In a recent published report, Kenneth Research has updated the market report for ALK Positive Lung Cancer Treatment Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for ALK Positive Lung Cancer Treatment Market products.
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Kenneth Research has recently added a report titled ALK Positive Lung Cancer Treatment Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
ALK positive (ALK+ or anaplastic lymphoma kinase positive) lung cancer is a type of malignant lung tumor which leads to EML4-ALK (protein) production that provides a malignant behavior in the cancer cells.
According to the Lung Cancer Foundation of America, The ALK+ type of lung cancer usually occurs to patients with non-small-cell lung cancer, and to smokers and non-smokers below the age of 55.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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According to the National Center for Biotechnology Information (NCBI), by 2016, 84.7% of lung cancer are non-small cell lung cancer (NSCLC), from which 5 to 7% are diagnosed with ALK+, which is expected to boost the ALK positive lung cancer treatment market during the forecast period.
In 2012, the Health Canada, approved the use of ALK inhibitors crizotinib for the treatment of ALK+, which demonstrated more survival benefits compared to chemotherapy.
However, in 2014, ceritinib was approved by the Food and Drug Administration (FDA) in patients diagnosed with metastatic ALK+ lung cancer had been formerly treated with crizotinib.
Alectinib (ALK inhibitor),was also approved by Food and Drugs Administration (FDA) along with ceritinib, due to its potential benefits above crizotinib, such as greater sensitivity, specificity, and capacity to cross the blood brain barrier (BBB), and other resistance over the ALK+ mutations.
Moreover, various clinical research sites such as Princess Margaret Cancer Centre, Jewish General Hospital, Lakeridge Health, and others are set up in Canada to improve the success rate of crizotinib at primary diagnosis for stage IV of ALK+ lung cancer. Owing to these factors the ALK positive lung cancer treatment market is expected to propel during the forecast period.
ALK Positive Lung Cancer: Emerging Therapies
Lung cancer is one of the most common cancer type, and leader in deaths caused by cancer, in both women and men. According to the National Center for Biotechnology Information (NCBI), in 2016, 1.62 million deaths were accounted to lung cancer, which is 21.3% of total deaths caused by cancer.
Moreover, 90% of the total lung cancer type is non-small cell lung cancer (NSCLC), among which 3 to 7% are diagnosed with ALK positive.
ALK positive lung cancer are commonly found among patients with never or light smoking history, female gender, adenocarcinoma histology, and in wild type tumors such as KRAS and EGFR.
The development of drugs for ALK+ and approvals by government bodies is expected to drive the ALK positive lung cancer treatment market. Crizotinib was first approved by FDA for the treatment of ALK-positive NSCLC which improved the quality of life compared to platinum-based chemotherapy.
However, crizotinib has various side effects such as which includes diarrhea (43%), nausea (53%), vomiting (40%), edema (28%), lymphopenia (11%), visual disturbances (62%), and fatigue (20%).
Thus, Ceritinib, a second generation ALK inhibitor was approved by the Food and Drug Administration (FDA), in 2014, for the treatment of ALK positive metastatic NSCLC patients and showed a positive response of 95% against crizotinib. Thus, the developments and clinical research trails for drug treatment of ALK+ is expected to boost the ALK positive lung cancer treatment market during the forecast period.
Regional Acumens: ALK Positive Lung Cancer Treatment Market
The ALK positive lung cancer treatment market is anticipated to be dominated by North America followed by Europe and Asia Pacific. North America is expected to dominate the ALK positive lung cancer treatment market with its growing cases of deaths caused by lung cancer.
According to the American Cancer Society, in 2017, 14% were diagnosed with lung cancer out of all new cancers, and 3 to 7% were diagnosed with ALK positive lung cancer.
Thus, the increase in lung cancer patients is expected to boost the drug manufacturing industries, which in turn is expected to boost the ALK positive lung cancer treatment market during the forecast period. For instance, new developments in drugs by Pfizer Inc., an American pharmaceutical company, has introduced Lorlatinib, which is a third generation targeted therapy, but its approval from the Food and drug Administration (FDA) is awaited.
Thus, various development among other companies such as Abbott Industries and others is expected to boost the ALK positive lung cancer treatment market in North America during the forecast period.
Market Players:
Various innovations in the field of ALK positive targeted therapy is expected to boost the ALK positive lung cancer treatment market during the forecast period. For instance, Takeda Pharmaceutical Company Ltd, introduced Brigatinib, in 2017, which is a second generation targeted therapy drug and approved by the FDA.
Xcovery LLC, is also on the verge of manufacturing Ensartinib, which is a trial drug X-396, is also a second generation targeted therapy drug, Major players for hospice care services market include Pfizer Inc., Novartis International AG, Genentech, Inc., Takeda Pharmaceutical Company Ltd, and Xcovery LLC among others.
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