Liver Disease Diagnostics Market Research, 2031
The global liver disease diagnostics market size was valued at $34.5 billion in 2021, and is projected to reach $62.6 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031. Liver diseases is a general term that refers to any condition affecting the liver. These conditions may develop for different reasons, but they can all damage the liver and affect its function. Liver disease diagnostics are used for the diagnosis of liver diseases such as hepatitis, alcoholic fatty liver disease, primary biliary cirrhosis (PBC), primary sclerosing cholangitis, Wilson’s disease, liver cirrhosis, and jaundice. Liver diseases can be diagnosed using different techniques include imaging, laboratory tests, endoscopy and biopsy.
The liver disease diagnostics market size has witnessed growth, owing to increase in geriatric population that are prone to liver failure, and rise in prevalence of liver diseases such as hepatitis A, B, C, alcoholic fatty liver disease, jaundice, hemochromatosis, drug-induced liver disease, liver cirrhosis, diabetes, obesity and cancer of liver. In addition, rise in demand for minimally invasive diagnostic procedure for the diagnosis of liver diseases. Hence, such all the factors boost the growth of liver disease diagnostics market share.
For instance, according to American Cancer Society’s estimates for primary liver cancer and intrahepatic bile duct cancer in the U.S. for 2022, an estimated 41,260 new cases (28,600 in men and 12,660 in women) will be diagnosed and about 30,520 people (20,420 men and 10,100 women) will die of these cancers. According to report of World Health Organization (WHO) published on June 2022, globally, an estimated 58 million people have chronic hepatitis C virus infection, with about 1.5 million new infections occurring per year. An estimated 3.2 million adolescents and children have chronic hepatitis C infection.
Moreover, increase in unhealthy lifestyle, rise in smoking, uptake of alcohol, increase in used of drugs and overdose of narcotics are increases the cases of liver diseases and boost to the growth of liver disease diagnostics market share. For instance, according to the National Center for Drug Abuse Statistics 2021, there were about 95.2 thousand alcohol-related deaths among which 31.08% were due to liver diseases. Alcoholic liver disease is the leading killer, which causes 19.1% of all alcohol-related deaths. Thus, such high mortality can be prevented by appropriate liver treatment at the right time, and thus boosts the growth of the market.
In addition, technological advancements; launch of various products, strategies among key players such as acquisition, collaboration, and agreement drive the growth of the liver disease diagnostics market.
For instance, in February 2019, Abbott announced that it has received CE Mark approval for the world's most sensitive rapid diagnostic test for the detection of hepatitis B surface antigen, the Determine HBsAg 2 test for use with serum, plasma or whole blood. This highly sensitive, easy-to-use, rapid lateral flow test enables identification of those with the virus and facilitates linkage to care in every healthcare setting. The purpose of this product is to test the hepatitis in patients and reduce the burden of hepatitis.
The global liver disease diagnostics market analysis is segmented on the basis of technique, end user, and region. On the basis of technique, the market is classified into imaging, laboratory tests, endoscopy and biopsy. Depending on end user, it is fragmented into are hospitals, laboratories and others.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
By Technique
On the basis of technique, the imaging segment generated maximum revenue in 2021 and is expected to continue this trend during the liver disease diagnostics market forecast period. The dominance of this segment can be attributed to rise in number of technological advancements in imaging technique and high adoption of these technique for diagnosis of liver diseases.
By End User
On the basis of end user, the hospitals segment was the highest revenue contributor to the market in 2021, owing to increase in patient admission, presence of advanced diagnostic products, and well-trained nursing staff. Rise in cases of hepatitis, liver diseases across the world led to increase use of hospitals for clinical diagnostic and boost the liver disease diagnostics market growth.
By Region
On the basis of region, North America dominated the liver disease diagnostics industry in 2021, owing to strong presence of key players and availability of approved liver disease diagnostics products with higher adoption of liver disease diagnostics, robust healthcare infrastructure, and rise in healthcare expenditure.
Some of the major companies that operate in the global Liver disease diagnostics industry are Abbott Laboratories, Bio-Rad Laboratories Inc., Cosara Diagnostics Pvt Ltd, Echosens, Fujifilm Holdings Corporation, Meril Life Sciences Pvt. Ltd., Qiagen N.V., Siemen’s AG, Thermo Fisher Scientific Inc., and Trivitron Healthcare.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the Liver disease diagnostics market, current liver disease diagnostics market trends, and future estimations to elucidate the imminent investment pockets.
- It presents a quantitative analysis of the market from 2021 to 2031 to enable stakeholders to capitalize on the prevailing liver disease diagnostics market opportunity.
- Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
Liver Disease Diagnostics Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 62 billion |
 Growth Rate | CAGR of 6.1% |
 Forecast period | 2021 - 2031 |
 Report Pages | 203 |
 By Technique |
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 By End Use |
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 By Region |
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 Key Market Players | Thermo Fisher Scientific Inc., PerkinElmer, Qiagen N.V., Abbott Laboratories, Bio-Rad Laboratories Inc., Meril Life Sciences Pvt. Ltd., Cosara Diagnostics Pvt Ltd, Echosens, Trivitron Healthcare, Siemen’s AG |
Analyst Review
This section provides opinions of top level CXOs in the liver disease diagnostics market. The liver disease diagnostics market is expected to witness a healthy growth with rise in demand for minimally invasive diagnostic procedures.
The liver disease diagnostics market has gained interest of the healthcare industry, owing to rise in number of liver diseases, increase in geriatric population, increase in alcohol consumption, and unhealthy lifestyle and eating habits leading to obesity. This further leads to wide range of liver disorders, which are expected to significantly boost growth of the liver disease diagnostics market.
CXOs further added that liver disease diagnostics is gaining high traction in the market, owing to favorable FDA approvals & reimbursement policies pertaining to liver disease diagnostics in developed economies and surge in geriatric population, which is more prone to liver diseases and boost growth of liver disease diagnostics. In addition, rise in awareness toward early detection and treatment of liver diseases and increase in government programs designed to spread awareness related to hepatitis prevention fuel growth of the liver disease diagnostics market. However, dearth of trained physicians & endoscopists and high-cost of liver disease diagnostics restrict growth of the market. On the contrary, unmet medical demands in developing countries are expected to provide remunerative opportunities for the market expansion.
The Europe liver disease diagnostics market is expected to register steady growth during the forecast period, owing to increase in geriatric population requiring long-term care, availability of research & development, and rise in demand for diagnostic products against liver disease diagnostics. LAMEA is projected to witness significant growth in the future, owing to increase in unhealthy lifestyle and uptake of alcohol, increase in use of laboratory tests for diagnosis of diseases, rise in demand of advanced diagnostic tools, and rise in awareness for diagnosis of liver diseases.
Furthermore, growth in hospital investments in imaging facilities, coupled with rise in demand for imaging, owing to rise in prevalence of liver diseases are few trends in Liver Disease Diagnostics Market
On the basis of technique, the imaging segment generated maximum revenue in 2021. The dominance of this segment can be attributed to rise in number of technological advancements in imaging technique and high adoption of these technique for diagnosis of liver diseases.
North America dominated the liver disease diagnostics market in 2021
The liver disease diagnostics market was valued at $34,520.4 million in 2021, and is estimated to reach $61,962.1 million by 2031, growing at a CAGR of 6.1% from 2022 to 2031.
Some of the major companies that operate in the global Liver disease diagnostics market are Abbott Laboratories, Bio-Rad Laboratories Inc., and Thermo Fisher Scientific Inc. among others.
North America is expected to be the fastest growing region in liver disease diagnostics market
Rise in incidence of liver diseases coupled with Increase in alcohol consumption and poor dietary habits are few major indicators driving the market growth.
Yes, the competitive landscape is included in the liver disease diagnostics market report
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