New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Liver Cancer Diagnostics Global Market Report 2023" - https://www.reportlinker.com/p06479943/?utm_source=GNW
, Koninklijke Philips N.V., Epigenomics AG, C.R. Bard Inc., Hologic Inc., Digna Biotech SL, Biocept Inc., Danaher Corporation, and Foundation Medicine Inc.
The global liver cancer diagnostics market is expected to grow from $8.46 billion in 2022 to $9.19 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The liver cancer diagnostics market is expected to reach $12.14 billion in 2027 at a CAGR of 7.2%.
The liver cancer diagnostics market includes revenues earned by entities by liver transplants, CT scans, and liver function tests.The market value includes the value of related goods sold by the service provider or included within the service offering.
The liver cancer diagnostics market also includes sales of In Vitro and Imaging Tools, AI tools, and ML tools which are used in providing liver cancer diagnostic services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Liver cancer diagnostics refers to the various methods employed to detect and diagnose liver cancer, a type of cancer that originates in the liver. It is used for the early detection and diagnosis of liver cancer via imaging and molecular testing.
North America was the largest region in the liver cancer diagnostics market in 2022. The regions covered in liver cancer diagnostics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of cancer included in liver cancer diagnostics are hepatocellular carcinoma, cholangiocarcinoma, hepatoblastoma, and others.Hepatocellular carcinoma (HCC) refers to the primary liver cancer that most commonly affects people who have cirrhosis and preexisting chronic liver disease.
The several types of screening are involved are laboratory testing, imaging, endoscopy, biopsy, and others. The various types of technology are included, such as fluorescent in situ hybridization (FISH), comparative genomic hybridization (CGH), immunohistochemical (IHC), and others, which are used in several end uses, such as hospitals and diagnostic laboratories, academic and research institutes, and pharmaceutical and CRO laboratories.
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.
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.
In December 2022, Fujifilm Holdings Corporation, a Japan-based conglomerate engaged in healthcare and biotech product development acquired Inspirata for an undisclosed amount.With this acquisition, Fujifilm will take over Dynamyx digital pathology technology, and staff and clients of Inspirata joined Fujifilm.
The inclusion of digital pathology would broaden Fujifilm’s strong Synapse® Enterprise Imaging portfolio, enabling the incorporation of pathology data and images into a company’s electronic medical record system and aiding in the streamlining of treatment for cancer patients and care teams. Inspirata is a US-based company engaged in providing oncology informatics and healthcare IT solutions.
The countries covered in the liver cancer diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The liver cancer diagnostics market research report is one of a series of new reports that provides liver cancer diagnostics market statistics, including liver cancer diagnostics industry global market size, regional shares, competitors with a liver cancer diagnostics market share, detailed liver cancer diagnostics market segments, market trends and opportunities, and any further data you may need to thrive in the liver cancer diagnostics industry. This liver cancer diagnostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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