Elastography Imaging Market Witness Growth Of $3.5 Billion By 2026: Grand View Research, Inc.

Elastography Imaging Market Witness Growth Of $3.5 Billion By 2026: Grand View Research, Inc.

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According to report published by Grand View Research, Increasing incidence of breast cancer and chronic liver disorders is expected to significantly drive the elastography imaging market.

According to a report,”Elastography Imaging Market Size, Share & Trends Analysis Report By End Use (ASCs, Hospitals), By Application (Radiology, Cardiology), By Modality (Magnetic Resonance, Ultrasound), And Segment Forecasts, 2019 – 2026″, published by Grand View Research, Inc., The global elastography imaging market size is expected to reach USD 3.5 billion by the end of 2026, registering a 7.8% CAGR over the forecast period. Increasing incidence of breast cancer and chronic liver disorders is expected to significantly drive the market. Additionally, increasing demand for minimally-invasive procedures and ongoing studies to assess the potential applications of elastography are factors expected to contribute toward rapid growth.

Currently elastography has wide applications in assessing breasts, thyroid, prostate, and liver. Increasing number of ongoing studies are expected to increase its applications in diagnosis of various conditions such neurodegenerative disorders and chronic kidney diseases. It has shown promising results for its use in assessment of kidney health during and after transplantation.

North America dominated the market in 2018 and is expected to continue its dominance during the forecast period. The elastography imaging market growth observed in the region is due to the presence of a large number of global players, along with high adoption rate for advanced imaging techniques.

Growing strategic alliances among players for development and distribution of products is expected to propel the market during the forecast period. Moreover, development of new surgical centers in different locations will increase the adoption of advanced imaging systems.

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Key Takeaways from the report:

  • By modality, the ultrasound segment is predicted to register significant growth during the forecast period owing to advantages such as low price, accessibility, and high degree of measurement for tissue deformation

  • On the basis of end use, the hospital segment is anticipated to hold the largest share in the market during the forecast period due to rising number of ultrasound and MRI-based elastography procedures and growing trends of hospital-based imaging facilities

  • By way of application, the radiology domain is predicted to hold a large share in the market over the forecast period owing to increase in demand in image-guided radiotherapy and radiology ultrasound

  • Asia Pacific is anticipated to witness lucrative growth during the forecast period due to improving healthcare facilities and rising geriatric population who are prone to developing targeted disorders

  • Major players in the elastography imaging industry are focusing on growth strategies such as partnerships, collaborations, mergers, and acquisitions. Some of the leading players are Esaote SpA; Canon Medical Systems Corporation; Koninklijke Philips N.V.; Hitachi, Ltd.; GE Healthcare; Mindray Bio-Medical Electronics Co., Ltd.; Siemens Healthineers; Toshiba America Medical Systems, Inc.; and Samsung Medison Co., Ltd.

North America elastography imaging market size, by modality, 2015 - 2026 (USD Million)


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Regional Insights

North America is anticipated to hold the maximum share in the elastography imagingmarket during the forecast period owing to presence of a large number of global players in the region. Moreover, increasing efforts by manufacturers for commercialization and growing importance among end users for the use of these systems in different countries is driving the regional market.

High healthcare expenditure in most developed countries in Europe is driving the market. In addition, rising government initiatives for cancer screening, including the use of ultrasound devices with elastography, is contributing to market growth.

Asia Pacific is also expected to witness steady growth over the forecast period. Increasing geriatric population, improving healthcare services, and rapid economic growth are factors expected to drive the regional market. Growth in Asia Pacific is majorly contributed by economies such as India, Japan, and China due to speedy expansion of healthcare facilities. Furthermore, increasing awareness among the public concerning therapeutic potential of ultrasound technologies and accurate and speedy results provided by these devices is contributing to the regional market.

Elastography Imaging Market Share Insights

Major players profiled in the market include Canon Medical Systems Corporation; Esaote SpA; FUJIFILM Corporation; GE Healthcare; Hitachi, Ltd.; Koninklijke Philips N.V.; Mindray Bio-Medical Electronics Co., Ltd.; Samsung Medison Co., Ltd.; Siemens; and Toshiba America Medical Systems, Inc.

Key players are focusing on developing strategic alliances in the form of partnerships or collaborations to develop new designs and expand their product portfolio. For instance, recently, GE Healthcare expanded its collaboration with SonoSim. This collaboration is aimed at enhancing education with respect to ultrasound among its users.

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About Grand View Research, Inc.

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

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