Albany, NY, July 31, 2018 (GLOBE NEWSWIRE) -- According to the market research study by Transparency Market Research, in 2016, the global market for NASH biomarkers was worth US$201.2 mn and is projected to reach a value of US$1.7 bn by the end of 2024. The market is estimated to register a whopping 31.70% CAGR between 2016 and 2024.
Presence of Leading Players to Drive Europe NASH Biomarkers Market
The global market for NASH biomarkers has been categorized on the basis of geography into Latin America, North America, the Middle East and Africa, Europe, and Asia Pacific. Among these, Europe is anticipated to lead the global market and account for a large share of the market throughout the forecast period. The high growth of this region can be attributed to the presence of the leading players. In addition to this, the increasing pool of patients who are suffering from NAFLD and NASH are some of the other factors that are predicted to enhance the growth of the Europe market in the coming few years. Furthermore, Asia Pacific is likely to register a strong growth rate in the next few years.
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In terms of product type, the global NASH biomarkers market has been categorized apoptosis biomarkers, hepatic fibrosis biomarkers, into serum biomarkers, and oxidative stress biomarkers. Among these, hepatic biomarkers and serum biomarkers are used extensively in the medical field, further encouraging the growth of the overall market in the near future. The ability to provide efficient results is one of the major factors, which is estimated to encourage the growth of the serum biomarkers market in the next few years.
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Rising Type 2 Diabetes to Support Growth of Global NASH Biomarkers Market
The increasing prevalence of non-alcoholic liver diseases is considered as one of the major factors anticipated to accelerate the growth of the global NASH biomarkers market in the next few years. The rising number of patients with type 2 diabetes is another key factor that is likely to accelerate the growth of the global market in the next few years. Furthermore, the rising focus on the research and development activities and innovations and advancements are predicted to create potential growth opportunities for the market players in the next few years. In addition to this, the rapid development of the healthcare sector is another key factor that is predicted to enhance the growth of the overall market in the coming years.
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The global market for non-alcoholic steatohepatitis (NASH) biomarkers is competitive in nature and is projected to witness a significant rise in the level of competition in the next few years, states a new market intelligence study by Transparency Marekt Research. Some of the leading players operating in the global NASH biomarkers market across the globe are Siemens Healthineers, One Way Liver S.L., Genfit, and SNIBE Diagnostics. The leading players in the market are focusing on the development of new products, which is estimates to create potential growth opportunities throughout the forecast period. In addition to this, the enhancement of the distribution channels and the rising number of clinical trials are some of the other factors that are estimated to encourage the growth of the overall market in the next few years. Furthermore, the increasing number of strategic collaborations and mergers and acquisitions are anticipated to enhance to toughen the competitive environment of the market in the next few years.
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Key Takeaways:
- Europe and North America to witness strong growth in the next few years owing to the rapid development of the healthcare segment.
- Rising focus on the development of new products to accelerate the growth of the global NASH biomarkers market in the near future.
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This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Non-alcoholic Steatohepatitis (NASH) Biomarkers Market (Marker Type – Serum Biomarkers, Hepatic Fibrosis Biomarkers, Apoptosis Biomarkers, and Oxidative Stress Biomarkers; End User – Contract Research Organizations (CRO) and Pharmaceutical Industry, Academic Research Institute, Hospitals, and Diagnostic Laboratories) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
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