Liver Cancer Therapeutics Market to Reach USD 7,382.1 Million by 2027

The global “liver cancer therapeutics“ market size is expected to reach USD 7,382.1 million by 2027, registering a CAGR of 20.2% during the forecast period. The emergence of effective drugs and therapies for the treatment of liver cancer will subsequently spur lucrative opportunities for the market, states Fortune Business Insights, in a report, titled “Liver Cancer Therapeutics Market Size, Share Industry Analysis, By Therapy Type (Targeted Drug Therapy, Immunotherapy, and Chemotherapy), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2020-2027.” The market size stood at USD 1,730.9 million in 2019.

The coronavirus incident has brought the world to an unprecedented stop. We understand that this health crisis has brought an unwonted effect on businesses across various. However, this too, shall pass. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling, and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.

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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.

Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

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The report on the liver cancer therapeutics market, specifically mentions minute and significant improvements in the global market in recent times. The report also offers a wide-ranging study fixated on emerging trends and new innovative products. The robust research methodology involving primary interviews and desk research is covered in the report while also providing a noteworthy overview of the RD activities and latest developments to support emerging companies to strengthen their position and strategize to remain at the forefront.

Market Driver:

Rising Cases of Liver Cancer to Boost Market

The increasing incidence of liver cancer is expected to expedite the growth of the market during the forecast period. Alcohol tobacco consumption, smoking, and environmental factors in developed nations are some of the reasons for the prevalence of cancer. The increasing urbanization is expected to bolster the healthy growth of the market in the forthcoming years. According to the World Cancer Research Fund, in 2018, there were around 840 000 new cases of liver cancer. Moreover, the growing demand for effective drugs is predicted further to boost the market's development in the foreseeable future. However, oncology drugs' adverse side effects will consequently restrict their adoption, which will retard the growth of the market.

Favorable Guidelines and Recommendations for Cancer Drugs to Aid Market Amid COVID

The pharmaceutical companies are adopting strategies to maintain the balance between supply and demand. Health organizations have issued necessary guidelines and recommendations for managing hepatocellular carcinoma patients in the time coronavirus. For instance, the American Society of Clinical Oncology (ASCO), European Society of Medical Oncology (ESMO), National Institute of Health and Care Excellence (NICE) have proposed guidelines. Furthermore, several research studies have confirmed that patients with HCC are at higher risk of contracting the infection. Therefore, these patients were considered in the emergency category during the pandemic. Besides, the increased sales of cancer products will foster healthy growth of the market amid COVID-19.

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The Report Lists the Key Companies in the Liver Cancer Therapeutics Market:

Bayer HealthCare Pharmaceuticals Inc. (Leverkusen, Germany)
Bristol-Myers Squibb Company (New York, U.S)
Pfizer Inc. (New York, U.S)
Exelixis, Inc. (California, U.S)
Merck Sharp Dohme Corp. (New jersey, U.S)
Eisai Inc. (Tokyo, Japan)
Eli Lilly and Company (Indiana, U.S)
Hoffmann-La Roche Ltd (Basel, Switzerland)
Other Players

Regional Analysis:

Presence of Prominent Companies to Incite Growth in North America

The market in North America is expected to expand radically during the forecast period owing to the rising incidence of liver cancer in the US. The presence of major companies, coupled with the launch of novel products will influence growth in the region. Europe is expected to expand radically during the forecast period due to the RD investments to develop effective drugs. The higher sales of targeted drug therapy products is expected to boost the growth of the market in Europe. Asia Pacific is expected to rise excellently during the forecast period owing to the growing number of clinical studies pertaining to liver cancer. The increasing geriatric population is likely to contribute impetus in the region. Latin America, and Middle East Africa are likely to experience a slower growth rate owing to lower adoption of high-cost liver cancer drugs. Similarly, the lack of product approvals in the majority of the under-developed countries can further dampen the growth of the market in those regions.