The global liver cancer drugs market size is expected to be valued at USD 1.47 billion by 2022, as per a new report by Grand View Research, Inc., expanding at a CAGR of 19.4% during the forecast period. The growth of liver cancer market is largely driven by factors such as availability of novel drugs, presence of strong pipeline, and rising public awareness. Widening base of liver cancer patients can be attributed to unhealthy lifestyles and growing geriatric population. This, in turn, is working in favor of the liver cancer therapeutics market. Therapeutic development in second-line setting for Nexavar-intolerant patients is estimated to have a major impact in the HCC space.
Liver cancer is the fifth most prevalent cancer worldwide and accounts for 9.0% of all cancer deaths. In 2012, 782,451 new cases of liver cancer were diagnosed, and 745,533 deaths were reported due to liver cancer. Primary liver cancer remains an important public health issue due to its extremely aggressive nature and poor survival rate. Hepatocellular carcinomas (HCCs) represents the majority (75–90%) of primary liver cancers. A noteworthy number of etiological factors of liver cancer, including hepatitis infection and cirrhosis, can be modified and present a strong prospect to reduce its incidence and mortality by preventive strategies such as lifestyle modification and hepatitis immunization.
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Further key findings from the report suggest:
• The U.S. accounted for more than 45.0% of the market in 2016. Multiple product launches, increasing adoption of novel therapeutics, and presence of a large target population are contributing to the growth of the market in the region
• Approval of multiple novel drugs in recent years is one of the key factors augmenting the liver cancer treatment market. New immuno-oncology products and combination therapies are anticipated to change the landscape over the next years.
• Combination regimens, specifically those including checkpoint inhibitors, will be introduced in the first-line setting to target major unmet needs, including overcoming tumour resistance, improving progression free survival, and maintaining quality of life
• The liver cancer market pipeline is highly innovative and diverse. The market offers tremendous opportunities to develop breakthrough first-in-class therapies due to high unmet needs. In recent years, innovative treatment approaches such as oncolytic viruses or RNA interference (RNAi) technology have gained significant traction in the market
• Some of the key players operating in this market are Bayer, Bristol-Myers Squibb, Eisai, and Exelixis. Collaborations for development, broader product portfolios, and regional expansion in emerging markets are the key strategic undertakings of these companies to increase their market share.
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Grand View Research has segmented the global liver cancer drugs market based on therapeutic class and country:
Liver Cancer Drugs Therapeutic Class Outlook (Revenue, USD Million, 2016 - 2022)
• Targeted Therapy
Liver Cancer Drugs Country Outlook (Revenue, USD Million, 2016 - 2022)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.