(I-BusinessNews.Com, May 15, 2021 ) According to research report the Elastography Imaging Market is expected to grow from USD 2.8 billion in 2019 to USD 6.4 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period.
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Elastography is a technique that maps the elastic properties and stiffness of soft tissue by using the imaging modality such as ultrasound and magnetic resonance imaging.
The growth of this 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.
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.
Asia-Pacific is projected to account for the fastest growth in the elastography imaging market during the forecast period.
The Asia Pacific elastography imaging market is estimated to grow at the 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.
Growth in this regional market can be attributed to the increasing healthcare expenditure across the region’s major countries (especially India and China), continuous decrease in device costs (due to growing localized manufacturing and the presence of global market players), growing public awareness about the therapeutic potential of ultrasound technologies and rising prevalence of target diseases.
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The major elastography imaging providers include GE Healthcare (US), Siemens Healthineers (Germany), Shenzhen Mindray Bio-Medical Electronics Co. (China), FUJIFILM Holdings Corporation (Japan), Philips Healthcare (Netherlands), Canon Medical System Corporation (Japan), Samsung Medison (South Korea), Hitachi Ltd. (Japan), Esaote (Italy), SuperSonic Imagine (France), and Resoundant (US).
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