In a recent published report, Kenneth Research has updated the market report for Non-Alcoholic Steatohepatitis Biomarkers Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Non-Alcoholic Steatohepatitis Biomarkers Market products.
In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Non-Alcoholic Steatohepatitis Biomarkers Market over the period 2019-2024.
The Non-Alcoholic Steatohepatitis Biomarkers Market report also focuses on the analysis on the basis of geography which includes North America (U.S. and Canada), Latin America (Mexico, Brazil, Argentina, Rest of Latin America), Europe (Germany, UK, France, Spain, Italy, NORDIC, BENELUX, Poland, Russia, Hungary, Rest of Europe), Asia Pacific (China, Japan, India, Australia, New Zealand, South Korea, Malaysia, Indonesia, Rest of Asia Pacific) and Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East and Africa).
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In U.S., the GDP per capita was valued at USD 62,606 in 2018 as compared to USD 59,895 marked in 2017, observed a growth of 4.53% in 2018 over previous year. Rise in GDP per capita has intensified the growth of this market in the country.
Market Overview
The Global Non-Alcoholic Steatohepatitis Biomarkers Market is Expected to Register a CAGR of 20.92% and is Anticipated to Reach USD 1,960.4 million by 2024. Non-alcoholic steatohepatitis (NASH) is a type of non-alcoholic fatty liver disease (NAFLD), which is characterized by liver inflammation and damage caused by a buildup of fat in the liver. Currently, there is no single test approved for diagnosing non-alcoholic steatohepatitis.
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The major factors characterizing the growth of the global non-alcoholic steatohepatitis biomarkers market are the increasing prevalence of NASH, growing demand for non-invasive diagnostic tests, and rising initiatives for creating awareness. On the contrary, the presence of stringent regulations by the US FDA for the qualification of biomarkers is anticipated to restrict the market growth during the forecast period.
Market Dynamics
The incidence of NASH is increasing at an alarming rate and thus has led to the growing need for effective diagnostic tools in recent years. According to the data published by the NASH Education Program, the prevalence of NASH is anticipated to rise by 63% between 2015 and 2030. Factors such as the increasing prevalence of diabetes and obesity, growing demand for non-invasive tests, and growing public and private sector initiatives to increase awareness about NASH are expected to fuel the growth of the global market. Despite the drivers, the unfavorable regulatory scenario is likely to affect market growth over the forecast period negatively.
Global Non-Alcoholic Steatohepatitis Biomarkers Market Revenue, by End User, 2018—2024 (USD Mn)
Segmentation
The global non-alcoholic steatohepatitis biomarkers market has been segmented into type and end user. By type, the market has been segmented into serum biomarkers, hepatic fibrosis biomarkers, apoptosis biomarkers, oxidative stress biomarkers, and others. By end user, the market has been segmented into pharmaceutical companies and CROs, research institutes and academics, hospitals & clinics, diagnostic centers, and others. The pharmaceutical companies and CROs segment accounted for a market value of USD 226.7 million in 2018.
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Key Players
The prominent players in the global non-alcoholic steatohepatitis biomarkers market are BioPredictive (France), Celerion (US), Cisbio (France), Echosens (France), Enterome (France), GENFIT (France), Laboratory Corporation of America Holdings (US), NGM Biopharmaceuticals (US), One Way Liver, SL (Spain), Pacific Biomarkers (US), Prometheus Laboratories Inc (US), Perspectrum Diagnostics Ltd (UK), Quest Diagnostics, Regulus Therapeutics, Inc. (US), Siemens Healthineers (Germany), Shenzhen New Industries Biomedical Engineering Co., Ltd (China), and Xeptagen SpA (Italy)
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