Global Liver Cancer Diagnostics Market Grows Steadily at a CAGR of 7.4%

Introduction

Cancer affecting the liver is referred to as liver cancer. The liver supports the body's capacity to digest food, absorb nutrients, and heal wounds by performing several vital functions. The liver produces a fluid called bile that aids in the digestion of vitamins, lipids, and other nutrients. In addition, this vital organ stores nutrients such as glucose so that they can continue to be nourished even when they are not consuming.

Primary and secondary liver cancers are the two main types. Primary liver carcinoma originates in the cells of the liver. Secondary liver cancer is caused by the metastasis or migration of cancer cells from another organ to the liver. In its early stages, liver cancer is frequently asymptomatic, and tumors are frequently invisible to the naked eye. In addition, liver lesions that may be malignant are small and difficult to detect. Even the smallest liver lesions can be detected and diagnosed by the highly skilled specialists at MD Anderson using cutting-edge techniques.

Market Dynamics

Increasing Prevalence of Cancer Drives the Global Market

A global rise in cancer incidence has been one of the most influential factors in recent market expansion. In 2018, the WHO estimated the global cancer burden was approximately 18.1 million new cases and nearly 43.8 million fatalities. The majority of the increase in cancer incidence can be attributed to factors known to influence certain causes of cancer, such as the increasing geriatric and overall populations and changing socioeconomic conditions.

According to the World Health Organization, obesity, certain infections, and radiation exposure are the leading causes of increased cancer incidence. Cancer incidence is double that of noncommunicable diseases in several nations, prompting government and private actors to increase the number of awareness and screening programs. Therefore, the increasing global prevalence of cancer is anticipated to substantially increase demand for cancer diagnostic products over the forecast period.

Technological Advancements Creates Tremendous Opportunities

Increasing microfluidic technology for cancer diagnosis is crucial in replacing conventional diagnostics. In the past, imaging has been the most prevalent method for diagnosing liver cancer, but there has been a recent increase in the use of biomarkers. Multiple hypotheses have been investigated to develop a diagnostic method that facilitates prompt prognosis and treatment. For instance, the use of Gd-EOB-DTPA-MRI as a substitute for CT scans during CT Hepatic Arteriography (CTHA) and CT during Arterial Portography (CTAP) for the diagnosis of Hepatocellular Carcinoma (HCC) is one of the many hypotheses currently being investigated. As a result, it is anticipated that such technological progress will facilitate market expansion.

Regional Analysis

North America is the most significant global liver cancer diagnostics market shareholder and is estimated to exhibit a CAGR of 6.21% during the forecast period. The region's market development will be influenced by an increase in the number of government initiatives and the number of research activities conducted by academic and research institutions. The American Cancer Society recommends surveillance for liver cancer every six months with AFP blood tests and ultrasound procedures. Patients with hereditary hemochromatosis, chronic hepatitis B infection, and cirrhosis with a high risk of developing liver cancer are advised to undergo these tests.

In addition, the country's rising incidence of liver cancer is anticipated to impact market growth significantly. For instance, the University of Toronto reports that liver cancer-related fatalities have increased dramatically over the past quarter-century. A rise in the prevalence of hepatitis B and C among individuals is the leading cause of liver malignancy in the United States. Thus, the increase in the prevalence of liver diseases in the country is anticipated to be a significant aspect of the rapid growth of the regional market.

Europe is estimated to exhibit a CAGR of 8.2% over the forecast period. The increase in the prevalence of diseases such as hepatitis B & C, liver cirrhosis, and HCC is anticipated to be one of the key factors fueling market expansion over the forecast period. The increasing geriatric population, the growing awareness of early detection in developing nations, and the rising alcohol consumption in the region are additional factors influencing market growth. Due to government and academic initiatives, the United Kingdom and Germany are anticipated to experience exponential development soon. According to HCA Healthcare UK, the National Institute for Health and Care Excellence recommends that all individuals who regularly consume alcohol, including those who consume more than five bottles of wine per week, undergo liver screening.

Key Highlights

• The global liver cancer diagnostics market was valued at USD 11.02 billion in 2022. It is estimated to reach USD 20.95 billion by 2031, growing at a CAGR of 7.4% during the forecast period (2023–2031).
• Based on test type, the global liver cancer diagnostics market is bifurcated into laboratory tests, imaging tests, endoscopies, biopsies, and others. The laboratory tests segment dominates the global market and is projected to exhibit a CAGR of 7.8% over the forecast period.
• North America is the most significant global liver cancer diagnostics market shareholder and is estimated to exhibit a CAGR of 6.21% during the forecast period.

Competitive Players

Competitive Players

The key global liver cancer diagnostics market players are Abbott Laboratories, F. Hoffmann-La Roche Ltd., Qiagen N.V., Thermo Fisher Scientific, Inc., Siemens Healthineers, Becton Dickinson & Company, Illumina, Inc. Epigenomics AG, Koninklijke Philips N.V., and Fujifilm Medical Systems U.S.A., Inc.

Recent Developments

Market News

• In June 2023, The University of Manchester (UoM) in the United Kingdom received funding from NHS England to investigate using a new test for early liver cancer detection. Elecsys GAAD, which will be tested using the over £1 million in funding, will allow patients to access care earlier, potentially saving lives.
• In November 2022, Delfi Diagnostics' mission to bring low-cost liquid biopsies to the market advanced last week with the release of optimistic preliminary results for its liver cancer screen. The blood test showed a sensitivity of 88% and a specificity of 98% in more than 700 people at average risk of developing hepatocellular carcinoma.

Segmentation

Global Liver Cancer Diagnostics Market: Segmentation

By Test Type

• Laboratory Tests
• Imaging
• Endoscopy
• Biopsy
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa