Pune, Oct. 25, 2023 (GLOBE NEWSWIRE) -- “The SNS Insider report indicates that the Liver Cancer Therapeutics Market was valued at USD 2,923.58 million in 2022 and is projected to reach USD 12,910.02 million by 2030, exhibiting a compound annual growth rate (CAGR) of 20.4% during the forecast period spanning from 2023 to 2030.”
Market Overview
Liver cancer therapeutics refer to the various medical interventions and treatment strategies aimed at managing and potentially curing liver cancer, also known as hepatocellular carcinoma (HCC) or hepatic carcinoma. For early-stage liver cancer, surgical resection is often the preferred option. This involves removing the tumor and a portion of the surrounding healthy tissue. It is considered curative if the cancer hasn't spread extensively. These minimally invasive procedures use heat or cold to destroy cancerous tissue. Techniques include radiofrequency ablation, microwave ablation, and cryoablation. They are typically used for small tumors or when surgery is not an option. The choice of therapy depends on the individual patient's circumstances, including the stage of cancer, overall health, and the presence of underlying liver disease. Often, a combination of treatments is used to address liver cancer comprehensively.
Market Analysis
The liver cancer therapeutics market is influenced by several growth drivers that continue to shape the industry. Liver cancer has been on the rise in recent years due to various factors such as lifestyle choices, increasing alcohol consumption, hepatitis B and C infections, and the prevalence of non-alcoholic fatty liver disease. This higher incidence is driving the demand for effective therapeutics. The development of novel treatment approaches, including targeted therapies, immunotherapies, and precision medicine, is significantly expanding the range of options available to patients. These innovative approaches are improving survival rates and quality of life. Government organizations and health agencies worldwide are recognizing the growing burden of liver cancer and are providing funding and support for research, diagnosis, and treatment. This financial backing boosts the development of therapeutics. The global aging population is at higher risk for liver cancer. As the elderly population grows, the demand for liver cancer therapeutics is expected to rise.
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Key Company Profiles Listed in this Report are:
The Major Players are ImClone Systems Inc., Alnylam Pharmaceuticals Inc., F. Hoffmann-La Roche Ltd., Onyx Pharmaceuticals Inc., ArQule Inc., Pfizer Inc., Celsion Corp., Jennere Biotherapeutics Inc., 4SC AG, Bayer Schering Pharma AG, and other players.
Liver Cancer Therapeutics Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 2923.58 Mn |
| Market Size by 2030 | US$ 12910.02 Mn |
| CAGR | CAGR of 20.4% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Key Takeaway from Liver Cancer Therapeutics Market Study
- The immunotherapy segment has emerged as a dominant force in the market. One of the key advantages of immunotherapy is its precision. Unlike traditional treatments, which can damage healthy cells along with cancerous ones, immunotherapy specifically targets the malignancy. This reduces the side effects and enhances the patient's overall quality of life during treatment.
- While immunotherapy may be revolutionizing the liver cancer therapeutics market, the role of retail pharmacies cannot be overlooked. Retail pharmacies serve as a crucial link between patients and the medications prescribed by their healthcare providers. They ensure that liver cancer patients can obtain their prescribed drugs promptly and efficiently, playing a pivotal role in their treatment journey.
Recent Developments
- Charles River has recently entered into a groundbreaking partnership aimed at advancing the development of gene therapy specifically targeted at this life-threatening disease. This collaborative effort is underpinned by Charles River's extensive expertise in drug discovery and preclinical research, which will be synergistically combined with the innovative gene therapy approaches of the partnering experts.
- The University of Southern California (USC) has entered into a promising collaboration with Auransa, a biopharmaceutical company renowned for its pioneering work in the realm of cancer therapeutics. This joint effort marks the initiation of Phase I clinical trials for a groundbreaking drug targeting liver cancer.
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Market Dynamics Analysis
The liver cancer therapeutics market is currently undergoing dynamic changes driven by a combination of factors. On the driver's side, the increasing incidence of liver cancer, particularly in regions with high rates of chronic hepatitis B and C infections, has fueled the demand for innovative treatment options. Advances in medical research and technology have also led to the development of novel therapies such as targeted molecular drugs and immunotherapies, offering renewed hope for patients. However, several restraints and challenges loom over this market. Early diagnosis and effective treatment options remain limited, often leading to late-stage detection and poorer outcomes. This is further exacerbated by limited access to healthcare in certain regions. Moreover, the high costs associated with advanced therapies, including immunotherapies, pose economic challenges for both patients and healthcare systems. Furthermore, the market faces potential threats from the increasing incidence of non-alcoholic fatty liver disease (NAFLD) and non-alcoholic steatohepatitis (NASH), as these conditions can progress to liver cancer over time. The evolving regulatory landscape, which governs drug approvals and reimbursement policies, also presents a complex environment for market players.
Liver Cancer Therapeutics Market Segmentation:
By Therapy Type
- Immunotherapy
- Targeted Drug Therapy
- Chemotherapy
By Distribution Channel
- Retail Pharmacy
- Hospital Pharmacy
- Online Pharmacy
Key Regional Developments
In North America, the liver cancer therapeutics market is driven by factors such as a high prevalence of risk factors like obesity, alcohol consumption, and viral hepatitis. The region boasts advanced healthcare infrastructure and a robust pharmaceutical industry, facilitating the development and adoption of novel therapies. Europe has a significant burden of liver cancer, particularly in Eastern and Southern European countries due to high rates of hepatitis B and C infections. Access to healthcare services varies across the region, with Western Europe offering better healthcare infrastructure. The Asia-Pacific region is home to a considerable proportion of liver cancer cases, largely attributed to a high prevalence of hepatitis B and C, as well as dietary and lifestyle factors.
Impact of Recession on Liver Cancer Therapeutics Market Growth
The impact of a recession on the liver cancer therapeutics market can vary by region and country, depending on their healthcare systems, economic stability, and healthcare policies. Physicians and healthcare systems may reconsider treatment approaches during a recession, opting for more cost-effective treatments or strategies that focus on maximizing the use of existing resources. Recession-induced restrictions on in-person care could accelerate the adoption of telemedicine and remote monitoring technologies. This may improve access to care and reduce costs, making it a potential silver lining in challenging economic times. As healthcare systems seek ways to reduce costs, there may be a greater emphasis on preventative measures and early detection, which can ultimately benefit liver cancer patients.
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Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Liver Cancer Therapeutics Market Segmentation, by Therapy Type
9. Liver Cancer Therapeutics Market Segmentation, by Distribution Channel
10. Regional Analysis
11. Company Profile
12. Competitive Landscape
13. USE Cases and Best Practices
14. Conclusion
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