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Hepatocellular Carcinoma Drugs Market 2024 Technology Scouting, Industry Insights, Business Outlook And Key Players Analysis Till 2033
Hepatocellular Carcinoma Drugs Market Growth
According to The Business Research Company's, The hepatocellular carcinoma drugs market size has grown strongly in recent years. It will grow from $1.07 billion in 2023 to $1.17 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to increased disease incidence, advancements in cancer research, global healthcare infrastructure improvement, regulatory approvals, awareness and early diagnosis initiatives..
The hepatocellular carcinoma drugs market size is expected to see strong growth in the next few years. It will grow to $1.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to targeted therapies advancements, increasing geriatric population, healthcare personalization trends, global expansion of treatment access.. Major trends in the forecast period include access to innovative therapies, patient-centric care, regulatory advancements, drug resistance mitigation strategies, collaborative research initiatives..
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Market Drivers and Trends:
The rise in the occurrence of hepatocellular carcinoma is expected to propel the growth of the hepatocellular carcinoma drug market over the coming years. Hepatocellular carcinoma (HCC) is a primary malignant disease of the liver and the most common form of liver cancer. Hepatocellular carcinoma starts with the main type of liver cells called hepatocyte cells. Most cases of HCC result from infection with hepatitis B or C, or cirrhosis. As the occurrence of hepatocellular carcinoma continuing to rise, it leads to an increased demand for effective hepatocellular carcinoma drugs to treat the disease. For instance, in 2023, according to the report published by the American Cancer Society, Inc, a US-based nationwide voluntary health organization dedicated to eliminating cancer, estimated new cases of liver cancer in females diagnosed in the United States increased from 12,660 in 2022 to 13,230 in 2023. Therefore, the rise in the occurrence of hepatocellular carcinoma is driving the growth of the hepatocellular carcinoma drug market.
Major companies operating in the hepatocellular carcinoma drugs market are developing laboratory-produced molecule such as monoclonal antibodies (mAb) to meet larger customer bases, more sales, and increase revenue. A monoclonal antibody (mAb) is a laboratory-produced molecule that is engineered to mimic the immune system's ability to fight off harmful pathogens such as bacteria or viruses. For instance, in October 2022, AstraZeneca Plc, a UK-based pharmaceutical and biotechnology company, announced the US Food and Drug Administration (FDA) approval for Imjudo (tremelimumab) in combination with Imfinzi (durvalumab) Indicated for adult patients with hepatocellular carcinoma (HCC). Imfinzi (durvalumab) is a distinctive human monoclonal antibody that effectively binds to the PD-L1 protein. By doing so, it hinders the interaction between PD-L1 and the PD-1 and CD80 proteins. This action disrupts the tumor's evasion of the immune system, releasing the inhibition of immune responses. As for Imjudo (tremelimumab), it stands out as a human monoclonal antibody designed to specifically target the activity of cytotoxic T-lymphocyte-associated protein 4 (CTLA-4). Imjudo works by blocking CTLA-4 activity, thereby promoting T-cell activation, priming the immune response against cancer, and fostering the death of cancer cells.
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Major Key Players of the Market:
AbbVie Inc.; Amgen Inc.; Bayer AG; Bristol-Myers Squibb Company; Celgene Corporation; Eisai Co.Ltd.; Eli Lilly and Company; Johnson & Johnson; Merck & Co. Inc.; Novartis AG; Pfizer Inc.; Takeda Pharmaceutical Company Limited; Teva Pharmaceutical Industries Ltd.; F. Hoffmann-La Roche Ltd; Gilead Sciences Inc.; GlaxoSmithKline; Exelixis Inc.; Ipsen Pharma Biotech SAS; AstraZeneca plc; BeiGene Ltd.; Ono Pharmaceutical Co. Ltd.; Roche Holdings AG; Sanofi S.A.; Astellas Pharma Inc.; Daiichi Sankyo Company Limited; Otsuka Pharmaceutical Co. Ltd.; Kyowa Kirin Co. Ltd.; Sumitomo Dainippon Pharma Co. Ltd.; TTY Biopharm Company Limited; Hengrui Medicine Co. Ltd.; CSPC Pharmaceutical Group Limited; Hutchison China MediTech Limited; Jiangsu Hengrui Medicine Co. Ltd.
Hepatocellular Carcinoma Drugs Market 2024 Key Insights:
• The hepatocellular carcinoma drugs market will grow to $1.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%.
• Rising Occurrence Of Hepatocellular Carcinoma Fuels Growth In The Hepatocellular Carcinoma Drug Market
• Laboratory-Produced Molecule In The Hepatocellular Carcinoma Drugs Market
• North America was the largest region in the hepatocellular carcinoma drug market in 2023
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