Elastography Imaging Market Research Report 2020-2025:Qualitative Insights on Application

Global Elastography Imaging Market Research Report: Information by Modality (Ultrasound, Magnetic Resonance Elastography), Application (Radiology/General Imaging, Cardiology, Obstetrics/Gynecology, Urology, Vascular, Orthopedic & Musculoskeletal Applications, Others), End User (Hospitals & Ambulatory Surgical Centers, Diagnostic Centers, Research Laboratories, Others) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) – Forecast till 2025

Market Scenario

The global elastography imaging market is expected to register a CAGR of 11.1% during the forecast period of 2019 to 2025 with a market value of USD 2,538.2 million in 2018.Elastography is a medical imaging method that plots the elastic properties of soft tissue to stipulate the diagnostic data during surgery. The global elastography imaging market is driven by factors such as the rising prevalence of life-threatening diseases and the growing demand for minimally invasive procedures to diagnose and treat different chronic diseases.

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Additionally, this technique needs less dependence on operator skill, thus reducing the impact of unskilled medical professionals to an extent in the emerging economies. On the other hand, the high cost of the apparatus is projected to hamper the growth of the market during the assessment period. Changes in regulatory policies and rising demand for effective therapies to treat complicated disorders are expected to decrease the impact of restraints during the forecast period.

Moreover, major companies in the market are involved in strategic acquisitions and collaborations to sustain their position in the market. For instance, in November 2018, Canon Medical Systems Corporation introduced Contrast Vector Imaging (CVI) to provide additional information on liver hemodynamics and expand the use of contrast-enhanced ultrasound on its premium ultrasound system. Also, in February 2019, Esaote launched the MyLabX8, an ultrasound platform to support hospitals and clinics.

Segmentation

The global elastography imaging market has been segmented based on modality, application, and end user.The market, based on modality, has been bifurcated into ultrasound, and magnetic resonance elastography. The ultrasound market is expected to hold a major share in the market, owing to the high advantages of this type of modality. The magnetic resonance elastography segment is anticipated to be the fastest growing due to the wider availability and rising adoption rate.

The market, by application, has been divided into radiology/general imaging, cardiology, obstetrics/gynecology, urology, vascular, orthopedic & musculoskeletal applications, and others. The radiology/general imaging segment is expected to hold a major share owing to the increasing occurrences of chronic diseases throughout the globe. The cardiology segment is expected to be the fastest growing one due to the increased patient population in recent years.

The market, by end user, has been classified as hospitals & ambulatory surgical centers, diagnostic centers, research laboratories, and others. The hospitals & ambulatory surgical centers segment is anticipated to hold a major share in the market. This is due to the increasing number of hospitals as well as the increased number of hospitalizations. The diagnostic centers segment is expected to boom and becomes the fastest growing market due to the increased patient preference and inclination towards the diagnostic centers.

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The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The elastography imaging market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European elastography imaging market has been sub-divided Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, UK, Italy, Spain, and the rest of Western Europe. The elastography imaging market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The elastography imaging market in the Middle East & Africa has been divided into the Middle East and Africa.

Key Players

Canon Medical Systems Corporation

Esaote

Fujifilm Holdings Corporation

General Electric Company

Hitachi Ltd.

Koninklijke Philips N.V.

Mindray Medical International Ltd.

Resoundant Inc.

Samsung Electronics (Samsung Medison)

Siemens AG

Supersonic Imagine

Regional Market Summary

Global Elastography Imaging Market Share (%), by Region, 2018

Source: World Health Organization (WHO), Institute of Medicine (IOM)

The market in the Americas is expected to dominate the global elastography imaging market due to the increasing per capita healthcare expenditure and the high adoption of new technology in the region. Furthermore, increasing expenses in research by healthcare bodies is expected to fuel the growth of the market in this region. Additionally, the increase in the insurance coverage and improving reimbursement scenario in the US and Canada are also projected to drive the growth of the market.

The market in Europe showed a substantial amount of growth. The market growth in this region can be attributed to the presence of a well-established healthcare system, an increase in chronic diseases, and the involvement of key companies. For instance, in May 2017, Esaote appointed a new distributor for its ultrasound and MRI products throughout Ireland. Therefore, the market is expected to grow during the forecast period.

The market in Asia-Pacific is projected to have a steady growth rate during the forecast period owing to the increasing number of patients with chronic diseases and government initiatives for healthcare reforms. However, a decrease in capital investment is restricting the market growth of this region.

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The market in the Middle East & Africa is anticipated to account for the least share of the global market due to low disposable income in the region. Moreover, the limited access to treatment facilities is projected to curb the growth of the market in the future.

Global Elastography Imaging Market, by Modality

Ultrasound

Magnetic Resonance Elastography

Global Elastography Imaging Market, by Application

Radiology/General Imaging

Cardiology

Obstetrics/Gynecology

Urology

Vascular

Orthopedic & Musculoskeletal Applications

Others

Global Elastography Imaging Market, by End User

Hospitals & Ambulatory Surgical Centers

Diagnostic Centers

Research Laboratories

Others

Global Elastography Imaging Market, by Region

Americas

North America

US

Canada

Latin America

Europe

Western Europe

Germany

France

Italy

Spain

UK

Rest of Western Europe

Eastern Europe

Asia-Pacific

Japan

China

India

Australia

South Korea

Rest of Asia-Pacific

Middle East & Africa

Middle East

Africa

Intended Audience

Medical device companies

Research and development (R&D) companies

Government research institutes

Academic institutes and universities

Venture capitalists

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