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Kidney Cancer Drugs Market: High Cost of Drugs to Hamper Market Growth during 2014-2020
A new market report published by Transparency Market Research is Kidney Cancer Drugs Market (Major Drugs: Afinitor (Everolimus), Avastin (Bevacizumab), Inlyta (Axitinib), Nexavar (Sorafenib), Proleukin (Aldesleukin), Sutent (Sunitinib), Torisel (Temsirolimus), Votrient (Pazopanib)) - Global Industry Analysis, Pipeline Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Published 15 September 2015
The Global kidney cancer drugs market at a CAGR of 6.6% during the period from 2014 to 2020. The report, titled “Kidney Cancer Drugs Market - Global Industry Analysis, Pipeline Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, estimates the overall market to be worth US$4.5 billion by 2020.It is estimated that kidney cancer, more commonly known as renal cell carcinoma (RCC), accounts for 85% of kidney tumors. It is one of the most common types of cancer and is closely associated with smoking. In 2012, 338,000 new cases of kidney cancer were diagnosed worldwide by the World Cancer Research Fund International. The report estimates the growing number of kidney cancer patients to boost the global kidney cancer drugs market. Also, the increasing global geriatric population is expected to fuel the market. Approval and introduction of novel molecules for the treatment of kidney cancer is estimated to further push the growth of the global kidney cancers drugs market.
However, the high prices of branded cancer drugs will negatively affect the market. It has been observed that there is an increasing preference for generic drug variants. This will hamper the overall kidney cancer drugs market. The report cites that drug manufacturers are focusing on emerging markets, which will open new opportunities for the kidney cancer drugs market during the forecast horizon. Among the presently approved drugs for kidney cancer, some of the cancer treatment mechanisms are angiogenesis inhibitor, immune modulation therapy, and cytokine therapy. The global kidney cancer drugs market has been segmented on the basis of the major branded drugs used by the patients. Votrient, Avastin, Inlyta, Proleukin, Torisel, Sutent, Afinitor, and Nexavar are the branded drug segments mentioned in the report.
In 2013, Sutent accounted for more than 30% of the global kidney cancer drugs market and emerged as the dominant segment of the market. Leading drug manufacturer Pfizer makes Sunitinib, which is marketed as Sutent and is used as a first-line treatment for kidney cancer. The report indicates that the high price of the drug will lead to the sluggish growth of the segment at a CAGR of 1.1% between 2012 and 2016, and at a CAGR of 2.1% between 2016 and 2020. During the forecast period, Votrient is expected to be the fastest growing segment of the market, bearing a CAGR of 41.7% during the period from 2012 to 2016.
The global kidney cancer drugs market has also been segmented depending upon the potential pipeline drugs to be launched during the forecast period. Cabozantinib, Keytruda, Dovitinib, AGS-003, and Opdivo, are some of the drugs to be launched and commercialized during the period between 2014 and 2020. Europe, North America, Asia Pacific, and Rest of the World are the key geographical regions of the global kidney cancer drugs market. Owing to the growing demand from Canada and the U.S., North America has been the largest region of the overall market, accounting for more than 45% of the market. However, during the forecast period, Asia Pacific is expected to show significant growth at a CAGR of 6% due to increasing demand from China, Japan, and Australia.
Browse the full Kidney Cancer Drugs Market (Major Drugs: Afinitor (Everolimus), Avastin (Bevacizumab), Inlyta (Axitinib), Nexavar (Sorafenib), Proleukin (Aldesleukin), Sutent (Sunitinib), Torisel (Temsirolimus), Votrient (Pazopanib)) - Global Industry Analysis, Pipeline Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 report at http://www.transparencymarketresearch.com/kidney-cancer-drugs-market.html
Some of the key market players profiled in the report are Pfizer, Novartis AG, and GlaxoSmithKline. Pfizer monopolized the market in 2013, with a share of more than 40%.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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