Lower Pricing Emerges as Key Strategy to Companies to Remain Dominant in Global Kidney Cancer Market
The of drugs available in the global kidney cancer drugs market are Inlyta (Axitinib), Torisel (Temsirolimus), Afinitor (Everolimus), Votrient (Pazopanib), Avastin (Bevacizumab), Nexavar (Sorafenib), Sutent (Sunitinib), and Proleukin (Aldesleukin/Interleukin-2). Most of these drugs are used for treating renal cell carcinoma (RCC) and transitional cell carcinoma (TCC). These drugs are used in conjunction with surgeries to treat the metastatic type of kidney cancer. Such targeted therapies work at cellular levels, which helps in delivering accurate results with lesser toxicity. Thus these drugs are known to prolong life for patients suffering from advanced stage metastatic tumor.
Q. What is driving the global kidney cancer drugs market?
A. The global market has been witness an upsurge in the sales of drugs due to several reasons. The primary growth driver for the global market is the gigantic pool of geriatrics across the globe, who are susceptible to kidney cancer as compared to the younger population. The market is also anticipated to benefit as approvals for novel drug molecules are pouring in for manufacturers.
Q. Which is the leading drug in the global market?
A. Analysts predict that GSK’s Votrient is expected to lead the global market by 2017 due to its high penetration in the health care sector and its competitive pricing. The drug is expected to grow at a CAGR of 5% between 2016 and 2020. On the other hand, Sutent has also done remarkably well for itself in the global kidney cancer drug market. This drug is often prescribed as the initial line of treatment for treating kidney cancer as it targets multiple receptor tyrosine kinases (RTKs). Its component, Sunitinib, was approved by the U.S. FDA for treating gastrointestinal stromal tumor (GIST) and RCC.
Q. Who are the leading players in the global market?
A. The competitive landscape of the global kidney cancer drugs market is high consolidated. Some of the leading players operating in the global market are Novartis AG, F. Hoffmann-La Roche Ltd., Bayer AG, Pfizer, Inc., and GlaxoSmithKline plc. The report indicates that Pfizer, Inc. has a leading share in the global market due to a high uptake of its drugs Sutent (Sunitinib) and Inlyta (Axitinib). Analysts predict that these dynamics are expected to change as several leading companies such as GSK and Novartis are strategizing their expansion in emerging economies of the Middle East, Latin America, and Asia Pacific in the coming few years.
Going forward companies such as GSK are anticipated to reach out to developing countries by lowering the prices of their drugs. In tandem with this motive, the company announced in March 2016 that it is expected to sign an agreement with a U.N back organization, Medicines Patent Pool, to support generic drug manufacturers to obtain relevant licenses to produce drugs. Such efforts are expected to not only expand the geographical reach of companies but also help them reach out to the needy and changing the outlook towards disease management.