Market Overview:
The human liver, the body's largest organ, serves a crucial role in eliminating toxins from the bloodstream, regulating blood sugar levels, and managing blood clotting. It controls various chemical levels in the blood, secretes bile for fat digestion, and processes nutrients. Moreover, it metabolizes drugs and performs over 500 essential functions. Liver cancer, primarily hepatocellular carcinoma, can develop due to cell mutations, leading to tumors that may cause symptoms like abdominal swelling, pale stools, and upper abdominal pain. Early detection is vital to prevent its spread, underscoring the significance of liver cancer diagnosis for market growth in the foreseeable future.
Top Key Players for Liver Cancer Diagnostics Market:
Abbott Laboratories (US), Becton Dickinson and Company (US), F. 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 Internationals Pvt. Ltd. (India) and others major players.
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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others
Market Dynamics and Factors for Liver Cancer Diagnostics Market:
Drivers:
Growing Number of Liver Cancer Patients
Hepatocellular carcinoma (HCC), ranking as the sixth most prevalent cancer globally, constitutes around 6% of total cancer cases. Roughly 1.5 billion people suffer from chronic liver diseases worldwide, majorly stemming from factors like viral hepatitis, alcoholic and non-alcoholic fatty liver diseases. Escalating alcohol and tobacco consumption along with sedentary lifestyles notably contribute to liver cancer prognosis. Accurate identification of liver cancer type and its progression is pivotal for effective treatment planning.
Opportunities:
Emerging Trends and Collaborations Open Lucrative Avenues in Liver Cancer Diagnostics Market
The escalating incidence of liver cancer coupled with heightened awareness of diagnostic examinations in developed countries is presenting a lucrative opening for stakeholders in the liver cancer diagnostics market. Funding for research and developmental endeavors aimed at pioneering early-stage detection methods for liver cancer has experienced a notable surge. Innovations like fluorescent in situ hybridization (FISH), comparative genomic hybridization (CGH), and immunohistochemical (IHC) techniques have revolutionized the landscape of liver cancer identification. Additionally, various governments have collaborated with service providers to offer cost-effective diagnostic assessments to economically disadvantaged individuals, thereby creating a profitable prospect for market participants.
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Segmentation Analysis of the Liver Cancer Diagnostics Market:
By Diagnosis Technique, the imaging segment is forecasted to have the highest share of the liver cancer diagnostics market. This segment is projected to reach US$ 14 million by the end of the forecast period. The imaging techniques utilized in liver cancer diagnostics are ultrasonography (US), computed tomography (CT), magnetic resonance imaging (MRI), and positron emission tomography (PET).
By End-Users, the hospital segment is anticipated to lead the liver cancer diagnostics market in the projected period. Hospitals are the primary healthcare services in each economy. Moreover, in several countries these hospitals are backed by governments thus, helping every individual to avail healthcare facilities at affordable prices.
By Type
- Imaging
- Laboratory Test
- Endoscopy
- Biopsy
- Others
By Application
- Hospitals
- Laboratories
- Others
Regional Analysis of the Liver Cancer Diagnostics Market:
In the projected period, the liver cancer diagnostics market is expected to be most prominent in the European region, driven by a surge in alcohol consumption. With the European region accounting for a substantial portion of global ill health and premature deaths linked to alcohol use, its status as the world's heaviest-drinking area amplifies this trend. Notably, more than one-fifth of individuals aged 15 and above report regular heavy episodic drinking, posing a significant risk for liver cancer development. This landscape positions the European market at the forefront of liver cancer diagnostics expansion throughout the forecast period.
By region:
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
In November 2021, Siemens Healthineers has introduced two new features in ACUSON Sequoia which will help in comprehensive liver assessment through quantification of liver tissue stiffness and hepatic fat in a single acquisition. The combination of these features may help the clinician streamline patient care pathways and potentially avoid unwarranted and invasive medical intervention.
In September 2021, BDR Pharma announced the launch of CABOZANTINIB to treat advanced renal cell carcinoma, hepatocellular carcinoma, and metastatic medullary thyroid cancer. CABOZANTINIB is a new Tyrosine Kinase Inhibitor (TKI) that blocks the signals inside cancer cells that make them grow and divide.
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