Liver Cancer Therapeutics Market Size and Share
Liver Cancer Therapeutics Market Analysis by Mordor Intelligence
The liver cancer therapeutics market is valued at USD 4.35 billion in 2025 and is forecast to reach USD 10.27 billion by 2030, achieving an 18.76% CAGR. Strong momentum arises from dual-checkpoint immunotherapy approvals, rapid uptake of targeted agents, and broader reimbursement for combination regimens that unite systemic and locoregional modalities. Expanded screening programs, AI-enabled diagnostics, and radiopharmaceutical innovation continue to enlarge the treatable patient pool, while digital pharmacies reshape drug access. Competitive intensity heightens as large pharmaceutical companies acquire radiopharma specialists and partner with manufacturing technology firms to shorten production cycles. Asia-Pacific’s high hepatitis B prevalence and widening health-care coverage position the region as the leading growth contributor, whereas North America retains scale advantages through established clinical trial infrastructure and first-in-class launches.
Key Report Takeaways
- By cancer type, hepatocellular carcinoma held 75.45% of the liver cancer therapeutics market share in 2024, while hepatoblastoma is projected to expand at a 19.49% CAGR to 2030.
- By therapy class, chemotherapy commanded 31.23% share of the liver cancer therapeutics market size in 2024; targeted therapy is advancing at a 19.56% CAGR through 2030.
- By age group, adults accounted for 59.87% of the liver cancer therapeutics market size in 2024, whereas the geriatric segment is growing at a 19.07% CAGR between 2025-2030.
- By distribution channel, hospital pharmacies led with 62.18% revenue share in 2024; online pharmacies are set to grow at a 19.43% CAGR to 2030.
- By geography, North America captured 40.12% of the liver cancer therapeutics market share in 2024, while Asia-Pacific records the fastest regional CAGR at 19.29% through 2030.
Global Liver Cancer Therapeutics Market Trends and Insights
Drivers Impact Analysis
Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
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Surge in incidence of hepatocellular carcinoma | +4.2% | Asia-Pacific, Sub-Saharan Africa | Long term (≥ 4 years) |
First-line approvals of dual checkpoint combos | +3.8% | North America, EU, spill-over to APAC | Medium term (2-4 years) |
NAFLD/NASH conversion in obese cohorts | +3.1% | North America, EU, Middle East | Long term (≥ 4 years) |
Reimbursement for TACE-IO protocols | +2.9% | US, Germany, Japan | Medium term (2-4 years) |
AI-enabled ultrasound & liquid-biopsy uptake | +2.4% | North America, EU, pilots in APAC | Short term (≤ 2 years) |
VC-backed radiopharma pipelines | +2.2% | US, Europe manufacturing hubs | Medium term (2-4 years) |
Source: Mordor Intelligence
Surge in Incidence of Hepatocellular Carcinoma (HCC)
Global hepatocellular carcinoma cases are projected to climb 53.8%, from 905,347 in 2020 to 1,392,474 by 2040, anchoring long-term demand for treatment solutions [1]Qianqian Guo, "Projected epidemiological trends and burden of liver cancer by 2040 based on GBD, CI5plus, and WHO data," Scientific Reports, nature.com. Asia-Pacific shoulders roughly three-quarters of chronic hepatitis B infections, while Mongolia registers the world’s highest age-standardized incidence. Rising metabolic dysfunction-associated steatotic liver disease (MASLD) in high-income economies adds a second growth pillar as obesity-linked HCC cases escalate, especially among younger cohorts in Northern Europe and parts of Asia. These epidemiologic shifts ensure durable expansion of the liver cancer therapeutics market, reinforced by ageing populations and extended life expectancy in China, Japan, and Western Europe
Expanding First-Line Approvals of Drug Combos
The April 2025 FDA approval of nivolumab plus ipilimumab reset global first-line standards, yielding a 23.7-month median overall survival versus 20.6 months for sorafenib or lenvatinib monotherapy. Europe ratified the regimen two months later, triggering rapid guideline updates across national health systems. Positive EMERALD-1 and LEAP-012 readouts further validated integrating checkpoint inhibitors with anti-VEGF or locoregional treatments, lifting adoption curves and accelerating payer assessments. As reimbursement frameworks adapt, premium-priced combinations enlarge revenue pools and intensify R&D competition.
Rapid NAFLD and NASH Conversion into HCC in Obese Cohorts
NAFLD now affects nearly 30% of adults globally. FDA’s March 2024 clearance of resmetirom, the first NASH therapy, confirms commercial viability for agents that intercept fibrosis and HCC progression. Patients with NASH face a higher liver cancer risk, and diabetes compounds malignant transformation rates. Digital therapeutics such as the NASH App report high disease-activity improvement, suggesting telehealth can complement pharmacologic care.
Wider Reimbursement for Loco-Regional TACE-IO Protocols
Medicare, Japan’s SHI, and Germany’s statutory funds now reimburse TACE combined with immunotherapy after studies showed high durable remission rates in advanced HCC. China’s 2024 NRDL tender reduced prices of innovative oncology drugs by a large margin, widening access for combination regimens. United States CMS policy in 2025 permits separate payment for costly diagnostic radiopharmaceuticals, incentivizing precision imaging and treatment planning.
Restraints Impact Analysis
Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
---|---|---|---|
Severe immune-related adverse events in cirrhotics | -2.8% | Regions with advanced cirrhosis burden | Short term (≤ 2 years) |
High attrition in late-phase HCC trials | -2.1% | Global, notable in biotech-led programs | Medium term (2-4 years) |
Sub-optimal surveillance in low-HDI nations | -1.9% | Sub-Saharan Africa, Southeast Asia, Latin America | Long term (≥ 4 years) |
Price ceilings in China’s NRDL | -1.6% | China, spill-over to other emerging markets | Medium term (2-4 years) |
Source: Mordor Intelligence
Severe Immune-Related Adverse Events (irAEs) in Cirrhotics
Checkpoint inhibitor hepatotoxicity appears in 12.9% of cirrhotic patients, prompting 18% discontinuation in the nivolumab–ipilimumab arm of CheckMate-9DW. Geriatric cohorts show heightened vulnerability, necessitating biomarkers that predict irAE risk to maintain treatment uptake.
High Attrition in Late-Phase Trials
Tumor heterogeneity, underlying liver dysfunction and stringent endpoints contribute to elevated late-stage failure rates. FDA withdrawals of unverified oncology indications underscore the imperative for confirmatory evidence, pressuring biotech financing cycles and dampening near-term pipeline visibility.
Segment Analysis
By Cancer Type: Dominance of HCC and Rapid Pediatric Gains
Hepatocellular carcinoma secured a 75.45% stake in the liver cancer therapeutics market in 2024, validating its role as the principal value driver. This dominance reflects both incidence rates and the weight of R&D capital directed toward checkpoint combinations and anti-angiogenic backbones. The April 2025 dual-checkpoint approval intensified competitive differentiation and expanded frontline choices. Cholangiocarcinoma remains a smaller but strategically important niche where fast-track designations for tumor-infiltrating lymphocyte products illustrate regulatory appetite for cell-based innovation.
Hepatoblastoma, though rare, is advancing at a 19.49% CAGR, buoyed by improved imaging and molecular profiling that allow early surgical candidacy and enrollment in pediatric immunotherapy trials. Gene-expression studies propel precision dosing, and CAR-T exploration for pediatric solid tumors introduces potentially curative options. This tail-segment acceleration diversifies revenue sources and spurs partnerships with academic centers specializing in pediatric oncology.
Note: Segment shares of all individual segments available upon report purchase
By Therapy: Targeted Agents Redefine Clinical Algorithms
Chemotherapy retained 31.23% of the liver cancer therapeutics market size in 2024 due to widespread availability and low acquisition cost, especially in resource-constrained regions. Yet, targeted therapy is growing at a 19.56% CAGR as oncologists prioritize precision over cytotoxicity. Atezolizumab–bevacizumab and durvalumab-bevacizumab combinations demonstrate sustained progression-free benefits, supporting expanded guideline listings. Radiopharmaceuticals, including actinium-225 constructs from RayzeBio, broaden the targeted spectrum with highly localized alpha-particle lethality.
Immunotherapy’s rise drives the shift toward multimodal regimens that integrate stereotactic radiation and transarterial procedures, enabling deeper responses while sparing healthy parenchyma. Chemotherapy now features primarily in combination schedules or as bridging therapy awaiting immuno-targeted initiation.
By Age Group: Geriatric Needs Shape Protocols
Adults held 59.87% of the liver cancer therapeutics market size in 2024, reflecting demographic heft and established screening programs. The geriatric segment, however, grows at 19.07% CAGR owing to rising life expectancy and MASLD prevalence. Clinical data reveal that lenvatinib [2]Haohao Lu, "RALOX-HAIC (raltitrexed + oxaliplatin) combined with lenvatinib improves survival and safety in elderly patients with unresectable hepatocellular carcinoma," BMC Cancer, bmccancer.biomedcentral.com paired with a hepatic-artery infusion regimen (RALOX-HAIC) extends survival in patients older than 70 years without escalating toxicity.
Geriatric protocols emphasize low-grade irAE management and telehealth monitoring. Remote platforms reduce hospital visits, important for mobility-limited seniors. Pediatric care advances in tandem with tumor-specific antigen targeting and institutional networks facilitating multicenter trials.
Note: Segment shares of all individual segments available upon report purchase
By Distribution Channel: Digital Dispensing Accelerates
Hospital pharmacies addressed 62.18% of prescriptions in 2024, maintaining dominance through embedded oncology practices and immediate administration capabilities. Yet online pharmacies are expanding swiftly at a 19.43% CAGR as telemedicine mainstreams follow-up care. Partnerships such as Onco360’s exclusive dispensing of new targeted agents highlight the strategic role of specialty e-pharmacies.
Telepharmacy regulations enacted during the pandemic remain in place, supporting cross-state prescription fulfillment in the United States. AI chatbots handle adherence queries and adverse-event triage, improving outcomes and reducing pharmacist workload.
Geography Analysis
North America commanded 40.12% of global revenue in 2024, buoyed by early checkpoint inhibitor uptake, generous insurance coverage, and leading clinical-trial density. FDA’s [3]Food and Drug Administration (FDA), "FDA approves nivolumab with ipilimumab for unresectable or metastatic hepatocellular carcinoma," fda.gov Project Orbis fosters simultaneous multinational review, accelerating first-in-class access for United States patients and partners in Canada and Australia. Inflation Reduction Act price-negotiation provisions, however, may curb list-price growth, encouraging companies to optimize launch sequencing.
Asia-Pacific is projected to post a 19.29% CAGR through 2030, the fastest worldwide. China, holding more than 50% of incident cases, blends steep NRDL price reductions with rising urban insurance penetration, which expands volume to offset constrained margins. Japan and South Korea supply robust investigator networks, with roughly half of global HCC trials enrolling at Asia-Pacific sites, reducing development timelines.
Europe maintains consistent uptake supported by centralized health-technology assessments and pathway harmonization. EMA’s endorsement of dual-checkpoint regimens streamlines regional reimbursement. Latin America and the Middle East deliver emerging upside as public–private partnerships expand radiotherapy capacity and viral-hepatitis elimination drives surveillance.

Competitive Landscape
The liver cancer therapeutics market hosts a balanced mix of multinational incumbents and agile biotechs. Bristol Myers Squibb’s USD 4.1 billion acquisition of RayzeBio anchors its move into actinium-225 radioligand therapy targeting solid tumors, including HCC. Roche and AstraZeneca reinforce leadership through broad immunotherapy portfolios, while Amgen and Tempest Therapeutics pursue bispecific T-cell engagers and small-molecule immune modulators.
AI-powered drug discovery partnerships proliferate; Cellares’ integrated manufacturing platform, joined by Bristol Myers Squibb, aims to industrialize cell therapy production and cut batch variability. Chinese innovators accelerate global competition with checkpoint combinations tailored to HBV-related HCC, gaining rapid NRDL listing after positive pivotal data.
Patent cliffs emerge for first-generation TKIs, stimulating biosimilar entries that could lower barriers in cash-pay markets. White-space opportunities persist in pediatric and ultra-rare hepatic tumors, where fast-track pathways and orphan pricing bolster return prospects.
Liver Cancer Therapeutics Industry Leaders
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Bristol‑Myers Squibb Company
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Eisai Co., Ltd.
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Exelixis Inc
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Merck & Co. Inc.
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Bayer AG
- *Disclaimer: Major Players sorted in no particular order

Recent Industry Developments
- April 2025: FDA approved nivolumab plus ipilimumab for unresectable or metastatic HCC in adults.
- March 2025: European Commission granted centralized authorization for nivolumab–ipilimumab in first-line unresectable HCC, based on CheckMate-9DW data.
- February 2025: Tempest Therapeutics received FDA fast-track designation for amezalpat combination therapy in hepatocellular carcinoma.
- September 2024: Eisai and Merck announced LEAP-012 results showing lenvatinib plus pembrolizumab with TACE improved progression-free survival to 14.6 months versus 10.0 months for TACE alone.
Global Liver Cancer Therapeutics Market Report Scope
Liver cancer is cancer that begins in the liver cells. It is a chronic, life-threatening, and progressive disorder that begins in the cells of the liver. Liver cancer can be of different types, such as cancer that begins in hepatocyte cells, known as primary hepatic cancer, and cancer that spreads to the liver from other parts of the body, known as metastatic cancer.
The liver cancer therapeutics market is segmented by type (hepatocellular carcinoma, cholangiocarcinoma, hepatoblastoma, and other types), therapy (targeted therapy, radiation therapy, immunotherapy, and chemotherapy), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally.
The report offers the value (USD) for the above-mentioned segments.
By Cancer Type | Hepatocellular Carcinoma | ||
Cholangiocarcinoma | |||
Hepatoblastoma | |||
Other Primary Liver Cancers | |||
By Therapy | Targeted Therapy | ||
Immunotherapy | |||
Chemotherapy | |||
Radiation Therapy | |||
By Age Group | Adults | ||
Geriatric | |||
Pediatric | |||
By Distribution Channel | Hospital Pharmacies | ||
Retail Pharmacies | |||
Online Pharmacies | |||
By Geography | North America | United States | |
Canada | |||
Mexico | |||
Europe | Germany | ||
United Kingdom | |||
France | |||
Italy | |||
Spain | |||
Rest of Europe | |||
Asia-Pacific | China | ||
Japan | |||
India | |||
Australia | |||
South Korea | |||
Rest of Asia-Pacific | |||
Middle East and Africa | GCC | ||
South Africa | |||
Rest of Middle East and Africa | |||
South America | Brazil | ||
Argentina | |||
Rest of South America |
Hepatocellular Carcinoma |
Cholangiocarcinoma |
Hepatoblastoma |
Other Primary Liver Cancers |
Targeted Therapy |
Immunotherapy |
Chemotherapy |
Radiation Therapy |
Adults |
Geriatric |
Pediatric |
Hospital Pharmacies |
Retail Pharmacies |
Online Pharmacies |
North America | United States |
Canada | |
Mexico | |
Europe | Germany |
United Kingdom | |
France | |
Italy | |
Spain | |
Rest of Europe | |
Asia-Pacific | China |
Japan | |
India | |
Australia | |
South Korea | |
Rest of Asia-Pacific | |
Middle East and Africa | GCC |
South Africa | |
Rest of Middle East and Africa | |
South America | Brazil |
Argentina | |
Rest of South America |
Key Questions Answered in the Report
What is the current size of the liver cancer therapeutics market?
The market is valued at USD 4.35 billion in 2025 and is projected to reach USD 10.27 billion by 2030.
How fast is the liver cancer therapeutics market growing?
It is expanding at an 18.76% CAGR, positioning it among the fastest-growing oncology categories.
Which therapy class is showing the highest growth?
Targeted therapy is the fastest-growing class, advancing at a 19.56% CAGR through 2030.
Which region offers the greatest growth potential?
Asia-Pacific posts the highest regional CAGR at 19.29%, driven by large hepatitis B populations and improving health-care access.
What recent regulatory milestone changed first-line treatment standards?
The FDA’s April 2025 approval of nivolumab plus ipilimumab established a dual-checkpoint immunotherapy option for treatment-naïve advanced HCC patients.
How are distribution channels evolving for liver cancer drugs?
Online pharmacies are growing at a 19.43% CAGR, supported by telemedicine, while hospital pharmacies remain the largest sales channel.