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 the treatment of renal cell carcinoma (RCC). The drugs include targeted therapy, immunotherapy and chemotherapy. These drugs act by inhibiting tumor growth and spreading. Targeted therapy is gaining popularity as it is more effective and has less side effects compared to chemotherapy.
Market key trends:
One of the key trends in the kidney cancer drugs market is the growing adoption of targeted therapy. Novel targeted drugs are being introduced that have better clinical efficacy and improved safety profiles over classical chemotherapy drugs. For instance, inhibitors of mammalian target of rapamycin (mTOR), vascular endothelial growth factor receptor (VEGFR) and platelet-derived growth factor receptor (PDGFR) have emerged as major treatment options for kidney cancer. Also, the pipeline of emerging targeted therapies is strong with various pharmaceutical companies investing in R&D. This is expected to drive the growth of kidney cancer drugs market during the forecast period.
The increasing incidence and prevalence of kidney cancer is the major factor driving the growth of the kidney cancer drugs market. According to the American Cancer Society, in 2022, around 78,920 new cases of kidney cancer will be diagnosed in the US. Additionally, kidney cancer is more common in developed nations due to lifestyle factors such as smoking, obesity, and increased consumption of processed meat that increase the risk of the disease. Development of targeted therapy drugs for kidney cancer, including antiangiogenic therapy drugs and immunotherapy drugs, is also boosting the market.
SWOT Analysis
Strength: The high unmet medical need for effective treatment of kidney cancer is driving research and development efforts.
Weakness: High costs associated with drug development and costs of targeted therapy drugs limit their widespread adoption.
Opportunity: The emergence of combination therapies and drugs targeting new pathways offer the potential for better outcomes and market growth.
Threats: Intense competition among existing players may lead to pricing pressures.
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 incidence of kidney cancer cases driven by lifestyle changes and obesity.
The regional market is dominated by North America due to high healthcare spending and increasing adoption of advanced cancer drugs. Europe is the second largest market for kidney cancer drugs.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
