The Global Liver Cancer Market Size is supposed to gain traction owing to the factors such as increasing number of drug approvals, and rising number ongoing clinical trials for the developing effective and cost efficient therapies to treat liver cancer.
Liver cancer is a condition that is found in the liver when normal cells become abnormal in terms of functionality and appearance. The liver is situated at the upper rite of the abdomen, below the diaphragm which is above the stomach. There are several types of liver cancer namely; ‘Hepatocellular carcinoma’, ‘Cholangiocarcinoma’, ‘Liver Angiosarcoma’, and ‘Hepatoblastoma’. Hepatocellular carcinoma is the most common type of liver cancer which contributes about 75% of total number of patients suffering from liver cancer globally. While Cholangiocarcinoma is the second most common type of liver cancer, contributing approximately 15-20% of the total liver cancer cases worldwide.
In some cases, the cancer begins in some other body parts such as colon, lung or breast and then spreads to the liver this is known as metastatic cancer rather than liver cancer. The liver is the largest organ inside the body and performs various functions making it an important part of human body. However, liver cancer does not show any specific set of symptoms. But when the growth of the cancer is noted it causes pain in right side of the stomach. Also the symptoms like weight loss, nauseas, vomiting, fatigue, loss of appetite, and abdominal swelling. These symptoms are non-specific that can occur in any type of cancer. Liver cancers other symptoms include yellowish decolouration of the skin, tender and enlarged liver, and white-coloured stools.
Liver cancer can be diagnosed with the help of ultrasound surveillance, blood test, imaging studies, and liver biopsy. In blood test, the level of alpha-fetoprotein (AFP), which is elevated by 70% in the person suffering from liver cancer. With several ways of diagnosis of liver cancer, it cannot be cured. Mostly, liver cancer is diagnosed at an early stage and can be treated with the help of chemotherapy, targeted therapy, and radiation therapy.
The global market is primarily driven by the factors such as growing number of patients suffering liver cancer due to excessive intake of alcohol globally. Moreover, the surge in the incidence of Hepatocellular carcinoma, and increasing awareness about the diagnosis of liver cancer at the early stage is expected to propel growth in this market. Additionally, the ongoing clinical trials, for understanding the effectiveness of various new treatments for liver cancer, and increased government funding for the improvement of healthcare infrastructure in the developing countries are factors assisting growth of this market.
While, increasing number of drug approvals along with the strong presence of key players in North America is expected to have a positive impact of this market in the near future. Also, growing R&D funding and investments by the governments of developing economies, and increased demand for cost-effective and non-invasive diagnostic techniques further enhances the market potential.
However, high cost of targeted therapy as an effective treatment option, and relatively low awareness for targeted treatments in the developing countries can hinder the growth of this market in the near future.
The global market is segmented on the basis of cancer type, therapeutics, end users, and geography.
On the basis of cancer type, market is segmented into:
On the basis of therapeutics, market is segmented into:
On the basis of end use type, market is segmented into:
Geographically, the market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America is expected to dominate the liver cancer market size among the regions during the forecast period. North America holds major share owning to the continuous technological developments by the increasing R&D investments by the major players and government. While, increasing awareness for the use of targeted therapies would also spur the market in North America.
However, the market in Asia Pacific region is estimated to grow rapidly due to the factors such as increasing awareness for the various effective treatment.