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What key factors are powering the surge in the elastography imaging market right now?
In recent times, the elastography imaging market has witnessed significant growth. The market size, which stood at $3.56 billion in 2024, is projected to reach $3.91 billion in 2025, with a compound annual growth rate (CAGR) of 9.6%. This growth during the preceding years has been driven by factors such as clinical approval and acceptance, the introduction of shear wave elastography, the extension of imaging beyond the liver, and the progression of software and algorithms.
How fast Is the elastography imaging market expected to grow, and what’s its future value?
The market size of elastography imaging is projected to increase exponentially in the coming years, with a projection of hitting “$5.8 billion by 2029 and a compound annual growth rate (CAGR) of 10.4%. This anticipated growth during the forecast period can be credited to factors such as market expansion and growth, global healthcare trends, cost-effectiveness and affordability, and the need for non-invasive diagnostics, and its clinical application and acceptance. The forecast period also predicts trends like clinical advancements, the inclusion of Shear Wave Elastography (swe), real-time imaging, integration of multi-modal imaging, and broadening clinical applications.
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What are the leading drivers of growth in the elastography imaging market?
The elastography imaging market is expected to grow due to the increasing occurrences of chronic liver and breast cancer. These conditions result from uncontrollable growth and multiplication of liver cells, leading to potentially fatal diseases. Elastography, an ultrasound-based technique predominantly used in hepatology, is instrumental in determining liver stiffness amongst individuals with chronic liver disease. The increased incidence of chronic liver and breast cancer, thus, bolsters the expansion of the elastography imaging market. As an example, the ‘Cancer Facts And Figures 2023’ report from the American Cancer Society showed that new cases of liver and intrahepatic bile duct cancer in women reached 13,230 in 2023 in the US. Consequently, the escalating rates of chronic liver and breast cancer are fuelling the growth of the elastography imaging market.
What are the key segments defining the elastography imaging market?
The elastography imaging market covered in this report is segmented –
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
Subsegments:
1) By Ultrasound: Shear Wave Elastography (SWE), Strain Elastography, Acoustic Radiation Force Impulse (ARFI) Imaging
2) By Magnetic Resonance: Magnetic Resonance Elastography (MRE), Diffusion-Weighted Imaging (DWI) With Elastography, Dynamic Contrast-Enhanced Imaging With Elastography
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Who are the key players steering the development of the elastography imaging market?
Major companies operating in the elastography imaging market include 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., 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, Exact Imaging Inc., Echosens, Konica Minolta Healthcare Americas Inc., Arterys Inc., Fovia Medical Inc, QT Ultrasound LLC, Healcerion Co. Ltd., EDAP TMS Inc.
What emerging trends are influencing the growth of the elastography imaging market?
The trend of advanced technological devices used in elastography imaging is gaining traction in the market. Preeminent companies in this market are concentrating on these advanced tools in order to maintain their competitive edge. For example, Mindray Medical International Limited, a China-based leader in medical instrumentation manufacturing, unveiled the Resona I9 Ultrasound Machine in May 2022. The Resona I9, a Shear Wave Elastography (SWE) system, comes with an intelligent iConsole control panel and customizable E-Ink keys, and boasts a battery life of 2 hours. This sophisticated ultrasound machine guarantees a balanced blend of resolution, tissue uniformity and sharp imaging, made possible by Mindray’s innovative ZONE Sonography Technology+ (ZST+). Further, the use of shear-wave elastography in the I9 contributes to a higher frame rate, greater refreshing rates and smoother transitions.
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Which regions are most influential in expanding the elastography imaging market?
Asia-pacific was the largest region in the elastography imaging market in 2024. The regions covered in the elastography imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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