The vendor landscape of the kidney cancer drugs market is largely consolidated and competitive in nature.
The vendor landscape of the kidney cancer drugs market is largely consolidated and competitive in nature. Major players operating in the market are focusing on clinical collaboration and commercial expansion to tap several opportunities present in the market. Stringent governmental regulation makes this market tough for small players. Small player in the market are launching several bio-similar products in order to satisfy increasing demand from the emerging economies of the globe.
Some of the prominent players operating in the global kidney cancer drugs market are Bristol-Myers Squibb, Bayer, Eisai, Novartis, Genentech, Pfizer, and Prometheus Labs. These players are ramping their investments in advanced research and development activities so as to receive as many patents from government.
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For instance in 2017, FDA approved a drug called stuent, this drug is helpful in preventing kidney cancer among adults who are under high risk of these diseases once their kidney is removed. The unprecedented rise in geriatric population across the globe offers lucrative avenues for the growth.
According to TMR, the kidney cancer drugs market is expected to rise at a healthy 6.6 CAGR from 2014 to 2020.
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Geographically, the market for kidney cancer drugs in North America is expected to rise at a highest pace during the forecast period. This is mainly due to the increasing demand of efficient kidney cancer drugs in the region due to the increasing cases. Along with this, presence of developed healthcare infrastructure and better medical reimbursement facilities in the region are some other factors propelling the global kidney cancer drugs market. There are several types of kidney cancer drugs in the market on the basis of composition. Of various types, Sutent is expected to dominate the global market in the coming years. This is because this drug is capable of targeting several receptor tyrosine kinases, a microorganism present in kidney cancer cell.
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Robust Supply Chain for Supply of Kidney Cancer Drugs to Boost Adoption
The global kidney cancer drug market is likely to expand at a steady pace in the coming years. This is mainly due to the factors, such as rising geriatric population, changes in lifestyle, and increasing consumption of toxic products such as alcohol.
Apart from this, factors like easy availability of novel drugs is boosting use of kidney cancer drugs. This is mainly because of the presence of supply chain for drug supply. This is expected to augment growth in the global kidney cancer drugs market. Additionally manufacturer of the kidney cancer drug are launching online portal for sales of drugs. This is further expected to enhance their supply.
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Costly Treatment Procedures to Impede Growth in Developing Region
Introduction of advanced drugs such as immunotherapy and immune-oncologic is likely to boost adoption rate. This is because these novel drugs are more effective than targeted therapies to specific patient subpopulation. This is offering a better treatment results than traditional drugs available in the market.
On the flipside, despite several drivers the growth in the global kidney cancer drugs market is hampered owing to high price of drug and costly treatment procedure. The kidney treatment is long procedure and requires several sessions. Due to this, lower and middle class population is hesitant about opting for kidney cancer treatment. This is projected to hinder overall growth over the forecast period.
Nevertheless, several insurance companies are providing full treatment reimbursement for treatment of kidney cancer. This is a strong factor expected to dilute restrain in the kidney cancer drugs market.
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