Liver Cancer Therapeutics Market Size Share Growth Insights
Liver cancer begins in the liver cells. It is a chronic, life-threatening, and progressive disorder that begins in the cells of the liver. Liver cancer can be of different types, such as cancer that begins in hepatocyte cells, known as primary hepatic cancer, and cancer that spreads to the liver from other parts of the body, known as metastatic cancer.
Market Size Growth Rate:
According to the DataM market research report, the global liver cancer therapeutics market size was valued at USD billion in 2021, it is projected to reach USD billion by 2029, with growth at a CAGR of 9% over the forecast period 2022-2029.
The global liver cancer therapeutics market is expected to rise at a solid pace in the next couple of years with solid competition among players and the rising cases of malignant malady. Nimble players are already seen taking the collaboration route for developing therapies and drugs. This would likely make the global liver cancer therapeutics market crowded with new products in the next couple of years.
Market Drivers:
Increasing collaborations in developing new therapeutics for liver cancer will drive market growth. For instance, in January 2020, Sirnaomics and Innovent Biologics Inc. entered into a collaboration agreement to conduct clinical studies on RNAi drug candidate STP705 and the drug Tyvyt as a combination in treatment against advanced liver cancer such as HCC. Therefore, with the help of strategic collaborations among the industry players, liver cancer research and development has reached new heights, subsequently contributing to an increase in its market size.
Market Restraints:
However, many side effects are inconvenient or upsetting but are not harmful to health. But some side effects have severe medical conditions. Side effects can vary from person to person and from treatment to treatment, to the extent that two people receiving the same treatment may experience very different side effects. Side-effects such as radiation therapy can bring hair loss (sometimes called alopecia) to the part of the body receiving radiation. At the same time, chemotherapy can lead to hair loss in the head, scalp, and other body parts. Various chemotherapy medications can cause several types of hair loss or no hair loss at all. Hair loss usually happens within two weeks of treatment, worsening over the first month or two of ongoing treatment.
Market Opportunities:
Governments are hell-bound to find a cure for liver cancer. For this, they are investing a massive amount in the development of therapeutic centers, hospitals, cancer centers, and cancer research institutes. Also, governments are investing their resources in the development and implementation of new technologies that can boost drug development for liver cancer. These improvements in healthcare infrastructure also boost the demand for new liver cancer therapeutics which is a lucrative opportunity responsible for the growth of the global market.
COVID-19 Impact Analysis:
According to a research article by Hidenori Toyoda et al., published in Hepatology Communications Journal 2020, during the COVID‐19 pandemic 2020, strict measures were implemented by the government to prevent the spread of COVID-19, which adversely affected the routine monitoring of chronic liver diseases such as hepatocellular carcinoma (HCC). Therefore, these patients were considered in the emergency category during the pandemic. Besides, the increased sales of cancer products will foster healthy growth of the market amid COVID-19. As a result of these barriers, 73% of the clinical trial investigators surveyed reported that they were avoiding or planning to avoid immunosuppressive treatment regimens, while 64% were shipping or planning to ship oral drugs directly to patients’ homes.
Pharmaceutical businesses are using technology such as telecommunication, mobile applications, webinars, and other forms of digital media to satisfy the needs of patients during the pandemic. detailing is one such program that promotes coordination between healthcare practitioners and patients, hence improving relationships.
Download Our Sample Report @ https://www.datamintelligence.com/download-sample/liver-cancer-therapeutics-market
Recent Developments in the Industry:
- On November 9, 2018, Merck & Co. Inc.’s blockbuster cancer medicine Keytruda was approved by the U.S. Food and Drug Administration for treating a common type of liver cancer for which limited treatment options exist. Companies are undergoing collaborations and partnerships to develop new products.
- On November 27, 2020, Exelixis, Inc. announced that Takeda Pharmaceutical Company Limited (Takeda), its partner responsible for the clinical development and commercialization of CABOMETYX (cabozantinib) in Japan, received approval from the Japanese Ministry of Health, Labor and Welfare to manufacture and market CABOMETYX as a treatment for patients with unresectable hepatocellular carcinoma (HCC) that has progressed after prior systemic therapy.
Market Segmentation:
As per the research analysis, the global liver cancer therapeutics market is segmented by type hepatocellular carcinoma, cholangiocarcinoma, hepatoblastoma, and others. By therapy into targeted therapy, radiation therapy, immunotherapy, and chemotherapy. By equipment, the market is further segmented into computed radiography, MRI, sonography, and others. By end users into hospitals, clinics, and ambulatory surgical centers.
- On the basis of type, the cholangiocarcinoma segment is estimated to grow at the highest CAGR of XX% during the forecast period (2022-2029). Bile duct cancer is rare, and can affect inside the liver (intrahepatic) and outside the liver (extrahepatic). The number of cases reported is lower. However, overall, the growth seems to be higher, as several patients with cancers are misdiagnosed with other types of cancers. As per the American Cancer Society, the disease is found to be most common among Southeast Asian countries, due to parasitic infection, which can cause cancer in the bile duct region of the human body. For instance, according to the American Cancer Society’s 2018 report, around 8,000 people in the U.S. are diagnosed with cholangiocarcinoma to each year. This includes both intrahepatic (inside the liver) and extrahepatic (outside the liver) bile duct cancers.
- Based on therapy, the radiation therapy segment accounted for the largest market share of around XX% in 2020 and is expected to grow at a CAGR of XX% during the forecast period (2022-2029). Radiation therapy (also called radiotherapy) is a cancer treatment that uses high doses of radiation to kill cancer cells and shrink tumors. As per the Centers for Disease Control and Prevention (CDC), the geriatric population that includes patients with serious underlying medical conditions, including people with liver disease, might be at higher risk for severe illness from COVID-19. Patients with hepatocellular carcinoma (HCC), which occurs most often in people with chronic liver diseases, such as hepatitis B or hepatitis C, are at higher risk for severe COVID-19 than those without hepatocellular carcinoma.
Geographical Classification:
The global liver cancer therapeutics market is segmented into major countries including North America, Europe, South America, Asia Pacific, and the Middle East, and Africa.
North America Liver Cancer Therapeutics Market:
The increasing prevalence of liver cancer is expected to drive the liver cancer therapeutics market in the forecast period. For instance, In Canada, cancer is still the leading cause of death. About 2 in 5 Canadians will be diagnosed with cancer in their lifetime, and about 1 in 4 will die from it. An estimated 229, 200 Canadians will be diagnosed with cancer in 2021, with 84,600 dying from it. According to studies, In 2021, 3,300 Canadians were diagnosed with liver cancer. Liver cancer will claim the lives of 1,600 Canadians. A total of 2,600 men will be diagnosed with liver cancer, with 1,300 dying.
The liver cancer therapeutics market in Asia is projected to expand at a high CAGR during the forecast period, owing to rapidly growing liver cancer patients in densely populated countries such as India, China, and Hong Kong, improving health care infrastructure. During the forecast period, the high prevalence of secondary metastatic cancer in the region is one of the key driving factors for the liver cancer therapeutics market in the Asia Pacific.
Competitive Analysis:
The global liver cancer therapeutics market is highly competitive with the presence of major players. The Collaborations for development, broader product portfolios, and regional expansion in emerging markets are key strategic undertakings of these companies to increase their market share. The market is expected to grow increasingly crowded with several product launches during the forecast period.
Major Companies:
Some of the key players which are contributing to the growth of the market include Amgen, Pfizer Inc., Bristol‑Myers Squibb Company, Eisai Co., Ltd., Exelixis Inc, Merck & Co. Inc., Bayer AG, F. Hoffmann-La Roche Ltd, and Celgene Corporation among others.
Related Reports on Cancer Market:
Epithelial Ovarian Cancer Market
Additional Benefits Post Purchase:
1) Unlimited Analyst support for a period of 1 year.
2) Any query with regards to the scope offered will be addressed within 24- 48 hours.
3) An excel sheet with market numbers will be provided separately.
The Full Report has the below insights:
- The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
- Visualize the composition of the global liver cancer therapeutics market segmentation by type, therapy, equipment, end user, and region highlighting the key commercial assets and players.
- By Type: Hepatocellular Carcinoma, Cholangio Carcinoma, Hepatoblastoma, Other
- By Treatment: Chemotherapy, Immunotherapy, Targeted Therapy, Radiation Therapy
- By Equipment: Computed Radiography, MRI, Sonography, Others
- By End User: Hospitals, Clinics, Ambulatory Surgical Centers
- By Region: North America, South America, Europe, Asia Pacific and the Middle East, and Africa
- Identify commercial opportunities in the global liver cancer therapeutics market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as porter’s five forces analysis, supply chain analysis, pricing analysis, regulatory analysis, reimbursement analysis, and unmet needs, etc.
- Excel data sheet with thousands of data points of global liver cancer therapeutics market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
- The report will provide access to approximately 50+ market data tables, 40+ figures, and close to 180 pages.
About Us:
DataM Intelligence 4Market Research is a market intelligence platform that gives access to syndicated, customized reports and consulting to its clients in one place. As a firm with rich experience in research and consulting across multiple domains, we are a one-stop solution that will cater to the needs of clients in key business areas. DataM Intelligence has an online platform whose coverage includes industries such as chemicals and materials, agriculture, health care services, animal feed, and food & beverages among others. Our platform has Insights into markets that uncover the latest market research data that are distinct from the competition. With coverage across 10 major industries in the marketplace research, DataM Intelligence benefits thousands of companies by helping them take their innovations early to the market by providing a complete view of the market with statistical forecasts. Our strategy-centric framework and value-added services will let individuals and corporates ease of access and custom personalization to research and markets.
Media Contact:
Name: Sai Kiran
Company: DataM Intelligence
Contact No: +1 8774414866
Email us: info@datamintelligence.com