Elastography Imaging Market Overview
The global elastography imaging market is expected to exhibit a strong 11.1% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The global elastography imaging market was valued at USD 2.5 billion in 2018.
Elastography imaging is a diagnostic imaging technique that maps the elastic properties and stiffness of soft tissue. The soft tissue being soft or hard is used to determine the presence of diseases in the tissue. For instance, areas afflicted by cancerous tumors are often harder than their surrounding areas. Diseased livers are also stiffer than healthy livers, making elastography imaging an effective and informative diagnostic method. Elastography imaging is a noninvasive procedure that uses ultrasound or MRI techniques to make “stiffness maps” of soft tissues.
This has been a major driver for the global elastography imaging market, as the demand for noninvasive diagnostic procedures has grown rapidly over the last few years. Growing awareness about noninvasive procedures among patients as well as doctors is likely to be a major driver for the global elastography imaging market over the forecast period. Elastography imaging is also used to diagnose various chronic diseases whose prevalence is increasing around the world, such as cancer and liver cirrhosis. This is likely to be a major driver for the global elastography imaging market over the forecast period.
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In addition, elastography imaging doesn’t require high amounts of training to operate the equipment. This has made it highly popular among medical establishments, as anyone with a basic level of training can operate the equipment. This has particularly been a major driver for the elastography imaging market in developing regions, where highly trained medical personnel are hard to find and thus the demand for easy-to-use medical procedures is increasing. On the other hand, elastography imaging equipment is highly expensive, making it harder to acquire in developing regions. This is likely to remain a key restraint on the global elastography imaging market over the forecast period.
Elastography Imaging Market Competitive Landscape:
Leading players in the global elastography imaging market include Canon Medical Systems Corporation, Esaote, Fujifilm Holdings Corporation, General Electric Company, Hitachi Ltd., Koninklijke Philips NV, Mindray Medical International Ltd., Resoundant Inc., Samsung Electronics (Samsung Medison), Siemens AG, and Supersonic Imagine.
Major players are engaged in product development in the global elastography imaging market. For instance, in February 2019, Esaote launched MyLabX8, a new ultrasound platform for hospitals and clinics.
Canon Medical Systems Corporation introduced an expansion to its premium ultrasound platform in the form of contrast vector imaging, which provides additional information on liver hemodynamics and expands the use of contrast-enhanced ultrasound.
Elastography Imaging Market Segmentation:
The global elastography imaging market is segmented on the basis of modality, application, end user, and region.
By modality, the global elastography imaging market is segmented into ultrasound and magnetic resonance elastography imaging. Ultrasound holds a larger share in the global elastography imaging market, but magnetic resonance elastography imaging is likely to grow at a higher rate over the forecast period due to its widespread availability of rising adoption.
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By application, the global elastography imaging market is segmented into radiology/general imaging, cardiology, OB/GYN, urology, vascular, orthopedic and musculoskeletal applications, and others. The radiology/general imaging segment holds the largest share in the global elastography imaging market due to the widespread use of elastography imaging for general imaging. The increasing prevalence of chronic diseases is likely to be a major driver for the general imaging segment, as radiological imaging is widely used to diagnose chronic diseases. The cardiology segment is expected to exhibit the highest growth rate over the forecast period due to the increasing patient population.
By end user, the global elastography imaging market is segmented into hospital and ambulatory surgical centers, diagnostic centers, research laboratories, and others. The hospitals and ambulatory surgical centers segment dominates the global elastography imaging market.
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Medical Ventilator Market size, asserts that the market is projected to grow at a CAGR of 7.9% by 2023.
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