by The global Kidney Cancer Drugs Market Size is estimated to be valued at US$ 6.2 Bn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Kidney cancer drugs are used for treating kidney cancer that has spread to other parts of the body or metastatic renal cell carcinoma (RCC). These drugs work by targeting specific proteins and pathways that allow cancer cells to grow and spread. Some common kidney cancer drugs are sunitinib, pazopanib, axitinib, sorafenib, everolimus, lenvatinib, cabozantinib and nivolumab. These drugs are available as tablets that are usually taken once or twice daily for four weeks followed by two weeks off treatment. They are used to shrink tumors before surgery or to slow tumor growth for those who cannot have their kidney removed.
Market Dynamics:
The growth of the kidney cancer drugs market is majorly driven by the increasing prevalence of kidney cancer worldwide. According to statistics by the American Cancer Society, it is estimated that in 2023, around 76,080 new cases of kidney cancer will be diagnosed in the U.S. alone. Moreover, kidney cancer is more common in men than women. Other major drivers include rising geriatric population, increasing research and development activities for advanced drug formulations and upcoming drugs in late stage clinical trials. For instance, clinical trials are ongoing on investigational drugs such as cabozantinib, alectinib and savolitinib which may receive approval in the forecast period. The increasing use of combination therapies and targeted therapy over immunotherapy is also fueling the market growth. However, high cost of targeted drugs and treatment and poor reimbursement policies in some regions hinders the market growth.
Segment Analysis
The kidney cancer drugs market is dominated by the clear cell renal cell carcinoma sub segment which accounts for 70-75% of kidney cancer cases. This is because clear cell renal cell carcinoma is the most common type of kidney cancer in adults that grows and spreads faster than other types.
Pest Analysis
Political: Government initiatives to increase awareness about kidney cancer and fund research & development activities are driving the market. However, stringent regulations for drug approval may hamper growth to some extent.
Economic: Rising healthcare expenditure, growing disposable incomes, and increasing demand for advanced treatment options are fueling the kidney cancer drugs market.
Social: Growing cases of kidney cancer globally due to changing lifestyles and risk factors like obesity, smoking are propelling the need for advanced treatment drugs in the market.
Technological: Increasing R&D investments by key players for development of novel drug formulations and combination therapies to improve treatment efficacy are boosting the market.
Key Takeaways
The global Kidney Cancer Drugs Market is expected to witness high growth, exhibiting CAGR of 6.4% over the forecast period, due to increasing penetration of advanced drugs and growth in incidence rates.
The North America region is expected to dominate the kidney cancer drugs market during the forecast period. This is attributed to growing prevalence of kidney cancer, rising awareness about treatment options, and strong presence of key market players in the region.
Regional analysis
The Asia Pacific region is anticipated to exhibit the fastest growth rate during the forecast period owing to large patient pool, rising healthcare spending, and increasing availability of advanced treatment drugs in the region.
Key players
Key players operating in the kidney cancer drugs market are Pfizer Inc., Novartis International AG, Genentech, Inc., Active Biotech AB, Amgen Inc., Bayer AG, Cipla Limited, Hoffmann-La Roche AG, Bristol-Myers Squibb Company, Eisai Co., Ltd., and Exelixis, Inc. Key players are focusing on developing innovative treatment formulations and combinations through extensive R&D activities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
