Liver Biopsy Market by 2023: Growth Opportunities, Top Key Players, Industry Outlook
Research Reports
Jan 05, 2021
Increase in the prevalence of diabetes and obesity among the global population has also contributed to the market growths in diabetes and obesity expose patients to higher risks of acquiring liver diseases which induce demand for liver biopsy. The emergence of biomarkers, improvement in liver biopsy technologies, and the rise in number of FDA approvals for new biopsy devices are other driving factors. Conversely, the high cost of diagnostic devices is expected to hamper the growth of the global liver biopsy market over the forecast period. Side effects and complications post liver biopsy is also a major impediment to the market growth.
The global liver biopsy market is touted to grow at a CAGR of 4.2% over the forecast period of 2017-2023, asserts Market Research Future (MRFR) in a minutely analyzed research report. Increase in the occurrence of liver disorders has been the main driving force behind the growth of the market. Liver infection is widespread these days which raises the demand for diagnosis and is well complemented by growing awareness towards early diagnosis of liver diseases. Advancements in medical technology have presented new approaches to performing liver biopsy which is less invasive or non-invasive which spurs the growth of the global liver biopsy market.
Segmentation
The global liver biopsy market has been segmented based on type, indication, and end user. By type, the market has been segmented into percutaneous, transjugular, and laparoscopic biopsy. By indication, the market has been segmented into nonalcoholic fatty liver disease, chronic hepatitis B or C, autoimmune hepatitis, alcoholic liver disease, and others. By end user, the market has been segmented into hospitals & clinics, tertiary care centers, urology centers, and others.
Competitive Landscape
The prominent players operating in the global liver biopsy market include Medtronic, Veran medical, Dickinson, and Company, Intact Medical Corp., Argon Medical Devices, Inc., INRAD Inc., RI.MOS., C. R. Bard, Inc., Hologic, Inc., Mauna Kea Technologies, Cook Medical, Leica Biosystems, Becton, Fujifilm Medical Systems, MDxHealth, Boston Scientific Corporation, Sterylab, and others.
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Regional Analysis
The global liver biopsy market spans across the regions of the Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas liver biopsy market is expected to substantial growth over the forecast period. In the Americas, liver disease is one of the significant causes of mortality and morbidity which fuels the growth of the market. In addition, high healthcare spending and government support for research & development boost the market growth in the Americas. Germany, U.K., and France are the major markets for liver biopsy in Europe. High prevalence of chronic liver diseases which induces demand for diagnostic services, availability of funds for R&D activities and the emergence of new market players in the region can be attributed for the growth of the Europe market for liver biopsy.
Asia Pacific market is expected to expand at a relatively faster rate than others owing to the rapidly developing healthcare sector in the fast-developing countries such as India, Japan, and China coupled with high prevalence of liver disorders in the region. Also, increasing healthcare expenditure and government support for research supports market expansion. Furthermore, towering demand for advanced quality diagnosis devices is expected to speed up the growth of the market. The Middle East & Africa market holds the least share of the global market. The Africa region is expected to exhibit limited growth due to limited availability of medical facilities while the United Arab Emirates, Saudi Arabia, and Kuwait are estimated to drive the Middle East market.
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Industry Updates
- September 2018- A new liver biopsy tool has been developed by a company in Rochester called Resoundant Inc., and will provide less invasive procedure than traditional liver biopsy. The technology behind the device has been invented by experts at the Mayo Clinic.
- Researchers from the Cleveland Clinic and the Texas Liver Institute, in San Antonio, have developed a new tool that can be useful in prediction of advanced liver fibrosis in people with diabetes. The new device offers liver biopsy through non-invasive methods.
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