Press release
Kidney Cancer Drugs Market to Expand at a CAGR of 6.6% by 2020
Biopharmaceutical behemoth Pfizer, Inc., among them, led the global market for kidney cancer drugs with maximum share in 2013 on the back of Sunitinib and Axitinib, two of the main drugs used for treating kidney cancer. Other big names in the industry, such as Novartis and GSK too are adopting other strategies to increase their geographical outreach. They are focusing on bolstering their distribution networks in the relatively underserved markets in the emerging nations that are seeing an increasing prevalence of kidney cancer cases.
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A report by Transparency Market Research predicts the global market for kidney cancer drugs to expand at a 6.6% CAGR during the period between 2014 and 2020.
North America Market Leads on the Back of Commercial Availability of Drugs from Prominent Brands
Depending upon the prominent brands of drugs, the global market for kidney cancer drugs can be segmented into Avastin (Bevacizumab), Afinitor (Everolimus), Inlyta (Axitinib), Torisel (Temsirolimus), Nexavar (Sorafenib), Sutent (Sunitinib), Proleukin (Aldesleukin/Interleukin-2), and Votrient (Pazopanib). Of them, Sutent, which is the marketed version of Sunitinib – Pfizer’s drug in the global kidney cancer drugs market, raked in maximum revenue in 2013. This is because Sutent is mainly prescribed as the first-line of treatment against kidney cancer. Sutent is also among the most studied drugs in its class for multiple indications, as it targets multiple receptor tyrosine kinases (RTKs).
Geography-wise, the key segments of the global market for kidney cancer drugs are North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America, among them, accounts for maximum market share owing to most prominent brands of kidney cancer treatment drugs being commercially available. In addition, a substantial number of patients and a solid healthcare system tailor-made for the pharmaceutical industry is also majorly fuelling the market in the region. North America accounted for 45% of market share in 2013.
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Rising Population of Geriatrics Highly Susceptible to Kidney Cancer Driving Market
The global market for kidney cancer drugs is predicted to clock steady growth in the upcoming years because of an increasing geriatric population and higher prevalence of kidney cancer. As per the American Cancer Society, those afflicted with kidney cancer are mostly in the higher age bracket. The average age of people diagnosed with the malady is 64. Kidney cancer is very uncommon in people under the age of 45. The organization also finds that kidney cancer is one of the 10 most common cancers in both men and women.
Approval of novel drug molecules is also serving to catalyze growth in the global kidney cancer drugs market. Posing a challenge to the market, on the contrary, is the growing sales of generic drug variants on account of expensiveness of branded cancer drugs.
A trend noticed in the global market for kidney cancer drugs is the manufacturers shifting their gaze towards developing economies to bring about sales growth.
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