New York, April 07, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Liver Cancer Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Laboratory Tests, Endoscopy, Imaging, Biopsy, and Others) and End User (Hospitals and Diagnostic Laboratories, Academic and Research Institutes, and CRO Laboratories)”, the global liver cancer diagnostics market growth is driven by the rising prevalence of liver cancer and increasing R&D investments in the development of novel diagnostic testing. However, the high cost of technologically advanced liver cancer diagnostic solutions hinders the market growth. The laboratory tests segment held the largest share of the market and held the largest market share of 39.61% in 2021.
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| Report Coverage | Details |
| Market Size Value in | US$ 9.32 Billion in 2021 |
| Market Size Value by | US$ 15.95 Billion by 2028 |
| Growth rate | CAGR of 8.0% from 2021 to 2028. |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 181 |
| No. Tables | 84 |
| No. of Charts & Figures | 73 |
| Historical data available | Yes |
| Segments covered | Type, and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Liver Cancer Diagnostics Market: Competitive Landscape and Key Developments
Perspectum; Illumina, Inc.; Koninklijke Philips N.V.; GE Healthcare; Siemens Healthineers AG; QIAGEN; and F. HOFFMANN-LA ROCHE LTD have implemented various inorganic strategies, such as partnerships and collaborations, which bought dynamic improvements in the liver cancer diagnostics market. Various companies are also adopting organic strategies, such as product launches and expansions, to expand their business and enhance geographic presence. Additionally, acquisitions and partnerships help market players strengthen their customer base and expand the product portfolio.
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In November 2021, Perspectum partnered with HepQuant to provide seamless delivery of HepQuant’s liver function assessment technology via Perspectum’s Contract Research Organization (CRO) services. The collaboration has enabled pharmaceutical companies sponsoring clinical trials for liver diseases, such as liver cirrhosis, nonalcoholic steatohepatitis (NASH), autoimmune liver diseases, and liver cancer, to receive both imaging and function testing expertise from Perspectum’s Pharma Solutions.
In August 2021, Illumina, Inc. acquired GRAIL, a healthcare company focused on life-saving early detection of multiple cancers, but will hold GRAIL as a separate company during the European Commission's ongoing regulatory review. There was no legal impediment to acquiring GRAIL in the US. The decision to make the acquisition and hold the companies separate permits the regulatory processes to proceed while safeguarding the life-saving, pro-competitive benefits of this vertical transaction without the deal expiring.
In June 2021, Koninklijke Philips N.V. partnered with Elekta to advance comprehensive and personalized cancer care through precision oncology solutions. The extended collaboration builds on the two companies’ successful cooperation in the fast-emerging field of magnetic resonance (MR)-guided adaptive radiation therapy. The cross-portfolio collaboration leveraged company's capabilities to pursue integrated vendor-agnostic solutions, enhancing interoperability between the two parties’ systems and software in order to drive precision in oncology.
In May 2021, GE Healthcare acquired Zionexa, a France-based in-vivo oncology and neurology biomarker developer, to further develop molecular imaging agents for cancer treatment. As per the the agreement, GE Healthcare got the right to develop and commercialize the Zionexa biomarkers and positron emission tomography (PET) imaging agent, Cerianna (fluoroestradiol F-18).
In April 2021, Siemens Healthineers AG acquired Varian Medical Systems, Inc. to create most comprehensive cancer care portfolio in the industry. The acquisition was previously announced on August 2, 2020. The two companies are building a strategic partnership called EnVision, which sets out to create a digital, diagnostic, and therapeutic ecosystem that includes treatment management.
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In January 2021, Perspectum collaborated with University of Oxford and Hampshire Hospitals NHS Foundation Trust (HHFT) to launch a study to use precision medicine for improving the outcomes for liver cancer patients. This study, in collaboration with leading experts from HHFT, has developed state-of-the-art tools that integrate genetic, radiology, and pathology information to improve the diagnosis and characterisation of tumours.
In May 2019, QIAGEN entered into public private partnership with the UK-based organizations to launch APIS Assay Technologies Ltd. Currently, APIS has three tests in development, including a test for prognostic breast cancer diagnostics. APIS hopes to use the insights gained in oncology to expand its diagnostics services in the areas, such as liver and lung diseases, pharmacogenomics and reproductive diagnostics, with the help of multiple technology platforms, such as PCR and NGS, and a wide range of sample types, from tissue to liquid biopsies.
Global Liver Cancer Diagnostics Market: Key Insights – Future Trends
There are several types of liver cancer in adults, and the two most common types are hepatocellular carcinoma (HCC) and intrahepatic cholangiocarcinoma (ICC). HCC is the most common form of liver cancer among adults in the US, and ICC is a type of liver cancer that occurs in parts of the bile ducts within the liver. Rising advancements in three-dimensional reconstruction image processing technology transformed liver two-dimensional image data into three-dimensional stereoscopic models, and three-dimensional reconstructed images can be restored to real physical models by 3D printing technology. Further, intuitively exhibiting comprehensive information such as variations of intrahepatic blood arteries in greater accuracy and detail is now possible with computer-generated 3D visualization or 3D printed modeling. Moreover, liver volume computation to surgical navigation is vastly improved due to 3D visualization or 3D printed modelling, which allowed for detailed classification of hepatic vessels and liver segmentation, known as Fang’s segmentation, used in diagnosing and treating primary liver cancer.
According to a multi-center study from China, postoperative liver failure and perioperative mortality rates in patients who used 3D visualization were 0.8% and 0.2%, respectively, significantly lower than those who did not use 3D visualization, as reported in comparative international literature. Moreover, due to the rapid development in computer science in the last several decades, especially in artificial intelligence (AI), concepts like machine learning, deep learning, and big data have been applied in many aspects. Deep learning based on artificial neural networks expands the scope of artificial intelligence in the medical field. The research of Radiomics of deep learning is one of the most popular research fields at present. The study of liver diseases by radiomics will contribute to the early diagnosis and treatment of liver diseases and improve survival and cure rates of liver diseases. Thus, the rising emergence of new technologies will fuel the market's growth during the forecast period.
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Liver Cancer Diagnostics Market: Segmental Overview
Based on type, the liver cancer diagnostics market is segmented into laboratory tests, endoscopy, imaging, biopsy, and others. The laboratory tests segment held the largest market share in 2021. Moreover, the same segment is anticipated to register the highest CAGR during the forecast period. The market for the laboratory test segment is further bifurcated into blood tests and biomarkers. The strong preference for laboratory tests due to their correctness and cost-efficiency can be linked to their big market and expansion. Laboratory tests are used to assess high-risk patients and determine therapy options, disease stages, and treatment effects on the patients.
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