The global Kidney Cancer Drugs Market 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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Kidney cancer drugs includes targeted therapies, immunotherapy and chemotherapy drugs used for treating kidney cancer. These drugs help in blocking the growth and spread of cancerous cells in the body.
Market key trends:
One of the key trends in the kidney cancer drugs market is the rise in approvals for combination therapies. Combination therapy involves using two or more drugs that work differently to fight cancer. Combination therapies have emerged as an effective treatment option for kidney cancer patients. For instance, in 2021, KEYTRUDA® (pembrolizumab) in combination with LENVIMA® (lenvatinib) received FDA approval for the treatment of patients with advanced renal cell carcinoma. The approval was based on results from the KEYNOTE-581/Study 309 trial that showed superior progression-free survival along with manageable safety for the combination compared to sunitinib as a first-line treatment.
SWOT Analysis
Strength: Kidney cancer drugs have high survival and treatment rates. Advances in targeted drug therapies and immunotherapies have improved treatment outcomes.
Weakness: Kidney cancer drugs have severe side effects such as nausea, vomiting, fatigue, and loss of appetite. Development of drug resistance is also a concern.
Opportunity: Increasing incidence of kidney cancer worldwide provides opportunities for market growth. Rising healthcare expenditure in emerging nations further opens up opportunities.
Threats: High development costs of innovative drugs is a major threat. Patent expiries of blockbuster drugs also limit market growth opportunities.
Key Takeaways
The Global Kidney Cancer Drugs Market Size is expected to witness high growth, exhibiting CAGR of 6.4% over the forecast period, due to increasing incidence of kidney cancer worldwide.
Regional analysis: North America dominated the global kidney cancer drugs market in 2023 and is expected to maintain its lead over the forecast period. This is attributed to growing geriatric population, increasing healthcare expenditure, and presence of major players in the region. Asia Pacific is anticipated to be the fastest growing market due to rising incidence of cancer, growing healthcare infrastructure and improving access to cancer treatment options.
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. The global market is consolidating with top players conducting mergers and acquisitions to expand their product portfolios. For instance, in 2022, Exelixis acquired privately held biotech Tango Therapeutics to strengthen its portfolio of targeted therapies for cancer treatment.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
