The liver cancer diagnostics market size is projected to reach US$ 20.57 billion by 2031 from US$ 10.78 billion in 2023. The market is expected to register a CAGR of 8.4% during 2023–2031. The rising emergence of new technologies is likely to remain a key trend in the market.
As per the CDC, each year in the United States, approximately 24,500 men and 10,000 women develop liver cancer, out of which 18,600 men and 9,000 women die from the disease. The cases of Americans getting liver cancer are rising for several decades. Hepatocellular carcinoma (HCC) is the most common liver cancer in the US. Furthermore, according to the Canada Government, about 1 in 4 Canadian adults (26.6%) are currently living with obesity. Obesity cases are also increasing and with increasing csaes the risk of certain health conditions such as liver damage, diabetes, high blood pressure, and heart disease are also rising.
In the year 2020, the World Health Organization (WHO) stated that in worldwide, over 10 million deaths happened, out of which one in every six deaths are due to cancer. Additionally, in 2020, liver cancer is one of the most common cancer types, accounting for around 4.7% of all new cancer cases and 8.3% of all cancer deaths. Out of all diagnosed liver cancer cases, 75% to 90% are Hepatocellular carcinoma (HCC) ), which has a more significant impact on cancer-related fatalities. According to the published article in CCO (Chinese Clinical Oncology), hepatocellular cancer (HCC) is a top cause of cancer death worldwide. The most often used procedures for HCC screening are the serum alpha-fetoprotein (AFP) test and liver ultrasound. However, by sensitivity, AFP test has a sensitivity of 25% to 65%, and ultrasound has a sensitivity of over 60%. Liver cancer is a more common cancer, and the cases are increasing. For instance, in the UK, mortality rates from HCC is expected to rise by 14% by 2025, representing the largest increase in any cancer.
In June 2020, NCI scientists developed new test for screening hepatocellular carcinoma (HCC), the most common form of liver cancer. This screening involves blood test for investigation of the patient’s previous exposure to certain viruses. Such screening leads to early detection and diagnosis, mainly because cancers in the late or advanced stages are detected, and by then, they are often incurable. Furthermore, NCI also launched the CCR Liver Cancer Program to develop new methods for early detection, diagnosis, and treatment, with the aim to improve HCC patients’ outcomes. Additionally, the National Institutes of Health (NIH) started its clinical trials network to evaluate possible aids and problems of promising new cancer screening technologies and to govern the efficient methods for integrating these innovations into standard care protocols.
In 2021, Elecsys GALAD research and development (R&D) expenditure was US$ 14.65 billion and in 2020 it was US$ 13.17 billion. It has increased by 14% on a core basis. Furthermore, F. Hoffmann-La Roche Ltd R&D have increased mainly for late-stage investments in oncology, ophthalmology, and personalized healthcare. Additionally, in June 2020, scientists from National Institutes of Health (NIH) launched blood tests to improve liver cancer screening which are managed by researchers at the National Cancer Institute (NCI). Therefore, the mounting R&D investments and development of diagnostic tests for liver cancer are driving the liver cancer diagnostics market.
Key segments that contributed to the derivation of the liver cancer diagnostics market analysis are type and end-user.
The geographic scope of the liver cancer diagnostics market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market and Asia Pacific is anticipated to grow with the highest CAGR in the coming years. The growth of the Asia Pacific market is due to rising senior populations and expanding liver cancer treatment options. Due to the implementation of improved diagnostic procedures for liver cancer in countries such as India and China, the APAC region is expected to have the highest CAGR. As the cost-effectiveness of diagnostic solutions improves, demand for liver cancer diagnostics in independent diagnostic laboratories in APAC is predicted to rise. The above factors will propel the liver cancer diagnostics market.
The regional trends and factors influencing the Liver Cancer Diagnostics Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Liver Cancer Diagnostics Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 10.78 Billion |
| Market Size by 2031 | US$ 20.57 Billion |
| Global CAGR (2023 - 2031) | 8.4% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Liver Cancer Diagnostics Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Liver Cancer Diagnostics Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The liver cancer diagnostics market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the liver cancer diagnostics market are listed below:
The “Liver Cancer Diagnostics Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America has dominated the Liver Cancer Diagnostics market.
Factors such as increasing diagnosis due to strategic initiatives and incasering liver cancer cases will boost the market growth.
The rising emergence of new technologies is likely to remain a key trend in the market.
The liver cancer diagnostics market size is projected to reach US$ 20.57 billion by 2031.
The market is expected to register a CAGR of 8.4% during 2023–2031.