DUBLIN--(BUSINESS WIRE)--The "Liver Cancer Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type and End User" report has been added to ResearchAndMarkets.com's offering.
The Liver cancer diagnostics market size is projected to reach US$ US$ 15,951.77 million by 2028 from US$ 9,323.14 million in 2021; it is estimated to grow at a CAGR of 8.0% during 2021-2028.
Laboratory Tests Segment to Lead Liver Cancer Diagnostics Market During 2021-2028
The report highlights the key factors driving the market and prominent players with their developments. The growth of the liver cancer diagnostics 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.
Hepatocellular carcinoma is the most frequent type of liver; it starts in the major type of liver cell (hepatocyte) and is the most common type of primary liver cancer. Hepatocellular carcinoma occurs most often in people with chronic liver diseases, such as cirrhosis caused by hepatitis B or hepatitis C infection.
Further, other kinds of liver cancer are significantly less prevalent, such as intrahepatic cholangiocarcinoma and hepatoblastoma. Cancer that begins in another area of the body, such as the colon, lung, or breast, and then spreads to the liver is called metastatic cancer. Moreover, metastatic colon cancer is a kind of cancer that starts in the colon and spreads to the liver.
For instance, according to CDC (Centers of Disease Control and Prevention), each year in the US, about 24,500 men and 10,000 women get liver cancer, and about 18,600 men and 9,000 women die from the disease. The percentage of Americans who get 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 male cancer. Furthermore, being overweight or having obesity is a risk factor for liver cancer and non-alcoholic fatty liver disease is a common condition in obese people. People with a subtype of non-alcoholic fatty liver disease, known as non-alcoholic steatohepatitis (NASH), might develop cirrhosis, which can cause liver cancer.
According to a research article by Eunsun Kim et al., published in Experimental & Molecular Medicine Journal 2020, the incidence rate associated with non-alcoholic fatty liver disease (NAFLD) and non-alcoholic steatohepatitis (NASH) is increasing, and the global burden of mortality from hepatocellular carcinoma (HCC) is predicted to reach 1 million deaths annually by 2030.
In addition, certain inherited metabolic diseases can lead to cirrhosis. Lifestyle and behaviors such as smoking cigarettes and drinking alcohol are the leading cause of cirrhosis in the US, which is linked with an increased risk of liver cancer. Further, Type 2 diabetes has been linked with an increased risk of liver cancer, usually in patients with other risk factors such as heavy alcohol use or chronic viral hepatitis.
This risk may also be increased as people with type 2 diabetes tend to be overweight or obese, which, in turn, can cause liver problems. According to IDF Diabetes Atlas Tenth edition 2021, approximately 537 million adults (20-79 years) are living with diabetes. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. The factors mentioned above are increasing the chances of liver cancer, thereby driving the liver cancer diagnostics market.
The global liver cancer diagnostics market, based on type, is segmented into laboratory tests, endoscopy, imaging, biopsy, and others. The market for the laboratory tests segment is further segmented into blood tests and biomarkers. The laboratory tests segment held the largest share of the market in 2021.
However, the imaging segment is anticipated to register a CAGR of 8.5% in the market during the forecast period. Based on end user, the global liver cancer diagnostics market is segmented into hospitals and diagnostic laboratories, academic and research institutes, and CRO laboratories. The hospitals and diagnostic laboratories segment held the largest share of the market in 2021 as the hospitals provide healthcare facilities through specialized scientific equipment.
A team of trained staff is assigned to deal, investigate, and restore the problems associated with modern medical science in the hospital. Various medical research teams are constantly working on introducing innovative technologies related to the diagnostics methods and other activities in the medical field.
The patients generally prefer the hospital to take liver cancer treatment due to the availability of advanced treatment options. The hospitals are the point of care for the patients. Moreover, the same segment is anticipated to register a CAGR of 8.5% in the market during the forecast period.
Key Market Dynamics
- Rising Prevalence of Liver Cancer
- Rising R&D Investments for the Development of Novel Diagnostic Testing
- High Cost of Technologically Advanced Liver Cancer Diagnostic Solutions
- Increasing Demand for Point-of-Care Testing
- Rising Emergence of New Technologies
- Biomerieux Sa
- F. Hoffmann-La Roche Ltd
- Illumina, Inc.
- Koninklijke Philips N.V
- Siemens Healthineers AG
- Therm- Fisher Scientific Inc.
- GE Healthcare
- Helio, Inc.
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