Bayer and Onyx Pharmaceuticals have jointly developed and commercialized sorafenib (Nexavar). Sorafenib is a kinase inhibitor drug with FDA approval for the treatment of various types of cancers. Sorafenib is mainly used to treat kidney cancer (advanced renal cell carcinoma), advanced primary liver cancer (hepatocellular carcinoma), FLT3-ITD positive AML and radioactive iodine resistant advanced thyroid carcinoma. Global Sorafenib Market was valued at just under USD 1,075 million in 2019 and is expected to reach over USD 1,185 million in 2027, growing at a CAGR of over 4.69% during the forecast period.
By type, global Sorafenib market is segmented into Capsule and Tablet. In 2019, global Sorafenib market was dominated by tablet segment with over 50% share in total revenue generation. It is also expected to be one of the fastest growing segments over the forecast period and maintain its dominance. With increasing incidences of kidney and liver cancer, the demand for sorafenib I likely to grow in the years to come.
Global Sorafenib market is segmented on the basis of applications such as Hospital Pharmacy, Retail Pharmacy and Online Pharmacy. Hospital pharmacy segment dominated the global sorafenib market with over 45% share in 2019. Retail pharmacy also accounted for significant share in 2019. However, online pharmacy segment is likely to grow at rapid pace over the forecast period. Despite of approval from FDA, sorafenib has not yet used us main drug for the treatment of cancer. It is more likely used as a combination medication along with other mainstream drugs.
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North America dominated the global Sorafenib market in 2019 with over 35% share in total revenue generated by this industry. North America is closely followed by the Europe. However, with rising healthcare expenditure and growing awareness among people regarding healthcare is likely to drive growth of the Sorafenib market at rapid pace in Asia Pacific.
Major players in global Sorafenib market include but not limited to Pfizer, Allergan, Alnylam Pharmaceuticals, Acceleron Pharma, Biocon, Bionomics, CASI Pharmaceuticals, Celgene Corporation, Enzon Pharmaceuticals, Five Prime Therapeutics, Fujifilm Kyowa Kirin Biologics, Genentech, Genexine, Hetero Drugs, ImClone Systems, Intas Pharmaceuticals, Levolta Pharmaceuticals and Mabtech. The global Sorafenib market is highly concentrated with top six players accounting for just over 45% share in the global market.
Sorafenib Market by Type, 2015 – 2027 Volume (Tons) and Revenue (USD Million)
Sorafenib Market by Application, 2015 – 2027 Volume (Tons) and Revenue (USD Million)
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
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Sorafenib Market by Region, 2015 – 2027 Volume (Tons) and Revenue (USD Million)
- United States
- South Korea
- Southeast Asia
Middle East and Africa
- Saudi Arabia
- South Africa
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Sorafenib Market by Company, 2018 – 2019 Volume (Tons) and Revenue (USD Million)
- Alnylam Pharmaceuticals
- Acceleron Pharma
- CASI Pharmaceuticals
- Celgene Corporation
- Enzon Pharmaceuticals
- Five Prime Therapeutics
- Fujifilm Kyowa Kirin Biologics
- Hetero Drugs
- ImClone Systems
- Intas Pharmaceuticals
- Levolta Pharmaceuticals
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