Kidney cancer drugs are used for the treatment of one of the most common types of cancer, kidney cancer. These drugs function by slowing or stopping the growth of cancer cells or killing the cancer cells. Kidney cancer drugs include angiogenesis inhibitors, mTOR inhibitors, and vaccines. Angiogenesis inhibitors work by preventing the growth of new blood vessels that tumors need to grow. mTOR inhibitors slow tumor cell growth by blocking a specific protein called mTOR that helps tumor cells grow. Vaccines train the immune system to recognize and attack cancer cells.
The Global Kidney Cancer Drugs Market Demand is estimated to be valued at US$ 7.15 Bn in 2024 and is expected to exhibit a CAGR of 9.7% over the forecast period 2024 to 2030.
Rising prevalence of kidney cancer around the world is the prime factor driving the growth of the kidney cancer drugs market. According to the American Cancer Society, kidney cancer is among the ten most common cancers in both men and women. Other factors fueling the demand for kidney cancer drugs include growing geriatric population, increasing adoption of targeted drug therapies, and approval and launch of novel drugs. However, high treatment costs and adverse effects associated with drug therapies may hamper the market growth.
Key Takeaways
Key players operating in the kidney cancer drugs market are Celanese Corporation, British Petroleum, Eastman Chemical Company, Jiangsu Sopo (Group) Co., Ltd., China Petroleum & Chemical Corporation (Sinopec), Lyondell Basell Industries, Saudi Basic Industries Corporation (SABIC), Mitsubishi Chemical Company, PetroChina Co. Ltd., PetroChina Co. Ltd., BASF SE. These players are focusing on developing new targeted drugs through research and developmental activities.
The global kidney cancer drugs market presents lucrative growth opportunities owing to rising investments in R&D of novel targeted drug therapies. Further, growing kidney cancer burden in developing countries offers opportunities for market players to expand their geographic footprint.
The key market players are engaging in mergers and acquisitions and partnerships to strengthen their product portfolio and global presence. For instance, in 2021, Eisai and Merck gained FDA approval for Lenvima (lenvatinib) for the treatment of advanced renal cell carcinoma in combination with pembrolizumab.
Market Drivers
Growing prevalence of kidney cancer worldwide is a major factor driving the demand for kidney cancer drugs. Rising geriatric population is also contributing to the market growth as kidney cancer is more common in older adults. Further, increasing R&D investments by key players for development of novel targeted therapies is anticipated to propel the kidney cancer drugs market over the forecast period.
Market Restraints
High treatment costs associated with kidney cancer drugs poses significant challenges for widespread adoption. Adverse effects of drug therapies also limit their uptake. Further, lack of awareness about kidney cancer in developing nations also hampers the market growth. Stringent regulatory framework for approval of new drugs also acts as a restraint.
Segment Analysis
The kidney cancer drugs market is segmented based on diagnostic techniques, therapy type and end users. Chemotherapy held dominating share due to the strong demand for drugs such as Sunitinib and Pazopanib. These drugs inhibit specific tyrosine kinases, thereby halting cancer progression. Their effective results in slowing tumor growth drive segment sales.
Immunotherapy sub segment is witnessing highest growth on account of introduction of inhibitors targeting specific immune pathways. Drugs like Nivolumab and Pembrolizumab help strengthen the body’s natural defenses to fight cancer. Their ability to stimulate the immune system for sustainable response against tumor cells boosts segment revenue.
Global Analysis
North America accounted for the largest share in the kidney cancer drugs market in 2024 owing to rising incidence of renal cell carcinoma and presence of developed healthcare infrastructure and reimbursement policies. Asia Pacific is anticipated to grow at a notable pace during the forecast period. Increasing healthcare spending, expanding private sector, and widening patient pool drive regional market growth. Key players focus on tapping opportunities in emerging economies like India and China to strengthen their geographic footprint.
For more insights, Read- https://www.marketwebjournal.com/kidney-cancer-drugs-market-trends-size-and-share-analysis/
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