Market Overview
The Global Hepatocellular Carcinoma (HCC) Market was valued at USD 977 million in 2022. It is projected to reach USD 2.4 billion by 2031, growing at a CAGR of 12.2% (2024–2031). The market is expanding due to a strong pipeline, active clinical trials, and higher R&D spending. HCC is the most common primary liver cancer and is rising worldwide.
HCC has high morbidity and mortality. Early detection can increase the five-year survival rate by more than 60%. As a result, the demand for early screening tools and better treatment options is increasing. North America leads the market, driven by rapid research growth and strong healthcare investment.
Leading players such as Novartis AG, Roche, Bristol Myers Squibb, and others continue to intensify competition and innovation in the market.
Market Scope
| Metrics | Details |
|---|---|
| CAGR | 12.2% |
| Size Available For Years | 2022–2031 |
| Forecast Period | 2024–2031 |
| Data Availability | Value (US$) |
| Segments Covered | Treatment Type, End User |
| Regions Covered | North America, Europe, Asia-Pacific, South America, Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights | Competitive Landscape, Company Profiles, Market Size & Share, Growth Drivers, Recent Developments, M&A, New Drug Launches, Strategy Analysis, Pricing, Regulatory Landscape, Supply Chain |
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Market Dynamics
1. Growing Focus on Early Diagnosis
Efforts to improve early detection of HCC are driving market growth. The American Association for the Study of Liver Diseases (AASLD) recommends screening at-risk individuals, including people with cirrhosis.
Key points:
- Early screening improves survival and reduces HCC-related deaths.
- HCC has complex genetic and environmental factors, making detection difficult.
- Ultrasound with or without AFP biomarker testing is widely used.
- New technologies such as NGS, liquid biopsy, biomarkers, AI, and molecular imaging show strong potential for earlier detection.
2. Increase in New Product Launches & Clinical Trials
R&D growth is creating new market opportunities. Many large companies are investing in clinical trials and biomarker-based therapies.
Notable development:
- May 29, 2023 – Alkem Laboratories launched Cetuxa, the first biosimilar of Cetuximab for head and neck cancer. It aims to improve affordability and patient access.
3. Challenges: Limited Diagnostics & Treatment Side Effects
Barriers slowing market growth:
- Lack of reliable diagnostic tools results in repeated testing and higher patient costs.
- Chemotherapy drugs may cause anemia, infections, and low blood cell counts.
- HCC is genetically complex, making diagnosis and treatment more difficult.
- Current screening methods often fail to detect early and recurring disease.
Segmentation Analysis
By Treatment Type
Chemotherapy accounts for 36.7% of the market share. This segment is expected to grow due to ongoing clinical studies.
Examples of ongoing trials:
- Phase 3 Trial (Sun Yat-sen University): Sorafenib + hepatic arterial infusion chemotherapy vs TACE + Sorafenib.
- Tislelizumab + HIPEC + targeted therapy for high-risk HCC patients (Hunan Provincial People’s Hospital; completion by July 2025).
Geographical Share
North America – 37.2% Market Share
North America leads due to:
- Strong presence of major pharmaceutical companies
- Expanding healthcare investments
- High awareness of new HCC therapies
- Growth in biopharma research centers
- Continuous new product development
- Increasing adoption of advanced treatment methods
These factors support North America’s dominant market position.
Major Key Players
- Teva Pharmaceutical Industries Ltd.
- Bristol Myers Squibb
- Novartis AG
- Bayer AG
- F. Hoffmann-La Roche Ltd.
- Polaris Pharmaceuticals Inc.
- Creative Diagnostics
- Harbour BioMed
- Merck & Co. Inc.
Impact Analysis
Russia–Ukraine Conflict
The conflict has minimal impact on the global HCC market due to:
- Low regional prevalence of HCC
- Limited presence of major manufacturers
- Minor influence on raw material supply chains
Key Developments
- May 26, 2023 – Harbour BioMed presented Phase Ib results of porustobart (HBM4003) + toripalimab for HCC at ASCO 2023.
- Sept 10, 2022 – BeiGene’s Tislelizumab showed non-inferior OS vs Sorafenib in Phase III RATIONALE 301 trial.
- Aug 3, 2022 – LEAP-002 trial: KEYTRUDA + LENVIMA showed OS and PFS improvements, though primary endpoints were not met compared to LENVIMA alone.
Why Purchase the Report?
- Clear visualization of market segmentation by treatment, end user, and region
- Identification of commercial opportunities and co-development trends
- Excel sheet with detailed market data
- Comprehensive PDF analysis based on primary and secondary research
- Excel product mapping for all major players
- Includes 53 tables, 54 figures, and 195 pages
Target Audience (2023)
- Manufacturers
- Buyers
- Investors & Investment Bankers
- Research Professionals
- Emerging Companies
