Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Hepatocellular Carcinoma Drugs Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global hepatocellular carcinoma drugs market 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 expansion observed in the historical period can be attributed to factors such as increased disease incidence, advancements in cancer research, improvements in global healthcare infrastructure, regulatory approvals for new treatments, and initiatives focused on awareness and early diagnosis. North America was the largest region in the hepatocellular carcinoma drug market in 2023.
The global hepatocellular carcinoma drugs market 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 anticipated growth in the forecast period can be attributed to advancements in targeted therapies, the increasing geriatric population, trends in healthcare personalization, and the global expansion of treatment access. Key trends expected in the forecast period encompass access to innovative therapies, a focus on patient-centric care, advancements in regulatory measures, strategies to mitigate drug resistance, and collaborative research initiatives in the field of hepatocellular carcinoma drugs.
The hepatocellular carcinoma drug market is expected to witness substantial growth in the coming years due to the increasing incidence of hepatocellular carcinoma (HCC), the most common form of liver cancer. According to a 2023 report by the American Cancer Society, the estimated new cases of liver cancer in females in the United States increased from 12,660 in 2022 to 13,230 in 2023, highlighting the need for advancements in hepatocellular carcinoma drugs.
The growth of the hepatocellular carcinoma drugs market is further propelled by the increasing prevalence of hepatitis, an inflammatory condition of the liver linked to chronic hepatitis B (HBV) and hepatitis C (HCV) infections. As of April 2022, the European Centre for Disease Prevention and Control reported a notable number of hepatitis cases in various countries, including the UK, the US, Israel, and Japan. This escalating prevalence of hepatitis is a significant factor driving the growth of the hepatocellular carcinoma drugs market.
Major companies in the market are focusing on developing laboratory-produced molecules, particularly monoclonal antibodies (mAb). Monoclonal antibodies are engineered to mimic the immune system's ability to combat pathogens. AstraZeneca's FDA approval for Imjudo (tremelimumab) in combination with Imfinzi (durvalumab) for hepatocellular carcinoma treatment is a notable example of such developments. Imfinzi, a human monoclonal antibody targeting PD-L1, and Imjudo, targeting CTLA-4, work synergistically to enhance the immune response against cancer cells.
Leading companies in the hepatocellular carcinoma drugs market are actively creating innovative products, including liver cancer medications, to cater to larger customer bases, boost sales, and enhance overall revenue. Drugs for liver cancer encompass a diverse range of pharmaceutical interventions aimed at treating and managing the disease. As an example, in October 2022, Eli Lilly and Company, a pharmaceutical firm based in the United States, announced the approval of Cyramza (ramucirumab) by the National Medical Products Administration (NMPA) for the treatment of hepatocellular carcinoma in China. Cyramza is the first novel medicine to receive approval following a specific evaluation in a biomarker-enriched population of hepatocellular carcinoma (HCC) patients with alpha-fetoprotein (AFP) levels exceeding 400 ng/ml. The study results in Chinese patients demonstrated a consistent efficacy and safety profile comparable to the global population. This approval is expected to positively impact the clinical approach to liver cancer in China by introducing a new and effective treatment option for advanced HCC among Chinese patients.
In August 2023, Novartis AG, a pharmaceutical company based in Switzerland, completed the acquisition of Chinook Therapeutics Inc. for a deal valued at $3.2 billion. Through this strategic acquisition, Novartis aims to leverage the combined resources and expertise to advance the development of promising treatments for individuals with rare and severe chronic kidney diseases. The integration of the Chinook team is anticipated to bolster Novartis in expanding its portfolio related to renal conditions and contribute to its ongoing commitment to redefine medicine. Chinook Therapeutics Inc., headquartered in the United States, specializes in developing treatments for rare and severe chronic kidney disorders, including hepatocellular carcinoma (HCC).
Report Scope
Markets Covered:
- By Type: Brachytherapy; Chemotherapy
- By Drug Class: PD-1/PD-L1 Inhibitors; Tyrosine Kinase Inhibitors
- By End User: Hospitals; Clinics; Cancer Rehabilitation Centers; Ambulatory Surgical Centers
Key Companies Mentioned: AbbVie Inc.; Amgen Inc.; Bayer AG; Bristol-Myers Squibb Company; Celgene Corporation
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
A selection of companies mentioned in this report includes:
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/ovcsd4
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