Elastography Imaging Market is Augmented to Consume a Phenomenal Double-Digit CAGR of 11.1% During Forecast 2019-2025

Market Highlights:

Elastography is a medical imaging method that plots the elastic properties of soft tissue to stipulate the diagnostic data during surgery. The elastography imaging market is fueled by numerous factors such as growing demand for minimally invasive procedures to diagnose and treat different chronic diseases, along with the rising prevalence of life-threatening diseases. However, the high cost of the systems is expected to curb the growth of the elastography imaging market.

It is estimated that 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.

The global elastography imaging market is currently dominated by numerous market players. The key players are involved in new product launches and strategic collaborations to strengthen its market position. For instance, in February 2019, Esaote launched the MyLabX8, an ultrasound platform to support hospitals and clinics. Also, 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.

Key Players:

·         Canon Medical Systems Corporation

·         Siemens AG

·         Fujifilm Holdings Corporation

·         Esaote, Resoundant Inc

·         Hitachi Ltd

·         Mindray Medical International Ltd

·         Koninklijke Philips N.V

·         Samsung Electronics (Samsung Medison)

·         Supersonic Imagine

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 segment 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 market, by end user, has been classified as hospitals & ambulatory surgical centers, diagnostic centers, research laboratories, and others.

Regional Analysis:

The market in the Americas is likely to lead the global elastography imaging market during the assessment period owing to the increasing per capita healthcare expenditure, and the heavy adoption of new technology in the 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.

Europe is expected to hold the second largest position in the global elastography imaging market. The market growth in this region is because of the presence of a well-established healthcare system, an increase in life-threatening diseases, and the active involvement of major players. For instance, in May 2017, Esaote expanded its ultrasound sales team in the UK.

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.