The liver cancer diagnostics market size is estimated to be USD 9,976.5 million in 2022 and is expected to witness a CAGR of 7.82% during the forecast period 2023-2033. Increasing prevalence of liver cancer, rising initiatives for launch and develop by companies and institutions are projected to drive the market growth in near future. Furthermore, increase in the number of initiatives to promote early detection of liver cancer is expected to support the market growth. However, high price of technologically advanced liver cancer diagnostic systems is expected to restrain the market growth.

Increasing prevalence of liver cancer is expected to fuel the market growth. Based on the American Cancer Society, the prevalence rate of liver cancer has nearly quadrupled and the death rates have more than doubled during the past three decades. The same source predicts that in 2021 there will be approximately 42,230 new cases of liver cancer diagnosed in the United States, resulting in about 30,230 deaths. Chronic viral hepatitis, cirrhosis, strong alcohol use, cigarette use, and obesity are the main risk factors for this disease.

Rising initiatives for launch and developed by companies and institutions is predicted to propel the market growth. Roche’s new Elecsys GALAD score was given the FDA’s Breakthrough Device Designation in March 2020. Elecsys GALAD score is made to assist physicians by giving them a prompt and precise hepatocellular cancer diagnosis. Similar to this, in November 2019, EXACT Sciences Corporation’s blood-based test for the early identification of liver cancer was given the FDA’s breakthrough designation.

Segmentation

 By Type

The market is categorized into imaging tests, laboratory tests, biopsy, endoscopy, and others. In 2022, the laboratory tests segment accounted for the highest revenue share due to their precision and affordability. Additionally, laboratory tests are used to screen high-risk individuals, determine different treatment options, localize disease stages, and assess whether a disease is responding to a certain course of treatment. The imaging testing segment had the second-largest revenue share, is expected to have significant growth over the course of the study period. Imaging tests can be used combination with genetic and laboratory studies to support the detection of tumors. Imaging tests include X-rays, ultrasounds, computed tomography (CT) scans, magnetic resonance imaging (MRI), and other radiographic exams.

By End User

The market is categorized into academic & research institutes, hospitals & diagnostic laboratories, and pharmaceutical & CRO laboratories. In the global market, the segment accounted for the largest revenue share in 2022 owing to the fact that hospitals and diagnostic labs are the main locations for the diagnosis and treatment of all chronic diseases. For the diagnosis and treatment of medical disorders including hepatocellular carcinoma, hospitals serve as primary care facilities. These long-term services are used by the majority of the population for disease management, diagnosis, and treatment. Additionally, diagnostic labs quickly and affordably produce data that are extremely sensitive. The pharmaceutical and CRO laboratories segment is anticipated to experience the quickest CAGR over the projection period. Leading pharmaceutical companies’ substantial demand for liver diagnostics products for research reasons can be attributed to this significant rise.

Regional Markets

In 2022, North America region accounted for the highest revenue in the liver cancer diagnostics market and is expected to maintain its dominance during the forecast period. This is attributed to its strong healthcare insurance programmes, developed healthcare infrastructure, and widespread use of cutting-edge diagnostic procedures. Leading players’ local presence and ongoing strategic activities by them also contribute to the growth of the region. The U.S. holds a large market share in North America due to a higher prevalence of hepatocellular carcinoma and widespread knowledge of its early identification. The market for liver cancer diagnostics in Asia Pacific is anticipated to develop at the greatest rate during the study period. The high incidence of hepatitis in developing nations like China and India is to responsible for this rapid development. Additional government measures to raise awareness about the early identification of liver cancer and surge in alcohol and cigarette use in the area are other factors impacting the market’s growth.

Competitor Insights

Some of the key players operating in the liver cancer diagnostics market are F. Hoffmann-La Roche Ltd., Illumina, Inc., Qiagen N.V., Epigenomics AG, Thermo Fisher Scientific, Inc., Becton Dickinson & Company, Abbott Laboratories, Koninklijke Philips N.V, Siemens Healthineers, and Fujifilm Medical Systems U.S.A., Inc.

To achieve a competitive edge, these businesses are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.

• For instance, Genomic Health was acquired by Exact Sciences for USD 2.8 billion in July 2019. Exact Sciences expanded its market reach for oncology diagnostics with this acquisition.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including type and end user from 2022 to 2033.

Report Scope:

Segmentation: Liver Cancer Diagnostics Market Report 2022 – 2033

Type (Revenue, USD Million), 2022 – 2033

• Imaging Tests
• Laboratory Tests
  • Blood Tests
  • Biomarkers
• Biopsy
• Endoscopy
• Others

End user (Revenue, USD Million), 2022 – 2033

• Academic & Research Institutes
• Hospitals & Diagnostic Laboratories
• Pharmaceutical & CRO Laboratories

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA