Market Size of Asia Pacific Liver Cancer Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.20 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Liver Cancer Market Analysis
The Asia-Pacific liver cancer market is anticipated to register a CAGR of 5.2% over the forecast period.
The emergence of COVID-19 had a major impact on patients with diseases other than COVID-19 due to the high burden on healthcare resources, owing to the increasing infection rate of the SARS-CoV-2 virus. The liver cancer market was also impacted by the pandemic as it delayed or rescheduled diagnostics and treatment procedures. There was a decline in footfall in hospitals for treatment and diagnostics of new cancer cases as people with comorbidity were at higher risk of COVID-19. For instance, according to a research study published in NCBI in February 2021, the standard treatment of patients with liver cancer was significantly impacted by the first wave of the COVID-19 pandemic. However, with the decreasing COVID-19 cases and large-scale vaccination programs, the liver cancer market has reached its pre-pandemic level growth.
The major factors driving the market's growth include the rising burden of liver cancer, increasing R&D investments for developing novel therapies along with government initiatives to increase cancer awareness. For instance, in May 2022, a research study published by BioMed Central Ltd stated that in India more than 40% of the total cancer burden was contributed by the seven leading cancer sites including liver cancer contributing to 4.6%. Besides, around 6% of liver cancer cases resulted in a disability-adjusted life year (DALY) in males. Thus, the increasing prevalence of liver cancer is expected to create demand for advanced diagnostics and therapeutics which is expected to contribute to the market's growth over the forecast period.
Moreover, the increasing research activities and funding in the area are further expected to boost the market growth. For instance, in February 2022, Edith Cowan University of Australia received USD 2.35 million to support a new form of radiotherapy treatment for liver cancer and to conduct trials in several locations across Australia over the next five years. Hence, the huge burden of liver cancer and its risk factors, coupled with ongoing R&D activities, is expected to boost the market's growth over the forecast period.
However, factors such as side effects associated with certain medications, the high cost of cancer therapies, and stringent regulatory scenarios are expected to restrain the market growth over the forecast period.
