The major driving factors in the elastography imaging market are growing incidence of breast cancer and chronic liver diseases, and a rising preference for minimally invasive procedures across the globe.
According to research report the Elastography Imaging Market is expected to grow from USD 2.5 billion in 2018 to USD 4.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period.
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The hospitals, surgical & diagnostic centers segment, by end user, is projected to occupy the majority of the elastography system market share and grow at the fastest rate during the forecast period.
Based on end user, the global elastography imaging market is segmented into hospitals, surgical & diagnostic centers; ambulatory surgical centers; and other end users. The large share of this segment can be attributed to the significant number of ultrasound and MRI-based elastography medical procedures performed in hospitals, growing trend of workflow automation among healthcare providers, and rising adoption of minimally invasive diagnostic & surgical procedures in these facilities.
The ultrasound elastography imaging segment is expected to account largest share in the global elastography system market during the year 2018.
On the basis of modality, the elastography system market is segmented into ultrasound and magnetic resonance. Ultrasound imaging involves the imaging of organs by exposing the anatomy to high-frequency sound waves. Elasticity imaging or elastography through ultrasound elastography (USE) provides complementary information to conventional ultrasound by adding stiffness as another measurable property to current ultrasound imaging techniques.
Asia-Pacific is projected to account for the fastest growth in the elastography imaging market during the forecast period.
Asia-Pacific is estimated to grow at a highest CAGR during the forecast period. The Asia Pacific elastography system market, particularly comprises Asian countries (such as India, China, South Korea, Japan, and Indonesia, among others) and Pacific countries (such as Australia, New Zealand, and Fiji, among others). Emerging Asia Pacific countries, such as India, China, Japan, South Korea, and Indonesia, are witnessing increasing per capita healthcare expenditure and rapid expansion and the modernization of their respective healthcare infrastructure.
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The major Elastography System Market players include GE Healthcare (US), Siemens Healthineers (Germany), Philips Healthcare (Netherlands), Canon Medical System Corporation (Japan), Samsung Medison (South Korea), Hitachi Ltd. (Japan), Shenzhen Mindray Bio-Medical Electronics Co. (China), FUJIFILM Holdings Corporation (Japan), Esaote (Italy), SuperSonic Imagine (France), and Resoundant (US).