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

  • In Vitro Diagnostics
  • Upcoming Report
  • Oct 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

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

Market Size in USD Billion

CAGR - % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 33.40 Billion
Diagram Market Size (Forecast Year) USD 57.39 Billion
Diagram CAGR %

Global Liver Function Test Market, By Product (Alanine Aminotransferase Test, Aspartate Aminotransferase Test, Alkaline Phosphatase Test, Gamma GT Test, Albumin, Total Bilirubin and Others), End-Use (Disease Diagnose, Blood Routine Analysis, Disease Prevention and Others), Components (Hepatocellular Labs, Cholestasis Labs and Synthetic Function Tests) – 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

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Product (Alanine Aminotransferase Test, Aspartate Aminotransferase Test, Alkaline Phosphatase Test, Gamma GT Test, Albumin, Total Bilirubin and Others), End-Use (Disease Diagnose, Blood Routine Analysis, Disease Prevention and Others), Components (Hepatocellular Labs, Cholestasis Labs and Synthetic Function Tests)

Countries Covered

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.

Market Players Covered

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.)

Market Opportunities

  • Rising awareness towards the liver health
  • Growing geriatric population

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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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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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The liver function test market value was USD 33.4 billion in 2021.
The liver function test market is projected to grow at a CAGR of 7.00% during the forecast period of 2022-2029.
The major players of the 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.)
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.
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