Liver Disease Diagnostics Market Outlook 2031
The Liver Disease Diagnostics Market was USD 36.04 Billion in 2022 and is likely to reach USD 65.70 Billion by 2031, expanding at a CAGR of 6.9% during 2023 – 2031. The growth of the market is attributed to the increasing occurrence of chronic and acute liver diseases. As per a survey conducted by World Health Organization (WHO) in 2018, as many as 841,079 cases were reported for liver cancer in 2017 and 781,629 death of people were related to the lack of treatment of liver cancer.
The liver is small sized organ located at the upper portion of the abdomen, below the diaphragm and above the stomach. Some of the common causes of Liver cancer can be inactive lifestyle, unhealthy food habits, and high consumption of alcohol. The liver cancer is a health condition of constantly deteriorating active cells at the liver and failing to recover these cells at the required pace, which normally leads to severe consequences.
Hepatocellular carcinoma is one of the most common forms of liver cancer, which generally develops from the hepatocyte or the main liver cell. Other types of cancer such as the colon, breast, or lung cancer could also be spread to the liver and this type of cancer is called the metastatic cancer. Some of the common symptoms of live cancer include losing weight with minimal effort, upper abdominal pain, general weakness & fatigue, white & chalky stools, loss of appetite, and nausea & vomiting. Once the symptoms are shown, consulting a doctor immediately and conducting diagnostics are the best courses of action before the cancer cells expand to other parts of the body. The DNA mutations occur very quickly if the formation of the cancer cells have started and, in the long run, this could result in tumors formation.
Liver Disease Diagnostics Market Trends, Drivers, Restraints, and Opportunities
- Adoption of advanced technology by the key players to develop rapid testing for the detection of liver diseases is expected to boost the market.
- Increasing research & development activities for accurate diagnostic testing systems by developing the innovative diagnosis devices is anticipated to propel the market growth.
- Introduction of innovative diagnostic methods to study and examine these diseases among the hospitals, clinics, and healthcare laboratories are key drivers projected to push the market expansion.
- The outbreak of COVID -19 pandemic is likely to propel the market expansion as the liver disease patients have higher chance for virus infection.
- High cost of the treatment of the liver disease diagnostics is a key challenge that can hamper the market growth.
Scope of Liver Disease Diagnostics Market Report
The report on the global liver disease diagnostics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Liver Disease Diagnostics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Diagnosis Techniques (Imaging, Laboratory Tests, Endoscopy, Biopsy, and Others), and End-users (Hospitals, Laboratories and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Trends, and Revenue Forecast
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Key Players Covered in the Report
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Abbott Laboratories; F.Hoffmann-La Roche AG; Thermo Fisher Scientific Inc; Randox Laboratories Ltd; Boston Scientific Corporation; Laboratory Corporation of America Holdings; Fujifilm Corporation; Horiba Medical; and Siemens Healthcare GmbH
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Global Liver Disease Diagnostics Market Segment Insights
Imaging segment to dominate the liver disease diagnosis market
On the basis of diagnosis techniques, the liver disease diagnosis market is divided into imaging, laboratory tests, endoscopy, biopsy, and others. The imaging segment held a high market share, accounting for 29.4% in 2019 and is expected to dominate the market in the coming years. The segment growth can be attributed to the increasing number of methods and initiatives undertaken by the major players in the liver disease diagnosis market for the development of advanced imaging techniques. The testing conducted by laboratories are used from the samples of blood, urine, and other body fluids. However, imaging utilizes the concept of ultrasound derivation, magnetic resonance imaging scans, computer topology scans, and x-rays, which are much safer and offering better results.
Hospitals held a large market share
Based on end-users, the liver disease diagnosis market is segmented into hospitals, laboratories and others. The hospitals segment accounted for more than 40.6% of the market share in 2020 and is projected to register a high CAGR during the forecast period. The segment growth is attributed to the fact that hospitals provide the best optimal care to their patients while enabling initial detection & diagnosis, which results in the effective treatment of the liver disease.
The ongoing advancement of the healthcare infrastructure is expected to improve the existing availability of hospital facilities. The laboratories segment, on the other hand, is one of the fastest growing segment in this market with representing a CAGR of 14%. Several laboratories use the diagnostic devices to conduct various research projects including drug development.
North America is anticipated to dominate the market
In terms of regions, the market is classified as North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America is anticipated to dominate the global liver disease diagnosis market in the coming years. The regional market growth is attributed to the fact that North America has heavily focused on research and development activities and companies have made significant investments for the healthcare infrastructure development. Moreover, the presence of major global players and early adoption of advanced technology in the healthcare industry are key driving factors for the regional market growth.
Segments
The global liver disease diagnosis market has been segmented in terms of
Diagnosis Techniques
- Imaging
- Laboratory Tests
- Endoscopy
- Biopsy
- Others
End-users
- Hospitals
- Laboratories
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Abbott Laboratories
- F.Hoffmann-La Roche AG
- Thermo Fisher Scientific Inc
- Randox Laboratories Ltd
- Boston Scientific Corporation
- Laboratory Corporation of America Holdings
- Fujifilm Corporation
- Horiba Medical
- Siemens Healthcare GmbH
Competitive Landscape
Some of the key players competing in the global liver disease diagnosis market are Abbott Laboratories; F.Hoffmann-La Roche AG; Thermo Fisher Scientific Inc; Randox Laboratories Ltd; Boston Scientific Corporation; Laboratory Corporation of America Holdings; Fujifilm Corporation; Horiba Medical; and Siemens Healthcare GmbH.
These companies understand the importance of the development of technologies for patient care. In February 2019, Abbott invented a sensitive, rapid and easy to use diagnostic test for the discovery of hepatitis B. Meanwhile, Boston Scientific Corporation, in August 2019, acquired BTG to gain access to their advanced technology to improve patient care. F. Hoffmann-La Roche Ltd, in March 2020, was granted the Breakthrough Device Designation with respect to their Elecsys Galad score. This score is evaluated to understand the effectiveness of the treatment given by the company to the patient on the whole purpose of improving diagnostic workflow.
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