Global liver disease diagnostics market was valued at USD 29.3 Billion in 2019. It is expected to grow at a compound annual rate (CAGR of 6.5%) between 2020 and 2027. The market for liver disease diagnostics is expected to grow due to the rising prevalence of chronic and acute liver diseases. According to the WHO, 841,080 cases of liver cancer were diagnosed worldwide in 2018. An estimated 781 631 people died from liver cancer. Key players are expected to increase the demand for diagnostics for liver diseases. In February 2019, Abbott was awarded a CE Mark for the Determine HBsAg2 test. This is a rapid, sensitive and easy-to-use diagnostic test that detects hepatitis B.
The market for liver disease diagnostics is expected to grow due to increased R&D in accurate diagnostic systems that can be used to diagnose early and improve patient outcomes. F. Hoffmann-La Roche Ltd. received Breakthrough Device Designation in March 2020 for Elecsys GALD score. Roche Diagnostics Liver Indication Program developed Elecsys GALAD Score to improve diagnostic workflows and provide accurate information for clinicians.
Market growth for liver disease diagnostics will be accelerated by the availability of favorable reimbursement policies from Medicare and Medicaid. CodeMap is a major source of reimbursement solutions and Medicare compliance includes piccolo Express liver panel plus, developed by Abbott, with a medicare reimbursement amount of USD 30.89.
The market for diagnostics of liver diseases will be impacted by the development of new methods to diagnose disease. Ortho Clinical Diagnostics developed VITROS ALTV slides, a novel method to measure Alanine Aminotransferase, (ALT), using dry slide technology. This innovative method reduces sample volume, increases sensitivity and improves precision performance.
In 2019, the imaging segment was dominant in the market, with a 29.4% revenue share. The rising number of key players in this market for liver disease diagnostics and advanced imaging techniques can be attributed to their dominance. To diagnose liver function, laboratory tests can be performed using blood and urine samples. The imaging options include X-rays, ultrasound, magnetic resonance imaging (MRI), scans using Computed Tomography (CT), and other tests. The forecast period will see imaging experience a 6.9% CAGR.
The market leaders in liver disease diagnostics are also supporting non-profit organizations in raising awareness and helping physicians to detect liver diseases. Echosens donated FibroScan in January 2020 to Fatty Liver Foundation (FLF). This FibroScan was designed to assist clinicians in the detection, monitoring and prevention of liver disease.
In 2019, the hospitals segment accounted for 45.5% of the total revenue. This is because patients depend on hospitals that are well-equipped with diagnostic testing equipment. Hospitals offer optimal care and allow for early diagnosis and treatment, which is a key factor in the growth of the market to diagnose liver diseases. The existing hospitals will be enhanced by the continuous development of healthcare infrastructure.
Over the next few years, the market for liver disease diagnostics is expected to grow at the fastest pace in the laboratories segment. Different institutes and laboratories offer awareness programs for the diagnosis of hepatic organ diseases. In December 2017, Mylan Laboratories and the Institute of Liver and Biliary Sciences teamed up to offer awareness and screening programs. This was done to provide screening and testing services for over 1000 patients in Delhi. It performed tests such as Hepatitis C, Fibroscan and ALT.
North America was the dominant market, with a 43.1% revenue share in 2019. Europe followed. The market for liver disease diagnostics is expected to grow due to high investments in R&D, and the presence of key players. The market for liver disease diagnostics is expected to grow due to the existence of organizations that offer information to patients about diagnosing diseases. One such organization is GetPalliativeCare.org that provides palliative care information related to diagnostic methods such as endoscopy, CT scan, and biopsy.
The Asia Pacific market for liver disease diagnostics is expected to expand at a substantial rate over the forecast period. The market for liver disease diagnostics is growing in Asia Pacific due to an increasing geriatric population. Regional growth will also be driven by the regulatory approval of advanced technologies that are compatible with imaging systems. In August 2018, LiverMultiScan was approved by the Therapeutic Goods Administration (TGA), to diagnose patients suffering from highly prevalent Australian diseases such as NAFLD or NASH.
These key players have implemented multiple strategies to develop innovative technologies that will improve patient care. Boston Scientific Corporation purchased BTG plc in August 2019 to provide better patient care. The market leader in liver disease diagnostics is:
Abbott
F. Hoffmann-La Roche Ltd.
Thermo Fisher Scientific Inc.
Randox Laboratories Ltd.
Boston Scientific Corporation
Laboratory Corporation of America Holdings
Fujifilm Corporation
Horiba Medical
Siemens Healthcare GmbH.
Up Market Research published a new report titled “Liver Disease Diagnostics Market research report which is segmented by End-use (Hospital, Laboratories), by Diagnosis Technique (Endoscopy, Imaging, Biopsy, Laboratory Tests), By Players/Companies Boston Scientific Corporation, F Hoffmann-La Roche Ltd, Abbott, Randox Laboratories Ltd, Siemens Healthcare GmbH, Laboratory Corporation of America Holdings, Fujifilm Corporation, Horiba Medical, Thermo Fisher Scientific Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Liver Disease Diagnostics Market Research Report |
By End-use | Hospital, Laboratories |
By Diagnosis Technique | Endoscopy, Imaging, Biopsy, Laboratory Tests |
By Companies | Boston Scientific Corporation, F Hoffmann-La Roche Ltd, Abbott, Randox Laboratories Ltd, Siemens Healthcare GmbH, Laboratory Corporation of America Holdings, Fujifilm Corporation, Horiba Medical, Thermo Fisher Scientific Inc |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 248 |
Number of Tables & Figures | 174 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by End-use (Hospital, Laboratories), by Diagnosis Technique (Endoscopy, Imaging, Biopsy, Laboratory Tests).
Liver Disease Diagnostics Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Liver Disease Diagnostics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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