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. The market size stood at USD 1,730.9 million in 2019.
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 R&D activities and latest
developments to support emerging companies to strengthen their position and
strategize to remain at the forefront.
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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 short-term and long-term impact of COVID-19 on this Market.
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