Liver Cancer Therapeutics Market To Grow at More than 8% by 2023 | Global Industry Share, Trends, Segments and Analysis By ALNYLAM PHARMACEUTICALS, ONYX PHARMACEUTICALS, F. HOFFMANN-LA ROCHE, PFIZER, ARQULE, JENNEREX BIOTHERAPEUTICS

The global liver cancer therapeutics market is expected to register a CAGR of around 8% during the forecast period (2018 - 2023). North America dominates the market due to the growing demand for cancer therapeutics.

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Rising Incidence of Cancer
In 2017, according to the American Cancer Society, there would be 29,000 cases of cancer death in US. Liver cancer incidence has been rising in the US since the mid-1970s, and it is expected to continue to grow through till 2030. Change in the current lifestyle of individuals has led to the exposure of a large amount of population to the risk factors that contribute to liver cancer. The risk factors include hepatitis (caused by either the hepatitis B or hepatitis C virus), type 2 diabetes, metabolic disorders & excess body weight, alcohol consumption, and tobacco smoking. It has also been shown that liver cancer risk increases substantially with the increase in one’s body mass index (BMI). More than half of the adult population in the US is overweight. Along with this high demand for therapeutic drugs for liver cancer, this creates great opportunities for manufacturers to produce more drugs and create a competitive landscape.

Key Developments in the Market
September 2017 - Food and Drug Administration (FDA) granted accelerated approval to the immunotherapy drug nivolumab (Opdivou00ae)for some patients with advanced liver cancer

Major Players:
ALNYLAM PHARMACEUTICALS INC., ONYX PHARMACEUTICALS INC., F. HOFFMANN-LA ROCHE LTD., PFIZER INC., ARQULE INC., JENNEREX BIOTHERAPEUTICS INC., CELSION CORP., BAYER SCHERING PHARMA AG, 4SC AG, BRISTOL-MYERS SQUIBB COMPANY are amongst others.

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Stringent Regulatory Policies for Therapeutics
In the expanding market for therapeutics, there are stringent regulatory policies in place to ensure the safety of such drugs. These policies are well studied. However, while rigorous regulatory procedures guarantee the quality of the product entering the market, they also delay the entry of a drug or device into the market which could be beneficial to patients suffering from a disease. Pre-market approval is an FDA process of scientific and regulatory review to evaluate the safety and effectiveness of drugs. There have been procedures by the FDA to heighten the post-market surveillance. The FDA review process takes twice the amount of time as the European regulatory commissions review bodies. Hence, citizens from countries where the review process is shorter benefit more than countries with longer review processes and stringent regulations. The presence of stringent regulations is dampening the innovation in the market and hindering the growth of this market. Strict regulatory policies have resulted in a reduction of investment by medical device manufacturers and drug companies in R&D of new products.

North America Dominates the Market
North America dominates the global liver cancer therapeutics market, owing to high incidence of liver cancer, technological advancement in therapeutics, and growing popularity of non-invasive radiation therapies in the region, leading to growing adoption of liver cancer therapeutics. Asia-Pacific is expected to grow during the forecast period owing to factors such as high prevalence of cancer, less stringent regulatory scenario, and presence of huge population base.

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