The South Korea liver cancer treatment market size stood at around USD xx billion in 2020 and is projected to reach xx billion by 2028, exhibiting a CAGR of around 7.5% during the forecast period.
Several types of cancer can form in the liver. The most common type of liver cancer is hepatocellular carcinoma, which begins in the main type of liver cell (hepatocyte). Other types of liver cancer, such as intrahepatic cholangiocarcinoma and hepatoblastoma, are much less common. The major risk factors for HCC are chronic infection with hepatitis B or hepatitis C virus, which is regarded as a potential precursor of a tumour, as is cirrhosis of the liver, a pathological change in the liver tissue involving shrinkage.
Hepatocellular carcinoma (HCC) is the fifth most common cancer in men in Korea, where the prevalence of chronic hepatitis B infection is high in middle-aged and elderly patients. According to GLOBOCAN report 10926 new cases of liver cancer were reported in men in 2020. Liver cancers have the second highest death rate (12.6%) after lung cancers in Korea.
South Korea reported 14788 new cases of liver cancer in 2020 (sixth highest) and the five-year prevalence rate according to GLOBOCAN report was 58.34 per 100,000. This rising burden of liver cancer along with the soaring geriatric population are the primary drivers for the market growth. Other factor responsible for propelling the market are, increase in R&D and investment in development of novel therapies, increase in associated risk factors like type 2 diabetes, hepatitis, obesity, alcohol consumption and smoking in the people.
Symptoms of liver cancer are very mild in early stages; hence the diagnosis tends to get delayed which in turn restrain the market growth. High capital investment and low success rate in clinical trials also contribute to impede the market growth.