Global Advanced Renal Cell Carcinoma Treatment Market Highlights over 2022 – 2031
The global advanced renal cell carcinoma treatment market is estimated to grow at a notable CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the rising prevalence of kidney cancer amongst the population across the globe. Family history of renal cancer is the biggest cause of cancer, along with high blood pressure, smoking, and acquired gene mutations. Although renal cell carcinoma is a rare disorder, its complex diagnosis makes this disease difficult to treat. According to the data by the World Health Organization, nearly 10 million deaths were caused by cancer in 2020. Moreover, the increasing awareness amongst the people regarding early diagnosis and treatment of cancer, is estimated to boost the market growth. In addition to this, the rising healthcare expenditure is bound to encourage the market growth over the forecast period. As per the statistics by the World Bank, 9.856% of the global GDP was spent on healthcare in 2018.
The market is segmented by end-user into hospitals, cancer research institutes, ambulatory surgical centers, and others, out of which, the hospital segment is anticipated to hold the notable share in the global advanced renal cell carcinoma treatment market over the forecast period on account of increasing patient pool at hospitals, backed by the higher acceptance of hospitals. Patients prefer hospitals over surgical centers, as hospitals provide a wider range of treatment possibilities, which is estimated to boost the segment growth. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Advanced Renal Cell Carcinoma Treatment Market Regional Synopsis
On the basis of geographical analysis, the global advanced renal cell carcinoma treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of large number of cancer patients in the region, along with the improving regional healthcare sector.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the high prevalence of renal cell carcinoma and other cancers in the region. According to the estimates of American Cancer Society, in 2022, about 79,000 new cases of kidney cancer are expected to be diagnosed, out of which, 50,290 cases in men and 28,710 in women will be diagnosed. Along with this, close to 13,920 deaths are anticipated to be caused by kidney cancer.
The global advanced renal cell carcinoma treatment market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global advanced renal cell carcinoma treatment market includes the following segments:
By Therapy Type
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The growing incidences of kidney cancer is estimated to boost the market growth.
The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2022 – 2031.
The North America region is anticipated to provide more business opportunities over the forecast period on the back of increasing prevalence of cancer in the region.
The major players in the market are Novartis AG, Merck & Co. Inc., Immatics Biotechnologies GmbH, Eisai Co., Ltd., Chugai Pharmaceuticals Co., Ltd., Bristol-Myers Squibb Company, AVEO Pharmaceuticals Inc., and Bayer AG, amongst others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by therapy type, end-user, and by region.
The hospital segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
Difficulty in diagnosis of kidney cancer and lack of proper healthcare facilities in some regions, are estimated to hamper the market growth.
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