Latest Study on “Liver Cancer Diagnostics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030”.
Latest Study on “Liver Cancer Diagnostics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030”.
The global Liver Cancer Diagnostics market size is expected to be worth around USD 22.18 billion by 2030, according to a new report by Nova one advisor.
The global Liver Cancer Diagnostics market size was valued at USD 11.0 billion in 2021 and is anticipated to grow at a CAGR of 9.6% during forecast period 2022 to 2030.
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Key Takeaways:
- By test type, the laboratory tests segment emerged as the largest segment in 2021 owing to its increased demand for effective diagnosis of hepatocellular carcinoma
- Based on end use, the hospitals and diagnostic laboratories segment accounted for the leading revenue share during the forecast period, as they are the primary centers for the diagnosis and treatment of all chronic diseases
- North America dominated the market and accounted for the largest revenue share in 2021. The improved awareness about hepatocellular carcinoma and high adoption of novel technologies are facilitating the dominance of this region during the forecast period
- In Asia Pacific, the market is estimated to show the fastest growth during the study period. This high growth can be attributed to the presence of a huge target population and developing healthcare infrastructure in emerging countries
The rising prevalence of liver cancer and the introduction of innovative diagnosis products are propelling the market growth.
According to the data published by Globocan, liver cancer was the 6th most common type of cancer and, in 2020, around 905,677 new cases of this life-threatening disease were diagnosed, globally, which lead to around 830,180 deaths. The most common cause of liver cancer is chronic (long-term) infection with Hepatitis C Virus (HCV) or Hepatitis B Virus (HBV). As per the WHO’s estimates, globally, around 71.0 million people have chronic HCV infection. As per the same source, in 2016, around 399,000 people died from cirrhosis and primary liver cancer related to HCV infection. Such a high prevalence and mortality rate of the disease has significantly upsurged the demand for innovative diagnostic solutions for its timely diagnosis, thus, supporting market growth.
Furthermore, continuous technological advancements in the field of oncology diagnostics and increased access to more efficient diagnosis tools are anticipated to support the market growth throughout the forecast period. In September 2020, Genetron Holdings Limited, a China-based oncology diagnostics company, received the FDA’s Breakthrough Device designation for HCCscreen, a blood-based next-generation sequencing (NGS) test. This newly launched test is designed for early detection of hepatocellular carcinoma (HCC) in patients who are suspected to be at high risk for HCC due to liver cirrhosis and/or chronic HBV infection.
Moreover, continuous public-private initiatives in several countries to increase screening for early diagnosis of various cancers, including liver cancer, are expected to create a conducive environment for market growth. In 2019, Saudi Arabia’s Ministry of Health announced to undertake several initiatives including, advancements of screening programs, improving awareness about cancers, and establishing new oncology centers across the region. In 2019, Cleveland Clinic Abu Dhabi announced to introduce an enhanced range of liver cancer services in the country to address the growing demand.
Report Scope of the Liver Cancer Diagnostics Market
| Report Coverage | Details |
| Market Size | USD 22.18 Billion by 2030 |
| Growth Rate | CAGR of 9.6% from 2022 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Test type, end-use and Region, |
| Companies Mentioned | Abbott Laboratories; F. Hoffmann-La Roche Ltd.; Qiagen N.V.; Thermo Fisher Scientific, Inc.; Siemens Healthineers; Becton Dickinson & Company; Illumina, Inc.; Koninklijke Philips N.V; Epigenomics AG; Fujifilm Medical Systems U.S.A., Inc. |
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Test Type Insights
In 2021, the laboratory tests segment dominated the market for liver cancer diagnostics and accounted for the largest revenue share of 41.9%. The segment is projected to grow at the fastest rate during the forecast period. This large share and growth can be attributed to the high preference for laboratory tests due to their accuracy and cost-efficiency. Laboratory tests are also used to screen high-risk patients, identify various treatment options, pinpoint disease stages, and evaluate if the disease is responding to treatment.
The imaging tests segment accounted for the second-largest revenue share and is anticipated to show significant growth throughout the study period. Imaging tests can be supportive tests for laboratory and genetic tests that help confirm the presence of a tumor. Imaging tests include Computed Tomography (CT) scan, Magnetic Resonance Imaging (MRI) scan, X-ray, ultrasound, and other radiographic tests. However, one of the limitations of imaging tests is that radiation exposure can cause various adverse effects due to the ingestion of fluorescent and radioactive materials that are used for image formation.
End-use Insights
The hospitals and diagnostic laboratories segment dominated the market for liver cancer diagnostics in 2021 and accounted for the largest revenue share of 83.9%. Hospitals are primary care settings for the diagnosis and treatment of medical conditions including hepatocellular carcinoma. The majority of the population relies on these long-term facilities for diagnosis, management, and treatment of diseases. Furthermore, diagnostic laboratories provide cost-effective and highly sensitive results in a short time. Thus, are highly preferable in developed as well as emerging economies.
The pharmaceutical and CRO laboratories segment is anticipated to witness the fastest CAGR during the forecast period. This high growth can be attributed to the high demand for liver diagnostics solutions by leading pharmaceutical companies for research purposes. In addition, the growing demand for cost-effective CRO services in the field of hepatocellular carcinoma research is further expected to support the segmental growth.
Regional Insights
North America dominated the liver cancer diagnostics market and accounted for the largest revenue share of 41.8% in 2021 and is projected to remain dominant throughout the forecast period. The dominance of this region is attributed to its well-established healthcare infrastructure, excellent healthcare insurance policies, and high adoption of innovative diagnostic tests. In addition, the local presence of leading players and continuous strategic initiatives by them further supports the regional growth. The U.S. dominates the market share in North America due to the higher prevalence of hepatocellular carcinoma and high awareness of its early detection.
In the Asia Pacific, the market for liver cancer diagnostics is expected to exhibit the highest growth throughout the study period. This high growth can be attributed to the high prevalence of Hepatitis in emerging countries including India and China. Other factors influencing the market growth are increasing government initiatives to increase awareness regarding early detection of liver cancer and rising alcohol and tobacco consumption in the region.
Some of the prominent players in the Liver Cancer Diagnostics Market include:
- Abbott Laboratories
- F. Hoffmann-La Roche Ltd.
- Qiagen N.V.
- Thermo Fisher Scientific, Inc.
- Siemens Healthineers
- Becton Dickinson & Company
- Illumina, Inc.
- Koninklijke Philips N.V.
- Epigenomics AG
- Fujifilm Medical Systems U.S.A., Inc.
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Liver Cancer Diagnostics market
- Test Type
- Laboratory Tests
- Biomarkers
- Oncofetal and Glycoprotein Antigens
- Enzymes and Isoenzymes
- Growth Factors and Receptors
- Molecular Markers
- Pathological Biomarkers
- Blood Tests
- Biomarkers
- Imaging Tests
- Endoscopy
- Biopsy
- Others
- Laboratory Tests
- End-use
- Hospitals & Diagnostic Laboratories
- Academic & Research Institutes
- Pharmaceutical & CRO Laboratories
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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