Sorafenib is a l biaryl urea and an oral multikinase inhibitor. It targets cell surface tyrosine kinase receptors and downstream intracellular kinases that are implicated in tumor cell proliferation. 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. It is sold under the brand names Nexavar (Bayer) and Soranib (Cipla).
The occurrence of liver cancer is increasing very rapidly worldwide. This is mainly due to changing lifestyles and dietary habits. Sorafenib is one of the most effective drugs approved for the treatment of advanced liver cancer. This will increase the demand for sorafenib in the coming years. The awareness among patients and healthcare professionals about the sorafenib drug has increased over the years, which is one of the major drivers of its growth which led to an increase in its adoption as a treatment option for various types of cancer, including liver cancer.
A generic version of the drug is now available in the market, which has made it more affordable and accessible to patients from different income groups across the world. This will increase the sorafenib market share during the forecast period. However, the market players in the sorafenib segment have been faced with multiple patent issues and supply chain challenges over the last few years. In addition, inadequate targetability, and uncontrolled, drug release. and non-guided blood circulation are impacting the growth of the market.
Moreover, apart from treating liver cancer, the drug can be effectively used to treat thyroid cancer. Thyroid cancer has become one of the fastest-increasing cancers in recent years and is the sixth most common cancer in women. There are more than 213,000 new cases of thyroid cancer annually, and approximately 35,000 people die from thyroid cancer worldwide each year.
New product launches to flourish the market
In June 2022, Dr Reddy's arm and Olema Pharmaceuticals signed an exclusive collaboration and license agreement with the company's subsidiary Aurigene Discovery Technologies to discover and develop novel cancer therapies. Under the terms of the agreement, Olema will make an upfront licensing payment of $8 million for rights to a pre-existing Aurigene program. Aurigene will be eligible for up to $60 million in potential clinical development and regulatory milestones and up to $370 million in potential commercial milestones, as well as royalties ranging from the mid-single digits to the low double digits based on annual net sales. Similarly, in June 2022, Natco Pharma announced the launch of the first generic version of Nexavar (Sorafenib) Tablets in 200 mg strength in the US market today. The product will be launched by NATCO's commercial partner, Viatris, a global pharmaceutical company.
Segmental Overview
By Type: The Sorafenib market is segmented into two types, including patented drugs and generic drugs. Patented drugs are the new growth factor in the market for Sorafenib. The patent expiration of branded drugs is one of the major factors that has fueled growth in this market. Meanwhile, the generic drugs are not branded with any name, but they have the same medical effect as the branded drug. They work in a similar way to brand-name products but cost much less than the original one.
By Application: The application segment includes breast cancer, lung cancer, prostate cancer, and melanoma. Breast cancer accounted for the largest share owing to high incidence rates globally. According to the WHO, around 1 in 8 U.S. women get diagnosed with breast cancer each year, while about 2 million new cases were reported worldwide in 2012, and it was estimated that in 2022, over 2 million new cases will be reported every year worldwide. Also, about 462 thousand new male patients will be diagnosed with prostate cancer annually during the same period due to the rising number of male geriatric population bases as well as increasing awareness amongst people regarding the increase in early detection rates due to technological advancements coupled with growing healthcare expenditure globally, which may further result in higher market demand during the forecast period.
By Region: The sorafenib market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America dominated the global sorafenib market in 2021. The region is expected to continue its dominance over the forecast period owing to factors such as favorable reimbursement policies, high healthcare expenditures, and awareness regarding available treatment options. In addition, increasing incidence rates of cancer are also anticipated to boost demand for sorafenib in North America during the forecast period. The Asia Pacific is expected to witness lucrative growth over the next few years due to rising disposable income and improving healthcare infrastructure, coupled with a growing patient pool suffering from kidney cancer or liver cancer.
Competition analysis
This report includes a competitive analysis and profiles of major players in the Sorafenib market, Bayer AG, Cipla Ltd., Natco Pharma Ltd., Hetero Healthcare Ltd., Mylan NV and Dr Reddy's.
The occurrence of liver cancer is increasing very rapidly worldwide. This is mainly due to changing lifestyles and dietary habits. Sorafenib is one of the most effective drugs approved for the treatment of advanced liver cancer. This will increase the demand for sorafenib in the coming years. The awareness among patients and healthcare professionals about the sorafenib drug has increased over the years, which is one of the major drivers of its growth which led to an increase in its adoption as a treatment option for various types of cancer, including liver cancer.
A generic version of the drug is now available in the market, which has made it more affordable and accessible to patients from different income groups across the world. This will increase the sorafenib market share during the forecast period. However, the market players in the sorafenib segment have been faced with multiple patent issues and supply chain challenges over the last few years. In addition, inadequate targetability, and uncontrolled, drug release. and non-guided blood circulation are impacting the growth of the market.
Moreover, apart from treating liver cancer, the drug can be effectively used to treat thyroid cancer. Thyroid cancer has become one of the fastest-increasing cancers in recent years and is the sixth most common cancer in women. There are more than 213,000 new cases of thyroid cancer annually, and approximately 35,000 people die from thyroid cancer worldwide each year.
New product launches to flourish the market
In June 2022, Dr Reddy's arm and Olema Pharmaceuticals signed an exclusive collaboration and license agreement with the company's subsidiary Aurigene Discovery Technologies to discover and develop novel cancer therapies. Under the terms of the agreement, Olema will make an upfront licensing payment of $8 million for rights to a pre-existing Aurigene program. Aurigene will be eligible for up to $60 million in potential clinical development and regulatory milestones and up to $370 million in potential commercial milestones, as well as royalties ranging from the mid-single digits to the low double digits based on annual net sales. Similarly, in June 2022, Natco Pharma announced the launch of the first generic version of Nexavar (Sorafenib) Tablets in 200 mg strength in the US market today. The product will be launched by NATCO's commercial partner, Viatris, a global pharmaceutical company.
Segmental Overview
By Type: The Sorafenib market is segmented into two types, including patented drugs and generic drugs. Patented drugs are the new growth factor in the market for Sorafenib. The patent expiration of branded drugs is one of the major factors that has fueled growth in this market. Meanwhile, the generic drugs are not branded with any name, but they have the same medical effect as the branded drug. They work in a similar way to brand-name products but cost much less than the original one.
By Application: The application segment includes breast cancer, lung cancer, prostate cancer, and melanoma. Breast cancer accounted for the largest share owing to high incidence rates globally. According to the WHO, around 1 in 8 U.S. women get diagnosed with breast cancer each year, while about 2 million new cases were reported worldwide in 2012, and it was estimated that in 2022, over 2 million new cases will be reported every year worldwide. Also, about 462 thousand new male patients will be diagnosed with prostate cancer annually during the same period due to the rising number of male geriatric population bases as well as increasing awareness amongst people regarding the increase in early detection rates due to technological advancements coupled with growing healthcare expenditure globally, which may further result in higher market demand during the forecast period.
By Region: The sorafenib market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America dominated the global sorafenib market in 2021. The region is expected to continue its dominance over the forecast period owing to factors such as favorable reimbursement policies, high healthcare expenditures, and awareness regarding available treatment options. In addition, increasing incidence rates of cancer are also anticipated to boost demand for sorafenib in North America during the forecast period. The Asia Pacific is expected to witness lucrative growth over the next few years due to rising disposable income and improving healthcare infrastructure, coupled with a growing patient pool suffering from kidney cancer or liver cancer.
Competition analysis
This report includes a competitive analysis and profiles of major players in the Sorafenib market, Bayer AG, Cipla Ltd., Natco Pharma Ltd., Hetero Healthcare Ltd., Mylan NV and Dr Reddy's.
Sorafenib Market, by Type Report Highlights
| Aspects | Details |
 By Type |
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 By Application |
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 By Region |
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 Key Market Players | Bayer AG, Hetero Healthcare Ltd., Mylan Nv, Natco Pharma Ltd, Cipla Ltd |
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