Liver Cirrhosis Diagnostic Tests: Introduction
- Liver cirrhosis, also called hepatic cirrhosis, is a progressive chronic medical condition characterized by the development of scar tissues in replacement with healthy liver tissues
- In liver cirrhosis, healthy liver tissues are destroyed and replaced by scar tissue, and the condition starts blocking of blood flow through the liver
- Liver cirrhosis is primarily caused by underlying liver diseases such as hepatitis, fatty liver disease, toxic metals, and excessive alcoholism
- Symptoms of liver cirrhosis do not appear in the primary stages of the disease; however, the normal functioning of the liver is affected as the disease progresses, leading to the exhibition of symptoms. The common symptoms of liver cirrhosis include loss of appetite, weight loss, visibility of blood capillaries on the skin and upper abdomen, pain in the abdomen, and nausea.
- Diagnosis of liver disease is carried out by various tests, which includes blood tests, imaging tests, biopsy tests, and endoscopy tests
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Liver Cirrhosis Diagnostic Tests Market: Key Drivers
- High prevalence and rise in incidence of liver disorders such as hepatitis, fatty liver disease, and excessive alcoholism across the globe are key factors driving the liver cirrhosis diagnostic tests market
- For instance, around 2 billion people across the globe are estimated to have either had or currently living with some form of hepatitis viral infection. According to World Health Organization, in 2016 around 399,000 people died worldwide due to hepatitis C, liver cirrhosis, and hepatocellular carcinoma.
- Technological advancements in diagnostic tools, such biopsy tests, imaging tests, and endoscopic tests and a rise in the demand for liver cirrhosis tests are estimated to contribute to propel the market during the forecast period
- High cost of imaging tests and lack of skilled professionals in low and middle income countries are likely to restrain the market during the forecast period
Liver Biopsy Tests Segment to be Highly Attractive
- In terms of tests, the global market can be segmented into blood tests, biopsy tests, and imaging tests. The liver biopsy tests segment is projected to dominate the global market during the forecast period.
- Liver biopsy tests involve extraction of a tissue sample from the liver for clinical examination. The liver biopsy procedure is usually performed by fine needle aspiration using endoscopic ultrasound for the detailed examination liver.
- The biopsy test is considered as the gold standard as this technique helps detect a wide range of liver diseases without the need for repeated samplings. Moreover, easy sampling and diagnosis owing to technological advancements have led to the wide acceptance of this test among end-users
Diagnostic Laboratories to be Highly Attractive Segment
- Based on end-user, the global liver cirrhosis diagnostics tests market can be classified into hospitals, diagnostic laboratories, and academic and research institutes. The diagnostic laboratories segment is projected to dominate the global market during the forecast period.
- Presence of a large numbers of diagnostic laboratories, easy availability and accessibility of test at these centers, and low cost are major factors that are likely to drive the diagnostic laboratories segment in the near future
- Rapid increase in the number of diagnostic laboratories in emerging economies, such as South Korea, India, China and Brazil, and foreign direct investments in diagnostic laboratories are factors that are likely to offer significant opportunity for expansion of the segment of the market during the forecast period.
Asia Pacific Liver Cirrhosis Diagnostics Market to Expand Rapidly
- In terms of region, the global liver cirrhosis diagnostics market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is likely to dominate the global market during the forecast period. High prevalence of hepatitis and fatty liver disease and rise in geriatric population are key factors that are expected to boost the market in the region during the forecast period.
- The liver cirrhosis diagnostics market in Asia Pacific is anticipated to expand at a notable CAGR during the forecast period. Rapid expansion of the market in the region can be ascribed to a rise in incidence rate of hepatitis disease and excessive alcoholism in densely populated countries, such as India and China, and improvement of healthcare infrastructure in the region.
- Significant expansion of the healthcare industry, easy access to healthcare facilities, and increase in investments in healthcare by leading players in Asia Pacific are expected to fuel the market in the region in the near future
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Key Players Operating in Global Liver Cirrhosis Diagnostics Tests Market
- The global liver cirrhosis diagnostics tests market is fragmented, with a large number of global players holding a majority share. Prominent players operating in the global liver cirrhosis diagnostic tests market include:
- Laboratory Corporation of America Holdings
- Hologic Inc.
- Olympus Corporation
- Stryker Corporation
- Koninklijke Philips N.V.
- Canon Medical Systems Corporation
- Argon Medical Devices, Inc.
Global Liver Cirrhosis Diagnostics Tests Market: Research Scope
Global Liver Cirrhosis Diagnostics Tests Market, by Tests
- Blood Tests
- Biopsy Tests
- Imaging Tests
Global Liver Cirrhosis Diagnostics Tests Market, by End User
- Diagnostic Laboratories
- Academic and Research Institutes
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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