Global Liver Disease Diagnostics Market By End User (Hospitals, Laboratories and Other End Users), By Diagnosis Technique (Imaging, Biopsy, Endoscopy, Laboratory tests and Other Diagnosis Techniques), By Region, Industry Analysis and Forecast, 2020 - 2026
The Global Liver Disease Diagnostics Market size is expected treach $40.7 billion by 2026, rising at a market growth of 6.5% CAGR during the forecast period. The liver is a vital organ that primarily functions tmetabolize and detoxify toxic substances that may be harmful tthe body. Liver disease refers tany illness that induces inflammation of the liver and may interfere with the proper functioning of the liver. The causes of liver disease include infection, autoimmune disorders, excessive-intake of drugs, injury, alcohol consumption, among others.
Liver diseases impact millions of people all over the world. In most developing nations, the prevalence of viral hepatitis is increasing as a result of modern advances in disease prevention, diagnosis, and treatment. Extended programs for systematic vaccination against the hepatitis B virus have alssignificantly reduced the number of new cases in many countries.
On the contrary, with better living conditions, the prevalence of the chronic liver disease, including non-alcoholic fatty liver disease and alcohol-related liver disease, is expected tescalate, potentially leading tmore cases of end-stage liver disease (liver failure, cirrhosis, and liver cancer). During the last 30 years, visionary governments of major nations have given clear incentives for basic/clinical research, vaccination services, and drug discovery and production in the field of hepatology.
Changing habits, such as increased alcohol intake, unhealthy diets, have increased the occurrence of liver disease. Furthermore, the increasing geriatric population has contributed tsignificant growth in the global demand for the treatment of liver disease. There is a significant market opportunity for this market because the prevalence of disorders has become common. Government and non-government awareness programs will contribute tthe growth of the liver disease treatment industry.
Nonetheless, stringent government regulations (FDA, MHRA), high prices of drug research and development, pose a crucial challenge tthe liver disease treatment industry. Side effects associated with medications are a growing concern that consumer demand is expected tdecline. Patent expiry and increasing general awareness of health will promote the development of the sector. New research and technology would create an immense opportunity for market players.
Based on End User, the market is segmented intHospitals, Laboratories and Other End Users. Based on Diagnosis Technique, the market is segmented intImaging, Biopsy, Endoscopy, Laboratory tests and Other Diagnosis Techniques. Based on Regions, the market is segmented intNorth America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, F. Hoffmann-La Roche Ltd., Boston Scientific Corporation, Siemens AG (Siemens Healthineers), Bayer AG, Merck & Co., Inc., Sanofi S.A., Novartis AG, Pfizer, Inc., and Randox laboratories limited.
Strategies deployed in Liver Disease Diagnostics Market
Mar-2020: Roche announced that it received the US Food and Drug Administration (FDA) breakthrough device designation for its Elecsys GALAD score, a serum biomarker-based model. This model can predict hepatocellular carcinoma in chronic liver disease patients.
Jan-2020: Siemens launched the enhanced liver fibrosis (ELF) testing service in United States. The ELF test provides a simple, unitless numeric score via an algorithm by combining the quantitative measurements in a serum sample of three direct markers of liver fibrosis: aminoterminal propeptide of type III procollagen (PIIINP), hyaluronic acid (HA), and tissue inhibitor of metalloproteinase 1 (TIMP-1).
Nov-2019: Siemens collaborated with Galectin Therapeutics, the leading developer of therapeutics that target galectin proteins. The collaboration was focused on nonalcoholic steatohepatitis (NASH) and liver fibrosis. This collaboration enabled Siemens Healthineers tuse Galectin’s Phase 2 NASH-CX clinical trial tsupport regulatory filings of the ADVIA Centaur® Enhanced Liver Fibrosis (ELF) test.
Aug-2019: Boston Scientific completed the acquisition of BTG PLC, a company that develops and commercializes products used in minimally-invasive procedures targeting cancer and vascular diseases, as well as specialty pharmaceuticals. The acquisition enabled it toffer best-in-class technologies, unparalleled clinical evidence and a strengthened commercial infrastructure tsupport physicians treating some of the most challenging diseases impacting patient health around the world.
Feb-2019: Abbott got CE Mark for the world's most sensitive rapid diagnostic test for the detection of hepatitis B surface antigen, the Determine HBsAg 2 test. This highly sensitive, easy-to-use, rapid lateral flow test enabled identification of those with the virus and facilitates linkage tcare in every healthcare setting. Hepatitis B is a serious liver infection caused by the hepatitis B virus (HBV).
Dec-2017: Siemens Healthineers signed an agreement tacquire Fast Track Diagnostics (FTD), a global supplier of diagnostics tests. The acquisition would strengthen and expand its presence in the field of molecular testing and precision medicine.
Oct-2017: Abbott acquired Alere, a company that provides diagnostics and point of care solutions. The acquisition helped Abbott in becoming the global leader in point of care testing, the fastest-growing segment in vitrdiagnostics market. It alsstrengthened the company's diagnostics presence.
Aug-2017: Abbott signed an agreement with North West London Pathology (NWLP), hosted by Imperial College Healthcare NHS Trust. The agreement was focused on supplying all analytical equipment and consumables. The agreement included Abbott’s Alinity ci and Alinity h series of diagnostic instruments, as well as the company’s professional services and informatics solutions known as AlinIQ.
Scope of the Study
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