Increasing prevalence of liver cancer among population across the globe to drive liver cancer therapeutics market
According to TechSci Research report, “Global Liver Cancer Therapeutics Market By Cancer Type (Hepatocellular Carcinoma, Cholangiocarcinoma, Others), By Therapy (Targeted Therapy, Radiation Therapy, Immunotherapy, Chemotherapy, Others), By Equipment (Computed Radiography, Radiofrequency Equipment, Others), By Age (0-18, 18-35, 35-50, 50+), By Factors (Chronic Infection with HBV Or HCV, Cirrhosis, Inherited Liver Disease, Diabetes, Others), By Route of Administration (Oral, Intra-Venous, Intra-Arterial, Intra-Tumoral, Intra-Portal, Intra-Splenic, Intra-Biliary), By Region, Forecast & Opportunities, 2025”, the global liver cancer therapeutics market is expected to witness a robust CAGR during the forecast period owing to factors like rising prevalence of liver cancer and development of novel innovative therapeutic drugs, increase in awareness among people. Liver cancer accounts for the third foremost reason for deaths associated with cancer around the world. Changes in current lifestyle increases the risk factors that contribute to liver cancer. Scientists around the world are working on research activities for developing novel treatments for liver cancer, which is forecast to drive the market for liver cancer therapeutics.
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.
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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 targeted therapy, radiation therapy, immunotherapy, chemotherapy, radiofrequency ablation, microwave ablation, embolization & chemoembolization and surgery. Among them, the targeted therapy is anticipated to be the largest segment until 2025 as it is the only approved targeted therapeutic treatment that is available for the treatment of the advanced stage liver cancer. This therapy uses tyrosine kinase inhibitors which inhibit the several kinase proteins that stimulate cancer cell growth.
Major players operating in the global liver cancer therapeutics market include Bayer AG, Alnylam Pharmaceuticals Inc., F. Hoffmann-La Roche AG , Bristol-Myers Squibb Co, Eisai Co., Ltd. , Pfizer Inc., Exelixis, Inc., Merck & Co. Inc., Celsion Corporation , ArQule Inc., Johnson & Johnson, Novartis, Sanofi, Eli Lily, Perkin Elmer, Sunpharma, AbbVie, Amgen, AstraZeneca, Philips Healthcare and others. The market players are focusing on research and development activities to bring innovative treatments for liver cancer. Added to this, government funding is also encouraging the R&D activities, which is propelling the market growth across the globe.
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“Aging population and unmet requirements for liver cancer treatment accounts for the growth of global liver cancer therapeutics market. Today, variety of treatment options are available in the market. However, increasing prevalence of different types of liver cancer demands for more innovative drugs and treatments. Moreover, the companies need to invest more in R&D activities for further expansion of their market shares and to 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 (Hepatocellular Carcinoma, Cholangiocarcinoma, Others), By Therapy (Targeted Therapy, Radiation Therapy, Immunotherapy, Chemotherapy, Others), By Equipment (Computed Radiography, Radiofrequency Equipment, Others), By Age (0-18, 18-35, 35-50, 50+), By Factors (Chronic Infection with HBV Or HCV, Cirrhosis, Inherited Liver Disease, Diabetes, Others), By Route of Administration (Oral, Intra-Venous, Intra-Arterial, Intra-Tumoral, Intra-Portal, Intra-Splenic, Intra-Biliary), By Region, 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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