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Elastography Imaging Market Size
Elastography Imaging Market size is set to gain significant momentum from 2024 to 2032, owing to the rising demand for minimally invasive medical procedures. The innovations in technology offer clinicians valuable insights into tissue stiffness without invasive procedures.
The growing incidences of chronic diseases such as cardiovascular diseases, obstetrics/gynecology, urology, cancer, and others is further impelling the number for non-invasive procedures. As per British Heart Foundation, approximately 620 million individuals reside worldwide with heart and circulatory diseases. Further, according to estimates from the WHO (World Health Organization), in 2022, 287,850 new cases of invasive breast cancer in women were diagnosed across the U.S. While biopsies are considered as conventional standard for the assessment of diseases like breast cancer, noninvasive techniques like M.R. (magnetic resonance) elastography and ultrasound-based elastography are being used extensively to identify suspicious areas. They are also used to determine whether the areas are cancerous.
Elastography Imaging Market Trends
The integration of artificial intelligence and machine learning algorithms is enhancing the accuracy and efficiency of elastography imaging techniques. The collaborations between key market players and research institutions that are fostering the development of novel elastography imaging modalities tailored to specific clinical applications, further expanding its potential. Overall, these trends underscore the evolving market landscape, poised to address pressing healthcare challenges and improve patient outcomes.
Elastography Imaging Market Analysis
The magnetic resonance elastography segment is poised to record a notable progression through 2032, driven by the noninvasive technique used extensively to diagnose liver disease by quantifying the elastic properties of tissues. Furthermore, beneficial attributes such as high repeatability, reliability of results, ease of use, decreased dependency on operators, and clearer detailed tumor images will favor the technique adoption.
Portable segment would account for remunerative value between 2024 to 2032, as it enables high functionality and boasts benefits including easy connectivity, superior portability, and real-time on-site diagnostics.
North America is expected to emerge as a major revenue pocket for the elastography imaging market through 2032 on account of the surging healthcare expenditure in countries like the U.S. As per CMS.gov in 2022, U.S. healthcare spending experienced a growth of 4.1%, reaching $4.5 trillion or $13,493 per person. The increasing prevalence of chronic diseases, such as liver fibrosis and breast cancer, drives the demand for accurate diagnostic tools for disease management and treatment planning. Furthermore, supportive regulatory policies and favorable reimbursement frameworks in North America encourage healthcare providers to integrate elastography imaging into their clinical practice, contributing to market expansion.
Elastography Imaging Market Share
Key players operating in the elastography imaging industry include:
- Shenzhen Mindray Bio-Medical Electronics
- Fujifilm Holdings
- Samsung
- G.E. Healthcare
- Esaote SpA
- Hitachi Medical Systems (FujiFilm Healthcare Americas Corporation)
- Koninklijke Philips N.V.
- Canon Medical Systems
- Siemens
Elastography Imaging Industry News
In September 2023, Mayo Clinic and GE HealthCare announced a strategic healthcare collaboration for R&D programs aimed at transforming the experience of patients and clinicians in the practice of radiology and the delivery of novel therap