According to the business intelligence report titled ‘Global Liver Disease Diagnostics Market Size study, by Diagnosis Technique (Laboratory Tests, Imaging, Endoscopy, Biopsy and Others), by End-Use (Hospitals, Laboratories and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global liver disease diagnostics market was worth USD 29.3 billion in 2019 and is predicted to register 6.5% CAGR over 2020-2027, subsequently reaching a valuation of USD 48.5 billion by the end of the forecast period.
 

As per the report findings, rising incidences of chronic and acute liver diseases coupled with increased risk factor among the growing geriatric population are spurring global liver disease diagnostics market growth.
 

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A study conducted by the World Health Organization (WHO) recorded a total of 841,080 liver cancer cases in the year 2018, among which around 781,631 individuals were reported dead. In addition to the rising burden of liver cancer, rising occurrences of end-stage liver failure to excessive alcohol consumption is accelerating the demand for diagnostics solutions. Further, growing prevalence of metabolic syndrome and obesity are enhancing the industry growth.
 

Speaking of the negatives, high costs of research & development activities of the drugs, risks and side-effects associated with the medications, and stringent government regulations are expected to hamper global liver disease diagnostics industry expansion during the analysis timeframe.
 

From a geographical viewpoint, Latin America (Brazil, Mexico), Europe (United Kingdom, France, Germany, Italy, Spain), North America (United States, Canada), and Asia-Pacific (India, Japan, Australia, China, South Korea) are the top contributors of the overall market value.
 

Among these, North America captures a significant portion of the global liver disease diagnostics market share and is anticipated to amass substantial gains over 2020-2027. High concentration of prominent industry players, rapid adoption of advanced technologies, and increasing R&D investments are fostering the regional market growth.
 

Meanwhile, Asia-Pacific liver disease diagnostics market is touted to register significant growth, exhibiting a robust compound annual growth rate during the stipulated time period.
 

With respect to the competitive landscape, F. Hoffmann-La Roche AG, Abbott Laboratories, Randox Laboratories Ltd., Siemens Healthineers AG, Boston Scientific Corp., BioMérieux SA, Biosino Bio-Technology & Science, Inc., Quest Diagnostics, Inc., and. are the top contenders in worldwide liver disease diagnostics market sphere.