Elastography Imaging Market Size, Share, Growth, and Industry Analysis, By Type (Ultrasound and Magnetic Resonance Elastography), By Application (Hospitals, Ambulatory Surgery Centers and Others) and Regional Forecast to 2032

Updated On: 04 November 2024

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ELASTOGRAPHY IMAGING MARKET REPORT OVERVIEW

The Elastography Imaging Market Size was Valued at US$ 2484.08 Million in 2023. The Market is likely to Surpass US$ 4445 Million by 2032 at a CAGR of 6.02% During the Forecast period [2024-2032].

The growth in elastography imaging market is very strong due to the advancements in imaging technology combined with the rising demand for non- invasive diagnostic tools. Non-invasively diagnosing or tracking any disease would be difficult without this kind of data and hence these qualities make it invaluable in metastatic liver cancer detection among others so much so that one cannot do without relying on measurements of stiffness or elasticity obtained from this type of process called elastography imaging even though they may vary at times depending on what organ is involved: liver being harder than breast which is easier as indicated by the terms. Factors responsible for market growth are an increase in the occurrence of chronic liver diseases and cancer conditions that require efficient and accurate methods of diagnosis. Elastography is better than conventional imaging methods in terms of diagnostics because it provides instantaneous assessment of tissue stiffness and therefore assists in early detection, as well as staging of diseases. Advances in technology that are being exhibited through creation of new elastography methods that include shear wave elastography (SWE) and acoustic radiation force impulse (ARFI) imaging are helping in increasing the precision and usefulness of elastography devices. They help improve how patients

COVID-19 Impact: Market Growth Restrained by Pandemic due to the due to disruptions in elective and non-emergency medical procedures

The Global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Primary because of complications in non-urgent and non-emergent medical treatments, the Elastography Imaging Market felt the effect of the COVID-19 pandemic deeply. At the peak period of this global scourge, most health facilities had to put off their elective surgeries as well as just routine diagnostic tests thus leading to a momentary decrease in the application of elastography imaging. The redirection of resources and efforts by hospitals and clinics to manage patients with COVID-19 and prevent the spread of the virus has influenced how much specialized imaging services are available and used.

However, the pandemic also caused an uptick in the use of cutting-edge imaging technologies, such as elastography, with healthcare providers wanting to boost their diagnostic abilities and deal with long-term effects of COVID-19. Consequently, there has been an upswing in imaging technology investment and innovative advancements that place greater priority on non-invasive diagnostic devices. During recovery and adaptation to new norms, healthcare systems expect that elastography imaging market shall grow due to a renewed demand of accurate and efficient diagnostic solutions.

LATEST TRENDS

"Integration of elastography with artificial intelligence (AI) to drive market growth"

There is a major trend in the Elastography Imaging market where the integration of elastography with artificial intelligence (AI) is for improved diagnosis. This usage of AI algorithms for the analysis-interpretation of elastographic data has become more pronounced, leading to better measurements on tissue stiffness as well as increased detection rates for diseases. This tendency mirrors a wider motion for including sophisticated technology to strengthen the ability to make diagnoses faster, to simplify the processes via which work is done, and to help medical practitioners in improving results in what they give as services to their patients.

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ELASTOGRAPHY IMAGING MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Ultrasound and Magnetic Resonance Elastography.

• Ultrasound : The popularity of ultrasound elastography is because of its non-invasiveness as well as being able to capture images in real time, while giving information about tissue stiffness by gauging the pace at which shear waves traverses the said tissues. It is widely utilized for diagnosing liver fibrosis, thyroid nodules and other soft tissue abnormalities.

• Magnetic Resonance Elastography : Mechanical vibrations combined with MRI technology enable Magnetic Resonance Elastography (MRE) to generate images of the stiffness of tissues with a lot of detail. The technique is especially useful while observing such complex organs as the brain or the liver. MRE is recognized for its capability to offer specific measurements of tissue elasticity.

By Application

Based on application the global market can be categorized into Hospitals, Ambulatory Surgery Centers and Others.

• Hospitals : Hospitals utilize elastography imaging to diagnose a range of ailments accurately, such as liver fibrosis and tumours. The integration of the technology within hospital environments has led to improved patient outcomes through provision of high-resolution images in real time necessary for effective treatment plans. The suitability of elastography in terms of detecting tissue hardness non-invasively remains beneficial to healthcare facilities.

• Ambulatory Surgery Centers : ASCs implement elastography imaging to simplify diagnostic procedures and enhance surgical results. In the outpatient context, in which efficiency is crucial, such technology can provide rapid and accurate evaluation hence becoming very useful. Thus, by including elastography ASCs raise their diagnostic accuracy levels while facilitating good preoperative planning plus post-operative follow-up.

DRIVING FACTORS

"Technological Advancements to Boost Market Growth"

Elastography imaging market growth is being driven by advancements in elastography imaging, such as the development of more sensitive and accurate devices which improve diagnostic capabilities. Better patient outcomes and a higher uptake in clinical settings can result from advancements in elastic imaging modalities that allow for more precise monitoring of tissue stiffness.

"Rising Incidence of Chronic Diseases to Drive Market Growth"

An ever-rising number of seriously ill people especially in situations like liver fibrosis and cancer makes the use of elastrography on the rise. These conditions call for continuous examination of tissue alterations whereby elastography enables an easy way to determine how the disease is faring on and the effectiveness of used medication.

RESTRAINING FACTORS

"High cost of advanced imaging equipment to Hinder Market Growth"

One major obstacle to the advancement of the market is that it is very expensive to acquire advanced imaging equipment which can be inaccessible especially within developing areas. Also, purchasing and keeping an elastography system requires considerable initial capital thereby acting as a disincentive for many individuals to use this technology. This deters hospitals and other health institutions from incorporating it into their service delivery systems since they do not have enough resources for such investments.

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ELASTOGRAPHY IMAGING MARKET REGIONAL INSIGHTS

The market is primarily segregated into North America, Europe, Asia Pacific, South America and Middle East & Africa.

"North America dominates the market due to its advanced healthcare infrastructure and high adoption rate of cutting-edge technologies"

Its robust healthcare industry and willingness to embrace state-of-the-art medical technologies ensure that North America has the upper hand in the field of elastography imaging market share. Equally important is fact that research in this area is highly prioritized while it is also home to some of the world’s leading companies when it comes to manufacturing medical devices. High healthcare spending and a robust regulatory environment further the extensive use of elastography imaging systems in addition to its widespread adoption. The market leadership of elastography imaging systems in this region is driven by emphasis on early disease detection and personalized medicine.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market Through Technological Innovations and Strategic Collaborations"

Significantly influencing the growth of the elastography imaging market are the key industry players because they have made technological advancements and entered into strategic collaborations. In specific, the key industry players have invested greatly in R&D to improve the accuracy and functionality of elastography imaging systems hence making them to have advanced features including real time images as well increased sensitivity. These players are also creating close partnerships with healthcare providers as well as other actors involved in the industry intending to extend market boundaries and encourage popularity. The endeavours aimed at operating in a different way as well as dealing with clinical requirements are putting up within less reach and efficiency in diagnosing multiple disorders hence making the elastography imaging for various conditions have witnessed a high degree of accessibility leading to enhancing market growth in general terms.

LIST OF MARKET PLAYERS PROFILED

• Esaote (Italy)
• Shenzhen Mindray (China)
• Resoundant (U.S.)
• SuperSonic (France)
• Hitachi (Japan)
• GE Healthcare (U.S.)
• Siemens Healthineers (Germany)
• Samsung Medison (South Korea)
• Philips Healthcare (Netherlands)
• Canon Medical System (Japan)
• FUJIFILM (Japan)

INDUSTRIAL DEVELOPMENT

June 2024: The development in the Elastography Imaging Market was announced by Siemens Healthineers. The “ACUSON Sequoia” ultrasound system they launched was now more advanced because it had included elastography imaging technology. In addition to having high resolution pictures, the system also made elastic tissue measurements quite accurately hence improving the diagnostic process for both liver diseases as well as breast cancers. Siemens is focused on enhancing the diagnostic precision and patients’ results whereas using sophisticated elastography and latest imaging mode that together help doctors make better judgments in their work.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.