The sorafenib global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Sorafenib Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The sorafenib market size has grown steadily in recent years. It will grow from $1.19 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to favorable government policies and reimbursement programs, increasing approvals for new drugs, increasing apoptosis in cancer cells, rising incidence of target cancers, and growing research studies on sorafenib.
The sorafenib market size is expected to see steady growth in the next few years. It will grow to $1.47 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to the increasing incidence of thyroid cancer, increasing incidence of cancer, increase in prevalence of chronic diseases, increasing focus on precision medicine, and rising incidence of liver and renal cancers. Major trends in the forecast period include advancements in early diagnosis and treatment, innovations in alternative therapies, advanced hepatocellular carcinoma (HCC), technological innovations in drug delivery, and advanced renal cell carcinoma.
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Scope Of Sorafenib Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Sorafenib Market Overview
Market Drivers –
The increasing prevalence of cancer is expected to propel the growth of the sorafenib market going forward. Cancer is a term used to describe a group of disorders in which abnormal cells grow and divide uncontrollably, with the potential to invade and harm healthy bodily tissue. The increasing prevalence of cancer is due to a combination of factors, including aging populations, lifestyle choices, environmental exposures, and advances in diagnostic technology that lead to more cases being detected. Sorafenib, a multi-kinase inhibitor, plays a crucial role in cancer treatment by targeting key signaling pathways involved in tumor growth and angiogenesis, providing an effective therapeutic option for patients with advanced renal cell carcinoma and hepatocellular carcinoma. For instance, in January 2023, according to the National Center for Biotechnology Information, a US-based intergovernmental organization, around 1,958,310 new cancer cases and 609,820 cancer deaths occurred in 2023. Therefore, the increasing prevalence of cancer is driving the growth of the sorafenib market.
Market Trends –
Major companies operating in the sorafenib market are focusing on developing innovative products, such as sorafenib tablets in affordable generic medicines, to enhance efficacy and patient compliance while addressing specific needs in cancer treatment. Affordable generic medicines are medications that offer the same therapeutic benefits as brand-name drugs but at significantly lower prices. These medicines help reduce healthcare costs while maintaining the same clinical efficacy as their brand-name versions. For instance, in June 2022, Dr. Reddy’s Laboratories, an India-based company that manufactures pharmaceuticals, launched Sorafenib tablets, a generic product used in the treatment of various cancers, in the US market approved by the US Food and Drug Administration (USFDA). This product is a generic version of Bayer’s Nexavar, used for treating various cancers, including liver, kidney, and thyroid. The Sorafenib tablets are available in 200 mg dosages and are packaged in bottles containing 120 tablets.
The sorafenib market covered in this report is segmented –
1) By Product: Patented Drugs, Generic Drugs
2) By Distribution Channel: Hospital Pharmacies, Drug Store And Retail Pharmacies, Online Pharmacies
3) By Application: Kidney Cancer, Liver Cancer, Thyroid Cancer
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Regional Insights –
North America was the largest region in the sorafenib market in 2023. The regions covered in the sorafenib market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the sorafenib market are Pfizer Inc., Bayer AG, AstraZeneca PLC, Novartis AG, Bristol Myers Squibb , Mylan N.V., Teva Pharmaceutical Industries Ltd., Astellas Pharma Inc., Amgen Inc., Cipla Limited, Hikma Pharmaceuticals PLC, Dr. Reddy’s Laboratories Ltd., Exelixis Inc., Natco Pharma, Beacon Pharmaceuticals Ltd., Hetero Healthcare Ltd., Aprazer Healthcare Private Limited, Wellona Pharma, Anant Pharmaceuticals Pvt. Ltd., Intelicure Lifescience
Table of Contents
1. Executive Summary
2. Sorafenib Market Report Structure
3. Sorafenib Market Trends And Strategies
4. Sorafenib Market – Macro Economic Scenario
5. Sorafenib Market Size And Growth
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27. Sorafenib Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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