inhibitors Influence Anaplastic Lymphoma Kinase (ALK) Inhibitors Market Growth?
Despite the availability of several approved therapies for the treatment of advanced and recurring carcinomas, the adverse effects of these treatments reduce patient adherence. Anaplastic lymphoma kinase has emerged as a promising solution for NSCLC treatments as these drugs work on the target directly with higher efficacy than conventional therapies. ALK inhibitors can act on tumors with ALK variations such as echinoderm microtubule associated protein like 4 (EML4)-ALK translocations. Strong research and development and positive clinical trials of late-stage molecules will further boost the popularity of ALK inhibitors among medical practitioners and patients. The high target affinity and specificity of ALK inhibitors will be one of the significant factors driving the growth of the market.

The high efficacy of ALK inhibitors in the treatment of NSCLC has encouraged vendors to perform additional clinical trials for expanding its application to various other oncology indications. Vendors are also studying the effects of ALK inhibitors in combination therapies to enhance their efficacy in cancer treatment. The approvals of such combination therapies and the extension of the application of ALK inhibitors will broaden its customer base. Such factors will consequently boost ALK inhibitors market growth at a CAGR of about 20% during the forecast period.

What are the Key Factors Covered in this Anaplastic Lymphoma Kinase (ALK) Inhibitors Market Report?
Detailed information on factors that will drive anaplastic lymphoma kinase inhibitors market growth during the next five years
Precise estimation of the anaplastic lymphoma kinase inhibitors market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the anaplastic lymphoma kinase inhibitors market industry across North America, Europe, Asia, and ROW
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of anaplastic lymphoma kinase inhibitors market vendors
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