2024 Hepatocellular Carcinoma Drugs Market Summary: 5 Key Findings
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What Growth Projections are in Place for the Hepatocellular Carcinoma Drugs Market Between 2024-2033?
There has been robust growth in the hepatocellular carcinoma drugs market in the past few years. It is projected to expand from $1.07 billion in 2023 to about $1.17 billion by 2024, with a compound annual growth rate (CAGR) of 9.5%. The historically observed growth can be credited to a boost in disease prevalence, advancements in oncology research, upgrades in worldwide healthcare infrastructure, regulatory authorizations, as well as initiatives aiming at raising awareness and promoting early diagnosis.
The market size of drugs for hepatocellular carcinoma is predicted to experience robust expansion in the upcoming years, reaching a value of $1.62 billion in 2028 with a compound annual growth rate (CAGR) of 8.5%. This growth, expected through the forecast period, is due in part to the progression of targeted therapies, a rise in the elderly population, the trend towards personalized healthcare, and worldwide treatment accessibility. Key trends forecasted in the period include accessibility to innovative therapies, focus on patient-oriented care, development in regulatory landscapes, strategies to counter drug resistance, and joint research efforts.
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What Are the Major Factors Contributing to the hepatocellular carcinoma drugs Market Expansion?
The increasing frequency of hepatocellular carcinoma is seen as a driving force for the growth of the hepatocellular carcinoma drug market in the years ahead. Hepatocellular carcinoma, or HCC, represents the most predominant form of liver cancer, being a primary malignancy originating from hepatocytes, the primary type of liver cells. The majority of HCC cases stem from hepatitis B or C infections or cirrhosis. As the incidences of hepatocellular carcinoma keep upsurging, there is a surging demand for effective drugs in the market to combat the disease. For example, in 2023, the American Cancer Society, Inc – a nationwide volunteer health association in the US dedicated to cancer elimination – estimated a rise in new cases of liver cancer in females, with numbers increasing from 12,660 in 2022 to 13,230 in 2023. Hence, the escalating incidences of hepatocellular carcinoma are propelling the hepatocellular carcinoma drug market’s expansion.
Which Key Segments Shape the Hepatocellular Carcinoma Drugs Market?
1) By Type: Brachytherapy, Chemotherapy
2) By Drug Class: PD-1/PD-L1 Inhibitors, Tyrosine Kinase Inhibitors
3) By End User: Hospitals, Clinics, Cancer Rehabilitation Centers, Ambulatory Surgical Centers
What Are the Transformative Trends Influencing the Hepatocellular Carcinoma Drugs Market?
Large companies in the hepatocellular carcinoma drugs market are focusing on developing lab-engineered compounds like monoclonal antibodies (mAb) to expand their consumer audience and increase their sales and revenues. Monoclonal antibody (mAb) is a lab-engineered molecule that can imitate the immune system’s defense mechanisms against harmful pathogens, such as bacteria and viruses. For example, in October 2022, AstraZeneca Plc, a UK-based pharmaceutical and biotech firm, received approval from the US Food and Drug Administration (FDA) for the use of Imjudo (tremelimumab) in combination with Imfinzi (durvalumab) for adult patients with hepatocellular carcinoma (HCC). Imfinzi (durvalumab) distinguishes itself as a unique human monoclonal antibody that binds effectively to the PD-L1 protein, preventing PD-L1’s interaction with PD-1 and CD80 proteins and interrupting the tumor’s ability to evade the immune system, thus activating immune responses. Meanwhile, Imjudo (tremelimumab) is a human monoclonal antibody that targets the cytotoxic T-lymphocyte-associated protein 4 (CTLA-4) function. By inhibiting CTLA-4 activity, Imjudo encourages T-cell activation, triggers the immune system’s response to cancer, and promotes the death of cancer cells.
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What Regions Are Leading the Growth Trajectory of the Hepatocellular Carcinoma Drugs Market?
North America was the largest region in the hepatocellular carcinoma drug market in 2023. The regions covered in the hepatocellular carcinoma drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Hepatocellular Carcinoma Drugs Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the hepatocellular carcinoma drugs market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Hepatocellular Carcinoma Drugs Market Include
1. Hepatocellular Carcinoma Drugs Market Executive Summary
2. Hepatocellular Carcinoma Drugs Market Segments
3. Hepatocellular Carcinoma Drugs Market Size And Template Market Growth Rate
4. Key Hepatocellular Carcinoma Drugs Market Trends
5. Major Hepatocellular Carcinoma Drugs Market Drivers
……
25. Key Mergers And Acquisitions In The Hepatocellular Carcinoma Drugs Market
26. Top Hepatocellular Carcinoma Drugs Companies
27. Hepatocellular Carcinoma Drugs Market Opportunities And Strategies
28. Hepatocellular Carcinoma Drugs Market, Conclusions And Recommendations
29. Appendix
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