Technological advancements in imaging systems is driving the market for Liver treatment over the forecast period
According to a new market research study titled ‘Liver treatment Market to 2025 – Global Analysis and Forecasts by disease and imaging modality, the global liver treatment market is expected to reach US$ 4,883.5 Mn in 2025 from US$ 3,426.8 in 2017. The market is estimated to grow with a CAGR of 4.6% from 2018-2025. The report highlights the trends prevalent in the global liver treatment market and the factors driving the market along with those that act as deterrents to its growth.
Global liver treatment market, based on the diseases, is segmented into cancer, hepatitis, cirrhosis, and other diseases. In 2017, cancer held the largest market share. There has been a significant increase in the number of liver cancer cases due to hepatitis infections, smoking, over consumption of alcohol, and obesity. Cancer is also expected to be the fastest growing segment and is likely to grow at the highest growth rate during the forecast period. This attributes to the rapidly increasing number of patients suffering with the disease that requires appropriate diagnosis and treatment options.
Key factors such as increasing prevalence of liver diseases, rising geriatric population suffering from liver diseases and various technological advancements in imaging techniques are key drivers for the growth of the market. However, factors such as stringent regulatory framework and high cost of imaging techniques for liver treatment are likely to restrain the market growth to a certain extent. One the other hand, partnerships and collaborations among industry players and increasing expenditures among emerging markets are expected to provide significant opportunities to the players in the liver treatment market.
Key market players operating in the market of liver treatment across the globe includes General Electric, Koninklijke Philips N.V., Siemens AG, CANON MEDICAL SYSTEMS CORPORATION, Hitachi, Ltd, Elekta AB (pub), Neusoft Corporation, Samsung Healthcare, BPL Medical Technologies, and Cura Healthcare. The manufacturing companies are launching innovative products in the market to retain their significance in the highly competitive global scenario. For instance, in November 2017, Canon Medical Systems introduced the new package for its iSeries scanners. The series will include Aplio i700, i800, and i900 which will be assessing the liver in the patients suffering from fatty liver diseases. The developments performed by the companies are helping the market to grow in the coming years.
The report segments the global liver treatment market as follows:
Global Liver treatment Market – By Disease
Global Liver treatment Market – By Imaging Modality
Magnetic Resonance Imaging
Global Liver treatment Market – By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South & Central America (SCAM)
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