Global Kidney Cancer Therapeutics and Diagnostics Market to grow substantially at 5.52% by 2028

Inkwood Research estimates that the Global Kidney Cancer Therapeutics and Diagnostics Market is set to evolve at a CAGR of 5.52% in terms of revenue during the forecast period, 2019-2028.

"Browse 58 Market Data Tables and 48 Figures spread over 200 Pages, along with an in-depth TOC on the Global Kidney Cancer Therapeutics and Diagnostics Market Forecast 2019-2028."

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Kidney cancer types include renal cell carcinoma, sarcoma, Wilms tumor, and urothelial carcinoma. Many advancements like the liquid biopsy technique are set to impact the diagnosis of kidney cancer. There is a rising incidence of cancer cases across the globe. As a result, research organizations and governments across the globe are implementing various initiatives and approaches for monitoring and preventing cancer.

Rising R&D Expenditure Propels Market Growth

Kidney cancer patients have found relief in pharmaceutical and biopharmaceutical products. This is accredited to the research of therapeutic agents by the companies. The companies conduct vast research by spending huge amounts on research & development activities. The Department of Defense's Congressionally Directed Medical Research Programs (CDMRP) approved approx. USD 10 million for research studies of kidney cancer, in March 2017. The aforementioned organization received an additional 5 million USD by the Society of Urologic Oncology and the American Urological Association. The largest share of revenue in the industry's sector was contributed by the biopharmaceutical companies, accounting for more than 53% of total US medical and health R&D expenditures. Thus, the rising research & development activities and the expenditure are set to be beneficial for market growth.

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Drugs are the leading & dominating Component in terms of Revenue

The growing application of drugs for kidney cancer treatment is resulting in increased demand for these drugs in the market. The rising preference for such drugs, disease complications, and technological advancements, have led to major players increasing their R&D expenditure. This further drives the overall market growth. The drugs by the therapeutic class include targeted therapy and immunotherapy. The targeted therapy includes drugs called small molecule inhibitors used for treating advanced kidney cancer. Immunotherapy entails using the immune system as a shield to fight cancer. Drugs by the pharmacologic class include Angiogenesis Inhibitors, MTOR Inhibitors, Monoclonal Antibodies, Cytokine Immunotherapy (IL-2), etc.

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North America to Dominate the Global Market throughout 2019-2028

North America is set to witness rapid growth with regard to the kidney cancer therapeutics diagnostics market. The region houses major market players like Medtronic, NxStage Medical, Baxter International, B. Braun Melsungen, etc. Chronic kidney disease is one of the leading causes of death in the United States. More than 500,000 patients underwent dialysis treatment, while over 200,000 lived with a kidney transplant, in 2017 in the United States.

The companies in the market are exploring new drug molecules as part of their consistent efforts at bringing new drug molecules. The investments in terms of expansion of applications, co-administration with other agents, alternate dosing strategies, have resulted in an intense competition between the established companies. Some of the major companies in the market include, Novartis International AG, F. Hoffmann-la Roche, Becton, Dickinson and Company (BD), Abbott Laboratories, Pfizer Inc, etc.

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