(I-BusinessNews.Com, April 27, 2020 ) The growth of the global elastography imaging market is mainly driven by the growing incidence of breast cancer and chronic liver diseases, and a rising preference for minimally invasive procedures across the globe. Emerging economies will provide new growth opportunities for players in the elastography imaging market.
According to research report the elastography imaging market is expected to reach USD 6.4 billion by 2027, at aCAGR of 11.0% during the forecast period.
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The ultrasound elastography imaging segment is expected to account largest share in the global elastography imaging market.
On the basis of modality, the elastography imaging market is segmented into ultrasound and magnetic resonance. Ultrasound imaging involves the imaging of organs by exposing the anatomy to high-frequency sound waves. Elasticity imaging or elastography through ultrasound elastography (USE) provides complementary information to conventional ultrasound by adding stiffness as another measurable property to current ultrasound imaging techniques.
The hospitals, surgical & diagnostic centers segment, by end user, is projected to occupy the majority of the market share and grow at the fastest rate during the forecast period.
Based on end user, the global elastography imaging market is segmented into hospitals, surgical & diagnostic centers; ambulatory surgical centers; and other end users. The large share of this segment can be attributed to the significant number of ultrasound and MRI-based elastography medical procedures performed in hospitals, growing trend of workflow automation among healthcare providers, and rising adoption of minimally invasive diagnostic & surgical procedures in these facilities.
The major elastography imaging vendors include GE Healthcare (US), Siemens Healthineers (Germany), Philips Healthcare (Netherlands), Canon Medical System Corporation (Japan), Samsung Medison (South Korea), Hitachi Ltd. (Japan), Shenzhen Mindray Bio-Medical Electronics Co. (China), FUJIFILM Holdings Corporation (Japan), Esaote (Italy), SuperSonic Imagine (France), and Resoundant (US).These players have adopted various growth strategies from 2016 to 2018, such as product launch, collaboration, partnership, acquisitions and expansions to expand their presence in the global elastography imaging market. This has helped them to innovate their offerings and broaden their customer base.
GE Healthcare is one of the leading companies in the elastography imaging systems. The company focuses on maintaining its leading position in the elastography imaging market through pipeline development and product commercialization. It has a strong presence and wide industry coverage in North America, South America, Europe, Australia, and Asia. The company has a reliable customer- services support set up, which helps in strengthening its customer relationships and growing its geographical presence. The company is expected to grow at a positive rate in the market due to its superior product offerings.
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Asia-Pacific is estimated to grow at a highest CAGR during the forecast period. The Asia Pacific elastography imaging market, particularly comprises Asian countries (such as India, China, South Korea, Japan, and Indonesia, among others) and Pacific countries (such as Australia, New Zealand, and Fiji, among others). Emerging Asia Pacific countries, such as India, China, Japan, South Korea, and Indonesia, are witnessing increasing per capita healthcare expenditure and rapid expansion and the modernization of their respective healthcare infrastructure.
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