30th March 2020 – Global Liver
Cancer Diagnostic market report offers the latest industry trends, technological
alteration and forecast data. A deep-dive view of Liver Cancer Diagnostic
industry based on its size, growth, development plans, and opportunities is
offered by this report. The forecast information, SWOT analysis, Liver Cancer
Diagnostic barriers, and feasibility study are the vital aspects evaluated in
this report.
The global Liver Cancer Diagnostic
Market scope was projected at US$ 8.25 billion in 2017. It is expected to reach
US$ 15.4 billion by 2025 with a CAGR of 8.1% during the forecast period. Liver cancer diagnostic refers to advanced medical techniques used
in healthcare facilities to confirm presence of unwanted cell growth in human
body. Continuous exposure to carcinogenic substances and changes in
deoxyribonucleic acid (DNA) can damage tumor suppressor genes. Permanent damage
to suppressor genes can lead to growth of abnormal cells affected organ.
Hepatocellular Carcinoma (HCC) is considered as the most common form of primary
liver cancer in adults.
Growing prevalence of liver cancer owing
to unhealthy eating and drinking habits is anticipated to propel liver cancer
diagnostics market growth. Regular consumption of spicy or unhygienic food and
alcohol can damage liver. Growing awareness among people regarding importance
of early diagnosis of the disease is expected to impel liver cancer diagnostic
industry growth. Detection of problem at early stage is likely to increase
possibilities of cure through chemotherapy or other effective treatments.
Moreover, advent of multiple screening procedures that are helping healthcare
professionals to detect the problem at initial stage will drive the liver
cancer diagnostics industry over the forecast period. Available laboratory
tests for HCC include urinalysis, sputum cytology, immunophenotyping, and urine
cytology. These tests allow healthcare professionals to detect abnormalities in
tissue structure and cells inside humans.
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Main features of the report:
·
To provide detailed analysis of
the market structure along with forecast of the various segments and
sub-segments of the global Liver Cancer Diagnostic Market.
·
A complete backdrop analysis,
which includes an assessment of the parent market
·
Important changes in market
dynamics
·
Market segmentation up to the
second or third level
·
To provide country level
analysis of the market for segment by application, product type and
sub-segments.
·
To provide strategic profiling
of key players in the market, comprehensively analyzing their core
competencies, and drawing a competitive landscape for the market.
·
Track and analyze competitive
developments such as joint ventures, strategic alliances, mergers and
acquisitions, new product developments, and research and developments in the
global Liver Cancer Diagnostic Market.
·
Emerging niche segments and
regional markets
·
An objective assessment of the
trajectory of the industry.
To cater to rising demand for early
diagnosis, companies are investing in R&D to develop effective therapeutic
treatments. For instance, in September 2019, Laboratory for Advanced Medicine
(LAM) has received breakthrough device designation from food and drug
administration (FDA). The organization has received this badge for test to
detect liver cancer. The test can detect the problem at early stage with high
sensitivity and specificity. In addition, the test offers low false negative
and false positive rate.
End-User Insights:
In terms of end-user, the liver cancer
diagnostics market is classified into independent laboratories, hospital
associated labs, cancer research institutes, and others. Hospital associated
labs segment is predicted to hold largest market share over the forecast
period. This is attributed to increasing number of people visiting hospitals
for tests. Cancer research institutes are likely to gain traction among
healthcare facilities and patients. This is attributed to continuous research
on development of effective therapeutic methods aimed to reduce mortality rate
across the globe.
Regional Insights:
Regional segmentation includes Europe,
North America, Asia Pacific, Latin America, and Middle East and Africa. North
America is anticipated to hold largest market share over the forecast period.
This is attributed to advanced healthcare infrastructure and early adoption of
novel therapeutic approaches among medical facilities in the region. In
addition, growing base of target population and continuous research on
development of effective therapeutic methods will drive regional growth.
Asia Pacific, on the other hand, is also
expected to exhibit significant CAGR owing to increasing number of patients
suffering from the liver problems. Improving healthcare infrastructure in
developing economies including India and China and reducing treatment costs is
likely to augment regional growth. In addition, supportive initiatives being
taken by governments to support manufacturers of medical devices will boost
regional growth. According to world cancer research fund, Mangolia witnessed
highest rate of liver cancer in 2018.
Some of the key players of the
liver cancer diagnostic industry are Thermo Fisher Scientific, Siemens
Healthcare GmbH, Roche Holding AG, Danaher Corporation, and Sysmex Corporation.
Companies are adopting business strategies such as acquisitions and mergers to
develop advanced screening techniques.
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