Liver Cancer Diagnostics Market - By Test Type (Laboratory Test, Imaging Test, Biopsy, Endoscopy, Genomic Test), By End-use (Hospitals, Diagnostic Laboratories, Academic and Research Institutes), & Forecast, 2023 – 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationLiver Cancer Diagnostics Market Size
Liver Cancer Diagnostics Market size recorded USD 10.5 billion in 2022 and is likely to witness 7% CAGR from 2023 to 2032. This incremental growth rate is owing to increasing prevalence of liver cancer and other chronic conditions in line with rising awareness and screening programs targeting high-risk populations.
Technological advancements pertaining to liver cancer diagnostics and screening procedures has influence the product adoption rate in several healthcare facilities. Increasing awareness and initiatives to cater to appropriate diagnostic treatments and clinical benefits offered by liver cancer diagnostics will propel the market growth.
Manufacturers are focusing on providing a wide range of diagnostic products, including imaging technologies, biomarker tests, genetic profiling, and liquid biopsy solutions for liver cancer detection and monitoring. Screening programs targeting high-risk populations help in early detection, leading to improved patient outcomes. Thus, increasing investments aim to develop novel biomarkers, improve imaging techniques, and government initiatives enhance the overall diagnostic accuracy thereby fueling the liver cancer diagnostics market growth.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Liver Cancer Diagnostics Market Size in 2022 | USD 10.5 billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 7% |
| 2032 Value Projection | USD 20.7 billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 160 |
| Tables, Charts & Figures | 275 |
| Segments covered | Test Type, End-use, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
|
High-cost diagnostic tests may pose financial challenges for patients, especially those without adequate insurance coverage or in regions with limited healthcare resources. The affordability barrier may prevent some individuals from accessing timely liver cancer diagnostics, leading to delayed or missed diagnoses. High-cost diagnostic tests can strain healthcare systems and budgets, particularly in countries with limited healthcare resources. Reimbursement policies and coverage limitations by healthcare payers can also contribute to the cost constraint.
COVID-19 Impact
Imagine thiswhen the COVID-19 pandemic hit, it was like a tidal wave that crashed into the healthcare system. One of the markets that took a hard hit was liver cancer diagnostics. During the early days of the pandemic, the virus was spreading like wildfire, and hospitals were overwhelmed. They had to focus all their energy and resources on treating COVID patients. As a result, many non-urgent procedures and screenings, like liver cancer diagnostics, got put on hold. This meant that fewer people were getting tested for liver cancer, which is a serious disease. People who might've been able to catch the cancer early may have missed out on that chance. This delay in diagnosis could have serious consequences for their long-term health.
The outbreak of COVID-19 pandemic disrupted the spectrum of cancer care, as screening program and services were suspended or decreased in many countries. The liver cancer diagnostics industry relies on the availability of diagnostic tests, reagents, and equipment. The global supply chain disruptions caused by COVID-19, including manufacturing delays, transportation restrictions, and increased demand for certain medical supplies, negatively affected the availability and timely delivery of liver cancer diagnostic products. Reducing COVID-19 infection rates and patients, as well as increased procedural volume, are predicted to aid market growth.
Liver Cancer Diagnostics Market Trends
Liver cancer is becoming more and more common, and this is driving up the need for ways to diagnose it. The big culprits behind this rise in liver cancer are chronic infections with two nasty viruseshepatitis B and hepatitis C. These viruses are a big deal worldwide. Millions of people have them, and they can really damage your liver over time. If you have chronic hepatitis B or C, you're at a much higher risk of getting liver cancer. Studies show that a quarter of people with chronic hepatitis B end up with liver cancer later on. So, as more and more people get these infections, more and more people will need ways to check for liver cancer. That means there's going to be a bigger demand for tests and tools that can spot liver cancer early on.
The way we've been living has taken a toll on our health. Eating too much junk food, not moving enough, and drinking too much alcohol have become all too common. It's no surprise then that diseases like diabetes and cancer are on the rise. Especially concerning is the growing number of people becoming overweight or obese. This, along with a condition called metabolic syndrome, is making liver cancer more common. That's why we need better ways to diagnose liver cancer early on, so we can catch it before it gets too serious. Early detection makes a big difference in how well we can treat liver cancer. The demand for liver cancer diagnostics is growing because we want to find and assess it as early as possible, so that we can choose the best treatment and give people the best chance of a good outcome.
Liver Cancer Diagnostics Market Analysis
Based on test type, the market is segmented as laboratory test, imaging test, biopsy, endoscopy, genomic test and others. The laboratory test segment dominated the liver cancer diagnostics market accounting over 32% revenue share in 2022. Laboratory tests for liver cancer diagnostics provide several benefits in the detection, diagnosis, and monitoring of hepatocellular carcinoma. Laboratory tests, such as blood tests and biomarker assays, can aid in the early detection of liver cancer. These tests can identify specific markers or molecules that are associated with liver cancer, even before symptoms manifest.
Early detection allows for timely intervention and treatment, which can improve patient outcomes and increase the chances of successful treatment. Laboratory tests play a crucial role in screening high-risk individuals for liver cancer and in surveillance for individuals with chronic liver diseases. For instance, individuals with chronic hepatitis B or C infections, alcoholic liver disease, or non-alcoholic fatty liver disease (NAFLD) may undergo regular liver function tests and biomarker tests to monitor liver health and detect any signs of liver cancer development.
Laboratory tests aid in staging liver cancer and determining the extent of disease spread. Biomarker tests, such as alpha-fetoprotein (AFP) and des-gamma-carboxy prothrombin (DCP), can provide information about tumor markers and help assess the prognosis of liver cancer patients. These tests assist healthcare providers in making informed decisions regarding treatment options and disease management. Laboratory tests in liver cancer diagnostics provide valuable information for early detection, screening, differential diagnosis, disease staging, treatment monitoring, and personalized medicine thereby augmenting the market growth.
Based on end-use, the liver cancer diagnostics market is segmented as hospitals, diagnostic laboratories, academic and research institutes and others. The hospitals segment captured a majority market share and is poised to grow at 7% CAGR through 2032. High adoption rates for technologically advanced biopsy, mammography, and other devices utilized in treatment of liver cancer will increase the number of diagnosis carried out in hospital settings. Availability of skilled professionals to operate advanced cancer diagnosis equipment as well as favorable reimbursement policies for liver cancer diagnosis procedures performed in hospital settings will surge the segment revenue.
Hospitals are adopting advanced diagnostic technologies such as biomarker assays, genetic profiling, and liquid biopsy techniques to improve the quality of patient care and outcomes. The management of liver cancer often requires a multidisciplinary approach involving various medical specialties, including hepatology, radiology, pathology, and oncology.
Hospitals are adopting liver cancer diagnostics to support collaboration and coordination among different departments, enabling accurate diagnosis, staging, and treatment planning. Furthermore, factors such as increase in the number of liver cancer diagnostic procedures and the availability of highly skilled healthcare professionals together with robust healthcare infrastructure and appropriate patient assistance that are complementing the growth of the hospitals segment positively. Thus, access to better treatment and diagnosis, combined with the increased prevalence of liver cancer, is expected to increase patient visits to hospitals, propelling segment revenue.
Liver cancer diagnosis has been thriving in North America, with the region commanding a hefty slice of the global market, worth $4.4 billion in 2022. This dominance stems from the high prevalence of risk factors like hepatitis B and C, excessive alcohol consumption, and the growing epidemic of non-alcoholic fatty liver disease. These factors are fueling the rise in liver cancer cases, driving the need for efficient diagnostic tools to catch the disease early and intervene swiftly. To keep pace with this demand, technological innovations in cancer detection methods, solid government support for advanced diagnostic solutions, and robust R&D efforts by industry leaders are fueling the industry's progress.
Growing awareness among people regarding early disease diagnosis, availability of advanced healthcare infrastructure along with high healthcare expenditure will stimulate North America liver cancer diagnostics market growth. Aging population, increased awareness of preventive healthcare, and advancements in liver cancer diagnostics techniques is anticipated to boost the market growth. Thus, supporting initiatives aimed at improving healthcare outcomes, rising healthcare expenditure, and increasing disease prone population would drive the regional market revenue share positively.
Liver Cancer Diagnostics Market Share
Some of the major players operating in the liver cancer diagnostics market are
- AB SCIEX
- Agilent Technologies Inc.
- Becton
- Dickinson & Company
- Biocare Medical, LLC
- bioMérieux SA
- Bio-Rad Laboratories, Inc
- Danaher Corporation
- Epigenomics Ag
- F. Hoffmann-La Roche Ltd.
- General Electric Company
- Hoffmann La-Roche Ltd.
- Hologic, Inc.
- Johnson & Johnson
- Koninklijke Philips N.V.
- Qiagen N.V.
- Seimens Healthineers
- Sysmex Corporation
- Thermo Fisher Scientific, Inc.
These leading market players are implementing advanced technologies to cater to the large unmet needs of the consumers. These players focus on strategic partnerships, new product launch & commercialization for market expansion.
Liver Cancer Diagnostics Industry News
- In January 2023, Fujifilm Corporation announced the acquisition of Inspirata, Inc., a company engaged in digital pathology business. This acquisition helped the company to streamline care delivery for oncology patients and provider teams. This strategic move helped the company to enhance their R&D capabilities and increase their business revenue.
- In February 2019, Abbott Laboratories announced that they had received the CE Mark approval for their Determine HBsAg 2, a rapid diagnostic test for the detection of hepatitis B surface antigen. This test highly sensitive, easy-to-use, rapid lateral flow test enables identification of hepatitis B virus (HBV) thereby enabling the detection and pre diagnosis of liver cancer among high-risk patients. This approval helped the company to enhance their customer base and increase their geographic presence.
This Liver cancer diagnostics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments
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By Test Type
- Laboratory Test
- Biomarkers
- Blood Tests
- Imaging Test
- Biopsy
- Endoscopy
- Genomic Test
- Others
By End-use
- Hospitals
- Diagnostic Laboratories
- Academic and Research Institutes
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- Sweden
- The Netherlands
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Thailand
- Philippines
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
- Egypt
- Turkey
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