Liver Cancer Diagnostics Market Is Expected To Reach USD 16.09 Billion By 2027 At A CAGR Of 7.5% percent.
Stellar Market Research published a report on “Liver Cancer Diagnostics Market” which provides a detailed analysis for the forecast period of 2022 to 2027.
The report comprises thorough insights into the market for industry stakeholders which includes an interpretation of complex market data in simple language, the industry’s historical and current state, along with estimated market size and trends. The report explores all segments of the industry, with a focus on significant players e.g. market leaders, followers, and new entrants. The report covers a detailed PESTLE analysis for different countries. A clear representation of the competitive landscape of key players by products and services, revenue, financial position, portfolio, growth strategies, and regional presence in the Liver Cancer Diagnostics market make the report an investor’s guide.
Liver Cancer Diagnostics Market Overview:
Liver malignancy is one of the top causes of cancer death globally. As per the American Cancer Society, the prevalence of liver cancer has more than quadrupled in the last few decades, and the fatality rate has increased more than twice. According to the same source, about 42 thousand new cases of liver cancer are estimated to be detected in the United States in 2023, resulting in approximately 30 thousand fatalities. Chronic viral hepatitis, liver failure, high alcohol intake, cigarette use, and obesity are all key risk factors for this disorder.
Moreover, an increase in the number of programs aiming at promoting awareness about prompt diagnosis of a liver tumor is expected to be a key driver of global demand for its diagnostic instruments. In 2018, the National Cancer Institute conducted a study at Michigan Medicine to enhance liver cancer surveillance and early detection in America. Coalitions and alliances to elevate liver cancer inspection between the National Cervical Cancer Coalition, WHO, the CDC, the U. S. Preventive Services Task Force, and others are also the major driving factors of the market in the area.
Liver Cancer Diagnostics Market Dynamics:
Due to greater costs, low compensation rates, and financial restrictions, many hospitals in poorer regions are unable to invest in diagnostic imaging techniques. However, because diagnostic imaging treatments are in great demand in these countries, clinics that cannot pay to spend on new imaging techniques prefer to use reconditioned ones. Reconditioned systems are less expensive than new systems, with prices ranging from 45% to 65% of the original cost of the product.
As a result, numerous industry leaders are now marketing reconditioned gadgets through a variety of schemes. Some notable multinational refurbishment initiatives that promote the use of reconditioned diagnostic imaging equipment include Siemens Medical Proven Excellence Scheme, Philips’ Diamond Select Initiative, and, GE Healthcare’s Gold Seal Plan.
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Liver Cancer Diagnostics Market Regional Insights:
The United States dominated the liver cancer diagnostics market in 2020, responsible for 35 % of total revenue, and is expected to continue to do so even at the end of the forecast period. This region’s supremacy is due to its well-established medical infrastructure, robust medical insurance regulations, and widespread use of modern diagnostic techniques. Moreover, the local presence of key businesses, as well as their ongoing strategic activities, contribute to regional growth. Because of the higher frequency of hepatic abnormalities and strong knowledge about its early identification, the United States leads the market share in North America. The market for liver cancer diagnostics in APAC is estimated to grow the fastest over the forecast period.
Liver Cancer Diagnostics Market Segmentation:
Test Type:
Laboratory Tests
Biomarkers
Oncofetal and Glycoprotein Antigens
Enzymes and Isoenzymes
Growth Factors and Receptors
Molecular Markers
Pathological Biomarkers
Blood Tests
Imaging Tests
Endoscopy
Biopsy
Others
By End-Use:
Hospitals & Diagnostic Laboratories
Academic & Research Institutes
Pharmaceutical & CRO Laboratories
Liver Cancer Diagnostics Market Key Competitors:
Abbott Laboratories
F. 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.
Hologic, Inc.
Thermo Fisher Scientific, Inc.
Biocept, Inc.
Danaher
Foundation Medicine, Inc.
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