Liver Function Tests Market Scope
Liver function tests (LFTs) also referred to as hepatic function tests, which help to determine liver health by measuring and monitoring the level of protein, liver enzymes and bilirubin present in the blood. The tests are used to detect liver disease, and also to prevent the disease beforehand, gauges the limit to what extent the liver is damaged and also monitors the response of the treatment given. The liver function tests can be done as a routine checkup, alcoholism, certain medications someone has been taking for a very long period can be the reasons to get checked.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Alpha Laboratories Ltd. (United Kingdom), ELITechGroup (France), Abbott Laboratories (United States), Horiba Medical Ltd. (France), Laboratory Corporation of America Holdings (United States), Randox Laboratories (United Kingdom), Thermo Fisher Scientific (United States), F. Hoffmann-La Roche AG (Switzerland), Endo Pharmaceuticals Inc. (Ireland) and Novartis Consumer Health Inc. (Switzerland) |
CAGR | 5.8% |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market shortly. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Liver Function Tests market throughout the predicted period.
Alpha Laboratories Ltd. (United Kingdom), ELITechGroup (France), Abbott Laboratories (United States), Horiba Medical Ltd. (France), Laboratory Corporation of America Holdings (United States), Randox Laboratories (United Kingdom), Thermo Fisher Scientific (United States), F. Hoffmann-La Roche AG (Switzerland), Endo Pharmaceuticals Inc. (Ireland) and Novartis Consumer Health Inc. (Switzerland) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Liver Function Tests market by Type , by Application (Disease Diagnose, Blood Routine Analysis, Disease Prevention and Others) and Region with country level break-up.
On the basis of geography, the market of Liver Function Tests has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
"The Food and Drug Administration said that the manufacturers—Endo Pharmaceuticals Inc., and Novartis Consumer Health Inc.—had revised the “hepatic effects” section of the diclofenac topical gel label to include new warnings and precautions about the potential for elevated liver function tests (LFTs) during treatment. The revised label both recommend that clinicians should periodically measure transaminase levels in patients taking diclofenac long-term. While the optimum schedule for checking transaminase levels is unknown, clinical trial data and postmarketing experience indicate that levels should be monitored within 4–8 weeks after initiating treatment, according to the FDA notice."
Influencing Trend:
Liver Disease and its Function Tests are more Prevalent in Pregnant Women and Prevalence of ALT/AST For Diagnosing Liver Related Diseases
Market Growth Drivers:
Increasing Geriatric Population Around the Globe and Rising Consumption of Alcohol is Increasing Liver Function Tests
Challenges:
High Cost Involved in the Liver Function Tests
Restraints:
Difficulties in Determining the Type of Disease and Possible Causes
Opportunities:
Raising Awareness about the Liver Diseases will Boost the Liver Function Tests Market and Technological Advancements in Liver Test Equipments and Diagnosis
Key Target Audience
Liver Function Tests Providers, Liver Function Tests Equipment Manufacturers, Research and Development Institutes, National Laboratories, Regulatory Bodies, Hospitals, Potential Investors and Others