Categories: Market Research

Liver Cancer Diagnostics Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Liver Cancer Diagnostics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Liver Cancer Diagnostics Global Market Report 2024, 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)..

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.

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The liver cancer diagnostics market covered in this report is segmented –

1) By Type: Hepatocellular Carcinoma, Cholangiocarcinoma, Hepatoblastoma, Other Types

2) By Screening: Laboratory Testing, Imaging, Endoscopy, Biopsy, Other Screenings

3) By Technology: Fluorescent In Situ Hybridization (FISH), Comparative Genomic Hybridization (CGH), Immunohistochemical (IHC), Other Technologies

4) By End Use: Hospitals And Diagnostic Laboratories, Academic And Research Institutes, Pharmaceutical And CRO Laboratories

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.

The liver cancer diagnostics market report table of contents includes: