Dublin, March 15, 2023 (GLOBE NEWSWIRE) -- Fact.MR has provided detailed information about the price points of key players of Liver Cancer Diagnostics positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Fact.MR – A Market Research and Competitive Intelligence Provider: The global liver cancer diagnostics market is projected to grow at a staggering 8.2% value CAGR, reaching US$ 26 Billion, following an assessment period ranging from 2022-2032. As per a newly published report on this industry by Fact.MR, a valuation of US$ 11.73 Billion has been anticipated during FY 2022.

From 2017-2021, demand for Liver Cancer Diagnostics flourished at a growth rate of 7.8%, concluding at US$ 10.83 Billion. Increasing adoption of self-medication for primary health issues treatment and rising preference for dietary supplements in daily consumption is expected to boost the sales of OTC vitamins & dietary supplements.

Instances of cancer have seen a substantial rise over the past decade, and this rise is expected to be seen through this decade as well. Liver cancer cases have seen a gradual increase as the lifestyle of people has changed drastically over the years. The prevalence of obesity due to poor eating habits is one of the major factors responsible for the increase in liver cancer across the world.

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Rising consumption of tobacco and alcohol is also a major lifestyle change that has promoted the disease, in turn, giving rise to more demand for effective liver cancer diagnostics. Hepatocellular carcinoma (HCC) diagnostics and liver carcinoma diagnostics are two major diagnostic methods that are in demand and expected to be prominent over the decade.

Key Takeaways from the Market Study

• Global liver cancer diagnostics market to expand nearly 2.1x from 2022-2032
• LFTs for liver cancer diagnostics is the most sought-after component, flourishing at an 8.1% CAGR
• By End-user, the Cancer Research Institute Segment is likely to register a CAGR of ~8%
• U.S to emerge as one of the most opportunistic markets, witnessing a significant growth rate throughout the forecast period 2022-2032

Competitive Landscape

Prominent service providers are taking advantage of the rapidly digitizing landscape to introduce new services equipped with cutting-edge innovative technology. Some notable developments are as follows:

• In August 2021, Illumina, Inc. announced the acquisition of GRAIL, a healthcare company focused on life-saving early detection of multiple cancers but will hold GRAIL as a separate company during the European Commission's ongoing regulatory review.
• In September 2021, India-based BDR Pharma announced the launch of the generic cancer drug called Cabozantinib. The drug is said to be helpful in the treatment of hepatocellular carcinoma and other types of cancers.
• In June 2022, Adaptimmune and Genetech announced a collaboration through which they would be commercializing allogeneic T-cell therapies to treat various cancers. This collaboration could generate around US$ 3 Bn for the companies involved.
• In August 2021, 111, a digital health platform, entered into a strategic cooperation agreement with Suzhou Zelgen Biopharmaceuticals Co. to develop a virtual platform for liver cancer-affected individuals. The platform would provide patients access to online doctor consultations and medicines.

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Key Segments in Liver Cancer Diagnostics Industry Research

• By Test Type :
  • AFP Tests
  • LFTs
  • Biopsy
  • Others
• By End User :
  • Hospital-associated Labs
  • Independent Diagnostic Laboratories
  • Cancer Research Institutes
  • Others
• By Region :
  • North America
  • Europe
  • Asia Pacific
  • The Middle East & Africa
  • Latin America

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the global Liver Cancer Diagnostics market, presenting a historical analysis from 2017 to 2021 and forecast statistics for the period 2022-2032.

The study reveals essential insights based on Test Type (AFP Tests for Liver Cancer Diagnostics, LFTs for Liver Cancer Diagnostics, Biopsy for Liver Cancer Diagnostics, Others) By End Users (Hospital-associated Labs, Independent Diagnostic Laboratories, Cancer Research Institutes, Others) across five major regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).

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Key Questions Covered in the Report

• What is the projected valuation of the liver cancer diagnostics in 2023?
• At what rate will the global liver cancer diagnostics market grow until 2032?
• Which are the factors hampering the growth in the liver cancer diagnostics Industry?
• Which region is expected to lead in the global liver cancer diagnostics market by 2032?
• Which are the factors driving the liver cancer diagnostics market during the forecast period?
• What is the expected market value of the liver cancer diagnostics market during the forecast period?

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