The Liver Cancer Therapeutics Market size in the Middle East and Africa was worth USD 89.05 million in 2022 and estimated to be growing at a CAGR of 9%, to reach USD 137.02 million by 2027.
The MEA liver cancer therapeutics market studied is expected to be favored by factors such as the increasing prevalence of liver cancer high demand for diagnostic tests and treatment during the forecast period. Globally, the rate of new liver and intrahepatic bile duct cancer cases was recorded at 9.0/100,000 per year. Furthermore, the mortality rate was 6.6 per 100,000 per year. With this data, approximately 1.0% of men and women are anticipated to be diagnosed with liver cancer at some point in their lives.
Many local governments and non-profit organizations are taking initiatives to limit liver cancer and allow early detection, improving the survival chances in patients. However, high consumption of high-cholesterol food and alcohol, substance and drug abuse, and a growing rate of lifestyle-related disease significantly increase the rate of liver cancer in the population, especially in people over the age of 40. Additionally, technological advances in diagnosis and therapeutics with innovative techniques to allow a higher acceptance rate of liver transplantation will fuel the growth of liver cancer in the MEA market.
Other factors such as high unmet medical demand, growing concerns about the complications, lack of compatibility for liver transplantation, and new developments in therapeutics contribute to the growth of the studied market.
However, the treatment for liver cancer is expensive due to the wide range of treatment modalities, including radiotherapy, chemotherapy, and surgical intervention. Moreover, many people in developing and underdeveloped regions of MEA cannot afford these procedures when faced with the challenge of inadequate insurance policies or government healthcare programs. All these factors mentioned above have a negative impact on market growth. Moreover, a lack of knowledge about this type of cancer and its therapeutics options and the uncertain nature of the diseases will challenge this market. Another factor is poor outcomes after liver translation due to graft rejection, and limited clinical trials of cancer drugs restrain the market growth.
This research report on the MEA liver cancer therapeutics market has been segmented and sub-segmented into the following categories
By End Users:
The regional market in Saudi Arabia dominated the market and is expected to witness phenomenal growth during the forecast period due to improved technologies and medicines for the treatment of liver cancer. The prevalence of liver cancer increases with the rising number of people suffering from chronic disease. According to the International Agency for Research on Cancer estimates, the incidence of liver cancer was nearly 4.5 per 100,000 population in 2018, and the mortality rate was recorded at 4.2 per 100,000 population.
The two other countries in the MEA region anticipated to grow during the given timeline are UAE and Qatar. These markets will play a key role in increasing revenue due to several factors such as rapid urbanization, good healthcare spending, significant investments by government authorities, better healthcare systems, and a growing cancer prevalence. For example, the hepatocellular cancer incidence was nearly 2-5% in the UAE and is anticipated to grow further in the years to come.
Likewise, the liver cancer prevalence ranges from 0.8-7% in Iran, 2.3-10% in Oman, 2.6-10% in Jordan, 4 to 5% in Iraq, 5 to 10% in Turkey, and 16-20% in Sudan.
The African region is expected to witness promising growth due to excessive fatty food consumption and increased alcohol consumption, which leads to a dramatic increase in the number of people diagnosed with liver cancer. As a result, many multinationals invest heavily in this region to penetrate untapped markets.
KEY MARKET PLAYERS:
Companies playing a key role in the MEA liver cancer therapeutics market profiled in this report are Alnylam Pharmaceuticals Inc., ImClone Systems Inc., Onyx Pharmaceuticals Inc., F. Hoffmann-La Roche Ltd., Pfizer Inc., ArQule Inc., Jennerex Biotherapeutics Inc., Celsion Corp., Bayer Schering Pharma AG, 4SC AG, and Bristol-Myers Squibb Company.
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