Global Kidney Cancer Drugs Market Propelled by New Treatment Approvals; to Reach US$4.5 bn by 202021 Nov 2015
An estimated CAGR of 6.6% has been attributed to the global kidney cancer drugs market, within a forecast period of 2014 to 2020. Transparency Market Research, the company that has calculated this estimate, has published findings in a research report, titled “Kidney Cancer Drugs Market - Global Industry Analysis, Pipeline Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”.
According to the report, the global kidney cancer drugs market is currently driven by multiple factors. At the top of this list is the growing number of patients that are afflicted with kidney cancer. Citations made in the report include findings by the World Cancer Research Fund International, which stated that by 2012, there were over 338,000 new cases of kidney cancer registered. Also known as renal cell carcinoma, kidney cancer constitutes 85% of the kidney-related tumors.
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The report also includes discussions on the introduction of novel molecules into mainstream medicine after their approval as a cancer treatment method and the impact it will have on the global kidney cancer drugs market in the near future.However, the global kidney cancer drugs market is continually hampered by high drug prices, especially in case of branded drugs. Consequently, most consumers are turning to generic kidney cancer drugs, which is restraining the market’s growth rate.
New manufacturing trends in the global kidney cancer drugs market reveal that top players are shifting focus towards the developing economies and their emerging markets. Companies hope the new markets will open up sales of their kidney cancer drugs owing to the high population density of countries such as China and India.Key players in the global kidney cancer drugs market are GlaxoSmithKline, Novartis AG, and Pfizer. The report notes that over 40% of the global kidney cancer drugs market in 2013 was held by Pfizer, due to patent monopoly in branded kidney cancer drugs.
The report explains the growth rate in the global kidney cancer drugs market, with key focus on various drugs in it, including Nexavar, Afinitor, Sutent, Torisel, Proleukin, Inlyta, Avastin, and Votrient. Of these, Sutent held over 30% of the global kidney cancer drugs market. Sutent is the marketed version of Sunitinib, Pfizer’s drug in the global kidney cancer drugs market. It is the most-preferred drug in the market for now. Sutent is expected to exhibit at a low CAGR of 2.1% from 2016 to 2020, owing to its high price. On the other hand, Votrient is expected to exhibit a fast growth rate. It has already recorded a CAGR of 41.7% between 2012 and 2016.
The report also provides details on the major pipeline drugs in the global kidney cancer drugs market, including Dovitinib and Opdivo.Geographically, the global kidney cancer drugs market is led by North America, which held 45% of the market in 2013. A 6.0% CAGR is attributed to Asia Pacific owing to increasing demand for kidney cancer drugs in the region’s rapidly developing economy and increase in focus by top players on the region.
Key segments of the Global Kidney Cancer Drugs Market
Kidney Cancer Drugs Market, by Major Branded Drugs
Kidney Cancer Drugs Market, by Geography
Rest of the World (RoW)
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Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.