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Written by Kumar Satyam » Updated on: November 19th, 2024
Industry Key Highlights
The liver cancer therapeutics market in India is poised for significant growth, driven by a combination of factors including the increasing prevalence of liver cancer, advancements in treatment options, and rising healthcare expenditure. This detailed analysis explores the various dimensions of the market, providing insights into emerging trends, key drivers, and the competitive landscape.
Market Overview
According to the TechSci Research report, “India Liver Cancer Therapeutics Market - By Region, Competition, Forecast, and Opportunities, 2029”, the India liver cancer therapeutics market is anticipated to grow at an impressive rate during the forecast period. This growth is primarily attributed to the increasing use of anabolic steroids, which are synthetic substances that mimic the effects of testosterone in the body. These steroids are often used by athletes and bodybuilders to enhance muscle mass, strength, and performance. However, their prolonged use can lead to serious health issues, including liver damage and hepatocellular cancer.
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Liver cancer remains a significant healthcare challenge in India, with hepatocellular carcinoma (HCC) being the most common type. The condition predominantly affects men over the age of 40, and its incidence has been rising steadily. In 2020, liver cancer accounted for around 6% of all gastrointestinal cancers diagnosed in India, and the country reported 30,369 liver cancer-related deaths, representing 0.36% of all fatalities. With an age-adjusted death rate of 2.67 per 100,000 population, India ranks 175th globally in terms of liver cancer mortality.
Emerging Trends in Liver Cancer Therapeutics
Collaborations and Partnerships
One of the major trends in the India liver cancer therapeutics market is the increasing number of collaborations and partnerships. As the market becomes more competitive and complex, companies are looking for ways to collaborate and leverage each other's strengths to drive innovation and growth. These collaborations can take various forms, such as joint ventures, licensing agreements, research collaborations, and co-marketing arrangements. For instance, pharmaceutical companies may team up with academic institutions or biotech startups to develop new drugs or therapies for liver cancer. They may also partner with diagnostic companies or imaging providers to improve early detection and monitoring of liver cancer. Such partnerships can help companies gain access to new markets or distribution channels, enhancing their market reach and impact.
Key Drivers of Market Growth
Increasing Use of Anabolic Steroids
The misuse of anabolic steroids has been linked to several liver-related health problems, including liver damage, liver cancer, and other liver-related diseases. Anabolic steroids are metabolized by the liver, and prolonged use can lead to liver damage, including liver tumors and liver cancer. This factor is expected to drive the growth of the India liver cancer therapeutics market during the forecast period.
Rising Healthcare Expenditure
In 2020, India's government spent 3% of its GDP on healthcare, which is relatively low compared to other countries. However, there has been a gradual increase in healthcare spending, which is expected to continue. This increase in healthcare expenditure is likely to improve access to liver cancer treatments and drive market growth.
Technological Advancements in Treatment
Advancements in treatment options, including targeted therapies and immunotherapies, are also expected to drive market growth. These treatments offer improved efficacy and reduced side effects compared to traditional chemotherapy, making them more appealing to both patients and healthcare providers.
Challenges in the Market
Lack of Trained Professionals
One of the significant challenges faced by the India liver cancer therapeutics market is the lack of trained professionals. The diagnosis and treatment of liver cancer require specialized knowledge and skills, and there is a shortage of healthcare professionals with expertise in this area. This shortage can lead to delays in diagnosis, incorrect treatment decisions, and inadequate patient care. Additionally, the limited availability of trained healthcare professionals can make it difficult to provide quality care to patients in remote or underserved areas. Efforts are being made to address this challenge by increasing the number of training programs and specialized courses for healthcare professionals in the field of liver cancer diagnosis and treatment.
Market Segmentation
The India liver cancer therapeutics market can be segmented by cancer type, therapy, route of administration, distribution channel, and region.
By Route of Administration
Based on the route of administration, the market can be segmented into oral, intravenous, and others. The oral route of administration is one of the common routes used in India for liver cancer therapeutics. It involves the use of drugs in the form of tablets or capsules that are swallowed and absorbed in the gastrointestinal tract. Oral administration offers several advantages, including ease of use, patient compliance, and convenient dosing schedules. It is also a non-invasive method, which means that it does not require injections or other invasive procedures. Some liver cancer drugs available in India are administered orally, including sorafenib, regorafenib, and lenvatinib. However, the choice of the route of administration depends on various factors, such as the drug's pharmacokinetic properties, the patient's condition, and the treatment goals. In some cases, other routes of administration such as intravenous, intramuscular, or subcutaneous may be preferred over oral administration.
By Distribution Channel
Based on the distribution channel, the India liver cancer therapeutics market can be segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Retail pharmacies play an important role in the distribution of liver cancer therapeutics in India. These pharmacies are usually located in local communities and provide access to medication for patients with liver cancer who may not have easy access to hospital pharmacies. Retail pharmacies can also provide advice and counseling to patients regarding their medications and help to ensure adherence to treatment regimens. The growth of retail pharmacy chains in India has helped to increase access to liver cancer therapeutics in smaller towns and rural areas.
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Top 10 Companies in the India Liver Cancer Therapeutics Market
Several major companies are operating in the India liver cancer therapeutics market, contributing to its growth and development. These companies include:
These companies are actively involved in the development, production, and distribution of liver cancer therapeutics, playing a crucial role in the market's growth.
Recent Developments
Competitive Analysis
The liver cancer therapeutics market in India is highly competitive, with several key players vying for market share. Companies are focusing on strategies such as mergers and acquisitions, partnerships, and product launches to strengthen their market position. For instance, Dr. Reddy's acquisition of Mayne Pharma Group Limited's U.S. generic prescription product portfolio is expected to enhance its product offerings and competitive edge.
Future Outlook
The future outlook for the India liver cancer therapeutics market is optimistic, with significant growth expected over the next decade. This growth will be driven by factors such as the increasing prevalence of liver cancer, advancements in treatment options, and rising healthcare expenditure. Additionally, efforts to address challenges such as the lack of trained professionals and the development of innovative therapies will further propel the market forward.
10 Benefits of the Research Report
The India liver cancer therapeutics market is on a growth trajectory, driven by various factors such as the increasing use of anabolic steroids, rising healthcare expenditure, and technological advancements in treatment options. However, challenges such as the lack of trained professionals need to be addressed to ensure quality care for liver cancer patients. The market is characterized by significant competition, with major players adopting strategies such as collaborations, partnerships, and product launches to strengthen their market position. The future outlook for the market is positive, with substantial growth expected over the next decade.
“The India liver cancer therapeutics market is expected to grow during the forecast period due to the rising demand for early diagnosis with medical benefits along with the growing preference for laparoscopic and robotic surgeries across the region. During the early stage of liver cancer, the cancer is localized and has not propagated anywhere else in the body. Therefore, to avoid further growth and spread of liver cancer, the cancerous liver cells should be removed surgically. Besides, increasing concern about healthy lifestyles and growing expenditure on health and wellness are further expected to create lucrative opportunities for the growth of the market” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Liver Cancer Therapeutics Market,By Cancer Type (Hepatocellular Carcinoma, Cholangiocarcinoma, Hepatoblastoma, Angiosarcoma, and Liver Metastasis), By Therapy (Targeted Therapy, Chemotherapy and Radiation Therapy, Immunotherapy, and Others), By Route of Administration (Oral, Intravenous, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region, Competition, Forecast, and Opportunities, 2029” has evaluated the future growth potential of the India liver cancer therapeutics market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India liver cancer therapeutics market.
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