Elastography Imaging Market Snapshot
“From 2023 to 2030, the Elastography Imaging market is expected to grow at a CAGR of 10.8%. It is expected to grow from USD 3.45 billion in 2023 to more than USD 7.8 billion by 2030.”
A method or imaging modality used in medicine called elastography maps the elastic characteristics and stiffness of mostly soft tissue. The technology determines the tissue's hardness or softness and provides diagnostic data on the disease's presence or progression.
For example, malignant tumours are frequently harder than the tissue around them, and diseased livers are stiffer than healthy ones. The most popular methods produce a stiffness map and a reference anatomical image using ultrasound or magnetic resonance imaging (MRI).
The rise in the incidence of breast cancer and chronic liver illnesses are the main factors driving the growth of the elastography imaging market.
The market is also expected to develop as a result of the rising elderly population, rising use of technologically improved elastography imaging instruments for illness diagnosis, and rising R&D expenditures by pharmaceutical firms.
In both industrialized and developing nations, breast cancer is one of the most prevalent tumours that affects women.
The second-leading cause of cancer-related fatalities among women worldwide, according to the American Cancer Society, is breast cancer. The assessment of chronic liver illnesses and breast cancer has historically relied on biopsies, but noninvasive methods like magnetic resonance (MR) elastography and ultrasound-based elastography are now taking center stage.
As a result, the elastography imaging market will rise as these disorders become more common.
Elastography imaging systems are not cost-effective and require greater installation inputs, which increases the cost of patient procedures. This has an effect on how quickly new systems are adopted, particularly in underdeveloped nations where it is more expensive for healthcare facilities to do so.
As a result, numerous nations are unable to afford to buy such systems due to financial restrictions and their high costs. The worldwide elastography imaging market eventually suffers as a result of this. Last but not least, it is projected that hurdles to entry for new producers will further impede market expansion.
Many opportunities for expansion and innovation exist in the elastography imaging market. The accuracy and effectiveness of elastography imaging can be increased by technological advancements like the creation of more advanced ultrasound devices and the use of artificial intelligence.
There are additional potential for the development of elastography imaging services given the rising prevalence of chronic diseases including breast cancer and liver disease.
The market for elastography imaging has benefitted overall from COVID-19. Due to the rise in the number of diagnostic techniques used by patients. The market is also growing as a result of rising diagnostic device developments and rising demand for elastography imaging devices.
The ultrasound elastography imaging and magnetic resonance imaging technologies used in modern ultrasound machines have several advantageous qualities. Additionally, the use of such devices permits examinations without requiring the patient to be moved to radiology facilities, which would raise the risk of cross-infections.
The ability to share images through social media and other internet-based platforms is another significant benefit of current technology, making telemedicine a potential aid to local medical staffs.
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Growth Drivers
The incidence of breast cancer and chronic liver diseases is on the rise.
Breast cancer is a prevalent cancer affecting women globally, leading to the second-leading cause of cancer-related deaths. Chronic liver disease death rates increased by 5.3% annually from 2012 to 2016, with men dying at a higher rate than women. While biopsies are the gold standard for assessing chronic liver diseases and breast cancer, noninvasive techniques like ultrasound-based elastography are becoming more popular.
Elastography imaging systems are expensive and require significant investment, impacting patient adoption, particularly in developing countries. On average, they cost USD 30,000-120,000, necessitating third-party reimbursements for diagnostic and screening procedures.
Budget constraints and high costs hinder global elastography imaging market growth, with new manufacturer entry barriers expected to further stifle growth.
Restraints
Elastography imaging systems are expensive and require significant investments for installation, increasing patient costs. This affects the adoption rate of new systems, especially in developing countries. On average, an elastography ultrasound costs USD 30,000-125,000. Healthcare facilities often rely on third-party payers for reimbursement, and it takes two to five years to secure compensation once a system is launched. This makes healthcare facilities hesitant to invest in new or advanced systems.
Elastography Imaging Market Segment Analysis
The market is divided into two categories based on modality ultrasonic elastography imaging and magnetic resonance elastography. The biggest Elastography Imaging Market Share in 2022 was held by the segment for ultrasonic elastography imaging.
The frequency of breast cancer, chronic liver disorders, and rising demand for minimally invasive procedures are all factors contributing to this market's dominance.
The market for elastography imaging is divided into radiology/general imaging, obstetrics/gynecology, cardiology, urology, vascular, and others based on application.
Due to a rise in demand for high-quality diagnostic and therapeutic imaging capabilities as well as an increase in awareness about radiation dose concerns with other imaging modalities, the radiology/general imaging segment showed the highest growth in 2022 and is expected to continue to lead during the forecast period.
The elastography imaging market is broken down by end user into hospitals and clinics, diagnostic labs, maternity centers, ambulatory surgery centers, and others. Due to an increase in patient visits to hospitals for the purpose of other procedural applications such as gynaecological, obstetric, vascular, and soft tissue screening, the hospitals & clinics segment displayed the Elastography Imaging Market Share in 2022 and is anticipated to lead during the forecast period.
Elastography Imaging Market Leaders
The elastography imaging market Leaders includes 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.
New Developments
16 February 2023: Siemens announced the launch of private industrial 5G user equipment, a critical component for the manufacturing industry in its digital transformation journey.
November 2022: PENTAX Medical launched its new Performance Endoscopic Ultrasound (EUS) system in Canada. The system consists of a combination of its new ARIETTA 65 PX ultrasound scanner and its best-in-class J10 Series Ultrasound Gastroscopes. The J10 Series Ultrasound Gastroscope and ARIETTA 65 PX offer high image quality, real-time tissue elastography, and better therapeutic access.
May 2022: Mindray launched Resona I9 Advanced Technologies, which included HiFR Sound Touch Elastography. It allowed for smoother transition times and faster refresh rates for more consistent acquisition and assessment during live 2D shear wave imaging.
March 2022: Fujifilm Healthcare Europe introduced the new Arietta ultrasound series, including Arietta 850 DeepInsight and Arietta 650 DeepInsight that supports comprehensive diagnoses of hepatic diseases such as hepatitis, hepatic fibrosis, and hepatic cirrhosis, using Real-time Tissue Elastography (RTE) and Shear Wave Measurement (SWM), which color-code and quantify tissue stiffness, respectively.
17 August 2021: Siemens Limited and Tata Power Delhi Distribution Limited (Tata Power-DDL) jointly announced the successful deployment of Smart Metering Technology for over 2,00,000 Smart Meters in North Delhi.
Elastography Imaging Market Regional Analysis
In 2022, North America held the largest market share for elastography imaging, and it is projected that it will continue to hold this position during the forecast period. The market for elastography imaging is primarily driven by the widespread use of technologically sophisticated imaging systems, a growth in healthcare spending, the existence of significant important players in the nation, and the tactics these companies use for their product development.
During the forecast period, Asia-Pacific is anticipated to have the fastest CAGR. The demand for minimally invasive therapies, healthcare reforms, and highly populated nations with high birth rates and a high prevalence of chronic diseases all contribute to the expansion of the elastography imaging industry in the Asia-Pacific area. Additionally, the presence of significant unmet needs in these countries, particularly in those like China and India, and the rise in patient awareness are anticipated to further propel market expansion.
Segments Covered in Elastography Imaging Market
Elastography Imaging Market by Modality
- Ultrasound Elastography Imaging
- Magnetic Resonance Elastography
Elastography Imaging Market by Application
- Radiology/General Imaging
- Cardiology
- Obstetrics/Gynecology
- Urology
- Vascular
- Others
Elastography Imaging Market by End User
- Hospitals & Clinics
- Diagnostic Labs
- Maternity Centers
- Ambulatory Surgical Centers
- Others
The above information has been provided for the following regions and countries:
North America
Europe
- UK
- Germany
- France
- Italy
- Russia
Asia Pacific
- China
- India
- Japan
- South Korea
Latin America
MEA
- UAE
- Saudi Arabia
- South Africa
Frequently Asked Questions
What is the worth of elastography imaging market?
From 2023 to 2030, the Elastography Imaging market is expected to grow at a CAGR of 10.8%. It is expected to grow from USD 3.45 billion in 2023 to more than USD 7.8 billion by 2030.
What is the size of the North America elastography imaging industry?
North America held more than 39 % of the elastography imaging market revenue share in 2022 and will witness expansion in the forecast period.
What are some of the market's driving forces?
In both industrialized and developing nations, breast cancer is one of the most prevalent tumours that affects women. The second-leading cause of cancer-related fatalities among women worldwide, according to the American Cancer Society, is breast cancer. The assessment of chronic liver illnesses and breast cancer has historically relied on biopsies, but noninvasive methods like magnetic resonance (MR) elastography and ultrasound-based elastography are now taking center stage. As a result, the elastography imaging market will rise as these disorders become more common.
Which are the top companies to hold the market share in elastography imaging market?
The elastography imaging market key players includes 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.
What is the leading application of elastography imaging market?
The market for elastography imaging is divided into radiology/general imaging, obstetrics/gynecology, cardiology, urology, vascular, and others based on application. Due to a rise in demand for high-quality diagnostic and therapeutic imaging capabilities as well as an increase in awareness about radiation dose concerns with other imaging modalities, the radiology/general imaging segment showed the highest growth in 2022 and is expected to continue to lead during the forecast period.
Which is the largest regional market for elastography imaging market?
In 2022, North America held the largest market share for elastography imaging, and it is projected that it will continue to hold this position during the forecast period. The market for elastography imaging is primarily driven by the widespread use of technologically sophisticated imaging systems, a growth in healthcare spending, the existence of significant important players in the nation, and the tactics these companies use for their product development.
1.SUMMARY
1.1. Elastography Imaging Market Overview
1.2. Key Insights
1.3. Report Scope
1.4. Research Methodology
1.5. Frequently Asked Questions
1.6. Chapter Outlines
- DECISION-MAKING SUMMARY
- INTRODUCTION
3.1. Overview of Elastography Imaging
3.2. Key Historical Events
3.3. Structure
3.4. Biochemical Interaction
3.5. Target Indications
3.6. Advantages of Elastography Imaging
3.7 Challenges associated with Elastography Imaging
3.8. Future Perspectives.
- MARKET LANDSCAPE
4.1. Methodology
4.2 Elastography Imaging: Developer Landscape
4.2.1. Analysis by Year of Establishment
4.2.2. Analysis by Company Size
4.2.3. Analysis by Location of Headquarters (Region-wise)
4.2.4. Analysis by Location of Headquarters (Country-wise)
4.2.5. Analysis by Year of Establishment, Company Size and Location of Headquarters (Region-wise)
4.2.6. Most Active Players
- COMPANY
5.1. Company Overview
5.1.2 Management Team
5.1.3. Product Portfolio
5.1.4. Recent Developments and Future Outlook
- PARTNERSHIPS AND COLLABORATIONS
6.1. Partnership Models
6.2. Elastography Imaging: Partnerships and Collaborations
6.2.1. Analysis by Year of Partnership
6.2.2. Analysis by Type of Partnership
6.2.3. Analysis by Year and Type of Partnership
6.2.4. Analysis by Type of Partner
6.2.5. Analysis by Year of Partnership and Type of Partner
6.2.6. Analysis by Type of Partnership and Type of Partner
6.2.7. Analysis by Type of Partner and Parent Company Size
- ACADEMIC GRANTS ANALYSIS
7.1. Methodology and Key Parameters
7.2. Elastography Imaging: Academic Grants Analysis
7.2.1. Analysis by Year of Grant Award
7.2.2. Analysis by Amount Awarded
7.2.3. Analysis by Funding Institute Center
7.2.4. Analysis by Support Period
7.2.5. Analysis by Funding Institute Center and Support Period
7.2.6. Analysis by Type of Grant Application
7.2.7. Analysis by Purpose of Grant
- PUBLICATION ANALYSIS
8.1. Analysis Methodology and Key Parameters
8.2. Elastography Imaging: Publication Analysis
8.2.1. Analysis by Year of Publication
8.2.2. Analysis by Type of Publication
8.2.3. Analysis by Type of Conjugate
8.2.4. Analysis by Target Indication
8.2.5. Analysis by Copyright Holder
8.2.6. Word Cloud: Emerging Focus Area
8.2.7. Most Active Publishers: Analysis by Number of Publications
- SUCCESS PROTOCOL ANALYSIS
9.1. Methodology and Key Parameters
9.2. Key Assumptions and Scoring Criteria
9.3. Success Protocol Analysis
9.4. Assessment of Approved Elastography Imaging
- Appendix 1: Tabulated Data
- Appendix 2: List of Companies
- 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
