Liver Cancer Therapeutics Market to Cross USD11 billion by 2025 | TechSci Research
Increasing prevalence of liver cancer and introduction of new targeted therapies to drive global liver cancer therapeutics market through 2025.
According to TechSci Research report, “Global Liver Cancer Therapeutics Market By Cancer Type, By Therapy, By Equipment, By Age, By Factors, By Route of Administration, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2025”, the global liver cancer therapeutics market is projected to surpass USD11 billion by 2025 owing to factors like increasing prevalence of liver cancer, rising alcohol consumption, and development of novel innovative therapeutic drugs. Liver cancer accounts for the fourth foremost reason for deaths associated with cancer around the world.
Unhealthy lifestyle such as excessive consumption of alcohol, frequent smoking, poor eating habits are some of the factors that increase the risk factors contributing to liver cancer. Apart from this, increase in incidences of HBV/HCV coinfection and cirrhosis are other common factors contributing to the rise in number of liver cancer cases across the world. Scientists around the world are working on research and development activities for creating novel treatments for liver cancer, which is expected to drive the market for liver cancer therapeutics over the next five years.
The liver cancer therapeutic market offers tremendous opportunities to develop breakthrough targeted therapies to meet the emerging needs of a large target population. Innovative treatment approaches, strong clinical pipeline therapeutic drugs, and combination regimes such as checkpoint inhibitors are anticipated to change the liver cancer therapeutic market in the coming years. However, high capital investment, stringent drug approval process, high research & development cost and adverse side-effects of cancer treatment medications are factors which might hinder the growth of liver cancer therapeutics market.
Browse 206 market data Figures spread through 191 Pages and an in-depth TOC on "Global Liver Cancer Therapeutics Market "
The global liver cancer therapeutics market is segmented based on cancer type, therapy, equipment, age, factors, route of administration, distribution channel and region. Based on cancer type, the market is segmented into hepatocellular carcinoma, cholangiocarcinoma, hepatoblastoma, angiosarcoma and liver metastasis. The hepatocellular carcinoma segment accounted for the largest market share in 2019 owing to its high prevalence, especially in Asian and African nations. Based on therapy, the market is segmented into chemotherapy and radiation therapy, immunotherapy, targeted therapy, and others. Among them, the chemotherapy & radiation therapy segment is anticipated to be the largest segment through 2025.
Based on the equipment, computed radiography is expected to dominate the global liver cancer market share as it possesses improved imaging capability, particularly in terms of spatial resolution and small detail detectability. Based on distribution channel, hospital pharmacies are anticipated to hold the largest market share of 55.83% by 2025 due to immediate accessibility of liver therapeutic drugs. In terms of region, North America holds the largest market share and is expected to continue dominance during the forecast period owing to high prevalence of liver cancer, high levels of awareness about the disease, availability of cancer therapeutic drugs, and well-established health care infrastructure in the region. Additionally, large base of pharmaceutical and biotechnology companies and rising adoption of technologically advanced diagnostic tools to enhance the global liver cancer therapeutic market during the forecast period.
Major players operating in the global liver cancer therapeutics market include Bayer AG, Alnylam Pharmaceuticals Inc., F. Hoffmann-La Roche AG, Bristol-Myers Squibb Company, Eisai Co., Ltd., Pfizer Inc., Exelixis, Inc., Merck, Celsion Corporation, Johnson & Johnson, Novartis International AG, Sanofi S.A., Eli Lilly and Company, Perkin Elmer, Sun Pharmaceutical Industries Ltd., AbbVie Inc., Amgen Inc., AstraZeneca, Philips Healthcare Pvt. Ltd and others. The market players are focusing on research and development activities to bring innovative treatments for fighting liver cancer. Moreover, government funding in various countries is also encouraging R&D activities, which is positively influencing the market across the globe.
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“Aging population, rising alcohol consumption and growing cases of HBV/HCV coinfection and cirrhosis are driving the global liver cancer therapeutics market. Nowadays, a variety of treatment options are available for liver cancer patients. However, increasing prevalence of different types of liver cancer demands even more effective and innovative drugs and treatment options. The stakeholders need to invest more in R&D activities for further expansion of their respective market shares and build a strong foothold, globally.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Liver Cancer Therapeutics Market By Cancer Type, By Therapy, By Equipment, By Age, By Factors, By Route of Administration, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of liver cancer therapeutics market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global liver cancer therapeutics market.
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