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Liver Cancer Diagnostics Market Size and Growth Forecast, 2022-2028 Global Industry Share, Segmentation and Technology Trends – Introspective Market Research

Liver Cancer Diagnostics

Liver Cancer Diagnostics

Market Overview:

The Liver Cancer Diagnostics Market was estimated at USD 11.59 billion in 2021 and is projected to reach USD 17.78 billion by 2028, growing at a CAGR of 6.3%.

Cancer that starts in the cells of the liver is termed liver cancer. The liver is a football-sized organ located in the upper right abdomen, beneath the diaphragm, and above the stomach. Several cancers can originate in the liver. Hepatocellular carcinoma is the most frequent type of liver cancer, and it starts in the major type of liver cell (hepatocyte). Other kinds of liver cancer are significantly less prevalent, such as intrahepatic cholangiocarcinoma and hepatoblastoma. Liver cancer develops when the DNA of liver cells undergoes mutation uncontrollably. The DNA of a cell is the material that contains the instructions for all chemical processes in the body. DNA mutations induce changes in these instructions. As a result, cells may abnormally proliferate and finally form a tumor, which is a mass of cancerous cells. In some cases, such as with chronic hepatitis infections, the cause of liver cancer is known. However, liver cancer can occur in persons who have no underlying diseases, and the cause remains unknown. There has been a rise in the population of drinkers, smokers, and obese people. These people are more prone to develop liver cancer in their life thus, an increasing number of these people will propel the growth of the liver cancer diagnostics market over the forecasted timeframe.

Major Key Players for Liver Cancer Diagnostics Market:

  • Abbott Laboratories (US)
  • Becton Dickinson and Company (US)
  • Hoffmann-La Roche Ltd (Switzerland)
  • FUJIFILM Wako Diagnostics U.S.A. Corporation (US)
  • Hologic (US)
  • Illumina Inc. (US)
  • Koninklijke Philips (Netherlands)
  • Oncimmune Holdings Plc (UK)
  • Qiagen (Germany)
  • Siemens Healthineers (Germany)
  • Sirtex Medical Ltd. (US)
  • Thermo Fischer Scientific Inc. (US)
  • BDR Pharmaceuticals International Pvt. Ltd. (India) and other major players.

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Market Dynamics and Factors:

Diagnostics for hepatocellular carcinoma (HCC) and liver carcinoma are the two main diagnostic procedures that are in high demand and are projected to remain so during the analysis period. According to Statista, global alcohol consumption per capita is expected to reach 8.1 liters by 2025. Furthermore, according to the WHO’s annual report, liver cancer accounted for 830,000 cancer deaths in 2020. Hepatitis B is also human papillomavirus (HPV) type that raises the risk of liver cancer. All of these factors point to an increase in the number of people diagnosed with liver cancer in the coming years. As a result, demand for liver cancer diagnostics is expected to rise over the forecast period, bolstering the market’s expansion.

Liver Cancer Diagnostics Market Report Highlight:

  • By diagnosis technique, the imaging segment is anticipated to have the highest share of the liver cancer diagnostics market over the forecasted timeframe. HCC can be detected early on using imaging techniques, however, pathological evidence can lead to a false-negative result. This feature of imaging technology can assist healthcare professionals in detecting and eliminating liver cancer at an early stage, hence supporting the growth of the imaging segment over the analysis period.
  • By end-user, the hospital segment is expected to lead the development of the liver cancer diagnostic market in the projected period. Hospitals are regarded as primary healthcare service providers in every economy. Every country has hospitals that are backed by government funding in order to provide healthcare facilities to every individual are affordable prices. Moreover, government initiatives have made cancer treatment less expensive for instance, the government of India’s – National Programme for Prevention and Control of Cancer, Diabetes, Cardiovascular Diseases, and Stroke (NPCDCS).
  • The European region is predicted to dominate the liver cancer diagnostic market over the forecasted timeframe attributed to the growing drinking population. According to the World Health Organization, the European region is accountable for the largest proportion of global ill health and premature death owing to alcohol consumption. Furthermore, the European region is the world’s heaviest-drinking region, with more than one-fifth of Europeans aged 15 and up reporting heavy episodic drinking at least once a week. Excessive drinking is one of the major factors responsible for liver cancer thus, supporting the development of the liver cancer diagnostic market over the projected timeframe.

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Key Industry Development:

In November 2021, In ACUSON Sequoia, Siemens Healthineers has added two new features that will aid in comprehensive liver assessment by quantifying liver tissue stiffness and hepatic fat in a single acquisition. The combination of these features may aid clinicians in streamlining patient care pathways and avoiding unnecessary and invasive medical intervention.

In September 2021, Genentech announced that it is partnering with Adaptimmune to develop and market allogeneic T-cell treatments, to treat several cancers. This collaboration is expected to generate more than USD 3 billion for the U.S./U.K. oncology drug developer market.

Liver Cancer Diagnostics Market Segmentation:

By Diagnosis Technique

  • Imaging
  • Laboratory Test
  • Endoscopy
  • Biopsy
  • Other Diagnosis Techniques

By End-Users

  • Hospitals
  • Laboratories
  • Other End-Uses 

 

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