Albany NY, United States: Liver cancer is a chronic, life threatening, and progressive disorder that begins in cells of liver.
Albany NY, United States: Liver cancer is a chronic, life threatening, and progressive disorder that begins in cells of liver. The liver is one of the largest vital organs in the body located at upper right abdomen beneath the right lung. The liver primarily produces enzymes and bile to digest food. It also produces blood clotting proteins and purifies the blood by removing harmful materials in it.
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- Liver cancer can be of different types such as the cancer which begins in hepatocyte cells known as primary hepatic cancer and the cancer which spreads to liver from other parts of the body. The later type of cancer is more common and is called as metastatic cancer.
- Most of the people do not show the symptoms at early stages of primary liver cancer but in later stages the common symptoms include loss of appetite, upper abdominal pain, abdominal swelling, weight loss, and nausea and vomiting
- Variety of treatment options are available for liver cancer which include radiation therapy, chemotherapy, immunotherapy, surgical resection of tumors, and targeted drug therapy
Liver Cancer Therapeutics Market: Key Drivers
- High prevalence and rise in incidence rates of liver cancer across the globe drives the liver cancer therapeutics market. For instance, according to world cancer research fund, liver cancer is 6th most common cancer across the globe. In 2012, more than 782,000 new cases of liver cancer were diagnosed worldwide.
- According to Cancer.net, in 2019, around 42,030 new cases of liver cancer are anticipated to be diagnosed and more than 31,780 deaths are expected to occur due to liver cancer in the U.S.
- High prevalence of metastatic cancer which spreads from other parts of body such as breast cancer, colon cancer, or lung cancer is likely to drive the liver cancer therapeutics market during the forecast period
- Development of novel innovative therapeutic drugs, strong clinical pipeline therapeutic drugs, increase in awareness among people across the globe, and favorable government support are likely to contribute to the growth of liver cancer therapeutics market
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Targeted Therapy Segment to Dominate Global Liver Cancer Therapeutics Market
- In terms of type of therapy, the global liver cancer therapeutics segment can be categorized into ablation therapy, embolization therapy, radiation therapy, targeted therapy, immunotherapy, and chemotherapy. The targeted therapy segment is estimated to dominate the global liver cancer therapeutics market during the forecast period.
- The targeted therapy is administered intravenously through blood and these drugs spread across the body and help kill cancer cells that are present in other parts of body. The targeted therapy most commonly comprises the use of tyrosine kinase inhibitors which inhibit the several kinase proteins that stimulate cancer cell growth.
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Secondary Liver Cancer Segment to Dominate Global Market
- In terms of type of cancer, the global liver cancer market can be classified into primary liver cancer and secondary liver cancer. The secondary liver cancer segment is estimated to dominate the global liver cancer therapeutics market in 2018 and is projected to continue its dominance throughout the forecast period from 2019 to 2027.
- The secondary liver cancer is also known as metastatic liver cancer. The secondary liver cancer is most common form of liver cancer than that of primary cancer. The secondary liver cancer starts from other parts of body such as pancreas, stomach, colon, breast, and lung.
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Intravenous Segment to Offer Attractive Opportunities
- Based on route of administration, the global liver cancer therapeutics market can be divided into oral and intravenous. The intravenous segment is anticipated to dominate the global market during the forecast period.
- The intravenous route is the most commonly preferred route of administration for chemotherapy and also, high osmolality drugs are administered through intravenous route by the health care professionals across the globe
Retail Pharmacies Segment to Offer Attractive Opportunities
- Based on distribution channel, the global liver cancer therapeutics market can be divided into hospital pharmacies, retail pharmacies, and online pharmacies. The retail pharmacies segment is anticipated to be the leading distribution channel of the global market during the forecast period.
- Easy availability of liver therapeutics drugs at retail pharmacy stores across the globe, large number of retail pharmacy chains, and key trend of tie-up of hospitals with these retail pharmacy chains are likely to contribute to the dominant share of retail pharmacies during the forecast period.
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Asia Pacific Liver Cancer Therapeutics Market to Expand Rapidly
- In terms of region, the global liver cancer therapeutics market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global market during the forecast period. However, the region is anticipated to lose market share by the end of 2027.
- High prevalence of liver cancer, early diagnosis of liver cancer, availability of cancer therapeutic drugs, high levels of awareness about the liver cancer in the region, and well- established health care infrastructure are expected to contribute to dominant share of North America in the global market. Moreover, early adoption of technologically advanced diagnostic tools and techniques for liver cancer in the region, and large base of pharmaceutical and biotechnology companies in the region are projected to fuel the growth of the liver cancer therapeutics market in the region during the forecast period.
- The liver cancer therapeutics market in Asia Pacific 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, and rapidly improving health care infrastructure
- High prevalence of secondary metastatic cancer in the region is one of the key driving factors for the liver cancer therapeutics market in Asia Pacific during the forecast period.
Key Players Operating in Global Market
The global liver cancer therapeutics market is highly consolidated with a few global players accounting for the majority of the market share.
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