Liver Cancer Diagnostics Market
Liver Cancer Diagnostics Market Size, Share & Trends Analysis by Test Type (AFP Tests for Liver Cancer Diagnostics, LFTs for Liver Cancer Diagnostics, Biopsy for Liver Cancer Diagnostics), By End-User (Hospital-associated Labs, Independent Diagnostic Laboratories) & Regional Forecast, 2021-2031
This revised research analysis on the liver cancer market by skilled analysts at Fact.MR predicts the industry to expand at a healthy CAGR of 8.2% over the next ten years. Fact.MR, a market research and competitive intelligence provider, offers in-depth insights on aspects such as risks, opportunities, growth drivers, restraints, etc. The global liver cancer diagnostics market was found to be worth US$ 10 Bn in 2020, and is expected to expand 2X by the end of 2031.
|North America Market Share||35%|
|Global Market Value by 2031||US$ 22 Bn|
|Global Market Value in 2020||US$ 10 Bn|
Demand Analysis of Liver Cancer Diagnostics (2016 to 2020) Vs Market Projections (2021 to 2031)
Instances of cancer have seen a substantial rise over the past decade, and this rise is expected to be seen through this decade as well. Liver cancer cases have seen a gradual increase as the lifestyle of people has changed drastically over the years. Prevalence of obesity due to poor eating habits is one of the major factors responsible for increase in liver cancer across the world.
Rising consumption of tobacco and alcohol is also a major lifestyle change that has promoted the disease, in turn, giving rise to more demand for effective liver cancer diagnostics. Hepatocellular carcinoma (HCC) diagnostics and liver carcinoma diagnostics are two major diagnostic methods that are in demand and expected to be prominent over the decade.
Demand for liver cancer diagnostics is anticipated to rise at a robust CAGR of 8.2% over 2021 to 2031 forecast period.
Which Technologies Related to Liver Cancer Diagnostics are Popular?
Research & development of new and advanced diagnostic solutions is always ongoing, and this is true for liver cancer diagnostic solutions as well. Innovations in liver cancer diagnostic procedures have been emerging and are expected to get only better over the next ten years.
Some of the new technologies are:
- Fluorescent In Situ Hybridization (FISH) Technology for Liver Cancer Diagnostics
- Comparative Genomic Hybridization (CGH) Technology for Liver Cancer Diagnostics
- Immunohistochemical (IHC) Technology for Liver Cancer Diagnostics
What Role Does Imaging Play in Liver Cancer Diagnostics?
Imaging plays a vital role in cancer diagnosis, as it allows medical professionals to explore the extent of tumors and their nature. Imaging for liver cancer diagnostics is also a very popular diagnostic method, and there is a wide array of imaging technologies and techniques to choose from.
Some of the imaging technologies and techniques are:
- Endoscopy for Liver Cancer Diagnostics
- Computed Tomography (CT) Scan for Liver Cancer Diagnostics
- Magnetic Resonance Imaging (MRI) Scan for Liver Cancer Diagnostics
- Ultrasound Imaging for Liver Cancer Diagnostics
- MRI Imaging Tests for Liver Cancer Diagnostics
- Laparoscopy Tests for Liver Cancer Diagnostics
Demand for imaging in liver cancer diagnostics is anticipated to be significant as imaging technology advances and becomes more accurate, efficient, and affordable. While there are some concerns regarding the constant use of imaging on the body, these constraints are expected to be ironed out as technology advances and research increases.
Demand for computed tomography (CT) scans in liver cancer diagnostics, demand for magnetic resonance imaging (MRI) scans in liver cancer diagnostics, demand for X-rays in liver cancer diagnostics, and demand for ultrasound imaging in liver cancer diagnostics are all expected to see similar growth as their adoption in various diagnostic procedures is developed.
Increase in demand for liver cancer diagnostic procedures is also expected to drive demand for endoscopy in liver cancer diagnostics and demand for laparoscopy tests in liver cancer diagnostics as their application scope increases.
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Why is Demand for Laboratory Tests in Liver Cancer Diagnostics High?
Laboratory tests for liver cancer diagnostics are many to choose from, and all of them indicate different aspects of cancer tumors. Lab tests aid in understanding and determining the causes and nature of cancer, and can be crucial in planning an effective treatment plan.
Blood tests for liver cancer diagnostics are the most common lab-based tests. Demand for AFP tests for liver cancer diagnostics is moderate, as these tests are mostly effective in determining the treatment for the disease. Demand for LFTs for liver cancer diagnostics is slightly higher than that of AFP tests, as they provide direct information on the condition of the liver.
Research is bolstering and pioneering new tests that make diagnosis more efficient, accurate, and affordable. Use of growth factors and receptors for liver cancer diagnostics, enzymes and isoenzymes biomarkers for liver cancer diagnostics, and molecular markers for liver cancer diagnostics are some major areas of research that show promise in the near future. As research progresses, we are expected to see rise in the application of these new methods and tests.
Which Regional Markets are More Lucrative for Liver Cancer Diagnostic Providers?
This research details the global liver cancer diagnostics landscape across regions such as North America, Latin America, Europe, APAC, and MEA.
North America is anticipated to dominate the market with around 35% global liver cancer diagnostics market share. Demand in Europe is predicted to rise at a steady pace over the decade. Both these regions will see high growth owing to rising adoption of advanced technology and increasing instances of liver cancer.
The APAC region is anticipated to experience the highest CAGR owing to the adoption of improved diagnostic procedures for liver carcinoma in countries such as India and China. Demand for liver cancer diagnostics in independent diagnostic laboratories in APAC is expected to see a major rise as the cost-effectiveness of diagnostic solutions increases. The MEA market is expected to witness a steady growth in demand for liver cancer diagnostics.
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What Makes the U.S. Liver Cancer Diagnostics Market a Hotspot?
The U.S. is a highly lucrative market for liver cancer diagnostics, and this can be associated with factors such as presence of prominent providers, rising prevalence of related diseases, early adoption of novel procedures, etc. Demand for liver cancer diagnostics in cancer research institutes is expected to see a rise as research in the nation picks up pace.
What is the Outlook for Manufacturers of Liver Cancer Diagnosis Instruments in China?
China is the second-largest economy in the world, and that makes it a huge market for almost everything. The nation has a rising medical tourism industry that is propelling demand for liver cancer diagnostics as well.
Sales of liver cancer diagnosis instruments are also expected to see a rise as the government is backing manufacturers with favorable funding initiatives. Manufacturers of liver cancer diagnostic instruments in China are also investing in the research & development of cost-effective solutions to boost their sales.
Why is Demand for Liver Cancer Diagnostics in Hospital-associated Labs Prominent?
Hospital-associated labs are expected to account for a majority of the revenue share in the global liver cancer diagnostics industry over the forecast period.
Increasing focus on procedures that require a medical surrounding and tests that require hospitalization, and increasing demand for biopsy for liver cancer diagnostics are some of the major factors that are propelling growth of hospital-associated labs in the market.
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COVID-19 Pandemic Evaluation
The COVID-19 pandemic of 2020 completely changed the way healthcare was approached by governments and individuals as well. In the post-pandemic era, the world is expected to see some major changes to healthcare infrastructure, and these changes would be from the fundamental blocks that were believed to be strong and effective.
From diagnosis to treatment, all aspects are expected to see major reforms with application of AI and other technological advancements to make them extremely effective. Research in the healthcare domain is being bolstered to create more effective diagnostics and treatment solutions, and the liver cancer diagnostics sector is also anticipated to follow a similar path.
Top manufacturers of liver cancer diagnosis instruments are investing in research & development that would aid in diagnosis and treatment more effectively and efficiently.
- In September 2021, India-based BDR Pharma announced the launch of the generic cancer drug called Cabozantinib. The drug is said to be helpful in the treatment of hepatocellular carcinoma and other types of cancers.
- Adaptimmune and Genetech have announced a collaboration through which they would be commercializing allogeneic T-cell therapies to treat various cancers. This collaboration could generate around US$ 3 Bn for the companies involved.
- In August 2021, 111, a digital health platform, entered into a strategic cooperation agreement with Suzhou Zelgen Biopharmaceuticals Co. to develop a virtual platform for liver cancer-affected individuals. The platform would provide patients access to online doctor consultations and medicines.
Liver Cancer Diagnostics Industry Report Scope
|Historical Data Available for||2016-2020|
|Market Analysis||Units for Volume and US$ Mn for Value|
|Key Regions Covered||
|Key Countries Covered||
|Key Market Segments Covered||
|Key Companies Profiled||
|Pricing||Available upon Request|
Key Segments Covered in Liver Cancer Diagnostics Industry Survey
By Test Type:
- AFP Tests for Liver Cancer Diagnostics
- LFTs for Liver Cancer Diagnostics
- Biopsy for Liver Cancer Diagnostics
By End User:
- Hospital-associated Labs
- Independent Diagnostic Laboratories
- Cancer Research Institutes
Liver Cancer Diagnostics Market- Scope of Report
A recent study by Fact.MR on the liver cancer diagnostics market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of liver cancer diagnostics.
The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.
A list of prominent players manufacturing liver cancer diagnostic products, along with their product portfolios, key strategies, and SWOT analysis, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including revenue growth, product enhancements, and revenue generation from liver cancer diagnostics across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account revenue through liver cancer diagnostics during the forecast period.
Analysis on Market Size Evaluation
The market has been analyzed for each market segment in terms of volume (units), and value (US$ Mn).
Market estimates at global and regional levels for liver cancer diagnostics are available in terms of “US$ Mn”. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a company can look to achieve, along with identifying potential resources, considering the revenue perspective in the global liver cancer diagnostics market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include market forces analysis, which is expected to have a momentous influence on the growth of the liver cancer diagnostics market during the forecast period.
Country-specific valuation on revenue for liver cancer diagnostics has been offered for each regional market, along with market scope estimates and forecasts, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for key countries has also been included in the report.
In-depth Analysis on Competition
The report sheds light on leading providers of liver cancer diagnostics, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the liver cancer diagnostics has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the liver cancer diagnostics market.
- FAQs -
North America is anticipated to dominate the global industry in terms of revenue with 35% market share.
Illumina Inc., Foundation Medicine Inc., Danaher Corporation Sysmex Corporation, and Biocept Inc. are key players profiled in this survey.
Hospital-associated labs are expected to account for majority of revenue share.
Rising prevalence of obesity & diabetes and increasing consumption of tobacco & alcohol are surging cancer cases, and thereby demand for liver cancer diagnostics.
Liver cancer diagnostics market growth through 2031 is anticipated to be at a CAGR of 8.2%.
Sales revenue from liver cancer diagnostics totaled nearly US$ 10 Bn in 2020.
Demand for MRI imaging tests for liver cancer diagnostics and CT scans is prominent in this marketplace.
By 2031, the global market for liver cancer diagnostics is estimated to be worth around US$ 22 Bn.
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