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), End User (Hospitals & Diagnostic Laboratories, Academic & Research Institutes, and CRO Laboratories), and Geography,” the market is projected to grow from US$ 9,323.14 million in 2021 to US$ 15,951.77 million by 2028; it is estimated to grow at a CAGR of 8.0% from 2021 to 2028. Factors such as the rising prevalence of liver cancer and increasing R&D investments in the development of novel diagnostic testing drive the market growth.
Cancer is defined as the abnormal growth of cells in the body. Cells located in any part of the body can turn cancerous and spread to other parts of the body. Liver cancer starts in the cells of the liver. Multiple kinds of cancer can form in the liver. Hepatocellular carcinoma is considered the most common liver cancer and starts in the hepatocyte. Several other types of liver cancer include hepatoblastoma and intrahepatic cholangiocarcinoma. These are considered to be less common. By the American Society of Clinical Oncology (ASCO), about 80% of adult primary liver cancers are hepatocellular carcinomas. Liver cancer diagnostics include techniques used for liver cancer identification and confirmation.
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The North America region secures a substantial share of the global liver cancer diagnostics market. The growth of the market in the region is attributed by the rising prevalence of liver cancer. In North America, the US is the largest market for liver cancer diagnostics. The growth of this market is primarily driven by the growing prevalence of liver cancer diseases, technological advancements and developments in the US are going to accelerate the growth of this market in this country.
The liver cancer diagnostics market growth is attributed to the rising prevalence of liver cancer and increasing R&D investments in the development of novel diagnostic testing. On the other hand, the high cost of technologically advanced liver cancer diagnostic solutions hinders the growth of the market.
Browse key market insights spread across 181 pages with 84 list of tables & 73 list of figures from the report, “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)” in detail along with the table of contents: https://www.theinsightpartners.com/reports/liver-cancer-diagnostics-market
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.
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).
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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.
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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