According to our latest study on "Liver Cancer Diagnostics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and End User," the market is expected to grow from US$ 9,323.14 million in 2021 to US$ 15,951.77 million by 2028; it is estimated to grow at a CAGR of 8.0% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments. The growth of the market is primarily attributed to the rising prevalence of liver cancer and increasing R&D investments in the development of novel diagnostic testing. On the other hand, the high cost of technologically advanced liver cancer diagnostic solutions hinders the growth of the market.
The COVID-19 pandemic reduced resources from healthcare services for patients suffering from diseases, such as cancer. COVID-19 causes organ dysfunction, complicating cancer treatment. With COVID-19 outbreak in most countries across the world, modifications to cancer management have been adopted to accommodate the crisis and minimize the exposure of cancer patients to the infection. As per a research article by Chan S.L. et al., published in Liver Cancer Journal 2020, in hepatocellular carcinoma (HCC) patients, COVID-19 exacerbates existing chronic liver disease and complicates cancer management. Cancer patients have a higher risk of infection and worse outcomes, especially those recently undergone cancer treatments.
Based on type, the liver cancer diagnostics market is segmented into laboratory tests, endoscopy, imaging, biopsy, and others. The laboratory tests segment held the largest market share in 2021. However, the imaging segment is anticipated to register a CAGR of 8.6% in the market during the forecast period. The largest share of laboratory tests segment is attributed to the rising prevalence of liver cancer. According to CDC (Centers for Disease Control and Prevention), in the US, about 24,500 men and 10,000 women are diagnosed with liver cancer, and about 18,600 men and 9,000 women die due to the disease each year. The percentage of Americans who get affected by liver cancer has been rising for several decades. Liver cancer is more common in other parts of the world than in the US. Moreover, according to an article published in CCO (Chinese Clinical Oncology), hepatocellular cancer (HCC) is a leading cause of cancer death worldwide. In Europe, HCC accounts for around 47,000 deaths per year. The incidence is comparatively low except in Southern Europe, where the age-standardized incidence rate in men is 9.8 per 100,000 compared with 3.8 in Northern Europe, 4.6 in central and Eastern Europe, and 7.2 in Western Europe. However, in the UK, mortality rates from HCC are expected to rise by 14% between 2006 and 2025, representing the largest increase in any cancer among male. The factors mentioned above increase the incidence of liver cancer, thereby driving the liver cancer diagnostics market.
Abbott; BioMerieux SA; F. HOFFMANN-LA ROCHE LTD.; Illumina, Inc.; Koninklijke Philips N.V.; QIAGEN; Siemens Healthineers AG; THERMO FISHER SCIENTIFIC INC.; GE Healthcare; Perspectum; and Helio, Inc. are a few leading companies operating in the liver cancer diagnostics market.
Report : Liver Cancer Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Laboratory Tests, Endoscopy, Imaging, Biopsy, and Others) and End User (Hospitals and Diagnostic Laboratories, Academic and Research Institutes, and CRO Laboratories)
Based on type, the liver cancer diagnostics market is segmented into laboratory tests, endoscopy, imaging, biopsy, and others. Based on end user, the market is segmented into hospitals and diagnostic laboratories, academic and research institutes, and CRO laboratories. By geography, the liver cancer diagnostics market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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