Advanced Renal Cell Carcinoma Treatment Market Trends

Growth Drivers

• Growing Proportion of Geriatric Population– The term "geriatric population" refers to those who are 60 years of age or older. Getting older causes a progressive decline in physical and mental capacity, as well as an increased chance of disease and, eventually, death. Therefore, the growing proportion of the geriatric population is estimated to boost the market growth of advanced renal cell carcinoma treatment over the forecast period. Based on the World Health Organization statistics, by 2050, the world's population of adults aged 60 and above is estimated to be doubled (2.1 billion). The count of people aged 80 and more is predicted to triple between 2020 and 2050, reaching 426 million.

• Worldwide Increasing Ratio of Smoking – For instance, the worldwide annual consumption of cigarettes is close to 6 trillion, which results in more than 9 million deaths and about USD 2.5 trillion in economic losses.

• An Upsurge in Hypertension Cases – As per a report, globally, an estimated 1.28 billion persons aged 30-79 years have hypertension, with the majority (two-thirds) living in low- and middle-income nations.

• Worldwide Increasing Healthcare Expenditure – Ascribed to the World Bank statistics, worldwide healthcare expenditure has increased from 9.4% in 2014 to 9.83% in 2019. 

• Novel Drugs and Therapeutic Approaches for Advanced Renal Cell Carcinoma – There are several types of research regarding novel drug discoveries and therapies that have been conducted to combat the fatalities of renal cell carcinoma. These novel cancer therapeutics drugs are such a boon that help a lot of individuals survive the deadly effects of renal cell carcinoma. For instance, Tyrosine kinase inhibitors, immune checkpoint inhibitors, and mTOR signaling inhibitors are presently authorized treatments for renal cell carcinoma (RCC). The development of drugs that target MET and hypoxia-inducible factor 2 as a result of a better understanding of the biology of clear cell and non-clear cell RCC, as well as current developments into the possibility of targeting immune pathways other than programmed death ligand 1 or cytotoxic T lymphocyte-associated protein 4 checkpoints. The research of combination treatments and an effort to employ a risk-adapted approach in treatment are two areas where drug development in RCC is evolving.

Challenges

• A Dearth of Technological Innovations in Genome Sequencing in Emerging Nations – There is a significant dearth of technological innovations in genome sequencing in developing nations. These emerging nations have limited human development, followed by very limited resources for genome sequencing. Therefore, genomic techniques, particularly genome sequencing technologies, which are becoming increasingly important, are not usually available in these countries. Hence, this factor is estimated to lower the growth of the market in the projected time frame.

• Extreme Cost of Treatment of Renal Cell Carcinoma

• Lack of Healthcare Infrastructure in Emerging Nations