Global Liver Function Test Market – Industry Trends and Forecast to 2029

 Liver Function Test Market Analysis and Size

The liver plays an important role in metabolism, red blood cell (RBC) regulation, and glucose synthesis and storage. Elevations in alanine aminotransferase and aspartate aminotransferase in relation to alkaline phosphatase and bilirubin indicate hepatocellular disease. In contrast, an increase in alkaline phosphatase and bilirubin in relation to ALT and AST would indicate a cholestatic pattern. The cells in the liver contain enzymes that are responsible for carrying out the chemical reactions. When liver cells are damaged or get destroyed the enzymes in the cells leak out into the blood, where they can be analyzed by performing liver function tests.

Data Bridge Market Research analyses that the liver function test market which was USD 33.4 billion in 2021, is expected to reach USD 57.39 billion by 2029, at a CAGR of 7.00% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Liver Function Test Market Scope and Segmentation

Market Definition

Liver function tests can aid in determining the area of the liver where damage is occurring and, depending on the pattern of elevation, can aid in organising a differential diagnosis. Liver function tests (LFT) are blood tests that are used to assess the state of liver and biliary system. The liver processes and filters the blood as it circulates through the body. It performs many vital functions that include preparing blood clotting proteins, metabolization of nutrients, and detoxification of harmful substances.

Global Liver Function Test Market Dynamics

Drivers

• Rising awareness towards the liver health

Liver function tests are one of the most commonly requested screening blood tests. Whether used to monitor disease progression, examine suspected liver disease, or perform routine blood tests, these tests provide a wealth of information on a wide range of infection processes. Liver function tests also assist social insurance specialists in recognising various types of liver disease, determining the proximity of liver malady, assessing the extent of known liver harm, and following the response to treatment. This is the primary factor expected to drive the growth of global liver function tests.

• Growing incidences of liver diseases

Liver diseases are a huge issue for medical professionals, and the demonstrative strategies in hepatology are a significant field for research and development. The inability to detect the disease at the outset is a significant test associated with chronic liver disease. Liver diseases affect a large number of people, according to WHO estimates, approximately 350 million people are constantly affected by hepatitis B. The rising prevalence of hepatitis B and other liver diseases is expected to expand the market for liver function tests.

Opportunities

• Rising geriatric population

It is important that geriatricians recognize that the prevalence of liver disease is increasing in older age groups, including rarer liver diseases. Awareness of vague symptoms and signs which could indicate liver abnormalities and interpretation of investigations such as LFTs is vital. Furthermore, liver tests aid in the assessment of two fundamental liver compounds in the blood, namely alanine aminotransferase and aspartate aminotransferase, as this is a major factor in market growth. The market's two growth factors are an increase in the use of advanced technologies and an increase in alcohol consumption. In the forecast period of 2022-2029, growth in the geriatric population will create new opportunities for the liver function test market.

Restraints/Challenges

• High cost of liver function tests

High cost of tests will obstruct the market's growth rate. Problems with the liver can make a person very sick and can even be life threatening. Approximately 4.5 million Trusted Source adults in the United States have chronic liver disease. The needle site is prone to pain and bleeding; certain medical complications may make it contraindicated or there is a chance that the sampled location does not represent the entire organ.

This liver function test market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the liver function test market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Liver Function Test Market Scope

The liver function test market is segmented on the basis of product, end-use and components. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Alanine Aminotransferase Test
• Aspartate Aminotransferase Test
• Alkaline Phosphatase Test
• Gamma GT Test
• Albumin
• Total Bilirubin
• Others

 End-Use

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

Components

• Hepatocellular Labs
• Cholestasis Labs
• Synthetic Function Tests

Liver Function Test Market Regional Analysis/Insights

The liver function test market is analysed and market size insights and trends are provided by country, product, end-use and components as referenced above.

The countries covered in the liver function test market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the liver function test market due to technology enhancements in diagnostics devices, the presence of highly equipped laboratories and facilities available are insurance and medical reimbursement.  

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 owing to increasing disposable income and improving economic conditions especially in developing countries such as India and China which are major contributors towards Asia Pacific regional market share.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The liver function test market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for liver function test market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the liver function test market. The data is available for historic period 2010-2020.

Competitive Landscape and Liver Function Test Market Share Analysis

The liver function test market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to liver function test market.

Some of the major players operating in the liver function test market are:

• F.Hoffmann-La Roche Ltd (Switzerland)
• Alpha Laboratories Ltd (India)
• Abbott (U.S.)
• Biobase Biodusty(Shandong), Co., Ltd. (China)
• Thermo Fisher Scientific Inc (U.S.)
• ELITechGroup (France)
• Randox Laboratories Ltd (U.K.)
• HORIBA Ltd (Japan)
• Laboratory Corporation of America Holdings (U.S.)
• SCHENCK USA.CORP (U.S.)
• Battery Test Equipment Co, Ltd (U.S.)
• Test Connection, INC (U.S.)
• Test Poduct, Inc (U.S.)
• Test Spectrum, Inc (U.S.)

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