The global liver disease diagnostics market size is expected to reach USD 55.58 billion by 2030, expanding at a CAGR of 6.61% from 2024 to 2030. increasing funding and research initiatives undertaken by market players is one of the major factors expected to propel market growth. For instance, in November 2019, Glycotest, Inc. received the second USD 3.0 million tranche of USD 10.0 million Series A funding from Shanghai Fosun Pharmaceutical Co., Ltd.(Fosun Pharma). Under this investment, Glycotest, Inc. transferred HCC panel technology to Fosun Pharma to commercialize in China and develop tests for liver cancer and liver fibrosis that are currently under pipeline.
Companies are focusing on collaborations and partnership to improve the quality of care,which is anticipated to drive the market. For instance, in October 2019, Perspectum Diagnostics entered into a partnership to offer LiverMultiScan at Precious Medical Center in Singapore. The aim of this partnership was to create awareness among people to consider liver checking as an integral part of their health screening.
Researchers conducting studies to support the development of novel diagnostic methods that can accurately differentiate between benign and malignant lesions are expected to fuel market growth. For instance, researchers from Charité - Universitätsmedizin Berlin used tomoelastography to visualize mechanical properties of tumors and developed a new Magnetic Resonance Imaging (MRI) technique to detect grading of tumor consistency.
Furthermore, companies are conducting clinical trials to develop new tests with high sensitivity and specificity. For instance, Laboratory for Advanced Medicine is conducting a clinical trial on 1,600 patients with liver cirrhosis using invasive biopsy through quantification of cfDNA methylation and comparing it with ultrasound technique. The test is projected to be completed in 2020.
Development and commercialization of accurate diagnostic methods is expected to boost the market. For instance, in March 2020, ENDRA Life Sciences Inc. received CE mark for TAEUS FLIP system. This system measures liver fat to identify and monitor Non-Alcoholic Fatty Liver Disease (NAFLD) and Non-Alcoholic Steatohepatitis (NASH). It is an ultrasound system that accurately and at point of care quantifies fat in the liver.
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Companies are focusing on collaborations and partnership to improve the quality of care,which is anticipated to drive the market. For instance, in October 2019, Perspectum Diagnostics entered into a partnership to offer LiverMultiScan at Precious Medical Center in Singapore. The aim of this partnership was to create awareness among people to consider liver checking as an integral part of their health screening.
Researchers conducting studies to support the development of novel diagnostic methods that can accurately differentiate between benign and malignant lesions are expected to fuel market growth. For instance, researchers from Charité - Universitätsmedizin Berlin used tomoelastography to visualize mechanical properties of tumors and developed a new Magnetic Resonance Imaging (MRI) technique to detect grading of tumor consistency.
Furthermore, companies are conducting clinical trials to develop new tests with high sensitivity and specificity. For instance, Laboratory for Advanced Medicine is conducting a clinical trial on 1,600 patients with liver cirrhosis using invasive biopsy through quantification of cfDNA methylation and comparing it with ultrasound technique. The test is projected to be completed in 2020.
Development and commercialization of accurate diagnostic methods is expected to boost the market. For instance, in March 2020, ENDRA Life Sciences Inc. received CE mark for TAEUS FLIP system. This system measures liver fat to identify and monitor Non-Alcoholic Fatty Liver Disease (NAFLD) and Non-Alcoholic Steatohepatitis (NASH). It is an ultrasound system that accurately and at point of care quantifies fat in the liver.
Liver Disease Diagnostics Market Report Highlights
- The imaging segment accounted for the largest revenue share and is expected to grow at the fastest CAGR. This is attributed to the rising number of initiatives taken by key players in the liver disease diagnostics market to develop advanced imaging techniques.
- The hospitals segment held the largest revenue share of around 45.07% in 2023 as the majority of patients rely on hospitals well-equipped with diagnostic testing devices.
- North America dominated the market and accounted for the largest revenue share of over 41.71% in 2023 followed by Europe. High investments in R&D and the presence of key players are some factors expected to be responsible for the growth of the market for liver disease diagnostics in the region.
- Asia Pacific is expected to grow at the fastest CAGR during the forecast period. Increasing geriatric population and awareness about regular check-ups are contributing to the growth of the market for liver disease diagnostics in this region.
The leading players in the Liver Disease Diagnostics market include:
- 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
- Quest Diagnostics
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- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
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- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Global Liver Disease Diagnostics Market Variables, Trends & Scope
Chapter 4. Global Liver Disease Diagnostics Market: Diagnosis Technique Estimates & Trend Analysis
Chapter 5. Global Liver Disease Diagnostics Market: Disease Estimates & Trend Analysis
Chapter 6. Global Liver Disease Diagnostics Market: End Use Estimates & Trend Analysis
Chapter 7. Liver Disease Diagnostics Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
The leading players in the Liver Disease Diagnostics market include:- 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
- Quest Diagnostics
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | September 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 35.37 Billion |
| Forecasted Market Value ( USD | $ 55.58 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
