Inkwood Research estimates that the Global Kidney Cancer Therapeutics and Diagnostics Market is set to evolve at a CAGR of 5.52% in terms of revenue during the forecast period, 2019-2028.
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2019-2028.”
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Kidney cancer types include renal cell carcinoma, sarcoma,
Wilms tumor, and urothelial carcinoma. Many advancements like the liquid biopsy
technique are set to impact the diagnosis of kidney cancer. There is a rising
incidence of cancer cases across the globe. As a result, research organizations
and governments across the globe are implementing various initiatives and
approaches for monitoring and preventing cancer.
Rising
R&D Expenditure Propels Market Growth
Kidney cancer patients have found relief in pharmaceutical
and biopharmaceutical products. This is accredited to the research of
therapeutic agents by the companies. The companies conduct vast research by
spending huge amounts on research & development activities. The Department
of Defense’s Congressionally Directed Medical Research Programs (CDMRP) approved
approx. USD 10 million for research studies of kidney cancer, in March 2017.
The aforementioned organization received an additional 5 million USD by the
Society of Urologic Oncology and the American Urological Association. The
largest share of revenue in the industry’s sector was contributed by the
biopharmaceutical companies, accounting for more than 53% of total US medical
and health R&D expenditures. Thus, the rising research & development
activities and the expenditure are set to be beneficial for market growth.
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Drugs are
the leading & dominating Component in terms of Revenue
The growing application of drugs for kidney cancer treatment
is resulting in increased demand for these drugs in the market. The rising
preference for such drugs, disease complications, and technological
advancements, have led to major players increasing their R&D expenditure.
This further drives the overall market growth. The drugs by the therapeutic
class include targeted therapy and immunotherapy. The targeted therapy includes
drugs called small molecule inhibitors used for treating advanced kidney
cancer. Immunotherapy entails using the immune system as a shield to fight
cancer. Drugs by the pharmacologic class include Angiogenesis
Inhibitors, MTOR Inhibitors,
Monoclonal Antibodies, Cytokine Immunotherapy (IL-2),
etc.
North
America to Dominate the Global Market throughout 2019-2028
North America is set to witness rapid growth with regard to
the kidney cancer therapeutics diagnostics market. The region houses major
market players like Medtronic, NxStage Medical, Baxter International, B. Braun
Melsungen, etc. Chronic kidney disease
is one of the leading causes of death in the United States. More than 500,000
patients underwent dialysis treatment, while over 200,000 lived with a kidney
transplant, in 2017 in the United States.
The companies in the market are exploring new drug molecules
as part of their consistent efforts at bringing new drug molecules. The
investments in terms of expansion of applications, co-administration with other
agents, alternate dosing strategies, have resulted in an intense competition
between the established companies. Some of the major companies in the market
include, Novartis International AG, F. Hoffmann-la Roche, Becton, Dickinson and
Company (BD), Abbott Laboratories, Pfizer Inc, etc.
About Inkwood Research
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relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises of North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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