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Elastography Imaging Market Report 2024 - Elastography Imaging Market Size, Share And Trends
Elastography Imaging Market
According to The Business Research Company's, The elastography imaging market size has grown rapidly in recent years. It will grow from $3.31 billion in 2023 to $3.66 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to clinical validation and acceptance, introduction of shear wave elastography, expansion beyond liver imaging, development of software and algorithms.
The elastography imaging market size is expected to see strong growth in the next few years. It will grow to $5.27 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to market growth and expansion, global healthcare trends, cost-efficiency and affordability, demand for non-invasive diagnostics, clinical adoption and acceptance. Major trends in the forecast period include clinical advancements, integration of shear wave elastography (swe), real-time imaging, multimodal imaging integration, expanding clinical applications.
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Market Drivers and Trends:
The rising incidence of chronic liver and breast cancer is expected to propel the growth of the elastography imaging market going forward. Chronic liver and breast cancer refers to the condition in which, the liver cell grows and multiply out of control, and gives rise to life-threatening illness. Elastography is an ultrasound (US)-based technique that is frequently used in the field of hepatology, for determining the stiffness of the liver in people with chronic liver disease. Hence, the rising incidence of chronic liver and breast cancer will support the growth of the elastography imaging market. For instance, in January 2023, according to the data imparted in the 'Cancer Facts And Figures 2023' report published by the American Cancer Society, a US-based, nationwide voluntary health organization, the number of new cases of liver and intrahepatic bile duct cancer, in female, reached 13,230 in 2023, increased from 12,640 in 2020 in the United States. Therefore, the rising incidence of chronic liver and breast cancer is driving the growth of the elastography imaging market.
Technologically advanced elastography imaging devices are a key trend gaining popularity in the elastography imaging market. Major companies operating in the elastography imaging market are focusing on technologically advanced elastography imaging devices to sustain their position in the market. For instance, in May 2022, Mindray Medical International Limited, a China-based medical instrumentation manufacturing company launched Resona I9 Ultrasound Machine. It is a Shear Wave Elastography (SWE) based system built with an intelligent iConsole control panel, and customizable E-Ink keys integrated with a 2-hour long battery. The Resona I9 has sophisticated ultrasound capabilities that offer a harmonious mix of resolution, tissue homogeneity, and crisp imaging through Mindray's ground-breaking ZONE Sonography Technology+ (ZST+). Increased frame rate, greater refresh rates, and more seamless transitions are possible using shear-wave elastography, in I9.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Canon Medical Systems Corporation; Esaote S.p.A.; GE Healthcare Technologies Inc.; Koninklijke Philips N.V.; Mindray Bio-Medical Electronics Co. Ltd.; Samsung Medison Co. Ltd.; Siemens Healthineers AG; Clarius Mobile Health Corp.; Medtronic plc; Toshiba America Medical Systems Inc.; SuperSonic Imagine; Resoundant Inc.; Shimadzu Corporation; BK Medical Holding Company Inc.; SonoScape Medical Corp.; Philips Healthcare; Hitachi Medical Systems; Fujifilm Holdings Corporation; Analogic Corporation; Hologic Inc.; Exact Imaging Inc.; Echosens; Konica Minolta Healthcare Americas Inc.; Guerbet S.A; Arterys Inc.; Fovia Medical Inc; QT Ultrasound LLC; Healcerion Co. Ltd.; EDAP TMS Inc.; Zeon Medical Inc.
Elastography Imaging Market 2024 Key Insights:
• The elastography imaging market will grow to $5.27 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%.
• Elastography Imaging Market Surges Amidst Growing Incidence Of Chronic Liver And Breast Cancer
• Technologically Advanced Elastography Imaging Devices On The Rise
• Asia-pacific was the largest region in the elastography imaging market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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