Liver Cancer Therapeutics Market size was valued at USD 3,478.70 million in 2021 and is estimated to reach at a compound annual growth rate (CAGR) of 11.70% over the forecast period 2022 to 2029.
Liver cancer is a chronic, life-threatening, and progressive disorder that begins in cells of the liver. The liver is the essential organ in the human body, located in the upper right of the abdomen beneath the right of the lungs. The liver essentially produces enzymes and bile to digest food. It also produces blood-clotting proteins and purifies the blood by removing harmful materials in it.
Report Regional Highlights:
Among all regions, followed by Europe, and the Asia Pacific, the North American liver cancer therapeutics market is the highest market for liver cancer therapeutics globally. The growth of the North American region is primarily led by the aspects such as the good healthcare infrastructure presence, and the rising aging populace.
The United States is controlling the North American region owing to the increased number of liver cancer patients on y-o-y and increasing demand for treatment for liver cancer. Followed by the US, the Canadian liver cancer therapeutics market is leading the global market. The major companies aim at R&D initiatives to grow innovative treatments for liver cancer.
The global, Europe market is the second-largest market after the North American region. The development of the Europe liver cancer therapeutics market is majorly increasing owing to increasing investments in the R&D of active therapeutic drugs. Furthermore, the focused drug therapy products control the market going forward.
The United Kingdom and Germany are major countries in the European market. The United Kingdom is dominating the liver cancer therapeutics market and is to continue over the forecast period. The market in France and Germany is anticipated to produce at the highest growth rate, due to the acquisition of innovative diagnostic equipment and the huge volume of pharma, and biotechnology players boosting the liver cancer therapeutics market demand.
The Asia Pacific shows a speedy growth rate in the global market, due to the rising old population. Additionally, a growing number of liver cancer incidences in Asia pacific economies is added boosting the global market in the Asia Pacific region. China is a hopeful economy for major companies in the market.
Besides, the Middle East and Africa, and Latin America are probably to show prominent growth rates in the global market over the forecast period 2022-2029. Rising investments and funds by the private and public companies in R&D in cancer treatment.
Liver Cancer Therapeutics Market Scope
By Type, By Therapy, By Equipment, By End-user, and By Region
Report Insights Covered
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.
Fastest Growing Region
Largest Market Share
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The liver cancer therapeutics market growth is driven by the increasing burden of liver cancer, improving research and development investments, generating novel therapies, and government initiatives to increase cancer awareness. The change in the current lifestyle has led to the exposure of a large population to certain risk factors that contribute to the liver cancer therapeutics market in the forecast period.
Increasing research and development activities will drive the market growth
Increasing research and development activities in developing new therapeutics for liver cancer will drive the market growth. For instance, National Clinical Trial (NCT) Registry 2020, the Hoffmann-La Roche Ltd., has started the phase Ib/II study to assess of efficacy and safety of the multiple immunotherapy-based treatment combinations with advanced liver cancer (Morpheus-Liver). The trial was started in November of 2020 and is expected to complete in July 2024.
In the United States, increasing research and development activities in developing novel therapeutics for the liver are expected to drive market growth in the forecast period. For instance, in May 2020, Food and Drug Administration (FDA) approved atezolizumab (Tecentriq) and bevacizumab (Avastin) as initial treatments for people with liver cancer that has spread or that can’t be treated with surgery.
Pharmaceutical companies are utilizing approaches to maintain the balance between supply and demand. For instance, the American Society of Clinical Oncology, the European Society of Medical Oncology, and the National Institute of Health and Care Excellence has proposed the guidelines. These factors are driving the market growth in the forecast period.
The rising burden of liver cancer across the globe is driving the market growth
The increasing incidence of liver cancer is expected to expedite the growth of the market during the forecast period. Alcohol & tobacco consumption, smoking, and environmental factors in developed nations are some of the reasons for the prevalence of cancer. The increasing urbanization is expected to bolster the healthy growth of the market in the forecast period.
According to the GLOBOCAN data, globally, in 2020, there were around 905,677 (4.7%) new liver cancer cases and 830,180 (8.3%) deaths due to liver cancer. Moreover, the high demand for therapeutic drugs for liver cancer will create wide opportunities for the market players to produce more drugs, and thereby, the market is expected to witness significant growth over the forecast period.
Side effects associated with certain medications coupled with the high cost of cancer treatment
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. Some experience side effects that arise during treatment and improve over time, which is the most common scenario. But some people experience severe side effects that last for months or even years after treatment is completed.
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.
COVID-19 Impact Analysis
According to the CDC, the senior population with underlying severe therapeutic conditions, including people with liver cancer, might be at higher risk for severe illness from COVID-19. Patients with hepatocellular carcinoma are at higher risk for severe COVID-19 than those without hepatocellular carcinoma.
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.
The Hepatocellular Carcinoma segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
Hepatocellular carcinoma is the typical type of liver cancer. It happens most often in people with chronic liver diseases, such as cirrhosis begun by hepatitis B or hepatitis C disease. The risk of hepatocellular carcinoma, the most basic type of liver cancer, is higher in people with long-term liver infections. It's also more eminent if the liver is scarred by disease with hepatitis B or hepatitis C. Hepatocellular carcinoma is more common in people who drink large amounts of alcohol and who have an increase of fat in the liver.
According to a research study by Giuliana Amadeo et al., printed in JHEP Reports Journal 2021, the study was carried in 6 referral centres in the metropolitan area of Paris, France, to assess the result COVID-19 pandemic on the supervision of patients with hepatocellular carcinoma (HCC). The study outcomes found that in a metropolitan area of Paris, hepatocellular carcinoma (HCC) patients were highly influenced by the COVID-19 pandemic.
Many key payers are developing new drugs for the cure of this disease. For instance, in August 2018, Eisai Inc. received U.S. Food and Drug Administration (FDA) approval for lenvatinib (Lenvima) for patients with unresectable hepatocellular carcinoma (HCC). Hence, the rising incidence of cancer and high unmet medical needs are the major factors that drive the segment growth over the forecast period.
The chemotherapy segment is expected to dominate the liver cancer therapeutics market during the forecast period
Chemotherapy is the use of anti-cancer medications used to treatment of cancerous cells. Chemotherapy has been done for many years and is one of the most prevalent cancer treatments. In most instances, chemotherapy works by preventing the cancer cell's ability to grow or multiply. Several groups of medications work in many ways to fight cancer cells. Chemotherapy may be used alone for some types of cancer or in sequence with other treatments such as radiation or surgery. Often, a mixture of chemotherapy drugs is used to fight particular cancer. Some chemotherapy drugs are given in a specific amount depending on the type of cancer used for treatment.
While chemotherapy can be quite efficient in treating specific cancers, chemotherapy medications reach all body parts. The carcinoma cells that cause may be many side effects during therapy.
The North American region holds the largest market share global liver cancer therapeutics market
North American region is dominating the global liver cancer therapeutics market and accounted for the largest market share in 2020, owing to the growing incidence of liver cancer, the presence of key market players, and the launch of new commodities influencing the market growth in the region.
According to the Centers for Disease Control and Prevention (CDC), the senior population with underlying severe therapeutic conditions, including people with liver disease, might be at higher risk for severe illness from COVID-19.
According to the American Society of Clinical Oncology estimates, there were around 42,220 adults diagnosed with liver cancer in the United States in 2018 (of which there are 30,610 men and 11,610 women). In addition, in 2020, there were around 42,810 new liver cancer cases in the United States 2020. The increasing cases of liver cancer in the United States, it is expected to raise the demand for liver cancer therapeutics to manage the disease.
The liver cancer therapeutics market is moderately competitive with the presence of local as well as global 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. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the liver cancer therapeutics market globally.
Overview: Amgen Inc. is an independent biotechnology medicines company that discovers, develops, manufactures, and markets medicines for grievous illnesses. The Company focuses solely on human therapeutics and concentrates on innovating novel medicines based on advances in cellular and molecular biology.
Product Portfolio: The Company’s portfolio is comprised of inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas.
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