Hepatocellular Carcinoma Drugs Market: Rise in Mortality Associated with Liver Cancer Across the Globe to Drive the Market
Hepatocellular Carcinoma Drugs Market: Introduction
Hepatocellular carcinoma (HCC) is the most common primary liver malignancy, accounting for 75% to 80% of liver cancers worldwide. It is one of the leading causes of cancer-related deaths across the globe. Incidence of chronic liver disease is rising owing to the higher incidence of hepatitis B and hepatitis C. The prevalence of HCC is more in Asia and Africa, as compared to North America and Europe. The incidence of HCC is highest in Asia, with incidence rates in men of 35 per 100,000 populations.
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Excessive alcohol consumption leading to liver cirrhosis, viral infections such as hepatitis B and C, and lifestyle disorders are some of the major risk factors associated with the development of hepatocellular carcinoma. Hepatocellular carcinoma drugs are used to treat such life-threatening disorders. Sorafenib, nivolumab, regorafenib, lenvatinib, cabozantinib, and pembrolizumab are the latest available drugs for patients with advanced HCC.
Key Drivers, Restraints, and Opportunities of Global Hepatocellular Carcinoma Drugs Market
Increase in the incidence of hepatocellular carcinoma and rise in mortality associated with liver cancer across the globe are major factors driving the hepatocellular carcinoma drugs market. According to the American Cancer Society, nearly 42,030 new patients are likely to be diagnosed with liver cancer in the U.S. in 2019. Of these, three-fourths would be accountable for HCC.
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Similarly, approximately 31,780 liver cancer deaths are estimated to have occurred in the U.S. in 2019. Changing lifestyles, obesity, high blood pressure, diabetes, and increase in geriatric patient population are other factors that are anticipated to boost the global hepatocellular carcinoma drugs market during the forecast period.
Increase in the number of clinical trials for hepatocellular carcinoma drugs by major industry players is expected to create significant opportunities in the market from 2021 to 2031. For instance, Bayer AG, Bristol Myers Squibb, Eisai, Merck Co., & Inc., Eli Lilly, and Novartis AG are a few industry players with a strong pipeline of drugs for hepatocellular carcinoma. However, side-effects of hepatocellular carcinoma drugs and stringent regulatory scenario are expected to restrain the hepatocellular carcinoma drugs market in the next few years.
North America to Capture Major Share of Global Hepatocellular Carcinoma Drugs Market
The global hepatocellular carcinoma drugs market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for dominant share of the global market between 2021 and 2031. This is attributed to a rise in the prevalence of hepatocellular carcinoma, increase in the number of deaths associated with the disease in the U.S., and increase in the number of clinical trials undertaken by manufacturers in the country. The market in Europe is anticipated to expand at a substantial growth rate during the forecast period. Increase in the prevalence of hepatitis B and hepatitis C leading to the development of HCC in emerging countries, such as India and China, is a major factor boosting the hepatocellular carcinoma drugs market in Asia Pacific.
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Moreover, a rise in the baby boomer population and increase in prevalence of lifestyle diseases such as obesity and diabetes increase the risk of hepatocellular carcinoma. This is expected to drive the demand for hepatocellular carcinoma drugs in the region. High incidence of viral hepatitis leading to chronic liver disease in Africa is anticipated to propel the hepatocellular carcinoma drugs market in Middle East & Africa.
Key Players Operating in Global Hepatocellular Carcinoma Drugs Market
Key players operating in the global hepatocellular carcinoma drugs market are Bayer AG, Novartis AG, Bristol-Myers Squibb Company, Takeda Pharmaceutical Co. Ltd., Johnson & Johnson, Exelixis, Eisai, Merck & Co., Inc., Pfizer Inc., GlaxoSmith Kline, Celgene Corporation, Teva Pharmaceutical Industries Ltd. and Amgen, among others. Market players focus on investments in R&D to develop novel drugs for the effective treatment of hepatocellular carcinoma in order to expand their product portfolio and strengthen their geographical reach.
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Major Players operating in the global hepatocellular carcinoma drugs market are:
- Bayer AG
- Novartis AG
- Bristol-Myers Squibb Company
- Takeda Pharmaceutical Co. Ltd.
- Johnson & Johnson, Exelixis
- Merck & Co., Inc.
- Pfizer Inc.
- GlaxoSmith Kline
- Celgene Corporation
- Teva Pharmaceutical Industries Ltd.
- Exelixis, Inc.
- Merck & Co., Inc.
- Eli Lilly and Company
- SillaJen, Inc.
- Janssen Global Services, LLC
- CELGENE CORPORATION
- F. Hoffmann-La Roche Ltd
- Gilead Sciences, Inc.
- Takeda Pharmaceutical Company Limited,
- Polaris Pharmaceuticals
- Hepion Pharmaceuticals
- PROVECTUS BIOPHARMACEUTICALS, INC.
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