Liver Cancer Diagnostics Market Scenario Highlighting Major Drivers & Trends, 2017 – 2022
Liver cancer is the form of cancer wherein tissues of liver are affected by hepatitis B or hepatitis C virus. Cancer formed in the tissues of liver is termed as primary liver cancer, while the cancer which spreads to the liver from other parts of the body is known as secondary liver cancer.
Fact.MR, in its recent study, projects the global liver cancer diagnostics market to register a steady expansion at 5.5% CAGR during the forecast period 2017 to 2022. In 2017, the global market for liver cancer diagnostics is expected to reach nearly US$ 700 Mn in revenues.
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Prevalence of Liver Cancer to be reduced by Hepatitis Immunization and Lifestyle Modification
Liver cancer, the fifth most common cancer, accounted for 9.1% deaths among all cancer patients worldwide in 2012. Poor survival rate and extremely aggressive nature attributed to liver cancer has made this disease to become an imperative health issue around the world. Various risk factors have been associated with liver cancer, which include hepatitis B virus (HBV), exposure to dietary aflatoxin, alcohol-induced cirrhosis, diabetes, obesity, and infection associated with hepatitis C virus (HCV). As these risk factors are modifiable, a strong prospect has been offered for reducing its prevalence and mortality with the help of preventive strategies including hepatitis immunization and lifestyle modification.
Liver cancer, or, hepatocellular carcinoma (HCC) has been observed to cause a large number of deaths annually. In a bid to prevent liver cancer from reaching the final stage, scientists around the world have developed a slew of improved diagnostic solutions. Newer techniques are being developed for the diagnosis of hepatocellular carcinoma, rendering both partial hepatectomy, and liver transplant safer and more effective. Global leading medical instrument manufaturers are focusing on the development of new novel instruments in order to diagnose liver cancer completely. These factors are estimated to drive growth of the global liver cancer diagnostics market during the forecast period.
North America to Remain Dominant in the Global Liver Cancer Diagnostics Market
North America is expected to remain dominant in the global liver cancer diagnostics market, in terms of revenues. In addition, the markets for liver cancer diagnostics in North America and Europe are estimated to exhibit a parallel expansion at 5.6% CAGR through 2022. In contrast, markets in Japan and MEA are expected to exhibit a sluggish expansion during the forecast period.
Based on test type, biopsy test segment is expected to register the highest CAGR in the market through 2022, followed by LFTs. AFP test is estimated to remain preferred for liver cancer diagnostics in the global market. Revenue from AFP test is expected to account for over half share of the market in 2017, and is estimated to gain 52 BPS in its market share between 2017 and 2022.
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Hospital-associated Labs to Remain Sought-after for Liver Cancer Diagnostics
Hospital-associated labs will continue to be sought-after for liver cancer diagnostics across the globe. Liver cancer diagnostics in hospital-associated labs will account for the largest revenues by 2022-end. Independent diagnostic laboratories will remain the second most lucrative end-users in the global liver cancer diagnostics market. In addition, liver cancer diagnostics in cancer research institutes are expected to register the fastest expansion over the forecast period.
The report has also profiled leading players in the global liver cancer diagnostics market, which include Illumina, Inc., Foundation Medicine, Inc., Danaher Corporation
Sysmex Corporation, and Biocept, Inc.