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Liver Disease Diagnostics Market: Global Opportunity Analysis and Industry Forecast 2020–2027

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Feb 2021 | 65 Views
 
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COVID-19

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Liver disease diagnostics involve various types of tests that can help to understand the state of the liver. Liver helps to channel the blood flow and procedures throughout the body. It also helps in the coagulation of proteins in the blood, destructive substances detoxification, and utilization of supplements. Liver cells can complete the synthetic responses due to the presence of special compounds in liver cells. When the cells die, these compounds get released in the blood vessels, which help in dissection while performing tests related to liver capacities. Liver diseases are caused due to various reasons such as infective, autoimmune, genetic or metabolic sometimes. Different causes for the diseases make it tough in diagnosis. Therefore, several tests need to be run for the accurate diagnosis of the cause of the disease. Some patients show symptoms, such as fatigue, weakness, and nausea sometimes, if they are suffering from liver disorders. Sometimes, the symptoms also show jaundice, fever, and pain in the liver’s upper part.

These liver diagnosis tests mainly include the following three types of tests:

  • Radiological studies
    • Ultra sonogram of the abdomen
    • CT scan
      • MRI or magnetic resonance imaging
      • ERCP
  • Liver biopsies
    • In this technique, the physician uses long thin needles.
  • Laboratory examination
    • Blood:
      • Serum enzymes
      • Alkaline phosphate and gamma-glutamyltransferase
      • Blood levels of bilirubin rise in liver disease
      • Ascitic fluid

Market scope and structure analysis:

Report Metric

Details

Market size available for years

2019–2027

Base year considered

2019

Forecast period

2020–2027

Forecast unit

Value (USD)

Segments covered

Diagnosis Technique, End User, Applications

Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

Companies covered

Abbott, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Randox Laboratories Ltd., Boston Scientific Corporation, Laboratory Corporation of America Holdings, Fujifilm Corporation, Horiba Medical, and Siemens Healthcare GmbH

 

COVID-19 scenario analysis:

  • At the early phase of the COVID-19 pandemic, there was no availability of specific diagnostic tests to detect the disease in patients. Alternative diagnostic tests were used initially, but were not much effective. 
  • This unavailability of specific COVID-19 diagnostic tests presented lucrative opportunities for diagnostic manufacturers to introduce their COVID-19 diagnostic kits. Many leading players as well as some startups from various countries utilized this opportunity and introduced COVID-19 diagnostics kits into local as well as global markets. These players achieved edge over other diagnostics players capitalizing the opportunity from demand for COVID-19 diagnostic tests, which, in turn, helps them to maintain their revenues in such a crisis.
  • Attributed to such factors, COVID 19 is expected to have a significant impact on the liver disease diagnostics market.

Top impacting factors: Market scenario analysis, trends, drivers and impact analysis

Increase in frequencies in the number of chronic liver and acute diseases and initiatives taken up by the major companies, which help in the upgrades of rapid and highly sensitive tests for the detection of diseases associated with the liver are the major factors that propel the growth of the liver disease diagnostics market.

Moreover, there has been a huge rise in R&D activities and the funding is improving the accuracy of the diagnostics system, which is expected to ultimately help in the early detection of diseases. These factors affect the growth of the liver disease diagnostics market. In addition, there has been rise in the policies for reimbursements by various health insurance companies, such as Medicaid and Medicare, which help in the acceleration of the liver disease diagnostics market. There has also been an addition in the new procedures for the diagnosis of these diseases that drive the growth of the liver disease diagnostics market. Furthermore, expensive costs of the test are the major challenges faced by the liver disease diagnostics market. 

New product launches and acquisitions to boost the market

On February 20th, 2019, Abbott got approval and the CE mark for the determination of the HBsAg 2 test, which are very easy to use and sensitive. These tests are used to detect hepatitis B. On March 5th, 2020, F. Hoffmann-La Roche Ltd. received approval for its Breakthrough Device Designation. On August 19th, 2019, BTG Plz. was acquired by Boston Scientific Corporation, which helped to access new and upgraded technologies for the betterment of patient care.

Surge in usage in hospital applications

Hospitals, laboratories, and others are the major consumers of the liver disease diagnostics market. Among them, hospitals are the biggest end-users as patients usually visit hospitals, which have various devices for diagnostic testing. Patients get all the care they need in hospitals where they get early detection & diagnosis facilities. Moreover, there have been upgrades observed in the healthcare sectors and expansion of hospital infrastructures. In addition, the laboratories segment is also growing in recent years as institutes and laboratories have various programs to spread the awareness for the diagnosis of hepatic organ disease.

Key segments covered:

Segments

Sub-segments

  Diagnosis Technique

  • Imaging
  • Laboratory tests
  • Endoscopy
  • Biopsy
  • Others

  End User

  • Hospitals
  • Laboratories
  • Others

  Applications

  • Disease Diagnose
  • Blood Routine Analysis
  • Disease Prevention
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the liver disease diagnostics market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the liver disease diagnostics market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the liver disease diagnostics market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the liver disease diagnostics market research report:

  • Which are the leading market players active in the market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps? 
 
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