A new report by Transparency Market Research features the key factors responsible for the growth of the global liver function tests market. As per the report, the global liver function tests market is expected to be benefited from the rising consumption of alcohol, the increasing number of cases of liver diseases, and the increasing awareness of live function tests. Liver function tests analyze various factors in the blood including albumin, alanine aminotransferase, aspartate aminotransferase, transaminases, alkaline phosphatase, bilirubin, and gamma glutamyl transpeptidase. Over the past decade, liver function tests have become one of the primarily used blood screening tests.
The report, titled “Liver Function Tests Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” states that liver function tests analyze the functioning of the liver and also identifies the damaged areas. Liver function tests help to evaluate two of the liver enzymes present in the blood namely, Alanine aminotransferase (ALT) and Aspartate aminotransferase (AST). Primarily used for conducting a blood routine analysis, liver function tests are also conducted for monitoring disease activities and investigating suspected liver diseases. Advancements in medical technology and medical devices have enabled liver function tests to avail information on various disease processes.
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The inability to identify the disease is a vital challenge related to the chronic liver disease. Liver function tests are most used by the healthcare professionals to differentiate between various kinds of liver disorders, evaluate the extent of damage, identify the liver diseases, and report the response for suitable treatment.
The global liver function tests market is expected to witness a significant growth in the coming few years. According to the World Health Organization, every year, approximately 350 million people are diagnosed with hepatitis B. The increasing number of people being diagnosed with hepatitis B and other chronic liver diseases is likely to propel the global liver function tests market. Key companies operating in the global liver function tests market are concentrating on adopting new technologies to introduce new tests. Some of the leading companies operating in this market are Alpha Laboratories, ELITechGroup, Laboratory Corporation of America Holdings, Thermo Fisher Scientific Inc., Biobase Group, Horiba Medical, Randox Laboratories Ltd.
The global liver function tests market is geographically divided into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. Currently, North America dominates the global liver function tests market, followed by Europe. Upcoming technologies, rising healthcare infrastructure, advancements in diagnostic equipment, and increasing disposable income are some of the factors expected to propel the North America liver function tests market. However, going forward, the Asia Pacific liver function tests market is expected to register a high growth potential owing to the rising occurrence of chronic liver diseases.
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