The size of the Liver Cancer Therapeutics Market in North America was worth USD 243.91 million in 2022 and estimated to be growing at a CAGR of 8.56%, to reach USD 367.78 million by 2027.
The increase in the incidence of liver cancer has surpassed cardiovascular diseases as the second most significant cause of death. Its prevalence is primarily due to environmental factors, alcohol usage, smoking, and increased urbanization. As a result, increased prevalence and need for effective medications are expected to fuel North America's market expansion throughout the forecast period. Cancer research and development to deliver enhanced patient care accelerates year after year. The number of pipeline candidates for liver cancer treatment has increased due to innovative research leading to combination therapy with novel or current medication molecules.
Furthermore, substantial support for R&D funding from the government and international healthcare organizations is expected to contribute to the liver cancer market potential. This, together with the increased need for biosimilars to join the market, is expected to boost the market growth. A vast population has been exposed to specific risk factors contributing to liver cancer due to a lifestyle change.
During the forecast period, the liver cancer therapeutics market in the North American region is expected to be driven by a high prevalence of metastatic cancer that spreads from other body regions, such as breast cancer, colon cancer, or lung cancer. The expansion of the North American liver cancer therapeutics market is expected to be aided by developing novel revolutionary therapeutic medications, potent clinical therapeutic pharmaceuticals, increased awareness, and favorable government assistance.
When cancer cells are treated with a high dose of medications, the tumor cells are destroyed, and the body's normal cells are damaged to a greater extent. Many people experience gastrointestinal problems, hair loss, exhaustion, skin problems, and other negative effects due to this. As a result, adverse oncology treatments are harming the market for liver cancer drugs. Furthermore, regulatory authorities' strict requirements related to clinical trials are another issue impeding market expansion.
This research report on the North American liver cancer therapeutics market has been segmented and sub-segmented into the following categories
By End Users:
The rising incidence of liver cancer in this region, the presence of significant market competitors, and the development of novel products, all of which will affect market growth in the area, are the major factors driving market expansion in North America. The senior population, which includes patients with major underlying medical issues, such as people with liver disease, may be at higher risk of severe sickness from COVID-19, according to the Centers for Disease Control and Prevention (CDC). Patients with hepatocellular carcinoma (HCC), more common in people with chronic liver illnesses such as hepatitis B or C, are more likely to develop severe COVID-19 than those who do not have hepatocellular carcinoma. In addition, increased research and development initiatives in creating innovative treatments for the liver are likely to boost market expansion in the United States. For example, the FDA authorized atezolizumab (Tecentriq) and bevacizumab (Avastin) as first-line treatments for persons with liver cancer that has spread or cannot be treated with surgery in May 2020. As a result, the market is being driven by the rising prevalence of liver cancer in the United States and the increasing need for liver cancer therapy.
KEY MARKET PLAYERS:
Companies playing a dominant role in the North America 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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