Liver Cancer Treatment Market to Grow Rapidly; Heavy Demand for Novel Therapeutics to Foster Growth
Liver cancer is a condition or disease that occurs when normal cells in the liver become abnormal in appearance and behavior. The symptoms of liver cancer do not usually become apparent until the disease reaches an advanced stage. The symptoms generally include jaundice, abdominal pain, unexplained weight loss, an enlarged liver, spleen, or both, fatigue, back pain, itching, and fever.
The increasing development of novel treatment and therapies is likely to enable speedy expansion of the market in the forthcoming years.
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Market Driver:
The increasing R&D activities for the development of novel treatments is expected to promote the growth of the market. For instance, in April 2017, Bayer HealthCare Pharmaceuticals Inc’s STIVARGA (Regorafenib) received approval from the U.S. The increased government funding for cancer treatment is likely to foster the healthy growth of the market. According to World Cancer Research Fund International, liver cancer is the fifth most commonly occurring cancer in men and the ninth most commonly occurring cancer in women and there were about 840,000 new liver cancer cases in 2018, globally. In addition, the introduction of innovative therapies by leading market players is likely to create lucrative business opportunities for the market in the forthcoming years. For instance, in November 2018, Eisai China Inc., a Chinese subsidiary of Eisai Co., Ltd announced the launch of the kinase inhibitor LENVIMA which is the first new systemic therapy for the first-line treatment of hepatocellular carcinoma in China.
Nevertheless, the high cost associated with the development of novel therapies is likely to dwindle the growth of the market. the stringent drug approval process and adverse side effects associated with cancer treatment medications is expected to restrict the liver cancer treatment market growth during the forecast period.
Regional Analysis:
Moreover, the increasing adoption of novel therapeutics and diagnostics is likely to aid the growth of the market in North America. Asia Pacific is predicted to witness significant growth during the forecast period. The increasing cases of liver cancer in India and China.
Key Development:
August 2019: immunology researchers at the Roswell Park Comprehensive Cancer Centre unveiled a biomarker that describes patients’ response to a common chemotherapy for liver cancer.
The Report Lists the Key Companies Operating in the Liver Cancer Treatment Market:
- Hoffmann-La Roche Ltd
- Abbott
- Sysmex Corporation
- Siemens Healthcare GmbH
- Danaher
- Thermo Fisher Scientific Inc.
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