Liver Disease Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Liver Disease Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The liver disease diagnostics market is expected to register a CAGR of 5.8% over the forecast period, 2022-2027.

COVID-19 had a significant impact on the diagnosis and treatment of diseases other than COVID-19 as all the resources were diverted for the COVID-19 patients and also, due to lockdown restrictions and high chances of contracting infection, the footfall in the hospitals and clinics reduced for diseases other than COVID-19 which was expected to have a significant impact on the studied market. However, it was reported that COVID-19 may have a severe impact on people with liver diseases which might have a positive impact on the liver disease diagnostics market. For instance, according to a research study published in May 2021, titled “Impact of COVID-19 in Liver Disease Progression”, the risk of severe COVID-19 was significantly associated with alcoholic liver damage and alcoholic liver cirrhosis, and also, cirrhosis is associated with immune dysfunction, which is related to a bad COVID-19 prognosis. Hence, COVID-19 is anticipated to have an impact on the liver disease diagnostics market.

The major factors that are expected to fuel growth in the liver disease diagnostics market are the increasing consumption of the alcohol and high prevalence of liver diseases around the world. For instance, according to the research study published in June 2021, titled “Global Epidemiology of Chronic Liver Disease”, chronic liver disease (CLD) is one of the leading causes of mortality and morbidity around the world and affects about 1.5 billion people across the world. Further, as per the same source, the most common causes of prevalent disease are non-alcoholic fatty liver disease (NAFLD) (59%), followed by hepatitis B (29%), hepatitis C (9%), and alcoholic liver disease (ALD) (2%). Similarly, according to a research study published in September 2021, titled “Global Prevalence of Hepatitis B Virus Serological Markers Among Healthcare Workers: A Systematic Review and Meta-Analysis”, hepatitis is a global public health issue, and the hepatitis B virus (HBV) infection affects around 2 billion individuals and results in 1 million fatalities each year. Also, as per the same source, healthcare workers (HCWs) are at high risk for HBV because of the occupational risk to patient blood. Hence, due to the high burden of liver diseases, the demand for liver disease diagnostics products is expected to increase which is anticipated to drive growth in the studied market.

In addition, the increasing consumption of alcohol and an associated risk factor for liver disease like obesity is further expected to have a positive impact on the market as these factors are expected to boost the demand for liver disease diagnostics products. For instance, according to a research study published in December 2021, titled “Effect of Increased Alcohol Consumption During COVID-19 Pandemic on Alcohol-Associated Liver Disease: A Modeling Study”, during the COVID-19 pandemic, a temporary rise in alcohol intake can significantly raise long-term ALD-related morbidity and mortality, and it was observed that the alcohol consumption increases up to 25% in the United States. Also, as per the same source, this increase in consumption can lead to 8,000 additional deaths from alcohol-related liver disease, 18,700 cases of liver failure, and 1,000 cases of liver cancer by 2040, which is expected to increase the demand for effective and advanced diagnostic tools so that appropriate medical attention can be provided to the patient. Therefore, due to the above-mentioned factors, the liver disease diagnostics market is expected to grow over the forecast period. However, high costs associated with liver disease tests are expected to restrain the growth of the studied market over the forecast period.

Key Market TrendsImaging Tests Segment is Expected to Hold a Significant Share in the Market Over the forecast Period

The imaging segment is expected to have significant growth in the market due to its high specificity when compared with other diagnostic techniques used in liver disease diagnostics. Ultrasonography, radionuclide scanning, computed tomography (CT), magnetic resonance imaging (MRI), endoscopic retrograde cholangiopancreatography (ERCP), percutaneous transhepatic cholangiography, and surgical cholangiography are imaging procedures for the liver, gallbladder, and biliary tract. The imaging tests help doctors with an accurate examination of the liver enabling them to early detection of morphological changes in the liver the imaging tests are used widely and hence, are expected to have a healthy growth over the forecast period. For instance, in 2022, the National Library of Medicine of the United States published that gradient recalled echo (GRE) MRI is the most accurate imaging method to detect the existence and severity of hepatic steatosis.

Additionally, the key players in the market of liver imaging diagnostics are partnering with each other to increase awareness and advance the early diagnosis of various liver diseases along with the development and launch of new products which are further expected to boost growth in the studied segment. For instance, in June 2022, Echosens and Novo Nordisk collaborated on the adoption of non-invasive diagnostic tests for non-alcoholic steatohepatitis (NASH) and work together to increase awareness of the disease and the importance of early diagnosis and management. By 2025, the firms hope to have doubled the rate of diagnoses for those with advanced to severe NASH. Therefore, due to the above-mentioned factors, the imaging tests segment in the liver disease diagnostics market is expected to have a significant share over the forecast period.

North America Region is Expected Occupy Major Share in the Market Over the Forecast Period

North American region is expected to dominate the market due to factors such as the high prevalence of liver diseases, high-alcohol consumption, the presence of advanced and robust healthcare infrastructure, and other factors. For instance, according to the 2021 report of the Canadian Liver Foundation, in 2020, non-alcoholic fatty liver disease was the most common liver disease, affecting over 7 million people and liver cancer is the fastest rising and deadliest form of cancer in Canada. Thus, the demand for liver disease diagnostics products in the region is expected to be high for the early detection of the disease which will fuel growth in the studied market in the North America region.

In the North American region, the United States is expected to dominate the market owing to the high burden of liver diseases and associated risk factors such as high consumption of alcohol and obesity. For instance, according to the January 2022 update of the Centers for Disease Control and Prevention, about 4.8 million people in the country are living with diagnosed liver disease. Further, as per the same source, alcohol consumption is also very high in the country which is one of the major factors responsible for the increase in the burden of liver disease and about 25.1% of adults of age 18 and more had approximately one heavy drinking day (five or more drinks for men and four or more drinks for women) in the previous years. Hence, the burden of liver diseases in the country is expected to increase over the years which is anticipated to have a positive impact on the market. Moreover, the growing health awareness along with the launch of new and advanced tests by the companies in the market is further expected to have a positive impact on the studied market. For instance, in January 2022, Siemens Healthineers launched enhanced liver fibrosis (ELF) test in the United States and the ELF test is one of the first prognostic blood tests granted De Novo marketing authorization to assess disease progression in non-alcoholic steatohepatitis (NASH) patients. Therefore, owing to the above-mentioned factors, the North American region is expected to hold a significant market share, in which the United States will be a major market for the liver disease diagnostics market over the forecast period.

Competitive Landscape

The liver disease diagnostics market is fragmented in nature due to the presence of several companies operating globally as well as regionally and thus, it is moderately competitive. SOme of the key companies operating in the industry are Abbott Laboratories, F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc, Randox Laboratories Ltd, Boston Scientific Corporation, Laboratory Corporation of America Holdings, Siemens Healthcare GmbH, BioMerieux SA, Quest Diagnostics Incorporated, Biosino Bio-Technology and Science Inc, and Echosens.

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