Liver Cancer Diagnostics Market Size, Share and Trends
New York, November 17, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Publication of the “Liver Cancer Diagnostics Market Size, Share and Trend Analysis Report by Type, by End Use,” by region and segment forecast, 2021 – 2028 “- https://www.reportlinker.com/p06184550/?utm_source=GNW
Liver Cancer Diagnostics Market Growth and Trends
The global liver cancer diagnostics market size is expected to reach USD 17.4 billion by 2028. The market is expected to grow at a CAGR of 7.5% from 2021 to 2028. The increasing prevalence of liver cancer and Introduction of innovative diagnostic products propel the market growth.
According to data published by Globocan, liver cancer was the 6th most common type of cancer and, in 2020, around 905,677 new cases of this potentially fatal disease were diagnosed worldwide, resulting in an estimated 830,180 deaths. The most common cause of Liver cancer is chronic (long term) infection with hepatitis C virus (HCV) or hepatitis B virus (HBV).
According to WHO estimates, around 71.0 million people worldwide have chronic HCV infection. According to the same source, in 2016, around 399,000 people died from cirrhosis and primary liver cancer linked to HCV infection. Such high prevalence and death rate of the disease have drastically increased the demand for innovative diagnostic solutions for its rapid diagnosis, thus supporting the market growth.
Furthermore, the continuous technological advancements in the field of oncology diagnosis and the increased access to more effective diagnostic tools are expected to support the market growth throughout the forecast period. In September 2020, Genetron Holdings Limited, a Chinese cancer diagnostics company, received the Breakthrough Device Designation for HCCscreen, a next-generation blood sequencing (NGS) test.
This recently launched test is designed for the early detection of hepatocellular carcinoma (HCC) in patients suspected of being at high risk for HCC due to cirrhosis of the liver and / or chronic HBV infection.
In addition, continued public-private initiatives in several countries to increase screening for the early diagnosis of various cancers, including liver cancer, are expected to create an enabling environment for the market to grow. In 2019, the Saudi Arabian Ministry of Health announced the implementation of several initiatives, including: advancing screening programs, improving cancer awareness and establishing new oncology centers in the area. region.
In 2019, the Cleveland Clinic Abu Dhabi announced the introduction of an expanded range of liver cancer services to the country to meet growing demand.
Highlights of the Liver Cancer Diagnostics Market Report
â¢ By type of test, laboratory testing segment has emerged as the largest segment in 2020 due to its increased demand for effective diagnosis of hepatocellular carcinoma.
â¢ On the basis of end use, Hospitals and Diagnostic Laboratories segment accounted for the major revenue share during the forecast period as they are the major centers for diagnosis and treatment of all chronic diseases.
â¢ North America dominated the market and accounted for the largest share of revenue in 2020. Better knowledge of hepatocellular carcinoma and high adoption of new technologies facilitate dominance of this region during the forecast period
â¢ In Asia-Pacific, the market is estimated to show the fastest growing during the study period. This strong growth is explained by the presence of a large target population and the development of health infrastructure in emerging countries.
Read the full report: https://www.reportlinker.com/p06184550/?utm_source=GNW
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