A recent research report published by MarkNtel Advisors cites that the Global Hepatocellular Carcinoma (HCC) Market is set to register around 10.20% CAGR during 2022-27. The rising patient pool of hepatocellular cancer, owing to the rapidly rising geriatric population & lifestyle disorders like increasing alcohol intake, is driving the global market.
Besides, massive R&D investments in discovering more effective HCC therapeutics, coupled with increasing clinical trials conducted by various biotech & pharma companies for finding new HCC therapeutics, are further creating lucrative prospects for the global market through 2027.
On the other hand, due to the high dosage of drugs given to HCC patients, skin & gastrointestinal disorders, fatigue, & hair loss, among other side effects, have been observed, which might act as a growth restraint for the Global Hepatocellular Carcinoma (HCC) Market over the forecast years.
In addition, the lack of healthcare facilities that offer HCC diagnostics & treatments across rural areas in various countries worldwide is another challenge to the market growth, further states the research report, "Global Hepatocellular Carcinoma (HCC) Market Analysis, 2022."
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Increasing Demand for Laboratory Tests as HCC Diagnosis to Boost the Market through 2027
Laboratory tests, followed by imaging, are the primary & most preferred diagnosis for hepatocellular carcinoma, which attributes to their accurate results and affordability. Liver Function Test (LFT) allows healthcare professionals to know the liver condition, whereas AFP tests help identify the treatment required. These tests provide direct information on the stage of the disease, suitable treatment options, and disease response to the given therapeutics.
On the other hand, imaging tests are performed post lab tests to confirm the presence of the tumor and attain information on its nature & extent. As healthcare technologies are advancing, imaging diagnosis is able to provide more accurate & efficient results, with relatively low radiation exposure than earlier. Hence, it indicates that the demand for imaging tests for HCC diagnosis is likely to rise notably in the coming years.
Excellent Healthcare Facilities are driving the North America Hepatocellular Carcinoma (HCC) Market
Geographically, North America is home to the world's leading biotechnology & pharmaceutical companies and holds a significant share in the Hepatocellular Carcinoma (HCC) Market. The regional market growth is driven prominently by well-established healthcare infrastructure, favorable reimbursement norms, and strategic investments & collaborations by biopharma firms.
Moreover, the aging populations across different countries, coupled with the early adoption of advanced technologies in the healthcare sector, including oncology, are also promoting the market expansion for HCC across North America.
Nevertheless, Asia-Pacific is expecting exponential market growth during 2022-27, backed by the rising incidences of HBV & HCV infections across the region, increasing public awareness about the significance of early disease detection, and massive investments in making robust healthcare infrastructure.
Competitive Landscape
The key companies operating in the Global Hepatocellular Carcinoma (HCC) Market include Amgen Inc., AstraZeneca PLC, Bayer AG, BeiGene, Bristol Myers Squibb, Eisai Co., Ltd., Merck & Co., Inc., Novartis International AG, & Pfizer Inc.
Key Questions Answered in the Research Report
Market Segmentation: