The global sorafenib market size reached US$ 1,131.30 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,217.40 Million by 2028, exhibiting a growth rate (CAGR) of 1.06% during 2023-2028. The increasing incidence of cancer, rising awareness among the masses regarding early cancer detection and treatments, and the recent development of biomarker-guided treatment represent some of the key factors driving the market.
Sorafenib refers to an oral multi-kinase inhibitor drug that is used in the targeted treatment for carcinoma. It exhibits a dual mechanism of action by blocking the rapidly accelerated fibrosarcoma (RAF) kinase pathway, which prevents the spread of cancer and reduces tumor growth. Sorafenib is widely used in targeted and combination therapies to treat hepatocellular carcinoma (HCC), renal cell carcinoma (RCC), differentiated thyroid carcinoma, and non-small cell lung cancer. It is a highly lipophilic compound that easily spreads across tissues, deeply penetrates cell membranes, and reaches its target more effectively. Sorafenib also provides anti-proliferative and anti-angiogenic properties, which aid in disrupting cancer cell progression, inhibit the growth of tumor blood vessels, and restrict access to essential resources required for tumor proliferation.
Sorafenib Market Trends:
The increasing incidence of cancer across the globe due to genetics, sedentary lifestyle, and unhealthy eating habits is one of the primary factors providing an impetus to the market growth. Sorafenib is a highly effective medication used to treat liver, kidney, and thyroid cancer by reducing tumor angiogenesis and increasing apoptosis in cancer cells. In addition to this, the growing demand for novel therapies that are more effective and offer minimum side effects is acting as another growth-inducing factor. Furthermore, the rising awareness among the masses regarding early cancer detection and treatments to improve outcomes, prolong survival, and reduce future complications is strengthening the market growth. Additionally, the recent development of biomarker-guided treatment, which involves identifying specific biomarkers that can predict a patient’s response to sorafenib, thus improving treatment effectiveness and enhancing overall survival rate, is positively influencing the market growth. Apart from this, the utilization of a nanoparticle-based drug delivery system, which improves sorafenib stability and bioavailability, is supporting the market growth. Besides this, the introduction of generic variants of sorafenib that are cost-effective and easily accessible to patients from different income groups is propelling the market growth. Moreover, the implementation of supportive policies by several governments to spread awareness regarding cancer and its treatments and provide access to high-quality healthcare facilities is contributing to the market growth. Other factors, including rising geriatric populations, growing healthcare expenditure, extensive research and development (R&D) activities, and increasing approvals for new drugs, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global sorafenib market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on type and application.
- Patented Drugs
- Generic Drugs
The report has provided a detailed breakup and analysis of the sorafenib market based on the type. This includes patented and generic drugs. According to the report, patented drugs represented the largest segment.
- Kidney Cancer
- Liver Cancer
- Thyroid Cancer
A detailed breakup and analysis of the sorafenib market based on the application has also been provided in the report. This includes kidney cancer, liver cancer, and thyroid cancer. According to the report, kidney cancer accounted for the largest market share.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for sorafenib. Some of the factors driving the North America sorafenib market included the rising prevalence of cancer, the implementation of supportive government policies, and enhanced focus of research and development (R&D) activities.
The report has also provided a comprehensive analysis of the competitive landscape in the global sorafenib market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Bayer AG, Cipla Limited, Hetero Healthcare Limited, NATCO Pharma Limited, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
||Patented Drugs, Generic Drugs
||Kidney Cancer, Liver Cancer, Thyroid Cancer
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Bayer AG, Cipla Limited, Hetero Healthcare Limited, NATCO Pharma Limited, etc.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the global sorafenib market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global sorafenib market?
- What is the impact of each driver, restraint, and opportunity on the global sorafenib market?
- What are the key regional markets?
- Which countries represent the most attractive sorafenib market?
- What is the breakup of the market based on the type?
- Which is the most attractive type in the sorafenib market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the sorafenib market?
- What is the competitive structure of the global sorafenib market?
- Who are the key players/companies in the global sorafenib market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the sorafenib market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global sorafenib market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the sorafenib industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.