Global Liver Panel Testing Market, By Product (Alanine Aminotransferase Test, Aspartate Aminotransferase Test, Alkaline Phosphatase Test, Gamma Test, Total Bilirubin, Albumin, Lactate Dehydrogenase), Application (Disease Diagnose, Blood Routine Analysis, Disease Prevention, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Rising prevalence of acute and chronic liver diseases is one of the major factors expected to drive the market for liver disease diagnostics. In recent years, according to the WHO, in 2018, 841,080 new cases of liver cancer were reported globally and an estimated 781, 631 people died due to liver cancer.
Data Bridge Market Research analyses that the liver panel testing market is growing at a CAGR of 6.20% during the forecast period. The imaging segment dominated the market and held a revenue share of 29.4% in 2019. This is attributed to the rising number of initiatives taken by key players in the market for liver disease diagnostics to develop advanced imaging techniques.
Market Definition
Liver panel testing can be described as the blood tests used for determining the state of liver processes and filters as it circulates within the body. It performs functions such as metabolization of nutrients, blood clotting proteins with detoxification of harmful substances. The cells in liver contain enzymes which are responsible for carrying out chemical reactions.
Liver Panel Testing Market Dynamics
Drivers
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Increasing research and development of accurate diagnostic systems to improve early diagnosis
Liver damages or infections can only be completely cured if they caught in the beginning and government and private companies are working on techniques to detect to these problems in the beginning of the problem.
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Patient outcomes
Patient outcomes is one of the major factor driving liver panel testing market. Additionally, rising prevalence of acute and chronic liver diseases, introduction of novel methods to diagnose diseases positively affect the liver panel testing market.
Opportunities
Furthermore, rising initiatives undertaken by key players to develop highly sensitive and rapid tests to detect liver diseases in specific populations such as pregnant women and human immunodeficiency virus infection-positive patients extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, a high emphasis on streamlining imaging workflows will further expand the liver panel testing market's growth rate in the future.
Restraints/Challenges
On the other hand, rise in the cost of advanced liver panel testing equipment are expected to obstruct market growth. Also, lack of skilled professionals are projected to challenge the liver panel testing market in the forecast period of 2022-2029.
This liver panel testing 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 panel testing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Liver Panel Testing Market
The market demand for COVID-19 vaccine has increasing, due to increase in the everyday cases across the globe. Thus leading to increase in the demand of rapid diagnostic testing. For instance, according to many research it is found that real time PCR (RT-PCR) is most inexpensive and effective method for the diagnosis of COVID-19 testings. Moreover, molecular techniques are more suitable than syndromic testing and nucleic acid testing is the primary method of diagnosing COVID-19.To do a liver panel testing you need a proper hospital setting and professionals but the most difficult part is if your liver is weak it also makes your immune system weak and you can catch any infection faster than anybody and because of COVID-19 the situation become more dangerous than usual that’s why it a big restraint for the market.
Recent Developments
- In March 2020, F. Hoffmann-La Roche Ltd. was granted Breakthrough Device Designation for Elecsys GALAD score. Elecsys GALAD score was developed under Roche Diagnostics Liver Indication Program to improve diagnostic workflow and support clinicians by providing accurate information.
Global Liver Panel Testing Market Scope
The liver panel testing market is segmented on the basis of product and application. 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 test
- Total bilirubin
- Albumin
- Lactate Dehydrogenase
Based on product, the liver panel testing market is segmented into alanine aminotransferase test, aspartate aminotransferase test, alkaline phosphatase test, gamma test, total bilirubin, albumin and Lactate Dehydrogenase.
Application
- Disease diagnose
- Blood routine analysis
- Disease prevention
- Others
Liver panel testing market has also been segmented based on the application into disease diagnose, blood routine analysis, disease prevention and others.
Liver Panel Testing Market Regional Analysis/Insights
The liver panel testing market is analysed and market size insights and trends are provided by country, product and application as referenced above.
The countries covered in the liver panel testing 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 panel testing market due to the advanced technologies and highly equipped laboratories along with equipped facilities in the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the focus of various established market players to expand their presence in this particular region.
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 panel testing 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 panel testing market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the liver panel testing market. The data is available for historic period 2010-2020.
Competitive Landscape and Liver Panel Testing Market Share Analysis
The liver panel testing 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 panel testing market.
Some of the major players operating in the liver panel testing market are Alpa Laboratories Ltd, ELITechGroup, Biobase, HORIBA, Ltd., Laboratory Corporation of America, Randox Laboratories Ltd, Thermo Fisher Scientific Inc., Abbott and F. Hoffmann-La Roche Ltd bbott, F. Hoffmann-La Roche Ltd, Siemens AG, Beckman Coulter, Inc., BD, Johnson & Johnson Services, Inc., Instrumentation Laboratory, PTS Diagnostics, Abaxis, Medtronic, Accriva Diagnostics, Opti Medical, Sienco, Inc., Alpha Scientific Electronics and AccuBioTech Co., Ltd among others.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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