The Asia-Pacific Kidney Cancer Therapeutics & Diagnostics Market is expected to register a CAGR of 4.1% during the forecast period. The major factors driving the growth of the market in the Asia region is due to the rising number of kidney cancer cases and increased R&D expenditure of the pharmaceutical companies.
According to GLOBOCAN 2018, the major countries contributing to kidney cancer cases in Asia are China and Japan. These countries were among the highest cases of kidney cancer worldwide. Furthermore, according to the International Agency for Research on Cancer, in 2018, there were about 148,947 new kidney cancer cases and the mortality was approximately 79,149 cases in Asia.
Furthermore, changes in lifestyle, excessive smoking, increased consumption of alcohol, and a rise in obesity because of sedentary life routines lead to the growing incidence of the disease. Thus, owing to the above factors the Asia-Pacific kidney cancer therapeutics & diagnostics market is expected to significant growth over the forecast period.
Key Market Trends
Renal Cancer Carcinoma is Expected to be the Largest Growing Segment in the Asia-Pacific Kidney Cancer Therapeutics & Diagnostics Market
Renal cell carcinoma (RCC) is a kidney cancer that originates in the lining of the proximal convoluted tubule in the kidney that transport primary urine. It is the most common type of kidney cancer. Renal cell carcinoma mainly affects the population who are older, usually between ages 50 and 70.
The factors that are driving the market that includes growing awareness among people about cancer, rising geriatric population, and rising incidence of renal cancer. As per Cancer Australia, in 2019, it was estimated that the age-standardized mortality rate due to kidney cancer was 3.3 deaths per 100,000 persons (4.7 for males and 2.1 for females) in Australia. The mortality rate for kidney cancer is expected to increase with age which shows a positive impact on the market. Thus, increasing cases of kidney cancer, the growing geriatric population along with that awareness about cancer are the major factors driving the segment and expected to do over the forecast period.
The Asia-Pacific Kidney Cancer Therapeutics & Diagnostics Market is moderately consolidated competitive. Product innovation and ongoing R&D activities to develop advanced technologies has helped in boosting the growth of the market. Some of the companies which are currently dominating the market are Bayer AG, F. Hoffmann-La Roche Ltd, Eisai.Co.Ltd, Novartis AG, Pfizer Inc, Abbott Laboratories, Amgen Inc, and Seattle Genetics.
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