Liver cancer therapeutics Market – Competitor
Liver cancer is a type of malignant hepatic tumor in or on the liver, which may cause due to excessive alcohol intake, diabetes, certain inherited liver diseases, and hepatitis. Symptoms of this cancer appears only when it is in the advanced stage. The most common type of liver cancer is hepatocellular carcinoma, which begins in the main type of liver cell. Other types of liver cancer such as hepatoblastoma and intrahepatic cholangiocarcinoma are less common. Incidence rate of liver cancer is high in the U.S., owing to prevalence of cirrhosis caused by nonalcoholic fatty liver disease and chronic hepatitis C. According to American Cancer Society 2017, Liver cancer is the 10th most common cancer and fifth most common cause of death among men in the U.S. Also, it is the eighth most common cause of death among women. Colorectal cancer is expected to be one of the precursor for liver cancer. According to International Scholarly Research Network, a clinical study on Percutaneous Cryoablation of Metastatic Lesions from Colorectal Cancer in 2012: Efficacy and Feasibility with Survival and Cost-Effectiveness Observations, around 50% of the patient suffering from colorectal cancer develop liver cancer.
Liver cancer therapeutics Market – Driver
Increasing research to identify the causes of liver cancer is expected to boost growth of the liver cancer therapeutics market during the forecast period. For instance, in November, 2014, researchers at the San Diego School of Medicine and University of California found that long-term exposure to triclosan, a common ingredient in detergents and soaps, causes liver fibrosis and cancer in laboratory mice. However, triclosan has not been proven to cause liver cancer in human and it is currently under scrutiny by the Food and Drug Administration (FDA) to determine whether it has negative health impacts.
Moreover, increasing prevalence of liver cancer in various regions is expected to drive growth of the market. For instance, according to cancer research organization of UK, around 5,736 new cases of liver cancer were reported in UK in 2015. Furthermore, according to cancer organization, around 40,710 new cases of liver cancer was diagnosed in the U.S. during 2017, three of which will be hepatocellular carcinoma (HCC).
Organic and inorganic strategies by market players such as merger, collaboration, acquisition, and research and development for developing new therapies for liver cancer is expected to boost growth of the market. For instance, in 2013, Roche and Inovio Pharmaceuticals, Inc. entered into license agreement to research, develop and commercialize Inovio’s highly-optimized, multi-antigen DNA immunotherapies targeting hepatitis B and prostate cancer. It has also been shown that liver cancer risk increases substantially with the increase in Body Mass Index (BMI) of an individual. More than half of the adult population in the U.S. is overweight, which is propelling demand for therapeutic drugs of liver cancer, which in turn is creating opportunities for manufacturers.
Liver cancer therapeutics Market – Restrain
Stringent regulatory approvals to ensure the safety of drugs and cost of these drugs may hamper the growth of the liver cancer therapeutics market during the forecast period. For instance, in March 2017, ArQule, Inc’s product- tivantinib did not clear phase 3 clinical trial for hepatocellular carcinoma (HCC) in japan, as it did not meet its primary endpoint of progression free survival (PFS)
Liver cancer therapeutics Market – Regional Analysis
Geographically, global liver cancer therapeutics market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold dominant position over the forecast period, owing to increasing funding for research and development activities by government. American Liver Foundation is an organization that promote education, support and research for the prevention, treatment, and cure of liver disease and since 1979, this organization has provided more than US$ 26 million in research funding. Furthermore, liver cancer is more common in economies of Sub-Saharan Africa and Southeast Asia as compared to the U.S. According to GLOBOCAN, in 2012, around 83% (50% in China alone) of the estimated 782,000 new cancer cases were reported worldwide. Moreover, in Sub Saharan African countries, the risk of developing cancer and death from the same is high, owing to the late stage diagnosis and lack of treatment, which is driving growth of the liver cancer therapeutics market.
Liver cancer therapeutics Market – Competitor
The market players operating in liver cancer therapeutics market include Bayer AG, Bristol-Myers Squibb Company, Onyx Pharmaceuticals, Inc., Alnylam Pharmaceuticals, Inc., Pfizer Inc., F. Hoffmann-La Roche Ltd., Jennerex Biotherapeutics Inc., and Celsion Corp.
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