According to our latest study on “Liver Cancer Diagnostics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and End User,” the market is expected to grow from US$ 9,323.14 million in 2021 to US$ 15,951.77 million by 2028; it is estimated to grow at a CAGR of 8.0% from 2021 to 2028. The report highlights the key factors and trends impacting the market and focuses on prominent players and their strategies.
Liver cancer begins in the cells of the liver. Multiple kinds of cancer can form in the liver. Hepatocellular carcinoma is considered the most common liver cancer and starts in the hepatocyte. According to the American Society of Clinical Oncology (ASCO), around 80% of adult primary liver cancers are hepatocellular carcinomas. Other types of liver cancer include hepatoblastoma and intrahepatic cholangiocarcinoma. These are considered to be less common. Liver cancer diagnostics comprises techniques used for liver cancer identification and confirmation.
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Cancer is defined as the abnormal growth of cells in the body. Cells located in any part of the body can turn cancerous and spread to other parts of the body. Liver cancer starts in the cells of the liver. Multiple kinds of cancer can form in the liver. Hepatocellular carcinoma is considered the most common liver cancer and starts in the hepatocyte. Several other types of liver cancer include hepatoblastoma and intrahepatic cholangiocarcinoma. These are considered to be less common. By the American Society of Clinical Oncology (ASCO), about 80% of adult primary liver cancers are hepatocellular carcinomas. Liver cancer diagnostics include techniques used for liver cancer identification and confirmation.
Based on type, the liver cancer diagnostics market is segmented into laboratory tests, endoscopy, imaging, biopsy, and others. The laboratory tests segment held the largest market share in 2021. Moreover, the same segment is anticipated to register the highest CAGR during the forecast period. The strong preference for laboratory tests due to their correctness and cost-efficiency can be linked to their big market and expansion. Laboratory tests are also used to assess high-risk patients and determine therapy options, disease stages, and treatment effects on patient. The market for the laboratory test segment is further bifurcated into blood tests and biomarkers.
The liver cancer diagnostics market growth is attributed to the rising prevalence of liver cancer and increasing R&D investments in the development of novel diagnostic testing. On the other hand, the high cost of technologically advanced liver cancer diagnostic solutions hinders the growth of the market.
The Liver Cancer Diagnostics market majorly consists of the players such as Abbott, BioMerieux SA, F. HOFFMANN-LA ROCHE LTD., Illumina, Inc., Koninklijke Philips N.V., QIAGEN, Siemens Healthineers AG, THERMO FISHER SCIENTIFIC INC., GE Healthcare, Perspectum, Helio, Inc. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized strategies such as product launches, expansions, and product upgradations for the growth of their organizations. The companies have adopted several inorganic and organic strategies to accelerate their growth and improve their market position.
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