Liver Cancer Diagnostics Market Overview
The Global Liver Cancer Diagnostics Market was valued at USD 12.04 billion in 2023 and is projected to reach nearly USD 19.97 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2030. Liver cancer is a leading cause of cancer-related mortality worldwide, driven by various risk factors including chronic viral hepatitis, cirrhosis, alcohol consumption, obesity, and smoking. According to the American Cancer Society, the incidence of liver cancer has quadrupled in recent decades, with an increase in fatalities. Early diagnosis is critical in improving outcomes, thus fueling the demand for advanced diagnostic tools. This market is segmented by test type, end-use, and region, reflecting a broad range of applications and geographies.
Liver Cancer Diagnostics Market Report Dynamics
The rising prevalence of liver cancer is a primary driver of the global demand for liver cancer diagnostics. According to Globocan statistics, liver cancer was the 6th most common cancer in 2020, with approximately 905,677 new cases and 830,180 fatalities globally. Chronic infections such as Hepatitis B Virus (HBV) and Hepatitis C Virus (HCV) remain leading causes of liver cancer. The World Health Organization (WHO) estimates that 71 million people globally are infected with chronic HCV, with an annual death toll of nearly 400,000 attributed to liver-related complications, such as cirrhosis and hepatocellular carcinoma.
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This growing burden is leading to the development of innovative diagnostic solutions. Further, government initiatives and collaborations to promote early detection are likely to propel the market forward. For instance, in 2018, the National Cancer Institute (NCI) supported research at Michigan Medicine aimed at improving liver cancer diagnostics, demonstrating a push toward better screening and monitoring techniques. Additionally, organizations such as the World Health Organization and the Centers for Disease Control and Prevention are promoting increased awareness for liver cancer screening, further expanding the demand for diagnostics globally.
Liver Cancer Diagnostics Market Regional Insights
The report includes a thorough analysis of all the factors, market size, growth rate, and import and export in regions. The Regional Analysis used in the report to understand the Liver Cancer Diagnostics market status in various countries. The Liver Cancer Diagnostics market is broadly segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Liver Cancer Diagnostics Market Segmentation
By Test Type:
Laboratory Tests: Accounting for 39.5% of the market share in 2023, laboratory tests are highly preferred due to their cost-effectiveness and accuracy. These tests are essential for evaluating high-risk individuals, determining treatment plans, and monitoring disease progression.
Biomarkers: Includes oncofetal and glycoprotein antigens, enzymes and isoenzymes, growth factors, and molecular markers.
Imaging Tests: These tests, including MRI and CT scans, are widely used for diagnosing liver cancer at various stages.
Blood Tests, Endoscopy, and Biopsy: Critical for diagnosing liver cancer and formulating treatment strategies.
By End-Use:
Hospitals Diagnostic Laboratories: The dominant segment due to the need for sophisticated equipment and expert supervision.
Academic Research Institutes
Pharmaceutical CRO Laboratories: These facilities are also expected to play a key role in market growth, driven by ongoing research and development in liver cancer diagnostics.
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Liver Cancer Diagnostics Market Key Players
The Liver Cancer Diagnostics Market is competitive, with a mix of global healthcare giants and specialized diagnostic companies leading innovations. Some of the key players include:
- Abbott Laboratories (U.S.)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Qiagen N.V. (Germany)
- Thermo Fisher Scientific, Inc. (U.S.)
- Siemens Healthineers (Germany)
- Becton Dickinson Company (U.S.)
- Illumina, Inc. (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Epigenomics AG (Germany)
- Fujifilm Medical Systems U.S.A., Inc. (U.S.)
- Hologic, Inc. (U.S.)
- Biocept, Inc. (U.S.)
- Danaher (U.S.)
- Foundation Medicine, Inc. (U.S.)
Key questions answered in the Liver Cancer Diagnostics Market are:
- What is Liver Cancer Diagnostics?
- What was the Liver Cancer Diagnostics market size in 2023?
- What is the growth rate of the Liver Cancer Diagnostics Market?
- Which are the factors expected to drive the Liver Cancer Diagnostics market growth?
- What are the different segments of the Liver Cancer Diagnostics Market?
- What growth strategies are the players considering to increase their presence in Liver Cancer Diagnostics?
- What are the upcoming industry applications and trends for the Liver Cancer Diagnostics Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Liver Cancer Diagnostics Market?
- What segments are covered in the Liver Cancer Diagnostics Market?
- Who are the leading companies and what are their portfolios in Liver Cancer Diagnostics Market?
- What segments are covered in the Liver Cancer Diagnostics Market?
- Who are the key players in the Liver Cancer Diagnostics market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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