Market Dynamics
Increasing incidence of global hepatocellular carcinoma cases is a major factor augmenting market growth. According to the research by International Journal of Cancer Research and Treatment, 2014, HCC is the sixth most common type of cancer worldwide and third most common cause of death worldwide, fifth for men and eighth for women. The disease accounts for more than 5% of all cancers and for 80-90% of primary liver cancers. Also, according to the Addis Ababa University, 2017, hepatocellular carcinoma (HCC) accounted to 854,000 new cases of liver cancer and 810,000 related deaths in 2015. Furthermore, increasing incidence and mortality of hepatocellular carcinoma is attributed to the emergence of new risk factors such as hepatitis B and C viral infections, metabolic disorders such as diabetes and non-alcoholic fatty liver disease, and exposure to toxins such as alcohol and aflatoxin.
Moreover, clinical advancements integrated with the approval of novel drugs by the regulatory agencies for treating hepatocellular carcinoma is augmenting growth of the market. For instance, in April 2017, the U.S. Food & Drug Administration expanded the indications of regorafenib (Stivarga) manufactured by Bayer HealthCare Pharmaceuticals Inc., for treatment of patients with hepatocellular carcinoma. The therapy showed significant improvement in survival for patients after the failure of standard treatments. Also, in 2017, the U.S. FDA granted accelerated approval for nivolumab (Opdivo) drug developed by Bristol-Myers Squibb for the treatment of hepatocellular carcinoma.
Market Trends
Increasing approval of new drugs and research activities focused on developing effective hepatocellular carcinoma therapies is expected to drive market growth during the forecast period. For instance, in May 2018, Eisai Inc. announced that the U.S. FDA approved lenvatinib capsules (Lenvima) for the first-line treatment of patients with unresectable hepatocellular carcinoma. Similarly, increasing prevalence of target diseases such as chronic hepatitis C and B infections, cirrhosis, and non-alcoholic steatohepatitis (NASH) is also projected to boost market growth. According to the World Health Organization (WHO), in 2015, the global prevalence of HCV infection was approximately 71 million people and is responsible for a significant number of hepatocellular carcinoma cases worldwide. Furthermore, rising awareness about viral hepatitis and liver cancer screening programs by government and non-governmental organizations would contribute toward early diagnosis and treatment providing a thrust to the hepatocellular carcinoma drugs market.
Hepatocellular Carcinoma Drugs Market Report Snapshots
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients