Global Liver Cancer Drugs Market

Liver Cancer Drugs Market Size, Share, Growth Analysis, By Type(Hepatocellular Carcinoma, Cholangiocarcinoma, and Hepatoblastoma), By Therapy(Targeted Drug Therapy, Immunotherapy, and Chemotherapy), By Service(Managed services, and professional services), By Deployment(Cloud and On-premise), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35B2174 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 114 | Figures: 67

Liver Cancer Drugs Market Regional Insights

North America held the dominant share with an estimated 40.37% share earned in 2022. This is owing to the presence of well-established healthcare infrastructure, coupled with an extensive reimbursement framework. Additionally, the increasing implementation of novel diagnostics, and adoption of healthcare insurance policies will further help this region continue dominance. Furthermore, due to the rising incidence of various tumor cases, supportive government organizations such as IARC, CDC, and NIH, the research & development of new testing & screening methods is also projected to help promote market growth.

Asia Pacific on the other hand, is projected to witness the highest growth rate during the forecast years. This is attributed to the significant growth of the geriatric population exposed to risk factors in developing nations. Additionally, rise in initiatives by governments & private organizations to improve access to healthcare are also promoting market growth.

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Liver Cancer Drugs Market size was valued at USD 2.7 Billion in 2022 and is poised to grow from USD 3.18 Billion in 2023 to USD 11.6 Billion by 2031, growing at a CAGR of 17.6% in the forecast period (2024-2031).

The liver cancer therapeutics market is consolidated in nature with the presence of a handful of players. The key market players are focusing on R&D to bring innovative treatments for the treatment of liver cancer. The entry of new players may create a challenging environment for existing players. Increase in efforts such as collaboration, merger and acquisition strategies, among others are likely to help players gain a competitive edge in the overall market competition during the forecast period. 'Johnson & Johnson Services Inc.', 'F. Hoffmann-La Roche Ltd.', 'Pfizer Inc.', 'Abbott Laboratories', 'Novartis AG', 'Eli Lilly and Company', 'Gilead Sciences', 'Bristol Myers Squibb', 'AbbVie Inc.', 'Zydus Pharmaceuticals Inc'

One million new cases of liver cancer are diagnosed worldwide each year. The increase in prevalence of people consuming alcohol and following smoking habits is projected to aid in market expansion during the forecast period. Liver cancer is mainly caused by smoking, alcohol, and increased urbanization. The global market for liver cancer drugs is being positively impacted by increased government help and investments from international healthcare institutions. The availability of many liver cancer drugs may soon increase demand.

Robust R&D by Companies to Improve Market Potential: The primary objective of cancer treatment encompasses prolong patient survival, achieving disease cure through therapeutic drugs, and improving overall quality of life. Extensive focus has been directed towards researching and developing immunotherapy and targeted medication therapy, given the crucial role immune cells play in the progression of tumors. As an example, in January 2020, Sirnaomics and Innovent Biologics Inc. joined forces in a collaborative agreement for conducting a clinical research on the medication of Tyvy and the RNAi drug candidate STP705, aiming to treat liver cancer including HCC. Consequently , the realm of liver cancer research and development has witnessed remarkable progress, propelled by strategic partnerships among industry players, leading to a subsequent expansion in the market size for this disease.

North America held the dominant share with an estimated 40.37% share earned in 2022. This is owing to the presence of well-established healthcare infrastructure, coupled with an extensive reimbursement framework. Additionally, the increasing implementation of novel diagnostics, and adoption of healthcare insurance policies will further help this region continue dominance. Furthermore, due to the rising incidence of various tumor cases, supportive government organizations such as IARC, CDC, and NIH, the research & development of new testing & screening methods is also projected to help promote market growth.

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Global Liver Cancer Drugs Market

Report ID: SQMIG35B2174

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