Liver Cancer Diagnostics Industry Overview
The global liver cancer diagnostics market size is expected to reach USD 17.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.5% from 2021 to 2028. 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.
Liver Cancer Diagnostics Market Segmentation
Grand View Research has segmented the global liver cancer diagnostics market based on test type, end-use, and region:
Based on the Test Type Insights, the market is segmented into Laboratory Tests, Imaging Tests, Endoscopy, Biopsy, and Others
- In 2020, the laboratory tests segment dominated the market for liver cancer diagnostics and accounted for the largest revenue share of 39.5%.
- The imaging tests segment accounted for the second-largest revenue share and is anticipated to show significant growth throughout the study period.
- Imaging tests include Computed Tomography (CT) scan, Magnetic Resonance Imaging (MRI) scan, X-ray, ultrasound, and other radiographic tests.
Based on the End-use Insights, the market is segmented into Hospitals & Diagnostic Laboratories, Academic & Research Institutes, and Pharmaceutical & CRO Laboratories
- The hospitals and diagnostic laboratories segment dominated the market for liver cancer diagnostics in 2020 and accounted for the largest revenue share of 82.4%.
- The pharmaceutical and CRO laboratories segment is anticipated to witness the fastest CAGR during the forecast period.
Liver Cancer Diagnostics Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Key players are undertaking inorganic growth strategies such as mergers and acquisitions to expand their market share.
Some prominent players in the global Liver Cancer Diagnostics market include:
- Abbott Laboratories
- 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.
Order a free sample PDF of the Liver Cancer Diagnostics Market Intelligence Study, published by Grand View Research.
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