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 growth of the global elastography imaging market is mainly driven by the growing incidence of breast cancer and chronic liver diseases, and a rising preference for minimally invasive procedures across the globe. Emerging economies will provide new growth opportunities for players in the elastography imaging market.
The major elastography imaging vendors 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).These players have adopted various growth strategies from 2016 to 2018, such as product launch, collaboration, partnership, acquisitions and expansions to expand their presence in the global elastography imaging market. This has helped them to innovate their offerings and broaden their customer base.
Philips Healthcare is among the top players operating in the global elastography imaging system market. The company focuses on developing advanced elastography imaging systems and expanding its geographical presence in order to maintain its position in the market. Philips Healthcare manufactures its products in 25 countries and distributes these products in over 100 countries, on a global scale.
GE Healthcare is one of the leading companies in the elastography imaging systems. The company focuses on maintaining its leading position in the market through pipeline development and product commercialization. It has a strong presence and wide industry coverage in North America, South America, Europe, Australia, and Asia. The company has a reliable customer- services support set up, which helps in strengthening its customer relationships and growing its geographical presence. The company is expected to grow at a positive rate in the market due to its superior product offerings.
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Asia-Pacific is estimated to grow at a highest CAGR during the forecast period. The Asia Pacific elastography imaging 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.