REPORT HIGHLIGHT
Liver cancer diagnostic market was valued at USD 9.35 billion by 2019, growing with 8% CAGR during the forecast period, 2020-2026
Market Dynamics
The rising incidence of liver cancer owing to heavy consumption of alcohol and unhealthy eating habits is a major factor driving the growth of the global liver cancer diagnostic market. Regular consumption of alcohol, unhygienic or spicy food can damage the liver. According to the Centers for Disease Control and Prevention (CDC), around 33,000 people are diagnosed with liver cancer every year in the U.S., of which approximately 27,000 die from the disease. Thus, the awareness regarding the early diagnosis of liver cancer is growing amongst people, which is expected to impel the market growth during the forecast period.
Moreover, healthcare professionals are getting help by the advent of multiple procedures of screening to detect the problem at an early stage. However, the dearth of skilled healthcare professionals and lack of awareness regarding technological advancements are expected to restrict market growth in the coming future.
Screening Type Takeaway
Laboratory tests segment is expected to hold the majority of share in the market during the period of forecast. These tests are further categorized into blood tests and biomarkers. Such diagnostic techniques enable healthcare professionals to ensure the presence of cancerous cells in the body. On the other hand, imaging tests allow doctors to take clear images of internal organs. This ensures the presence of tumor in the human body. Such tests include x-ray, ultrasound, computed tomography (CT), magnetic resonance imaging (MRI), and other radiographic tests. Thus, the imaging segment is anticipated to grow at a significant rate during the forecast period.
End User Takeaway
Hospital associated labs end-user segment is anticipated to subjugate the global liver cancer diagnostic industry throughout the forecast. This dominance is attributed to the rising number of hospital visits by people for conducting tests. Along with hospital-associated labs, cancer research institutes are projected to gain traction among patients and healthcare facilities. This is mainly because of continuous research carried out on the development of effective therapeutic methods. The aim of this research is to reduce the worldwide mortality rate.
Regional Takeaway
Presently, the North America region holds the majority of market share and is expected to maintain its lead throughout the forecast. This is majorly owing to well-established healthcare infrastructure and early adoption of new diagnostic approaches among medical facilities in this region. Moreover, constant R&D activities carried out by professionals to introduce effective therapeutic methods and rising base of the target population are some of the factors predicted to boost the regional market growth.
The Asia Pacific, on the other hand, is also estimated to exhibit substantial CAGR owing to a rise in the number of patients suffering from several liver problems. The healthcare infrastructure is improving in the emerging economies of China and India. Also, the treatment costs are reducing in this region, which will impel the regional market during the forecast period. In addition, the governments of the Asia Pacific countries are taking initiatives to support manufacturers of medical devices, which will likely create lucrative opportunities in the market.
Key vendors of the market include:
• Thermo Fisher Scientific.
• Siemens Healthcare GmbH
• Sysmex Corporation
• Illumina, Inc.
• F. Hoffmann-La Roche Ltd.
• Qiagen
• Danaher Corporation
The market size and forecast for each segment and sub-segments has been considered as below:
• Historical Year – 2015 to 2018
• Base Year – 2019
• Estimated Year – 2020
• Projected Year – 2026
TARGET AUDIENCE
? Traders, Distributors, and Suppliers
? Manufacturers
? Government and Regional Agencies
? Research Organizations
? Consultants
? Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL LIVER CANCER DIAGNOSTIC MARKET, BY SCREENING TYPE
? Biopsy
? Endoscopy
? Imaging
? Laboratory Tests
o Blood Tests
o Biomarkers
? Enzymes and Isoenzymes
? Pathological Biomarkers
? Oncofetal and Glycoprotein Antigens
? Growth Factors and Receptors
? Molecular Markers
GLOBAL LIVER CANCER DIAGNOSTIC MARKET, BY END USER
? Independent Laboratories
? Hospital Associated Labs
? Cancer Research Institutes
? Others
GLOBAL LIVER CANCER DIAGNOSTIC MARKET, BY REGION
? North America
o The U.S.
o Canada
? Europe
o Germany
o France
o Italy
o Spain
o United Kingdom
o Rest of Europe
? Asia Pacific
o India
o China
o South Korea
o Japan
o Singapore
o Rest of APAC
? Latin America
o Brazil
o Mexico
o Argentina
o Rest of LATAM
? Middle East and Africa
o Saudi Arabia
o United Arab Emirates
o Rest of MEA