Liver Cancer Diagnostics Market

The global Liver Cancer Diagnostics Market is valued at USD 10.17 Billion in 2023 and is projected to reach a value of USD 19.31 Billion by 2032 at a CAGR (Compound Annual Growth Rate) of 7.38% between 2024 and 2032.

Key Highlights:

• The increasing incidence of liver cancer, driven by factors like chronic hepatitis B and C infections, is creating a growing demand for Liver Cancer Diagnostics worldwide,
• Advancements in imaging technology, including CT scans, MRI scans, X-rays, and ultrasound, will enhance the accuracy and affordability of liver cancer diagnosis,
• North America emerged as the dominant Liver Cancer Diagnostics market in 2023, commanding a substantial market share exceeding 43.1%,
• The Asia Pacific region is poised for substantial growth from 2024 through 2032, underscoring its significance as a pivotal market driver,
• By the segmentation of the Test Type, the Laboratory Tests segment captured the highest market share of 37.1% in 2023,
• Based on the End-use segmentation, the Hospitals & Diagnostic Laboratories segment accounted for about 46.1% of the market share in 2023.

Regional Overview:

The North America Liver Cancer Diagnostics market exhibited substantial dominance in 2023, capturing 43.1% of the revenue share

This growth is attributed to robust healthcare infrastructure, comprehensive reimbursement systems, and widespread adoption of innovative diagnostic tools. Government support from agencies like the CDC, NIH, and IARC further fuels research and development in this field. The region hosts numerous market players, facilitating easy access to cutting-edge solutions. Liver cancer poses a significant health challenge in the U.S., with rising incidence rates and mortality rates. The market is in a medium growth stage with accelerating industry growth, driven by advancements such as liquid biopsy tests, genomic profiling, and AI-based diagnostics.

Asia Pacific Overview:

In Asia Pacific, the Liver Cancer Diagnostics market is poised for substantial growth, attributed to factors like a rapidly aging population and increasing initiatives by governments and private organizations to enhance healthcare accessibility. The region's significant geriatric population, a key driver of the market's expansion, and prevalent risk factors contribute to the anticipated market growth. Early detection initiatives are gaining traction, driving the adoption of diagnostic technologies in the region. With promising growth prospects, Asia Pacific will emerge as a key market player in Liver Cancer Diagnostics in the forecast years.

Government Initiatives:

United States:

• The FY 2024 Budget boosts the Cancer Moonshot initiative to improve cancer prevention, detection, and treatment, with USD 1.7 billion for activities at the National Cancer Institute (NCI), Centres for Disease Control and Prevention (CDC), Food and Drug Administration (FDA), and other agencies.
• An overall USD 7.8 billion investment for the NCI, supplemented by USD 2.5 billion from ARPA-H, aims to advance Moonshot's goals.
• The Department of Veterans Affairs (VA) dedicates USD 360 million to cancer research and patient care.
• The U.S. Department of Agriculture (USDA) commits USD 40 million to prevent nutrition-related diseases.

European Union

• With €4 billion in funding, Europe's Beating Cancer Plan aims to reduce cancer rates by 2035.
• The plan targets 90% HPV vaccination for girls and significant coverage for boys by 2030 to prevent related cancers.
• €1.25 billion is allocated from the EU4Health program to support cancer prevention through vaccinations and other initiatives.

United Kingdom

• The NHS Cancer Programme invests £12.1 million in six innovations for early cancer detection and diagnosis, enhancing efficiency and communication.
• Efforts focus on diagnosing liver cancer early, improving patient survival rates from 5% at stage 4 to 45% with early detection.

Test Type Overview:

In 2023, the global Liver Cancer Diagnostics market saw significant growth, particularly in the Laboratory Tests segment, which held a dominant 37.1% share. The Test Type segment is separated into Laboratory Tests, Imaging, Endoscopy, Biopsy, and Others. The Laboratory Tests segment thrived due to its high accuracy and cost-efficiency preference. These tests are crucial for screening high-risk patients and guiding treatment plans by assessing their impact on other organs. The segment is expected to grow rapidly during the forecast period, driven by the reliability and affordability of laboratory tests. These tests facilitate early detection, help pinpoint the root cause and stage of liver tumors, and monitor treatment effectiveness. Their extensive applications, including evaluating recurrence post-treatment, contribute to the segment's rapid growth and large market share.

End Use Overview:

In 2023, the global Liver Cancer Diagnostics market witnessed significant growth, with the Hospitals & Diagnostic Laboratories category dominating at a remarkable 56.1% share. The Applications segment is categorized into Hospitals & Diagnostic Laboratories, Academic & Research Institutes, and Pharmaceutical & CRO Laboratories. Hospitals are vital for primary diagnosis and care for most people, making them key settings for diagnosing and treating medical conditions, including hepatocellular carcinoma (HCC). Diseases such as HCC and cholangiocarcinoma require long-term management and treatment facilities available in hospitals. These institutions offer cost-effective screening products and benefit from the presence of skilled professionals, advanced techniques, and efficient sample collection processes. Consolidating these resources in one location ensures a short turnaround time, making hospitals highly preferred. Consequently, hospitals and diagnostic laboratories lead the Liver Cancer Diagnostics market, contributing significantly to its revenue generation.

Key Trends

1. Rising Prevalence of Liver Cancer: The increasing incidence of liver cancer, driven by factors like chronic hepatitis B and C infections, is creating a growing demand for Liver Cancer Diagnostics worldwide.
2. Impact of Chronic Infections: Chronic infections like hepatitis B and C significantly elevate the risk of liver cancer. With millions affected globally, there's a pressing need for diagnostics to detect and manage this risk.
3. Lifestyle Factors Driving Demand: Unhealthy lifestyle choices such as poor diet, lack of exercise, and excessive alcohol consumption contribute to chronic conditions like diabetes and cancer, including liver cancer. This trend is fueling the demand for diagnostics to detect and manage these conditions effectively.
4. Importance of Early Detection: Early detection of liver cancer is crucial for better patient outcomes. As a result, there's an increasing emphasis on Liver Cancer Diagnostics to detect the disease early, assess its severity, and guide appropriate treatment strategies.

The Global Scenario of Liver Cancer Cases

A recent study in the Journal of Hepatology by scientists from the International Agency for Research on Cancer (IARC) estimates that liver cancer cases and deaths will rise by over 55% by 2040. In 2020, 905,700 people were diagnosed with liver cancer, and 830,200 died from it. If current trends continue, these numbers could reach 1.4 million diagnoses and 1.3 million deaths annually by 2040. Liver cancer is currently the third leading cause of cancer deaths globally and ranks among the top five cancer killers in 90 countries. Despite this, research shows that most liver cancer cases are preventable.

Funding Scenario:

Recent funding boosts aim to advance Liver Cancer Diagnostics. The £2.2 million AMULET clinical study, led by universities including Oxford and Glasgow Caledonian, explores new imaging for liver cancer in cirrhosis patients. A new liver cancer blood test project received USD 2.5 million, with contributions from Curtin University and the Harry Perkins Institute, among others. In the U.S., the National Cancer Institute granted USD 3.5 million to UCLA to develop a blood-based early detection method, establishing the UCLA Centre for the Early Detection of Liver Cancer. UNSW Microbiome Research Centre received USD 4 million to develop AI-powered microbial biomarkers. Additionally, UWA Medical School’s nationwide trial, funded with USD 3.2 million, aims to identify cirrhosis and liver cancer earlier in 2800 at-risk patients across Australia. These initiatives highlight significant investments and collaborations driving forward liver cancer diagnostic innovations.

‹›

Report Coverage & Deliverables

PDF report & online dashboard will help you understand:

• Real-Time Data Updates:
• Competitor Benchmarking
• Market Trends Heatmap
• Custom Research Queries
• Market Sentiment Analysis
• Demographic and Geographic Insights

Book Demo

Get Access Now

Track market trends LIVE & outsmart rivals with our Premium Data Intel Tool: Vantage Point

Market Dynamics

Rising Cancer Incidence and Lifestyle Changes Driving the Growth

Over the past decade, cancer cases, particularly liver cancer, have surged due to lifestyle changes such as increased obesity, tobacco, and alcohol consumption. This trend is expected to continue, driving demand for effective diagnostics like HCC and liver carcinoma diagnostics.

Technological Advancements driving the Liver Cancer Diagnostics Market Growth

Advancements in imaging technology, including CT scans, MRI scans, X-rays, and ultrasound, will enhance the accuracy and affordability of liver cancer diagnosis. Additionally, the demand for endoscopy and laparoscopy tests is expected to grow as their applications expand.

High Cost of Advanced Diagnostics and Limited Access to Screening

The high cost of advanced diagnostic solutions may hinder market growth, especially in developing countries like South Africa, Mexico, Colombia, and Iran. This unaffordability leads to poor patient outcomes and increased susceptibility to liver cancers. Constrained insurance and reimbursement frameworks in developing economies further restrict access to screening tests, exacerbating the challenges in these regions.

Competitive Landscape

Accurate liver cancer diagnosis is essential for treatment selection. Companies are actively innovating in response to the rising demand for early detection. This commitment to innovation is not only meeting the market demand but also shaping the future of Liver Cancer Diagnostics. The Liver Cancer Diagnostics market is rapidly growing as key players expand their presence through strategic initiatives. For instance, in January 2022, Thermo Fisher Scientific partnered with OncoCyte Corporation to enhance their precision oncology diagnostics. Such collaborations drive market growth and improve patient outcomes, painting an optimistic picture of the future of Liver Cancer Diagnostics.

Recent Market Developments

Intel Recent Innovation in the Liver Cancer Diagnostics Market by UC Davis Health

In February 2024, a team of UC Davis Health clinicians and data scientists developed a machine-learning model to predict better which patients are at greater risk of developing hepatocellular carcinoma (HCC), a common type of liver cancer.

Recent Innovation in the Liver Cancer Diagnostics Market by Haystack Oncology and TriSalus Life Sciences

In January 2024, a powerful collaboration was forged between Haystack Oncology, the developer of Haystack MRD™, and TriSalus Life Sciences. This joint effort is focused on the clinical development of TriSalus' TLR9 agonist, with a specific emphasis on hepatocellular carcinoma, intrahepatic cholangiocarcinoma, and pancreatic adenocarcinoma.

The global Liver Cancer Diagnostics market can be categorized as Test Type, End Use, and Region.