Liver Cancer Diagnostics Market Report Analysis With Industry Share

Cancer is defined as the abnormal growth of cells in the body. Cells located at any part of the body can turn cancerous and spread to other parts of the body. Liver cancer begins in the cells of the liver. Several kinds of cancer can form in the liver. Hepatocellular carcinoma is considered to be the most common liver cancer and begins in the hepatocyte. Other types of liver cancer include hepatoblastoma and intrahepatic cholangiocarcinoma. These are considered to be less common. According to the American Society of Clinical Oncology (ASCO), around 80% of adult primary liver cancers are hepatocellular carcinomas. Liver cancer diagnostics include techniques used for liver cancer identification and confirmation.

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According to the World Cancer Research Fund, in 2018, nearly 840,000 new cases of liver cancer were diagnosed globally. Liver cancer is considered to be the fifth most common cancer among men and the ninth most common cancer among women. According to the Centers for Disease Control and Prevention (CDC), around 33,000 people are diagnosed with liver cancer in the U.S. every year, and about 26,000 people succumb to the disease.

The percentage of people in the U.S. suffering from liver cancer has been increasing for several decades. According to the Department of Health in New York State, nearly 1,500 men and 600 women are diagnosed with liver cancer every year. Approximately 900 men and 500 women in New York succumb to liver cancer each year.

Rise in prevalence of liver cancer, high alcohol consumption, research & development activities including development of newer techniques for the diagnosis of liver cancer, availability of efficient cancer treatments, and rise in adoption of new techniques for detection of liver cancer are anticipated to boost the global liver cancer diagnostics market. However, the shortage of skilled professionals and lack of awareness about the technological advancements are expected to hamper the growth of the liver cancer diagnostics market.

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In terms of screening type, the global liver cancer diagnostics market can be segmented into laboratory tests, endoscopy, imaging, biopsy, and others. The laboratory tests segment can be bifurcated into biomarkers and blood tests. The laboratory tests segment is anticipated to account for the largest market share during the forecast period, attributed to increasing in a requirement for effective diagnostic tests for hepatocellular carcinoma.

The biomarkers segment can be divided into molecular markers, oncofetal & glycoprotein antigens, pathological biomarkers, growth factors & receptors, and enzymes & isoenzymes. In terms of end-user, the liver cancer diagnostics market can be categorized into hospital associated laboratories, independent diagnostic laboratories, and others. The hospital associated laboratories segment is anticipated to account for the largest share of the global liver cancer diagnostics market, owing to an increase in the number and well-equipped infrastructure of hospitals.

In terms of region, the global liver cancer diagnostics market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global liver cancer diagnostics market due to technological advancements, increase in demand for care diagnostics, and rapid adoption of novel diagnostics and therapeutic approaches. The liver cancer diagnostics market in the Asia Pacific is anticipated to witness strong growth, attributed to increases in population, a rise in prevalence of liver cancer, surge in initiatives by a government in health care, increase in research and development activities.

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Key players operating in the global liver cancer diagnostics market are Illumina, Inc., F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Inc., QIAGEN, Siemens Healthcare Private Limited, Danaher, Foundation Medicine, Inc., Biocept, Inc., Koninklijke Philips N.V., and Hologic, Inc. These players have adopted strategies such as partnerships, agreements, collaborations, partnerships, and new product development to gain a competitive advantage in the global liver cancer diagnostics market.

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