The global Liver Cancer Diagnostic Market scope was projected at US$ 8.25 billion in 2017. It is expected to reach US$ 15.4 billion by 2025 with a CAGR of 8.1% during the forecast period. Liver cancer diagnostic refers to advanced medical techniques used in healthcare facilities to confirm presence of unwanted cell growth in human body. Continuous exposure to carcinogenic substances and changes in deoxyribonucleic acid (DNA) can damage tumor suppressor genes. Permanent damage to suppressor genes can lead to growth of abnormal cells affected organ. Hepatocellular Carcinoma (HCC) is considered as the most common form of primary liver cancer in adults.
Growing prevalence of liver cancer owing to unhealthy eating and drinking habits is anticipated to propel liver cancer diagnostics market growth. Regular consumption of spicy or unhygienic food and alcohol can damage liver. Growing awareness among people regarding importance of early diagnosis of the disease is expected to impel liver cancer diagnostic industry growth. Detection of problem at early stage is likely to increase possibilities of cure through chemotherapy or other effective treatments. Moreover, advent of multiple screening procedures that are helping healthcare professionals to detect the problem at initial stage will drive the liver cancer diagnostics industry over the forecast period. Available laboratory tests for HCC include urinalysis, sputum cytology, immunophenotyping, and urine cytology. These tests allow healthcare professionals to detect abnormalities in tissue structure and cells inside humans.
To cater to rising demand for early diagnosis, companies are investing in R&D to develop effective therapeutic treatments. For instance, in September 2019, Laboratory for Advanced Medicine (LAM) has received breakthrough device designation from food and drug administration (FDA). The organization has received this badge for test to detect liver cancer. The test can detect the problem at early stage with high sensitivity and specificity. In addition, the test offers low false negative and false positive rate.
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Screening Type Insights:
Based on screening type, the liver cancer diagnostic market can be segregated into laboratory tests, imaging, endoscopy, biopsy, and others. Laboratory tests segment is anticipated to hold largest market share over the forecast period. These tests are further segmented into biomarkers and blood tests. Such diagnostic techniques allow healthcare professionals to confirm presence of cancerous cells in human body. Imaging tests allow doctors to take clear images of internal organs to confirm presence of tumor. Such tests include magnetic resonance imaging (MRI), computed tomography (CT) scan, ultrasound, x-ray, and other radiographic tests.
In terms of end-user, the liver cancer diagnostics market is classified into independent laboratories, hospital associated labs, cancer research institutes, and others. Hospital associated labs segment is predicted to hold largest market share over the forecast period. This is attributed to increasing number of people visiting hospitals for tests. Cancer research institutes are likely to gain traction among healthcare facilities and patients. This is attributed to continuous research on development of effective therapeutic methods aimed to reduce mortality rate across the globe.
Regional segmentation includes Europe, North America, Asia Pacific, Latin America, and Middle East and Africa. North America is anticipated to hold largest market share over the forecast period. This is attributed to advanced healthcare infrastructure and early adoption of novel therapeutic approaches among medical facilities in the region. In addition, growing base of target population and continuous research on development of effective therapeutic methods will drive regional growth.
Asia Pacific, on the other hand, is also expected to exhibit significant CAGR owing to increasing number of patients suffering from the liver problems. Improving healthcare infrastructure in developing economies including India and China and reducing treatment costs is likely to augment regional growth. In addition, supportive initiatives being taken by governments to support manufacturers of medical devices will boost regional growth. According to world cancer research fund, Mangolia witnessed highest rate of liver cancer in 2018.
Some of the key players of the liver cancer diagnostic industry are Thermo Fisher Scientific, Siemens Healthcare GmbH, Roche Holding AG, Danaher Corporation, and Sysmex Corporation. Companies are adopting business strategies such as acquisitions and mergers to develop advanced screening techniques.
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Liver Cancer Diagnostics Screening Type Outlook (Revenue, USD Million, 2014 – 2025)
• Laboratory Tests
• Oncofetal and Glycoprotein Antigens
• Enzymes and Isoenzymes
• Growth Factors and Receptors
• Molecular Markers
• Pathological Biomarkers
• Blood Tests
Liver Cancer Diagnostics Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
• Saudi Arabia
• South Africa
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