by These drugs include immunotherapy drugs, targeted therapy drugs, chemotherapy drugs and other therapies that help fight cancerous kidney cells. Immunotherapy drugs stimulate the body’s immune system to fight cancer cells and include checkpoint inhibitors. Targeted therapy drugs target specific vulnerabilities within cancer cells and pathways driving cancer growth and progression. Key targeted drugs used for kidney cancer include tyrosine kinase inhibitors that target the VEGF and mTOR pathways.
The Global Kidney Cancer Drugs Market 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 2031.
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. The increasing prevalence of kidney cancer and growing adoption of advanced targeted therapies are driving the market growth. The rising availability of targeted drugs has been augmenting the global expansion of the kidney cancer drugs market.
The growing demand for effective targeted drugs for renal cell carcinoma treatment is fueling the kidney cancer drugs market growth. Introduction of novel targeted drugs with improved efficacy and safety is expected to further accelerate the market during the forecast period.
The Kidney Cancer Drugs Market Demand is expanding globally owing torising investments for research and development of innovative targeted drugs. Growing collaborations between pharmaceutical companies and research institutes for clinical trials is supporting the global reach of new kidney cancer therapies.
Market key trends
The adoption of combination targeted drug therapies is a key trend in the kidney cancer drugs market. Combining drugs that inhibit different pathways has shown promise in improving treatment outcomes. Ongoing clinical trials are evaluating various combination targeted therapies to establish efficacy and safety. This is expected to transform kidney cancer treatment if successful.
Porter’s Analysis
Threat of new entrants: The high costs for R&D and clinical trials to develop novel kidney cancer drugs pose significant entry barriers for new companies.
Bargaining power of buyers: Individual patients have little influence over drug prices due to dependence on healthcare providers and insurance coverage. However, group purchasing organizations have some bargaining power.
Bargaining power of suppliers: Suppliers of active pharmaceutical ingredients and contract manufacturing organizations have moderate bargaining power due to the specialized expertise required.
Threat of new substitutes: New drug classes or formulations could displace existing therapies, but substitute options are currently limited due to lack of alternatives for treating kidney cancer.
Competitive rivalry: Competition is high among major pharmaceutical companies targeting different kidney cancer indications and lines of treatment.
Geographical Regions
North America currently accounts for the largest share of the global kidney cancer drugs market, driven by higher adoption of advanced treatment options and favorable reimbursement scenario in countries like the United States.
The Asia Pacific region is expected to be the fastest growing market during the forecast period, fueled by rising healthcare expenditures, growing geriatric population, and increasing diagnosis and treatment rates for kidney cancer in major economies like China and India.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
