Liver cancer is the form of cancer wherein tissues of liver are affected by hepatitis B or hepatitis C virus. Cancer formed in the tissues of liver is termed as primary liver cancer, while the cancer which spreads to the liver from other parts of the body is known as secondary liver cancer.
Fact.MR, in its recent study, projects the global liver cancer diagnostics market to register a steady expansion at 5.5% CAGR during the forecast period 2017 to 2022. In 2017, the global market for liver cancer diagnostics is expected to reach nearly US$ 700 Mn in revenues.
Hospital Associated Labs
Independent Diagnostic Laboratories
Cancer Research Institutes
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
Prevalence of Liver Cancer to be reduced by Hepatitis Immunization and Lifestyle Modification
Liver cancer, the fifth most common cancer, accounted for 9.1% deaths among all cancer patients worldwide in 2012. Poor survival rate and extremely aggressive nature attributed to liver cancer has made this disease to become an imperative health issue around the world. Various risk factors have been associated with liver cancer, which include hepatitis B virus (HBV), exposure to dietary aflatoxin, alcohol-induced cirrhosis, diabetes, obesity, and infection associated with hepatitis C virus (HCV). As these risk factors are modifiable, a strong prospect has been offered for reducing its prevalence and mortality with the help of preventive strategies including hepatitis immunization and lifestyle modification.
Liver cancer, or, hepatocellular carcinoma (HCC) has been observed to cause a large number of deaths annually. In a bid to prevent liver cancer from reaching the final stage, scientists around the world have developed a slew of improved diagnostic solutions. Newer techniques are being developed for the diagnosis of hepatocellular carcinoma, rendering both partial hepatectomy, and liver transplant safer and more effective. Global leading medical instrument manufaturers are focusing on the development of new novel instruments in order to diagnose liver cancer completely. These factors are estimated to drive growth of the global liver cancer diagnostics market during the forecast period.
North America to Remain Dominant in the Global Liver Cancer Diagnostics Market
North America is expected to remain dominant in the global liver cancer diagnostics market, in terms of revenues. In addition, the markets for liver cancer diagnostics in North America and Europe are estimated to exhibit a parallel expansion at 5.6% CAGR through 2022. In contrast, markets in Japan and MEA are expected to exhibit a sluggish expansion during the forecast period.
Based on test type, biopsy test segment is expected to register the highest CAGR in the market through 2022, followed by LFTs. AFP test is estimated to remain preferred for liver cancer diagnostics in the global market. Revenue from AFP test is expected to account for over half share of the market in 2017, and is estimated to gain 52 BPS in its market share between 2017 and 2022.
Hospital-associated Labs to Remain Sought-after for Liver Cancer Diagnostics
Hospital-associated labs will continue to be sought-after for liver cancer diagnostics across the globe. Liver cancer diagnostics in hospital-associated labs will account for the largest revenues by 2022-end. Independent diagnostic laboratories will remain the second most lucrative end-users in the global liver cancer diagnostics market. In addition, liver cancer diagnostics in cancer research institutes are expected to register the fastest expansion over the forecast period.
The report has also profiled leading players in the global liver cancer diagnostics market, which include Illumina, Inc., Foundation Medicine, Inc., Danaher Corporation
Sysmex Corporation, and Biocept, Inc.
Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR
Medical organizations as well as leaders in the global pharmaceuticals industry are stepping up their efforts towards development of profound diagnosis for liver cancer. Rising number of deaths caused by liver cancer is taking a toll on governments as people are demanding precision diagnosis and a cure-all for this terminal disease. In a bid to adapt to the urban rat race, millions of consumers have adopted lifestyles that are stemming the occurrence of liver cancer. For public administration authorities, compelling people to avoid such lifestyles is like challenging the status quo. The burden of controlling the incidence of liver cancer gets passed on to hospitals & medical research organizations as they strive to develop novel diagnostic and therapeutic procedures.
The report on the global market for liver cancer discusses such key factors that govern the economics of liver cancer diagnostics across the globe. Some of the key influences for the growth of global liver cancer diagnostics market include:
- rising presence of carcinogenic elements in common consumables
- surging exposure to toxic substances in factories & industrial settings
- lack of awareness related to causes, symptoms, and preventive measures for liver cancer
- high healthcare costs, deterring liver cancer patients from seeking optimum diagnosis
With growing incidence of liver cancer, the future generations will witness a more accessible, affordable, and diagnosis-associated treatment for liver cancer. As liver cancer research organizations & societies struggle to develop effective medications in tight-budgeted capitals, governments are deploying initiatives that boost the awareness of liver cancer.
Need for Premeditated Liver Cancer Patient Compliance
Liver cancer patients are often riddled with confusing options for diagnosis. Choosing the right screening test can become a dilemma for the patient and his/her family. Companies manufacturing medical instruments and devices for diagnosis of liver cancer are expected to mitigate such difficulties by facilitating a well-laid patient compliance regime.
The global market for liver cancer diagnostics is anticipated to witness significant impact from diagnosis-associated patient compliance trials. Positive attitudes of patients towards certain diagnosis alternatives is decisive in changing future undertakings. Prominent diagnostic tools are likely to be replaced with their upgraded variants. The report has highlighted the influence of government undertakings in offering a better compliance for diagnosis of liver cancer patients.
Key players in the global liver cancer diagnostics market are collaborating with regional health ministries and medical administrators for gauging the impact of therapeutic diagnosis on liver cancer patients. Such cooperative efforts are of paramount importance in the global liver cancer diagnostics market, where overlooking the plausible aftereffects of diagnostic procedures can cost lives.
Liver Cancer diagnostics market – Regional Overview & Competitive Backdrop
A comprehensive section on the regional analysis of global liver cancer diagnostics market is included in the report. North America, Europe, Japan, Asia-Pacific excluding Japan (APEJ), Latin America, and Middle East & Africa are key regions into which the expansion of global liver cancer diagnostics market is studied. Developed markets with robust healthcare infrastructures are deemed lucrative for patients seeking diagnosis for liver cancer. On the other hand, higher resource availability, cheap wages, and lenient manufacturing regulations in developing regions attract the attention of manufacturers of liver cancer diagnosis instruments.
In the report, there is an elaborate section on the competitive landscape of global liver cancer diagnostics market. This part profiles key players in the global market, which includes leading manufacturers of diagnostic devices and related medical apparatus. The scalability employed in profiling these players includes criteria such as the company’s contribution to global liver cancer diagnostics market revenues, recent mergers & acquisitions involving the company, and new product launches. Through this report, companies can also understand the investment standpoint in the global liver cancer diagnostics market, which can be further inferred while taking insightful actions.
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