The size of the Kidney Cancer Diagnostics and Therapeutics Market in Asia-Pacific was worth USD 1.00 billion in 2022 and estimated to be growing at a CAGR of 5.92%, to reach USD 1.33 billion by 2027.
Asia-Pacific is expected to be the fastest-growing regional market worldwide during the forecast period. The expansion of this market is likely to be fueled by an increase in the number of patients who have renal cancer, increased patient awareness, and decreased drug production costs. In addition, increased government activities and other private organizations raising awareness about early cancer detection and prevention are expected to drive market expansion during the forecast period. Furthermore, cancer cells that help them grow, divide and spread are targeted by targeted therapy.
Cabozantinib, axitinib, sunitinib, sorafenib, and pazopanib are targeted medicines used to treat clear cell renal cancer. As a result of the disease's high prevalence and the availability of diagnostic tools and treatment options, the market is predicted to increase. The main drivers driving the growth of the Asia Pacific kidney cancer diagnostic and therapeutics market are the increasing prevalence of kidney cancer, changes in lifestyles such as smoking and drinking, decreased physical activity, and the approval of novel medications to treat kidney cancer. Furthermore, immunotherapies would emerge as a business potential for marketers.
The APAC kidney cancer market is predicted to increase due to continuous technological advancement and drug expansion in various therapies such as immunotherapy and chemotherapy. Immunotherapy is less harmful than chemotherapy, making it more acceptable for the elderly. In comparison to chemotherapy, immunotherapy produces a rapid and consistent response. Therefore, many unidentified patients in underserved areas certainly generate profitable prospects for market dealers.
However, growing consumer preference for generic medications and high costs associated with branded drugs to treat kidney cancer is projected to limit market expansion during the forecast period.
This research report on the APAC kidney cancer diagnostics and therapeutics market has been segmented and sub-segmented into the following categories:
Due to an increase in the number of patients with chronic diseases, the frequency of kidney cancer, and an increase in government inventiveness for expanding healthcare facilities in the region, Asia Pacific is predicted to have the fastest revenue growth. According to GLOBOCAN 2018, China and Japan are the two most important nations in Asia for kidney cancer cases. These countries had among the highest rates of kidney cancer in the world. Furthermore, the International Agency for Research on Cancer estimates that 148,947 new kidney cancer cases were diagnosed in Asia in 2018, with a mortality rate of 79,149 cases. With the rising incidence of kidney cancer, future generations will benefit from more accessible, inexpensive, and diagnosis-related kidney cancer treatment. The growth is forecasted to be driven by technological advancements in devices, increased healthcare spending, and increased demand for blood chemistry tests for kidney cancer diagnosis. As a result of the factors, the Asia-Pacific kidney cancer treatments and diagnostics market is predicted to rise significantly over the forecast period. The aging population, poor diet, and obesity contribute to an increase in kidney cancer cases in China. In addition, cigarette smoking is widespread, adding to the country's burden. Rising awareness of kidney cancer detection and treatment and expanding R&D initiatives are expected to drive market growth in the country.
KEY MARKET PLAYERS:
Companies playing a significant role in the APAC kidney cancer diagnostics and therapeutics market profiled in this report are GlaxoSmithKline, Bayer, Pfizer, Sanofi S.A, Hoffmann La Roche, Novartis, and Abbott Laboratories.
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