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Liver Cancer Diagnostics Market Report 2024 - Liver Cancer Diagnostics Market Size, Share And Trends
Liver Cancer Diagnostics Market
According to The Business Research Company's, The liver cancer diagnostics market size has grown strongly in recent years. It will grow from $9.19 billion in 2023 to $9.95 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to biopsy techniques and histopathology, development of biomarker detection, evolution of screening programs, advances in genetic testing, improvements in liver imaging modalities..
The liver cancer diagnostics market size is expected to see strong growth in the next few years. It will grow to $12.96 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to regulatory changes and standardization, growing importance of imaging modalities, development of next-generation sequencing, expanded screening programs and awareness, rising demand for biomarker-based testing.. Major trends in the forecast period include rise in incidence and prevalence, advancements in imaging technologies, focus on non-invasive diagnostics, precision medicine and personalized diagnostics, integration of artificial intelligence (ai)..
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Market Drivers and Trends:
The rising prevalence of liver cancer is expected to propel the growth of the liver cancer diagnostics market going forward. Liver cancer refers to the condition in which the liver cells grow and multiply out of control, giving rise to a life-threatening illness. Liver cancer diagnostic tests are performed to determine whether cancer cells are spreading within the liver or surrounding it after the diagnosis of primary carcinoma of the liver, so the rising prevalence of liver cancer boosts the liver cancer diagnostics market. For instance, in January 2023, according to the Cancer Facts & Figures 2023 report published by the American Cancer Society, a US-based voluntary health organization, the number of new cases of liver and intrahepatic bile duct cancer in females reached 13,230 in 2023, an increase from 12,640 in 2020, in the United States. Furthermore, in 2023, an estimated 41,210 new cases of liver cancer will be diagnosed in the US, where 29,380 people are expected to die. Therefore, the rising prevalence of liver cancer is driving the growth of the liver cancer diagnostic market.
Technological innovations are the key trend gaining popularity in the liver cancer diagnostics market. Major companies operating in the liver cancer diagnostics market are focusing on the development of innovative diagnostic technologies to sustain their position in the market. For instance, in December 2021, Helio Health, a US-based pharmaceutical consultancy and Fulgent Genetics Inc., a US-based developer of cancer therapeutics launched HelioLiver, an innovative liquid biopsy test for the detection of liver cancer at an early stage. It is a multi-analyte blood test for the identification of hepatocellular carcinoma (HCC), the most prevalent kind of liver cancer, and integrates serum protein indicators and cell-free DNA (cfDNA) methylation patterns. HelioLiver has the potential to enable more curative treatment options known to increase five-year survival rates by up to 13 times compared to when cancer has metastasized.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Abbott Laboratories; F. Hoffmann-La Roche Ltd.; Qiagen NV; Thermo Fisher Scientific Inc.; Siemens Healthineers; Becton Dickinson & Company; Illumina Inc.; Koninklijke Philips NV; Epigenomics AG; Charles Russell Bard; Hologic Inc.; Digna Biotech SL; Biocept Inc.; Danaher Corporation; Foundation Medicine Inc.; Agilent Technologies Inc.; Biocare Medical LLC; Genemed Biotechnologies Inc.; Merck KGaA; Fujifilm Medical Systems USA Inc.; GE Healthcare; Bio SB Inc.; Advanced Cell Diagnostics Inc.; Oxford Gene Technology; Leica Biosystems Nussloch GmbH; Exiqon A/S; BioGenex Laboratories Inc.; OncoCyte Corporation; Guardant Health Inc.; Exact Sciences Corporation; Grail Inc.; Freenome Holdings Inc.; Natera Inc.; Personal Genome Diagnostics Inc.; Thrive Earlier Detection Corp
Liver Cancer Diagnostics Market 2024 Key Insights:
• The liver cancer diagnostics market will grow to $12.96 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Rising Liver Cancer Prevalence Fuels Growth In Liver Cancer Diagnostics Market
• Technological Advancements Transforming The Landscape Of Liver Cancer Diagnostics
• North America was the largest region in the liver cancer diagnostics market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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