Liver Disease Diagnostics Market Size Worth $48.7 Billion By 2027

Grand View Research, Inc.

SAN FRANCISCO, Aug. 12, 2020 /PRNewswire/ -- The global liver disease diagnostics market size is expected to reach USD 48.7 billion by 2027, expanding at a CAGR of 6.5%, according to a new report by Grand View Research, Inc. increasing funding and research initiatives undertaken by market players is one of the major factors expected to propel market growth. For instance, in November 2019, Glycotest, Inc. received the second USD 3.0 million tranche of USD 10.0 million Series A funding from Shanghai Fosun Pharmaceutical Co., Ltd. (Fosun Pharma). Under this investment, Glycotest, Inc. transferred HCC panel technology to Fosun Pharma to commercialize in China and develop tests for liver cancer and liver fibrosis that are currently under pipeline.

Key suggestions from the report:

• Imaging segment witnessed the largest market share in 2019 owing to increasing initiatives by key players to develop accurate imaging systems
• Based on end-use, the hospitals segments held the largest share in 2019. Factors such as increasing adoption of advanced technologies and favorable reimbursement policies are expected to drive segment growth
• North America dominated the market in 2019 due to increasing alcoholic consumption and rising awareness regarding chronic diseases
• The market in Asia Pacific is projected to witness the fastest growthover the forecast period owing to the high unmet needs and rising regular check-ups for the diagnosis of diseases.

Read 80 page research report with ToC on "Liver Disease Diagnostics Market Size, Share & Trends Analysis Report By Diagnosis Technique (Imaging, Laboratory Tests, Endoscopy, Biopsy, Others), End-use (Hospital, Laboratories, Others), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/liver-disease-diagnostics-market

Companies are focusing on collaborations and partnership to improve the quality of care,which is anticipated to drive the market. For instance, in October 2019, Perspectum Diagnostics entered into a partnership to offer LiverMultiScan at Precious Medical Center in Singapore. The aim of this partnership was to create awareness among people to consider liver checking as an integral part of their health screening.