Press release
Global Advanced Liver Cancer Market Projected to Surpass $3.78 Billion by 2029 with 15% Annual Growth
The market for advanced liver cancer has experienced swift expansion in the recent past. The market, which is expected to escalate from $1.89 billion in 2024 to $2.17 billion in 2025, will grow at a compound annual growth rate (CAGR) of 15.2%. Factors contributing to this growth in the historic period include a heightened awareness of liver cancer, a rise in the number of patients, an increased need for targeted therapies, enhancements in healthcare infrastructure, and a growing preference for minimally invasive treatments.
In the upcoming years, the market for advanced liver cancer is set to experience substantial growth, escalating to $3.78 billion in 2029 with a compound annual growth rate (CAGR) of 14.8%. This predicted growth within the forecast period is due to factors such as the rising occurrence of liver cancer, growing healthcare expenditure, increasing prominence of genetic conditions, escalating preference for precision medicine, and higher implementation of screening and diagnostic tests. Key trends that will shape the forecast period encompass the incorporation of artificial intelligence in treatment, the invention of novel drugs and treatments, increasing research and development activities, advancements in targeted therapeutics, and a surging demand for personalized medicine.
What Is Contributing to the Growth of the Advanced Liver Cancer Market?
The growth in the advanced liver cancer market is forecasted to be fuelled by the increasing prevalence of long-term hepatitis infections. These persistent viral infections, which last for over six months, can cause liver damage, cirrhosis, or liver cancer. Factors such as insufficient screening and vaccination and delayed treatment access contribute to the rise in long-term hepatitis infections. Chronic hepatitis B (HBV) or hepatitis C (HCV) infections serve as key contributors to liver cirrhosis and hepatocellular carcinoma (HCC), the most frequent type of liver cancer. Persistent viral infections may trigger liver inflammation and damage, eventually leading to cancer over time. With the continued prevalence of these infections, more people are faced with the risk of developing advanced liver cancer. To illustrate, the World Health Organization, a Switzerland-based intergovernmental organization, reported in April 2024 that chronic hepatitis B affected 254 million people globally in 2022, with an annual incidence of 1.2 million new cases. Hence, the escalating prevalence of long-term hepatitis infections propels the upward trajectory of the advanced liver cancer market.
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Which Key Market Leaders Are Driving Advanced Liver Cancer Industry Growth?
Major companies operating in the advanced liver cancer market are Pfizer Inc., F. Hoffmann-La Roche AG, Merck Co. Inc., Bayer AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca plc, Novartis AG, Eli Lilly and Company, Stryker Corporation, Agilent Technologies Inc., Eisai Co. Ltd., Jiangsu Hengrui Pharmaceutical Co. Ltd, Exelixis Inc., Sirtex Medical Limited, Eureka Therapeutics, Abbisko Therapeutics Co. Ltd., Binhui Biopharmaceutical Co. Ltd., Tempest Therapeutics Inc., Auransa Inc., Mina Alpha Limited.
What Are the Emerging Trends in the Advanced Liver Cancer Industry?
Leading firms in the advanced liver cancer market are funneling their efforts into the research and development of breakthrough medications, such as human monoclonal antibodies, with the objective of enhancing the effectiveness of treatments and reducing adverse effects, thereby improving patient outcomes. A human monoclonal antibody is a laboratory-engineered molecule designed to emulate the immune system's role in fighting harmful pathogens or cancer cells by targeting their specific antigens and thereby initiating an immune response. For example, in October 2022, the American pharmaceutical giant AstraZeneca announced that the US Food and Drug Administration (FDA) granted approval for the use of Imjudo (tremelimumab) in conjunction with Imfinzi (durvalumab), for treating adults afflicted with unresectable hepatocellular carcinoma (HCC), the predominant type of liver cancer. This approval was predicated upon results gleaned from the HIMALAYA Phase III trial, which underscored that this combined treatment decreased the mortality risk by 22% vis-à-vis sorafenib, with about 31% of patients surviving beyond three years compared to the 20% survival rate among those who received sorafenib. Termed as STRIDE, this regimen incorporates a single administration of Imjudo, followed by periodic infusions of Imfinzi every four weeks, thereby presenting patients faced with scarce treatment alternatives with a new therapeutic solution.
What Are the Main Segments in the Advanced Liver Cancer Market?
The advanced liver cancer market covered in this report is segmented -
1) By Test Type: Imaging Test, Biopsy, Genomic Test, Other Test Types
2) By Technology: Fluorescent In Situ Hybridization, Next Generation Sequencing, Fluoroimmunoassay, Comparative Genomic Hybridization, Immunohistochemical, Other Technologies
3) By Distribution Channel: Direct Tenders, Retail Sales, Other Distribution Channel
4) By Application: Screening, Diagnostic And Predictive, Prognostic, Research
5) By End-User: Hospitals, Cancer Research Centers, Academic Institutes, Diagnostic Centers, Ambulatory Surgical Centers, Other End-Users
Subsegments:
1) By Imaging Test: Ultrasound, CT (Computed Tomography) Scan, MRI (Magnetic Resonance Imaging), PET (Positron Emission Tomography) Scan
2) By Biopsy: Needle Biopsy, Laparoscopic Biopsy, Surgical Biopsy
3) By Genomic Test: Next-Generation Sequencing (NGS), PCR (Polymerase Chain Reaction) Testing, Genetic Mutation Profiling
4) By Other Test Types: Serum Biomarker Testing, Liver Function Tests, Alpha-Fetoprotein (AFP) Test, Elastography Tests
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Which Geographic Area Leads the Advanced Liver Cancer Market?
North America was the largest region in the advanced liver cancer market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the advanced liver cancer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Advanced Liver Cancer Global Market Report?
- Market Size Analysis: Analyze the advanced liver cancer Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the advanced liver cancer Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the market.
- Market Contribution: Evaluate contributions of different segments to the overall advanced liver cancer market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the advanced liver cancer market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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