PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454110
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454110
Liver Disease Diagnostics Market size was valued at USD 37,669 Million in 2023, expanding at a CAGR of 6.5% from 2024 to 2032.
Any ailment that affects the liver is referred to as "liver disease" in general. Although the causes of these disorders vary, they can all harm the liver and impair its ability to operate. Liver disorders include hepatitis, alcoholic fatty liver disease, primary biliary cirrhosis (PBC), primary sclerosing cholangitis, Wilson's disease, liver cirrhosis, and jaundice can all be diagnosed with the use of liver disease tests. Different procedures, including imaging, laboratory testing, endoscopy, and biopsy, can be used to identify liver disorders.
Liver Disease Diagnostics Market- Market Dynamics
Rising prevalence of chronic liver disease drive market growth
One of the main reasons anticipated to propel the liver disease diagnostics market is the increasing frequency of both acute and chronic liver illnesses. For instance, the WHO estimates that 830,000 deaths worldwide in 2020 were attributable to liver cancer. Furthermore, one of the main causes of death and morbidity is chronic liver disease (CLD), which affects approximately 1.5 billion people globally, according to a study paper titled "Global Epidemiology of Chronic Liver Disease" that was published in June 2021. Thus, the aforementioned stats drive the market growth.
Liver Disease Diagnostics Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2024-2032)
Based on technique segmentation, the imaging segment is expected to hold a prominent market share over the forecast period
Based on end-use segmentation, the Hospitals segment is expected to hold the largest market share during the forecast period
Based on region, North America held the largest market share in 2023
The Global Liver Disease Diagnostics Market is segmented based on Technique, End-use and Region.
Based on the technique, the Liver Disease Diagnostics market is bifurcated into Biopsy, Laboratory tests, Endoscopy, Imaging and Others. The Imaging segment is expected to hold a prominent market share over the forecast period. This is explained by the increasing number of efforts made to create cutting-edge imaging techniques by major companies in the liver disease diagnostics market. Liver function is diagnosed in lab settings utilizing urine, blood, and other fluid samples. However, imaging comprises several tests such as CT, MRI, X-ray, ultrasound, and magnetic resonance imaging (MRI).
Based on the end-use, the global Liver Disease Diagnostics market is segmented into Laboratories, Hospitals and Others. The Hospitals segment is expected to hold the largest market share during the forecast period because most patients depend on hospitals that are well-stocked with diagnostic testing equipment. The market for liver disease diagnostics is expanding because hospitals give patients the best treatment possible and facilitate early identification and diagnosis. It is also expected that the continuous infrastructure development in healthcare would improve the current hospital facilities.
Liver Disease Diagnostics Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to hold the largest market share during the forecast period. The presence of major players and significant R&D expenditures are two factors that are anticipated to fuel the growth of the liver disease diagnostics market in the area. Moreover, the existence of institutions that furnish individuals with information concerning medical diagnosis is anticipated to stimulate the expansion of the liver disease diagnostics market. One such website is GetPalliativeCare.org, which offers information on palliative care about diagnostic procedures including CT scans, endoscopies, and biopsies. For instance, the most common liver condition in 2020 was non-alcoholic fatty liver disease, affecting over 7 million individuals. According to the Canadian Liver Foundation's 2021 report, liver cancer is the most deadly and rapidly growing kind of cancer in Canada.
The key players operating in the market are Boston Scientific Corporation, Laboratory Corporation of America Holdings, Thermo Fisher Scientific Inc., Randox Laboratories Ltd., Abbott, F. Hoffmann-La Roche Ltd., Fujifilm Corporation, Horiba Medical, Siemens Healthcare GmbH and PerkinElmer.
In October 2023, an AI-assisted laboratory-designed test (LDT) for the histologic scoring and staging of metabolic dysfunction-associated steatotic liver disease (MASLD) and metabolic dysfunction-associated steatohepatitis (MASH) was introduced by PathAI Diagnostics, a top provider of laboratory services.
GLOBAL LIVER DISEASE DIAGNOSTICS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Boston Scientific Corporation
Laboratory Corporation of America Holdings
Thermo Fisher Scientific Inc.
Randox Laboratories Ltd.
Abbott
F. Hoffmann-La Roche Ltd.
Fujifilm Corporation
Horiba Medical
Siemens Healthcare GmbH
PerkinElmer