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Kidney Cancer Diagnostics And Therapeutics Market Analysis 2024-2033 : Forecast Market Size, Top Segments And Largest Region
Kidney Cancer Diagnostics And Therapeutics Global Market Report 2024
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According to The Business Research Company's, The kidney cancer diagnostics and therapeutics market size has grown strongly in recent years. It will grow from $3.85 billion in 2023 to $4.08 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to research on molecular biology, clinical trials and drug development, surgical innovations, genetic discoveries, healthcare access improvements.
The kidney cancer diagnostics and therapeutics market size is expected to see strong growth in the next few years. It will grow to $5.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to biomarker research, genomic sequencing advances, telemedicine and remote consultations, precision medicine advancements, rapid diagnostic technologies. Major trends in the forecast period include palliative care integration, long-term survivorship care, nutrition and lifestyle intervention, expanded role of radiomics, liquid biopsies adoption.
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Market Drivers and Trends:
The increasing prevalence of kidney cancer is expected to drive the growth of kidney cancer diagnostics and therapeutics market. Kidney cancer refers to a condition that originates when the normal cells in one or both kidneys undergo abnormal changes and exhibit uncontrolled growth, resulting in the formation of a mass known as a renal cortical tumor. Diagnostics and therapeutics for kidney cancer play a crucial role in the management and treatment of the disease, offering several benefits for patients. offer several benefits in the management of kidney cancer, such as early detection, accurate diagnosis, treatment selection, personalized medicine, and treatment monitoring. For instance, in March 2023, according to the American Society of Clinical Oncology (ASCO), a US-based non-profit organization working for cancer care, in the United States, kidney cancer will be discovered in 81,800 individuals in 2023 (52,360 males and 29,440 women). And in 2020, kidney cancer will have affected 431,288 individuals globally. Therefore, the increasing prevalence of kidney cancer is expected to propel the growth of kidney cancer diagnostics and therapeutics market.
Product approval is a key trend gaining popularity in the kidney cancer diagnostics and therapeutics market. Major companies operating in the kidney cancer diagnostics and therapeutics market are focused on developing innovative products to strengthen their position in the market. For instance, in July 2021, Merck & Co., Inc., a US-based pharmaceutical company, received Health Canada's approval for KEYTRUDA (pembrolizumab) to treat patients with intermediate-high or substantial risk of recurrence of renal cell carcinoma (RCC) following nephrectomy. KEYTRUDA is a humanized monoclonal antibody that works by blocking the programmed death ligand 1 (PD-L1) protein on tumor cells, which helps keep the immune system from attacking the cancer. Additionally, the immunotherapy KEYTRUDA is the first to be authorized for use in the adjuvant treatment of renal cell carcinoma (RCC). This approval is a significant advance in the treatment of this disease. Also, it can help shrink tumors, slow the growth of cancer, and improve quality of life by reducing symptoms such as pain, fatigue, and nausea.
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Major Key Players of the Market:
Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Bayer AG, Novartis AG, Sanofi S.A, Bristol-Myers Squibb Pharmaceuticals Limited, Thermo Fisher Scientific Inc., AstraZeneca PLC, Abbott Laboratories, Takeda Pharmaceutical Company Limited, Eli Lilly and Co Ltd., Amgen Inc., Siemens Healthcare GmbH, Laboratory Corporation of America Holdings, Regeneron Pharmaceuticals Inc., Astellas Pharma Inc., Eisai Co. Ltd., Illumina Inc., PerkinElmer Inc., Ipsen S.A, Bio-Rad Laboratories Inc., QIAGEN NV, Exelixis Inc., Myriad Genetics Inc., Invitae Corporation, Guardant Health Inc., GeneDx LLC, CD Genomics, Genpath Life Sciences Private Limited
Kidney Cancer Diagnostics And Therapeutics Market 2024 Key Insights:
• The kidney cancer diagnostics and therapeutics market size is expected to see strong growth in the next few years. It will grow to $5.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.
• Rise In Prevalence Of Kidney Cancer Drives Growth In The Diagnostics And Therapeutics Market
• Product Approvals Enhance Growth Prospects In The Kidney Cancer Diagnostics And Therapeutics Market
• North America was the largest region in the kidney cancer diagnostics and therapeutics market in 2023
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