New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hepatocellular Carcinoma Drugs Global Market Report 2023" - https://www.reportlinker.com/p06486589/?utm_source=GNW
, Inc., Novartis AG, Pfizer Inc., Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., F. Hoffmann-La Roche Ltd, Gilead Sciences, Inc., and GlaxoSmithKline.
The global hepatocellular carcinoma drug market is expected to grow from $0.98 billion in 2022 to $1.07 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hepatocellular carcinoma drug market is expected to reach $1.49 billion in 2027 at a CAGR of 8.6%.
The hepatocellular carcinoma drug market consists of revenues earned by entities by providing surgery, radiofrequency ablation, and radiation therapy.The market value includes the value of related goods sold by the service provider or included within the service offering.
The hepatocellular carcinoma drug market also includes sales of cabozantinib, ramucirumab and pembrolizumab drugs used for the treatment of hepatocellular carcinoma drugs.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Hepatocellular carcinoma drug refers to a drug for primary liver cancer originating from hepatocytes, the main type of liver cells. Hepatocellular carcinoma develops in chronic liver diseases, such as chronic hepatitis B or C infection, alcoholic liver disease, non-alcoholic fatty liver disease (NAFLD), or liver cirrhosis.
North America was the largest region in the hepatocellular carcinoma drug market in 2022. The regions covered in hepatocellular carcinoma drugs report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of hepatocellular carcinoma drugs are brachytherapy and chemotherapy.Brachytherapy is a type of radiation therapy used in the treatment of cancer.
It involves the precise placement of radioactive sources directly into or near the tumor site.The radioactive sources used in brachytherapy for HCC include iodine-125 and iridium-192.
The various drug classes of hepatocellular carcinoma drugs are PD-1/PD-L1 inhibitors and tyrosine kinase inhibitors that are used in hospitals, clinics, cancer rehabilitation centers, and ambulatory surgical centers.
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.
Product innovation is a key trend gaining popularity in the hepatocellular carcinoma drugs market.Major companies operating in the hepatocellular carcinoma drugs market are focused on developing new technological and innovative solutions to strengthen their position in the market.
For instance, in May 2020, Genentech Inc., a US-based biotechnology corporation, announced that U.S. Food and Drug Administration (FDA), a US-based federal agency, approved its new drug combination of atezolizumab, an immunotherapy drug that boosts the body’s natural defenses, and bevacizumab. This anti-angiogenesis drug inhibits the growth of tumors’ blood vessels for the treatment of hepatocellular carcinoma as a first-line treatment.
In May 2020, AbbVie Inc, a US-based pharmaceutical company discovering and delivering innovative medicines, acquired Allergan plc for $63 billion.This acquisition enhances the ability to continue to deliver on AbbVie Inc’s mission to patients and shareholders, to include new growth platforms, and for immediate scale and enhanced profitability.
Allergan plc is an Ireland-based pharmaceutical company that develops, manufactures, and markets drugs for hepatocellular carcinoma from liver cirrhosis.
The countries covered in the hepatocellular carcinoma drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The hepatocellular carcinoma drugs market research report is one of a series of new reports that provides hepatocellular carcinoma drugs market statistics, including hepatocellular carcinoma drugs industry global market size, regional shares, competitors with a hepatocellular carcinoma drugs market share, detailed hepatocellular carcinoma drugs market segments, market trends, and opportunities, and any further data you may need to thrive in the hepatocellular carcinoma drugs industry. This hepatocellular carcinoma drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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