Sorafenib Market Size By Product (Patented Drugs and Generic Drugs), By Application (Kidney Cancer, Liver Cancer, Thyroid Cancer, Other), By Geographic Scope And Forecast

Sorafenib Market Size And Forecast

According to Market Research, the Global Sorafenib Market was valued at USD 1.07 Billion in 2019 and is projected to reach USD 1.18 Billion by 2027, growing at a CAGR of 1.21% from 2020 to 2027.

This Global Sorafenib Market report? Think of it as a complete rundown of the market's future. We're diving deep, looking at different pieces of the puzzle and figuring out what's really shaping things. That means spotting the big trends and the things that could throw a wrench in the works. We'll break down the market dynamics – the things pushing the market forward (the drivers), holding it back (the restraints), where the growth potential is (the opportunities), and the hurdles we'll need to clear (the challenges). The drivers and restraints? Those are from the inside. Opportunities and challenges? They're coming from the outside. Overall, this Global Sorafenib Market study is about painting a clear picture of how much revenue we can expect to see as things move forward.

What is Sorafenib?

Sorafenib is a type of molecular targeted cancer drug that works by inhibiting multiple kinases thought to be involved in both cell proliferation (growth) and angiogenesis (blood supply). Sorafenib was initially developed to treat patients with unresectable hepatocellular carcinoma (HCC), patients with advanced renal cell carcinoma, and patients with locally recurrent or metastatic, progressive, differentiated thyroid carcinoma refractory to radioactive iodine treatment.

The oral kinase inhibitor drug is effective in regulating various protein kinases and signal transduction pathways including the signal transducer and activator of transcription 3 (STAT3), platelet-derived growth factor receptor (PDGFR), and vascular endothelial growth factor receptor 2 (VEGFR-2). Sorafenib is also been used in treating liver and thyroid cancer. The drug is used as a first-line treatment for advanced hepatocellular carcinoma (HCC).

However, sorafenib treatment has not been widely adopted into oncology practice since FDA approval in 2007. The drug is known to present several side effects including, hemorrhage, hypertension, dermatologic toxicities, cardiac ischemia and/or infarction, gastrointestinal perforation, drug-induced hepatitis, wound healing complications, and many others. Furthermore, as per various studies it has been observed that sorafenib tends to induce acquired resistance among patients that lowers its clinical importance in the field of cancer. Therefore, sorafenib is used as a combination therapy with other cytotoxic agents for HCC resulting in additive anticancer activity.

Global Sorafenib Market Overview

Cancer remains among the leading causes of death worldwide. The rate of new cancer patients is on a constant rise. Cancer is a significant public health issue and is now considered as a potentially chronic disease. Advancements in the early diagnosis and treatments have significantly improved the cancer survival rate.

Sorafenib is primarily used in the treatment of renal cancer (kidney cancer), thyroid cancer, and liver cancer. The incidence of thyroid cancer has been increasing over the last few decades according to epidemiological research findings. The incidence of thyroid cancer in higher-income countries has been considerably rising and the global age-standardized incidence rate of thyroid cancer increased by approximately 20%. Similarly, with the surge in the liver and kidney cancer cases, the demand for anti-cancer drugs such as sorafenib is expected to rise.

Scientists are unleashing the potential of nanotechnology to improve sorafenib’s targetability and bioavailability. Sorafenib-based nano delivery systems allow controlled release of the drug for better anti-tumor effects. Similarly, various research studies are underway incorporating the application of polymer micelles to enhance the antitumor effect of sorafenib. The development of polymer nanoparticles, micelles, and others are proving beneficial for drug delivery. Therefore, it can be suggested that the growing research studies on sorafenib to improve its bioavailability with fewer side effects present a great opportunity for the market over the forecast period.

However, there are several factors such as – acquired resistance, economic burden, adverse reaction, and others are limiting cancer patients to gain health benefits from Sorafenib. Also, the high price has been one of the major factors behind the limited use of Sorafenib. People find the high cost of Sorafenib does not justify enough benefit offered by the drug.

Furthermore, as Sorafenib is known to cause several side effects to the cancer patients receiving the drug, pharmaceutical manufacturing companies are busy developing new drugs or drug combinations that can potentially substitute Sorafenib in the future. The development of new drug treatment approaches poses a strong challenge to the Sorafenib sales

Global Sorafenib MarketSegmentation Analysis

The Global Sorafenib Market is segmented on the basis of Product, Application, and Geography.

Global Sorafenib Market by Product

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On the basis of Product, the Global Sorafenib Market has been segmented into Patented Drugs and Generic Drugs. Patented Drugs accounted for the largest market share in 2019. In the case of Sorafenib, in 2008 Bayer was granted a patent over Sorafenib Tosylate (marketed as Nexavar). This crucial drug for kidney and liver cancer was sold at a price that was not affordable in select regions, this factor, along with the general popularity of the drug propelled the growth of generic Sorafenib drugs, particularly in the Asia Pacific region.

Global Sorafenib Market by Application

Based on Application, the market is bifurcated into Kidney Cancer, Liver Cancer, Thyroid Cancer, Other. Kidney Cancer accounted for the largest market share in 2019 as Nexavar (sorafenib) has shown to be an effective treatment option for renal cell carcinoma (RCC), or kidney cancer. Researchers from Europe and the United States recently conducted a subgroup analysis of the Treatment Approach in Renal Cancer Global Evaluation Trial. This trial was a large clinical trial evaluating Nexavar in the treatment of advanced RCC.

Global Sorafenib Market by Geography

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On the basis of regional analysis, the Global Sorafenib Market is classified into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America dominated the Sorafenib market in 2019 owing to the high prevalence of liver cancer, early diagnosis of liver cancer, availability of cancer therapeutic drugs, high levels of awareness about liver cancer in the region. Also, the well-established health care infrastructure in this region is expected to contribute to the dominant share of North America in the global market.

Global Sorafenib Market Competitive Landscape

The “Global Sorafenib Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Bayer AG, Cipla, Natco Pharma, and Hetero Healthcare Ltd.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

Sorafenib Market Report Scope

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We dive deep into the market using both qualitative and quantitative methods, breaking it down by different segments based on economic and other factors. You'll get the market value in USD Billion for each of these segments and sub-segments. We'll also point out which region and segment we think will grow the fastest and be the biggest overall. Our analysis looks at each geographic area, showing where the product/service is consumed and what's influencing the market there. We size up the competition, ranking the top players and highlighting their new service/product launches, partnerships, expansions, and acquisitions over the last five years. Expect detailed company profiles with overviews, insights, product comparisons, and SWOT analyses for the key market participants. We'll give you a current and future view of the industry, considering recent happenings (like growth opportunities, drivers, challenges, and restraints) in both new and established regions. We also offer a thorough analysis using Porter's five forces and provide insight into the market through the Value Chain. We'll map out the market dynamics and growth opportunities for the future. And to top it off, you get 6 months of analyst support after your purchase.

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