Elastography Imaging Market Overview 2024: Size, Growth Drivers, and Major Segments
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What is the Expected Growth Rate of the Elastography Imaging Market for the Period 2024 to 2033?
The market size of elastography imaging has seen a fast-paced expansion over the past couple of years. It is projected to rise from a valuation of $3.31 billion in 2023 to $3.66 billion in 2024, with a compound annual growth rate (CAGR) of 10.7%. The significant growth during the historical period is a result of factors such as clinical validation and acceptance, the advent of shear wave elastography, widening applications beyond liver imaging, and the birth of innovative software and algorithms.
The market size of elastography imaging is anticipated to witness robust expansion in the coming years, reaching $5.27 billion in 2028 with an impressive compound annual growth rate (CAGR) of 9.5%. Several factors such as market development and enlargement, global health care patterns, cost-effectiveness, affordability, the need for non-invasive diagnostic devices, and clinical acceptance are driving this growth during the forecast period. Key trends expected to emerge in this period entail clinical advancements, incorporation of shear wave elastography (swe), real-time imaging, multimodal imaging integration, and broadening clinical applications.
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What Factors Are Responsible for the Growth of the elastography imaging Market?
The escalation in cases of chronic liver and breast cancer is projected to act as a catalyst for the expansion of the elastography imaging market in the future. This refers to a health condition in which there is uninhibited growth and multiplication of liver cells, leading to a fatal disease. Elastography, a technique based on ultrasound, is a common tool in hepatology for assessing liver stiffness especially in individuals suffering from chronic liver conditions. Consequently, the surge in cases of chronic liver and breast cancer bolsters the growth of the elastography imaging market. For example, in January 2023, ‘Cancer Facts And Figures 2023’, a report by the American Cancer Society, a voluntary health organization in the US, showed that the number of new cases involving liver and intrahepatic bile duct cancer in females rose to 13,230 in 2023 from 12,640 in 2020 in the United States. Thereby, the heightened occurrence of chronic liver and breast cancer is propelling the growth of the elastography imaging market.
Which Segments Are Important for Insight into the Elastography Imaging Market?
1) By Modality: Ultrasound, Magnetic Resonance
2) By Application: Radiology, Cardiology, Obstetrics, Urology, Vascular, Orthopedic and Musculoskeletal, Other Applications
3) By End Use: Hospitals, Ambulatory Surgery Centers, Other End Uses
What Are the Significant Trends Reshaping the Elastography Imaging Sector?
The rise in popularity of technologically advanced elastography imaging devices is a significant trend observed in the elastography imaging market. To stay competitive in this space, top players in the industry are prioritizing the development of state-of-the-art elastography imaging devices. An excellent example of this came in May 2022, when China’s Mindray Medical International Limited, a reputed manufacturer of medical instruments, revealed its latest product – the Resona I9 Ultrasound Machine. Constructed with a smart iConsole control panel, customizable E-Ink keys, and a 2-hour battery life, the Resona I9 stands out for its utilization of Shear Wave Elastography (SWE). With these advanced features, the I9 enables enhanced resolution, consistent tissue imaging, and high-quality imaging, all of which are underpinned by Mindray’s innovative ZONE Sonography Technology+ (ZST+). The effective use of shear-wave elastography in the I9 results in a higher frame rate, improved refresh rates, and smoother transitions.
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Which Regions Are Essential for the Growth of the Elastography Imaging Market?
Asia-pacific was the largest region in the elastography imaging market in 2023. The regions covered in the elastography imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Elastography Imaging Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the elastography imaging market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Elastography Imaging Market Include
1. Elastography Imaging Market Executive Summary
2. Elastography Imaging Market Segments
3. Elastography Imaging Market Size And Template Market Growth Rate
4. Key Elastography Imaging Market Trends
5. Major Elastography Imaging Market Drivers
……
25. Key Mergers And Acquisitions In The Elastography Imaging Market
26. Top Elastography Imaging Companies
27. Elastography Imaging Market Opportunities And Strategies
28. Elastography Imaging Market, Conclusions And Recommendations
29. Appendix
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