New Jersey, NJ, Aug. 27, 2019 (GLOBE NEWSWIRE) -- Rising incidence of liver cancer and growing research activities for developing novel treatments. The global liver cancer treatment market is expected to grow from USD 513.59 Million in 2017 to USD 2,186.63 Million in 2025 at CAGR of 19.85% during the forecast period 2018-2025, according to the new report published by Fior Markets.
Hepatic or liver cancer is one of the most commonly prevalent types of cancer. About 40,710 people were diagnosed with liver cancers in 2017 and about 28,920 will die of the diseases, according to the National Cancer Institute. It is known for its aggressive nature and poor survival rate. Certain medical conditions such as Hepatitis B and C viral infections, type 2 diabetes, excess body weight, and liver cirrhosis are known to be the leading causes for the onset of liver cancer. Consumption of alcohol, tobacco is acknowledged to exponentially increase the risk of liver cancer. Thus, increasing research activities in the development of the novel drug and therapeutic systems are anticipated to propel the global liver cancer treatment market. Hepatocellular carcinoma, or primary liver cancer, tends to grow and expand at a fast rateif it is not detected early. This means that people who have been diagnosed with it may not survive longer than 10 to 11 months. The studies show that in the United States, hepatocellular carcinoma is the ninth leading cause of cancer-related deaths. To treat it, specialists will usually prescribe therapy with a drug called "sorafenib." But unfortunately, this drug can typically prolong survival by only 3 months, and it can have numerous adverse effects.
Factors such as rising incidence of liver cancer and growing research activities for developing novel treatments coupled with increasing government funding for the cancer treatment research are driving the global liver cancer treatment market. Whereas, high research and development cost, as well as stringent drug approval process and adverse side effects associated with cancer treatment medications, are projected to hamper the market growth.
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Key players in the global liver cancer treatment market are Bayer AG, Bristol-Myers Squibb Company, Eisai, Exelixis, Onyx Pharmaceuticals Inc, Alnylam Pharmaceuticals, Inc, Pfizer Inc, F. Hoffmann-La Roche Ltd., Jennerex Biotherapeutics Inc, Celsion Corp, ArQule Inc, 4SC AG, Schering Pharma AG, Merck Pharmaceuticals, and among others. FDA had approved Bayer's Stivarga to treat most common liver cancer. Stivarga is already in use to treat colorectal cancer in patients who previously had been treated with other therapies. Bayer is now also marketing it for patients with hepatocellular carcinoma (HCC), the most common form of liver cancer. Also, in an effort to improve liver cancer treatment, researchers from the Cancer Institute of Singapore at the National University of Singapore in Queenstown have come together with members from other global institutions to develop a new experimental drug, which they call FFW. This FFW according to scientist, could hinder the growth of primary liver cancer and could help reduce the unwanted effects of typical therapy.
- Growing use of immunotherapy drugs in the combination drug treatments is leading major drug manufacturers to develop and launch the newer medicines. For instance US FDA in 2018, provided it approval for the Keytruda an immunotherapy drug developed by the Merck. Keytruda enhances the natural response of the body against the malignant tumor.
- Growth government funding has provided a fillip for the cancer treatment research activities. For instance in 2019, UC San Francisco announced its successful lab experiment to beat the aggressive liver cancer. Traditionally, targeted cancer therapies aim to disable proteins borne of cancer-causing genes. Instead, the UCSF scientists prevented these proteins, from being built in the first place.
Target therapy segment had a market value of USD 225.26 million revenue in 2017.
Therapeutic class is segmented into targeted therapy, immunotherapy and chemotherapy. As Nexavar, a targeted therapy drug is the only approved targeted therapeutic treatment that is available for the treatment of the advanced stage liver cancer, the targeted therapy segment emerged as the largest segment with USD 255.26 million revenue in 2017. Due to its increasing adoption in the combination drug treatments the immunotherapy segment is projected to grow at a CAGR of 21.63% over the forecast period.
Online pharmacy segment is anticipated to grow at a CAGR of 21.93% in 2018-2025.
Distribution channel is divided into hospital pharmacies, retail pharmacies and online pharmacies. On account of easy availability and convenience, the online pharmacy segment is projected to grow at a CAGR of 21.93% over the forecasted period.
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Regional Segment Analysis of the Liver Cancer Treatment Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region emerged as the largest global market for the liver cancer treatment with a 47.58% share of the market revenue in 2017. Factors such as the increasing of incidence of the liver cancer, presence of the world-class research facilities as well as well-developed pharmaceuticals and biotechnology sector are anticipated to lead North America region to grow at an accelerated CAGR of 22.03% over the forecast period. Asia Pacific region is also projected to attain a robust period during the forecast period, owing to unmet clinical needs as well as the rising prevalence of liver cancer in the region.
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