(I-BusinessNews.Com, July 22, 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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The major driving factors in the elastography imaging market are growing incidence of breast cancer and chronic liver diseases, and a rising preference for minimally invasive procedures across the globe.
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-users, the elastography imaging market is segmented into hospitals, surgical centers, & diagnostic centers; ambulatory surgical centers; and other end users. Among these end-user segments, hospitals, surgical centers, & diagnostic centers accounted for the largest share of the elastography imaging market in 2018.
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. Growth in this regional market can be attributed to the increasing healthcare expenditure across the region’s major countries (especially India and China), growing public awareness about the therapeutic potential of ultrasound technologies, a continuous decrease in device costs (due to increasing localized manufacturing and the presence of global market players), and rising prevalence of target diseases.
Growth in this regional market can be attributed to the increasing healthcare expenditure across the region’s major countries (especially India and China), growing public awareness about the therapeutic potential of ultrasound technologies, continuous decrease in device costs (due to growing localized manufacturing and the presence of global market players), and rising prevalence of target diseases.
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The major elastography imaging providers 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).
Recent Developments
> In 2018, Philips entered into a 5-year strategic partnership with Erasmus University Medical Center. As per this partnership, Philips will assist in the management, procurement, maintenance, and optimization of ultrasound systems to the Erasmus Medical Center for the next five years.
> In 2018, Siemens AG opened its new corporate headquarters for management of the board and central functions of the firm, including human resources, finance, and communications, and marketing.
> In 2018, Samsung showcased its ultrasound systems at EUROSON (the 30th EUROSON Congress of the EFSUMB), Poland, to address evolving healthcare demands.
> In 2018, Canon Middle East (CME) expanded its regional presence by establishing direct operations in the Kingdom of Saudi Arabia.
> In 2018, GE Healthcare expanded collaboration with SonoSim to offer ultrasound training to primary care and point of care users. With this partnership, both companies are focused on enhancing education services for ultrasound users in different areas include women’s health, cardiology, point of care, and primary care.
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