PUBLISHER: Allied Market Research | PRODUCT CODE: 1179596
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179596
The global elastography imaging market was valued at $3,019.01 million in 2021 and is projected to reach $6,002.4 million by 2031, registering a CAGR of 7.1% from 2022 to 2031. Elastography is a medical imaging modality or system that plans the elastic properties and stiffness of mainly soft tissue. The system is used to identify whether the tissue is hard or soft and hence give diagnostic information regarding the presence or status of the disease. For instance, cancerous tumors will often be harder than the surrounding tissue, and diseased livers are stiffer than healthy ones. The most widely used techniques utilize ultrasound or magnetic resonance imaging (MRI) to make both the stiffness map and an anatomical image for comparison. Elastography measures the stiffness (or elasticity) of organs in vivo by using low-frequency vibrations during an ultrasound or MRI. It is mainly used for detecting the presence and severity of liver disease.
Magnetic resonance elastography (MRE) is a technology that combines MRI imaging with low-frequency vibrations to create a visual map (elastogram) that shows the stiffness of body tissues. Currently, MRE is used to detect stiffening of the liver caused by fibrosis and inflammation in chronic liver disease.
As patient volumes continue to increase due to ageing populations and increasing co-morbidities, and budgets continue to shrink; it is evident that the elastography imaging market is in a unique position to grow due to its cost-effective, real-time, portable solutions.
The key factors that drive the growth of the market are the rise in incidence of breast cancer, and chronic liver diseases, and the surge in the demand for minimally invasive procedures, or non-invasive techniques for cancer detection and treatment. For instance, according to the article published by the American Association for the Study of Liver Disease, the absolute number of chronic liver disease (CLD) cases is estimated at 1.5 billion worldwide in 2021. The most common causes of prevalent disease are non-alcoholic fatty liver disease (NAFLD) (59%), followed by hepatitis B virus (HBV) (29%), hepatitis C virus (HCV) (9%), and ALD (2%). Moreover, there are 257 million people worldwide living with chronic HBV. Without proper management, approximately 20% will die early of liver failure or hepatocellular carcinoma. It is estimated that only 11% of infected people are aware of their infection, and 17% of those are receiving treatment.
Furthermore, product advancements and new launches are projected to assist key leaders in gaining maximum market share as they have focused on meeting market demand. High quality transducers, reduced diagnosis time, and effective usage in point-of-care and remote diagnosis are expected to fuel market growth. For instance, Royal Philips, a global leader in health technology, launched new AI-enabled innovations in MR imaging at the Radiological Society of North America (RSNA) annual meeting in November 2021. Philips' new MR portfolio of intelligent integrated solutions is designed to speed up MR exams, streamline workflows, optimize diagnostic quality, and help ensure the efficiency and sustainability of radiology operations.
However, higher cost of the elastography imaging systems is anticipated to hinder the growth of the industry during the forecast period. Conversely, the emerging healthcare market in developing countries and low-income countries lacking access to basic healthcare and, alternatively, the use of elastography imaging for cancer research is anticipated to generate new growth opportunities in the elastography imaging market during the forecast time period.
The elastography imaging market is segmented on the basis of modality, application, end user and region. By modality, the market is bifurcated into ultrasound elastography imaging and magnetic resonance elastography. On the basis of application, the market is classified into radiology/general imaging, obstetrics/gynecology, cardiology, urology, vascular and other. By end user, the market is categorized into hospitals & clinics, diagnostic labs, maternity centers, ambulatory surgical centers and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By modality, on the basis of ultrasound elastography imaging, the market is further sub-segmented into shear-wave elastography, strain elastography, 1D transient elastography.
By End User
By Modality
By Application
By Region