Some of the leading players operating in the global Non-Alcoholic Steatohepatitis (NASH) Biomarkers Market are One Way Liver S.L., Siemens Healthineers, Genfit, and SNIBE Diagnostics, observes Transparency Market Research. The majority of the players in the market are focusing on conducting clinical trials to introduce improved biomarkers that deliver accurate results. Companies are also expected to expand their distribution channels through strategic collaborations in the coming years.
According to the research report, the global NASH biomarkers market is expected to reach a valuation of US$1.7 bn by the end of 2024 as compared to US$201.2 mn in 2016. Between the forecast period of 2016 and 2024, the global market is projected to expand at a CAGR of 31.7%.
Lack of Accuracy of Individual Biomarkers Restrains Market Growth
The limitations pertaining to the accuracy and sensitivity in determining the results in the key challenge for the players operating in the global NASH biomarkers market. Thus, the questionable accuracy of individual biomarkers and their panels is anticipated to restrain the growth of the overall market. Furthermore, the global NASH biomarkers market is also challenged by the overlapping results for other metabolic disorders. Since these biomarkers deliver overlapping results for metabolic diseases such as glycogenic hepatopathy, diabetic hepatosclerosis, and Wilson diseases the reliability of the biomarkers remains under question.
Europe to Lead Global Market with a CAGR of 30.80% 2016-2024
On the basis of type, the global market is segmented into serum biomarkers, hepatic fibrosis biomarkers, apoptosis biomarkers, oxidative stress biomarkers, and others. Out of these, the hepatic fibrosis biomarkers segment is expected to progress at a phenomenal CAGR of 32.7% between 2016 and 2024. The growth of this segment will be attributable to the high accuracy and efficacy provided by these biomarkers.
In terms of geography, the overall market is fragmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. The report predicts that North America is likely to hold a significant share in the overall market in the coming years due to the emergence of NASH health care sector. However, Europe is expected to dominate the global market as it is estimated to progress at a CAGR of 30.80% between 2016 and 2024.
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Preference for Non-invasive Procedures Contributes to Soaring NASH Biomarkers Market Revenue
The rising prevalence of non-alcoholic liver diseases has been the primary growth driver for the NASH biomarkers market. The growing number type 2 diabetics are estimated to boost the overall market as this pool is population is prone to NAFLAD along with other liver diseases. The market is also anticipated to be driven by the changing lifestyles that are characterized by smoking, poor eating habits, and lack of exercise. The smothering rise in air pollution is also expected to drive the global NASH biomarkers market in the coming years.
The growing demand for non-invasive diagnostic techniques to determine the complication and stage of the liver diseases have also augmented the demand for NASH biomarkers. Due to the ability of reproduce the results, these biomarkers have become the preferred choice for diagnosing and monitoring NASH. The market is also slated to find an adequate drive in treating the unmet medical needs of NASH as the liver-related diseases are on the rise. Demand for low-cost diagnostic techniques as compared to liver biopsy, which requires hospital stay and anesthesia are also likely to encourage the growth of the global market.
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