Liver Disease Diagnostics: Introduction
- The liver performs various vital functions in the body including metabolizing and detoxifying substances that would otherwise be harmful to the body; converting nutrients derived from food into essential blood components; producing bile, proteins, and enzymes, maintaining hormone balances; storing some vitamins; help the immune system fight infection; and removing bacteria from the blood
- However, global increase in the chronic diseases and lifestyle-related disorders is increasing the global burden of liver disease, thus driving the global liver disease diagnostics market
Key Drivers and Restraints of Global Liver Disease Diagnostics Market
- Increase in number of patients in developing as well as in developed economies across the globe is anticipated to fuel the liver disease diagnostics market during the forecast period
- Most prevalent types of liver disease are fatty liver, alcoholic hepatitis, and liver cirrhosis
- Hepatitis usually is diagnosed when a liver biopsy indicates liver degeneration, fibrosis, inflammatory changes, and other changes to liver cells. Common clinical signs of hepatitis include swollen liver, vomiting, nausea, and abdominal pain. Patients also may experience fever, liver failure, jaundice, and bleeding.
- According to National Institute on Alcohol Abuse and Alcoholism, in 2018, of the 83,517 liver disease deaths in the U.S. among individuals ages 12 and older, 42.8 percent involved alcohol.
Laboratory Tests to Lead Global Market
- The global liver disease diagnostics market can be segmented based on test type, indication, distribution channel, and region
- In terms of test type, the global liver disease diagnostics market can be classified into imaging, laboratory tests, endoscopy, biopsy, and others. Various laboratory tests to detect different liver conditions include alanine aminotransferase (ALT), alkaline phosphatase (ALP), aspartate aminotransferase (AST), gamma-glutamyl transferase (GGT), total bilirubin, direct bilirubin, albumin, total protein, and lactate dehydrogenase (LD or LDH). Imaging tests include ultrasound, CT (computed tomography) scan, MRI (magnetic resonance imaging), MRCP (magnetic resonance cholangiopancreatography), PTC (percutaneous transhepatic cholangiogram), and ERCP (endoscopic retrograde cholangiopancreatography).
- Based on end-user, the global market can be categorized into hospitals, diagnostic laboratories, and imaging laboratories
Asia Pacific to be Lucrative Market for Liver Disease Diagnostics
- The global liver disease diagnostics market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Robust expansion of the market in Asia Pacific can be attributed to a rise in the prevalence of liver disease due to an increase in alcohol consumption in developing countries of Asia, which is a major factor boosting the demand for liver disease diagnostics. New product launches in China, India, and Japan and rigorous marketing campaigns adopted by leading players to gain a competitive advantage are anticipated to drive the market in Asia Pacific during the forecast period.
Key Players Operating in Global Liver Disease Diagnostics Market
Leading players in the global liver disease diagnostics market include:
- F. Hoffmann-La Roche Ltd
- Abbott Laboratories
- Boston Scientific Corporation
- Siemens Healthineers
- bioMérieux SA
Global Liver Disease Diagnostics Market: Research Scope
Global Liver Disease Diagnostics Market, by Test Type
- Laboratory Tests
Global Liver Disease Diagnostics Market, by End-user
- Diagnostic Laboratories
- Imaging Laboratories
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.
2. Insights and Tools
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.
3. Actionable Results
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?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.