Market Analysis
The global elastography imaging market is estimated to grow at an 11.1% CAGR between 2019-2025, reveals the new Market Research Future (MRFR) report. Elastography, simply put, is a medical imaging mode that maps the stiffness & elastic properties of soft tissue. Owing to its magnificent features, elastography imaging has wide applications in orthopedic and musculoskeletal applications, vascular, urology, obstetrics/gynecology, cardiology, radiology/general imaging, and others.
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Numerous factors are adding to the global elastography imaging market growth. Such factors, according to the recent MRFR report, include the growing demand for effective therapies for treating complicated disorders, changes in regulatory policies, increasing incidence of life-threatening diseases, and burgeoning demand for procedures that are minimally invasive to diagnose as well as treat various chronic diseases.
On the contrary, the high price of systems may limit the global elastography imaging market growth over the forecast period.
Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global elastography imaging market based on end user, application, and modality.
By modality, the elastography imaging market is segmented into magnetic resonance elastography (MRI) and ultrasound. Of these, the ultrasound segment will lead the market over the forecast period for the plentiful benefits that it offers. Meanwhile, magnetic resonance elastography will grow at the fastest pace for its increasing adoption rate and wider availability.
By application, the elastography imaging market is segmented into orthopedic and musculoskeletal applications, vascular, urology, obstetrics/gynecology, cardiology, radiology/general imaging, and others. Of these, radiology/general imaging will dominate the market over the forecast period for the rising prevalence of chronic diseases worldwide. Meanwhile, the cardiology segment will grow at the fastest pace over the forecast period for the increase in the patient population.
By end user, the elastography imaging market is segmented into research laboratories, diagnostic centers, hospitals and ambulatory surgical centers, and others. Of these, hospitals and ambulatory surgical centers will have a major share in the market over the forecast period. Rising number of hospitals coupled with the increasing number of hospitalizations are adding market growth. Meanwhile, the diagnostic centers will grow at the fastest pace over the forecast period for inclination towards these centers and increased patient preference.
Regional Analysis
By region, the global elastography imaging market report covers the growth opportunities and recent trends across Europe, the Americas, the Middle East & Africa (MEA), and the Asia Pacific (APAC). Of these, the Americas will have the lions share in the market over the forecast period. Factors adding to the global elastography imaging market growth in the region include the increasing use of new technology, rising per capita healthcare expenditure, and increasing expenditure by healthcare bodies in research. Canada and the United States are the key contributors in the region for improving reimbursement scenario and a rise in insurance coverage.
The global elastography imaging market in Europe is predicted to hold the second-largest share over the forecast period for the involvement of top companies, rise in chronic diseases, and the presence of an established healthcare system.
The global elastography imaging market in the APAC region will have steady growth over the forecast period for the favorable initiatives undertaken by the government for healthcare reforms and the rising prevalence of chronic diseases. Meanwhile, a fall in capital investment may hinder the market growth.
The global elastography imaging market in the MEA will have a small share during the forecast period for the region’s low disposable income and limited access to medical treatment facilities.
Key Players
Leading players profiled in the global elastography imaging market report include General Electric Company, Supersonic Imagine, Samsung Electronics (Samsung Medison), Koninklijke Philips N.V., Mindray Medical International Ltd., Resoundant Inc., Hitachi Ltd., Esaote, Fujifilm Holdings Corporation, Siemens AG, and Canon Medical Systems Corporation.
Industry News
November 2019: SimonMed Imaging is the first to provide advanced screening for fatty liver disease. The VIDA 3T MRI helps to detect fibrosis resulting from fatty liver disease or other chronic liver diseases. It uses MRE (magnetic resonance elastography) that combines sound waves with MRI to develop an elastogram (visual map) to show the stiffness of the body tissue, thus offering radiologists with color contrasted clear visual, maximizing accuracy, and limiting error.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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