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Liver Cancer Diagnostics Market Size

Report ID: GMI6100
Published Date: Jun 2023
Report Format: PDF

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Liver Cancer Diagnostics Market Size

Liver Cancer Diagnostics Market size recorded USD 10.5 billion in 2022 and is likely to witness 7% CAGR from 2023 to 2032. This incremental growth rate is owing to increasing prevalence of liver cancer and other chronic conditions in line with rising awareness and screening programs targeting high-risk populations.

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Technological advancements pertaining to liver cancer diagnostics and screening procedures has influence the product adoption rate in several healthcare facilities. Increasing awareness and initiatives to cater to appropriate diagnostic treatments and clinical benefits offered by liver cancer diagnostics will propel the market growth.

Manufacturers are focusing on providing a wide range of diagnostic products, including imaging technologies, biomarker tests, genetic profiling, and liquid biopsy solutions for liver cancer detection and monitoring. Screening programs targeting high-risk populations help in early detection, leading to improved patient outcomes. Thus, increasing investments aim to develop novel biomarkers, improve imaging techniques, and government initiatives enhance the overall diagnostic accuracy thereby fueling the liver cancer diagnostics market growth.

Liver Cancer Diagnostics Market Report Attributes
Report Attribute	Details
Base Year:	2022
Liver Cancer Diagnostics Market Size in 2022:	USD 10.5 billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	7%
2032 Value Projection:	USD 20.7 billion
Historical Data for:	2018 to 2022
No. of Pages:	160
Tables, Charts & Figures:	275
Segments covered:	Test Type, End-use, and Region
Growth Drivers:	Increasing prevalence of liver cancer Technological advancements in liver cancer diagnostics Rising awareness and screening programs targeting high-risk populations
Pitfalls & Challenges:	High cost of diagnostic tests Risk of inaccurate of false results

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High-cost diagnostic tests may pose financial challenges for patients, especially those without adequate insurance coverage or in regions with limited healthcare resources. The affordability barrier may prevent some individuals from accessing timely liver cancer diagnostics, leading to delayed or missed diagnoses. High-cost diagnostic tests can strain healthcare systems and budgets, particularly in countries with limited healthcare resources. Reimbursement policies and coverage limitations by healthcare payers can also contribute to the cost constraint.

Authors: Mariam Faizullabhoy , Shishanka Wangnoo

Frequently Asked Questions (FAQ) :

The market size of liver cancer diagnostics was worth more than USD 10.5 billion in 2022 and is estimated to reach USD 20.7 billion by 2032 driven by the high prevalence of liver cancer coupled with the rising awareness and screening programs.

The laboratory test segment accounted for more than 32% of the liver cancer diagnostics market share in 2022 and is set to record substantial growth through 2032 owing to the benefits of early detection of liver cancer through lab tests to enable timely intervention and treatment.

North America market for liver cancer diagnostics generated USD 4.4 billion in 2022 and is poised to grow at a notable CAGR from 2023 to 2032 owing to the increasing technological advancement in cancer diagnostic techniques and favorable R&D initiatives.

Some of the major liver cancer diagnostics business players include AB SCIEX, Agilent Technologies Inc., Becton, Dickinson & Company, Biocare Medical, LLC, bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation, Epigenomics Ag, F. Hoffmann-La Roche Ltd., and General Electric Company.