Research Nester published a report titled “Liver Cancer Therapeutics Market: Global Demand Analysis Opportunity Outlook 2031” which delivers detailed overview of liver cancer therapeutics in terms of market segmentation by type, therapy, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global of liver cancer therapeutics market is estimated to garner significant revenue by growing at a CAGR of 20.2% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to growing prevalence of liver cancer, and rise in incidence of hepatitis B infection in developing countries. According to the World Health Organisation, liver cancer was ranked third in the most common causes of cancer death in the world in 2020, causing nearly 830,000 deaths, while in 2019, hepatitis B resulted in an estimated 820,000 deaths globally. The market is segmented by type into hepatocellular carcinoma, cholangiocarcinoma, hepatoblastoma, and others, out of which, the hepatocellular carcinoma segment is anticipated to hold the largest share in the global liver cancer therapeutics market over the forecast period. In 2018, there were an estimated number of 661,000 cases of hepatocellular carcinoma recorded worldwide, that contributed 80% of the world total liver cancer burden.
Geographically, the global liver cancer therapeutics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East Africa region, out of which, North America is anticipated to hold the largest market share owing to high awareness about liver cancer, presence of well-established healthcare infrastructure, and easy drug availability. Additionally, Asia-Pacific region is estimated to witness growth at the highest rate during the forecast period.
In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
Healthcare Companies and Private Service Providers to have a minimal damage Caused by Inflation:
As US govt. remains committed to quality by spending more in the Medicaid and Medicare programs, incentives by govt. to medical devices, pharma companies and biotech to benefit the market players in short and long term goals. In 2021, U.S. spent $12,318/person on healthcare- highest amongst all OECD countries followed by Germany at $7,383. The federal government commitment towards healthcare systems to enable market players expanding their revenues and mitigating the risk posed by the inflation.
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The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Prevalence of Liver Cancer and Advancement in Cancer Therapeutics with Emergence of Targeted Therapies to Boost Market Growth
Liver cancer is the sixth most common type of cancer in the world and recorded a number of 905,677 cases in 2020, as per statistics by the International Agency for Research on Cancer (IARC). Growing prevalence of liver cancer over high alcohol consumption, non-alcoholic fatty liver disease, is one of the key factors driving the growth of the market. Moreover, targeted therapy is considered a breakthrough in the field of medical oncology, which determined an improvement in the effectiveness of cancer treatments. Increasing RD activities and advancement in targeted cancer therapies are also expected to foster the growth of the global liver cancer therapeutics market.
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However, high cost and side effects related to certain liver cancer therapies, and limitations in treatment options with several therapies in clinical trial stage are expected to restrain the growth of global liver cancer therapeutics market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global liver cancer therapeutics market which includes company profiling of Bristol-Myers Squibb Company, Eisai Co., Ltd., Exelixis, Inc., Merck Sharp Dohme Corp. (Merck Co., Inc.), Bayer AG, Zymeworks Inc., F. Hoffmann-La Roche Ltd., Celsion Corporation, Eli Lilly and Company, AstraZeneca, among others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global liver cancer therapeutics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.