Global Elastography Imaging Market is valued approximately at USD 2.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.1% over the forecast period 2020-2027. Elastography imaging is a technique that represents the elastic attributes and severity of soft tissue through utilizing the imaging modality, such as magnetic resonance and ultrasound imaging. The core concept of elastography imaging is that: it provides accurate diagnostic information about the presence of diseases when tissue is either soft or hard, which can lead to proper treatment or diagnosis of the certain diseases. It is further used for obtaining supplementary diagnostic information in comparison to a mere anatomical image, and often is used to monitor biopsies. The increase in elastography imaging market is imputed to the fact that the preference for non-invasive procedures is relentlessly expanding across the globe. Moreover, the rise in prevalence of breast cancer and chronic liver diseases coupled with growing awareness about the benefit of elastography imaging are few other factors responsible for the CAGR of the market during the forecast period. According to the World Cancer Research Fund International (WCRFI), breast cancer is one of the most frequent form of cancer around the world, with an average of 2 million new cases found among women each year. Likewise, the American Cancer Research Society (ACRS) also anticipated that the prevalence rate of breast cancer is likely to reach more than 9.9 million cases with around 5.5 million annual deaths by the year 2030 due to the rising geriatric aging. This, in turn, is likely to accelerate the adoption of elastography imaging systems, thus accelerating the market growth all over the world. However, the high cost of elastography imaging systems and unfavorable reimbursement scenario are the few factors inhibiting the market growth over the forecast period of 2020-2027.
The regional analysis of the global Elastography Imaging market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of advanced elastography imaging system along with the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in prevalence of cardiology diseases and cancer aligned with the improving healthcare infrastructure in developing nations, such as China and India, would create lucrative growth prospects for the Elastography Imaging market across the Asia-Pacific region.
Major market player included in this report are:
General Electric Company
Koninklijke Philips N.V.
Canon Medical Systems Corporation
Fujifilm Holdings Corporation
Mindray Medical International Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Magnetic Resonance Elastography
Ambulatory Surgical Centers
Surgical & Diagnostic Centers
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Elastography Imaging Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers