Liver Disease Diagnostics Market to Surpass $50.61 Billion By 2028 | Exclusive Study by Polaris Market Research

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Apr 27, 2021, 08:30 ET

NEW YORK, April 27, 2021 /PRNewswire/ -- The liver disease diagnostics market is projected to cross USD 50.61 billion by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 6.7% from 2021 – 2028. Growing prevalence of life-related disorders creating a huge burden on liver diseases, thereby augmenting the growth of the market. In addition to this, a growing population of patients detected with a target disease in developed and developing countries across the globe is expected to create huge opportunities for market players to excel in their operations. Furthermore, an increase in research initiatives and heavy funding by industry participants to improve their product offerings is further driving the market growth. Moreover, rapid development and increasing commercialization of accurate diagnostics methods are anticipated to boost the market.

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Key Highlights of Liver Disease Diagnostics Market

In terms of diagnosis, the imaging segment dominated the global liver disease diagnostics market in terms of sales. This is due to an increase in the number of projects being undertaken by key market players to develop advanced imaging techniques.
Based on end-use, the hospital segment accounted for the largest market share. This segment's growth is expected to be fueled by factors such as increased acceptance of new technology and favorable reimbursement policies.
The market in North America is expected to be driven by new product launches in developing economies, as well as aggressive marketing strategies implemented by public-private organizations.
Favorable reimbursement plans under various health insurance schemes provided by respective regulatory bodies are expected to create lucrative growth opportunities for the market players.

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Regional Developments:

North America led the global market for liver disease diagnostics in terms of sales, followed by the market in Europe. This can be attributed to a large number of key industry players present in these regions, as well as increased investments in R&D initiatives. Furthermore, the continuous improvement of healthcare infrastructure is expected to improve existing facilities, thereby contributing to the liver disease diagnostics market's potential future revenue growth. In the Asia Pacific, the market's rapid growth is attributed to an increase in the prevalence of liver disease as a result of increased alcohol intake in Asia's developing countries, which is a major factor driving demand for liver disease diagnostics.

Competitive Outlook:

The liver disease diagnostics market is primarily driven by the increasing focus of companies on alliances and partnerships to improve the quality of treatment. The market growth is also fueled by researchers conducting studies to support the creation of novel diagnostic methods that can reliably distinguish between benign and malignant lesions. Several prominent players holding a dominant position in the liver disease diagnostics market are Horiba Medical, Abbott, Fujifilm Corporation, Roche Ltd, Randox Laboratories Ltd., Boston Scientific Corporation, Thermo Fisher Scientific Inc., Laboratory Corporation of America Holdings, and Siemens Healthcare GmbH.

Target Audience

Supply Side: Healthcare Company, Diagnostic Solution Provider
Demand Side: Hospitals, Clinics, Laboratories
Regulatory Side: World Health Organization

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Polaris Market research has segmented the liver disease diagnostics market report on the basis of diagnosis technique, type, and region:

Liver Disease Diagnostics, Diagnosis Technique Outlook (Revenue – USD Million, 2016 – 2028)

Imaging
Laboratory tests
Endoscopy
Biopsy
Others

Liver Disease Diagnostics, End-Use Outlook (Revenue – USD Million, 2016 – 2028)

Hospitals
Laboratories
Others

Liver Disease Diagnostics, Regional Outlook (Revenue – USD Million, 2016 – 2028)

North America

U.S.
Canada

Europe

France
Germany
UK
Italy
Spain
Netherlands
Austria

Asia Pacific

China
India
Japan
Malaysia
South Korea
Indonesia

Central & South America

Mexico
Brazil
Argentina

Middle East & Africa

UAE
Saudi Arabia
Israel
South Africa

Leading Company Profiles Of Liver Disease Diagnostics Industry

Horiba Medical
Abbott Laboratories
Fujifilm Corporation
Roche Ltd.
Randox Laboratories Ltd.
Boston Scientific Corporation
Thermo Fisher Scientific Inc.
Laboratory Corporation of America Holdings
Siemens Healthcare GmbH
GE Healthcare

*Note: Additional companies can be included on request

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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