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The global liver cancer therapeutics market size was valued at USD 1,730.9 million in 2019 and is projected to grow from USD 2,037.5 million in 2020 to USD 7,382.1 million by 2027, exhibiting a CAGR of 20.2% during 2020-2027 period. Based on our analysis, the global market will exhibit a stellar growth of 19.0% in 2020. The global impact of COVID-19 has been unprecedented and staggering, with liver cancer therapeutics witnessing a positive demand shock across all regions amid the pandemic. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
According to an evaluated pharma report, the oncology area represented the largest proportion of around 40% of the drug pipeline in 2019 and 20% of the pharmaceutical industry revenue. A few numbers of drugs have been approved for the treatment of hepatocellular carcinoma, which accounts for 90% of liver cancer. According to Globocan, there are approximately 1.2 million patients diagnosed with cases of liver cancer annually worldwide. This has led to an increase in the sales of drugs. Additionally, a higher percentage of the medications' effectiveness and potentiality are responsible for the rise in company sales globally.
Robust research and development against the deadly disease has emerged in the launch of novel drugs. For example, in May 2020, Roche received U.S Food and Drug Administration (FDA) approval for the launch of immunotherapy Tecentriq in combination with Avastin indicated against the treatment of liver cancer. These drugs are used to lower the cancer cells in the body and lower the symptoms. Therefore, boosting the liver cancer drugs market growth during the forecast period.
COVID-19 Pandemic to Have a Positive Impact on Product Sales
The COVID-19 pandemic has had a positive impact on the global liver cancer therapeutics market due to a surge in the sales of the products concerning the COVID-19 emergency. The pharmaceutical companies amid the pandemic have significantly focused on maintaining the balance between supply and demand thus keeping their sales intact. Health organizations have issued necessary guidelines and recommendations for the management of hepatocellular carcinoma patients in the COVID-19 era, leading to demand in the therapeutic drug supply. For instance, the American Society of Clinical Oncology (ASCO), European Society of Medical Oncology (ESMO), National Institute of Health and Care Excellence (NICE), etc., have proposed guidelines. Moreover, several research studies have confirmed that patients with HCC are at higher risk of contracting the infection. Therefore, these patients were considered in the emergency category during the pandemic.
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Robust R&D by Companies to Improve Market Potential
The fundamental aim of cancer treatment is to cure the disease through therapeutic drugs, prolong patient survival, and improve life quality. Immune cells play a crucial role in tumor progression, and therefore companies have focused on R&D of immunotherapy and targeted drug therapy to achieve a faster prognosis. For example, in January 2020, Sirnaomics and Innovent Biologics Inc. entered into a collaboration agreement to conduct clinical studies on RNAi drug candidate STP705 and drug Tyvyt as a combination in treatment against advanced liver cancer such as HCC. Therefore, with the help of strategic collaborations among the industry players, liver cancer research and development has reached new heights, subsequently contributing to an increase in its market size.
Increasing Prevalence of Liver Cancer to Propel Product Demand
Globally, increase in the incidence of liver cancer has marked as the second leading cause of death after cardiovascular disorders. Environmental factors, alcohol consumption, smoking, and increasing urbanization are mainly responsible for its prevalence. For instance, according to the World Cancer Research Fund, in 2018, there were around 840 000 new cases of liver cancer. Thus, a higher prevalence and demand for effective drugs is anticipated to drive the market growth during the forecast period.
Robust Drug Pipeline to Aid Growth Opportunities
Cancer research and development to provide advanced patient care is accelerating year by year. Innovative experiments leading to combination therapy with new or existing drug molecules have shown to rise in the pipeline candidates for liver cancer treatment. Also, strong backing from government and international healthcare organizations for R&D funding is likely to contribute to the liver cancer market opportunities. This coupled with the growing preference for biosimilars entering the market, is projected to augment the market growth.
Adverse Effects of Drugs and Stringent Regulations to Restrict Market Growth
Treating cancer cells with a high dose of the drugs leads to the destruction of tumor cells and damages the normal cells of the body to a greater extent. This results in various side effects such as gastrointestinal disorders, hair loss, fatigue, skin disorders, etc. in many patients. Therefore, these adverse events pertaining to the oncology drugs are negatively influencing the growth of the global market for liver cancer drugs. Additionally, strict regulations regarding clinical studies by the regulatory bodies are also another factor causing hindrance in market growth.
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Increased Sales of Products for Targeted Drug Therapy to Foster Growth
Based on the therapy type, the market segment includes targeted drug therapy, chemotherapy, and immunotherapy. The targeted drug therapy segment accounts for the majority of the market share in 2019. Targeted therapy is focused on precisely killing the target tumor cells and eliminating side effects on the normal cells. This factor leads to the more outstanding recommendation of drugs by hospitals and oncology physicians through prescription. Moreover, the growing number of pipeline candidates coupled with product approvals is anticipated to fuel the segment growth during the forecast period.
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On the other hand, the immunotherapy segment is expected to emerge as the fastest-growing segment during the forecast period due to innovative drugs for liver cancer treatment. For example, in June 2020, the U.S FDA approved Roche’s immunotherapy regimen that includes a combination of Tecentriq and Avastin to treat liver cancer patients.
Growing Prescription of Medications at Hospitals to Contribute Growth
In terms of the distribution channel, the market for liver cancer therapeutics is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacy segment holds the lion’s share globally due to increased patient visits and sales of prescription-based drugs for treatment against liver cancer disorders, mainly hepatocellular carcinoma. Also, the rise in the patient preference to buy products from nearby pharmacies on a regular basis is responsible for the growth of this segment. The online pharmacy segment is expected to witness lucrative CAGR over the forecast period due to the penetration of online pharmacies in emerging countries and other developing countries.
North America Liver Cancer Therapeutics Market 2016-2027 (USD Million)
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The market size in North America stood at USD 1,106.3 million in 2019. The dominance of this region is attributable to the rising incidence rates of liver cancer among the U.S population. Another major factor contributing to the growth of the region is the presence of major players coupled with the launch of products. Europe holds the second position in the market owing to its investments in R&D for the development of therapeutically effective drugs. This, along with higher sales of targeted drug therapy products, is expected to drive the growth during the forecast period. Moreover, Asia Pacific is anticipated to witness a high CAGR due to the growing number of clinical studies about liver disease including cancer and the region's increased geriatric population. On the other hand, Latin America, and Middle East & Africa are likely to witness comparatively slower growth due to slower adoption of high-cost liver cancer drugs coupled with lack of product approvals in most under-developed countries.
Significant R&D Investments by Key Players to Improve Business Outcome
The market is consolidated owing to the presence of limited market players with a focus on liver cancer therapeutics. Bayer AG and Eisai Inc. have a larger market share. The industry players' dominance is attributable to strong sales of oncology drugs for liver cancer coupled with strategic investments and collaborations to proliferate the product portfolio. Additionally, the emergence of new players during the forecast period and multiple product approvals is anticipated to broaden the scope of the global market. For instance, in January 2020, AstraZeneca received Orphan Drug Designation (ODD) for its Imfinzi and tremelimumab drugs indicated against HCC treatment.
An Infographic Representation of Liver Cancer Therapeutics Market
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The global liver cancer therapeutics market research report provides a detailed analysis of the market. It focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the developed market in recent years.
Value (USD Million)
By Therapy Type
By Distribution Channel
Fortune Business Insights says that the global market size for liver cancer therapeutics was USD 1,730.9 million in 2019 and is projected to reach USD 7,382.1 million by 2027.
In 2019, the North American market size stood at USD 1,106.3 million.
Growing at a CAGR of 20.2%, the market will exhibit strong growth in the forecast period (2020-2027).
The targeted drug therapy segment is expected to be the leading segment in this market during the forecast period.
The increasing prevalence of hepatocellular carcinoma globally and the introduction of advanced products by market players are major factors driving the growth of the market.
Bayer AG, Eisai Inc., and F. Hoffmann-La Roche Ltd are major players in the global market.
North America dominated the market share in 2019.
The increased burden of under-diagnosed liver diseases and the demand for effective products in emerging nations are expected to drive the adoption in the global market.
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