According to Future Market Insights research, during the projected period, the global elastography imaging market is expected to progress at a CAGR of 10.5%. The industry’s value is projected to increase from USD 3,841.6 million in 2024 to USD 10,426.4 million by 2034.
Sales of elastography imaging equipment are likely to be augmented with the integration of cutting-edge technologies, including AI. Due to this integration, real-time monitoring can be possible. Cell swelling and tumor stiffness can be detected early, diagnosing the disease more efficiently. Owing to the demand for early diagnosis, sales of such equipment are expected to rise in the forecast period at an impressive rate.
| Attributes | Key Insights |
|---|---|
| Estimated Elastography Imaging Market Size in 2024 | USD 3,841.6 million |
| Projected Elastography Imaging Industry Value in 2034 | USD 10,426.4 million |
| Value-based CAGR from 2024 to 2034 | 10.5% |
The rising use of cutting-edge technologies, apart from AI, is expected to gain prominence in the field. Techniques like magnetic resonance elastography are likely to be used extensively to generate in-depth analysis of cell activity.
Elastrography techniques can be integrated with MRI and CT scan methods. This integration can deliver a detailed analysis related to the progress of infection in the patient’s body. This integration can elevate the standards of diagnosis, and hence, healthcare professionals are keen on adopting such imaging techniques.
A trend of using point-of-care devices is observed to have gained importance in the competitive space. Consumers and medical professionals are relying more on the use of portable medical instruments. This trend augments the design of imaging equipment used for elastography. Key manufacturers in the industry are likely to invest more in innovating, which can elevate the reach of devices in remote regions and areas.
The elevated reach of such devices can upsurge the demand for instruments. As a result, the size of the industry might elevate even further. The growing focus on alternations of reimbursement policies is another crucial trend observed in the competitive space. Favorable policies for key players can drive the adoption rate of equipment, augmenting the growth rate of the global elastography imaging market.
The growing geriatric population is a key factor that propels the demand for key medical devices that can provide constant medical support. Senior people are likely to require frequent diagnosis for several physical disorders, which drives the demand for imaging equipment.
Owing to different trends in the sector, the industry was likely to progress at a CAGR of 11.3% during the first half (H1) of the period 2023 to 2033, whereas the progress of the competitive space was marked at a CAGR of 11% in the next half (H2) of the period.
| Particulars | Value CAGR |
|---|---|
| H1 | 11.3% (2023 to 2033) |
| H2 | 11% (2023 to 2033) |
| H1 | 10.5% (2024 to 2034) |
| H2 | 10.2% (2024 to 2034) |
The initial half (H1) of the period 2024 to 2034 forecasts the development at a CAGR of 10.5%, whereas the next half (H2) of the period projects the growth at 10.2%. The depreciating rate of advancement is attributed to 80 BPS through the initial half (H1) and the subsequent half (H2) period each.
Trends of Adoptions of Elastography Imaging in Oncology to Drive the Sector
A rising trend to detect cell activity, swell, and mutation of cells in the detection of prostate and other key cancer types is observed to have gained traction in the recent few years. Healthcare professionals are using elastography to monitor the growth of infected cells and other activities in the infected areas.
The expansion of such techniques in the oncological department of the healthcare industry is fueling the adoption rate of such imaging techniques and tools, driving sales in the elastography imaging market.
Prevalence of Chronic Diseases to Drive Elastography Imaging Market Growth
The rising prevalence of chronic diseases across the world is driving the demand for efficient and early diagnosis methods. The cases of liver cirrhosis, fibrosis, breast cancer drugs, and many more are increasing at an alarming rate.
To mitigate this increasing disease rate, diagnostics equipment and techniques must be upgraded. Pertaining to this demand, elastography imaging equipment has gained more prominence in the sector, generating more sales for therapies and instruments.
The rising demand for advanced imaging solutions to detect unnatural swelling of cells is propelling sales of elastography imaging equipment. Owing to several government initiatives to bolster the healthcare infrastructure, such adoption has been accelerated. As a result, this factor is another driver for the competitive landscape.
Personalized Medicines to Create Opportunities for Elastography Imaging
The trend of providing tailored solutions to patients depending on individual requirements is increasing in the industry. To cater to this trend, personalized medicines are gaining traction.
Healthcare professionals are expected to use personalized therapies, medicines, and diagnosis techniques that can leverage a better understanding of a person’s health condition. This trend creates opportunities for key manufacturers to augment products that can suit the requirements of the elastography imaging market.
Lack of Skilled Professionals to Constrain the Elastography Imaging Market Size
The availability of skilled professionals is found to be less. The investment for the skill enhancement of a workforce that can handle elastography imaging tools is relatively higher.
Medical professionals, due to this factor, are found to be reluctant to invest in the skill enhancement of the workforce in several regions. This confines the use of the technology. The cost of installment and operation are higher for the imaging machines. As a result, this is another key limitation of the use of machines, which affects the rate of adoption, hindering the progress of the industry.
The global elastography imaging market navigated through the historical period at a CAGR of 8.9%. This development elevated the size of the industry to USD 2,181.4 million by 2023, which was measured at USD 3,476.6 million in 2019.
Owing to the quality of technology used and the financial considerations of the technology, the adoption rate of the technology was higher in countries within North America and Europe.
The adoption rate in developed countries pushed the growth of the industry during the historical period. As the reach of the technology was confined to only a few countries across the world, the progress rate did not proliferate during the period.
With constant research and developments in the field of elastography imaging, technology was innovated and made available for more countries. This spurred the demand for the technology across the globe, creating prospects for the said ecosystem.
Clinical studies and trials during the historical period expanded the use of the said technique. The growing prevalence of respiratory diseases during the era was also responsible for the development of the industry. Owing to the growing demand for accurate and early diagnosis, elastography imaging gained more importance.
The forecast period is likely to be governed by the growing adoption rate across different countries. Several emerging countries have reflected decent progress in the healthcare sectors.
This creates prospects for several key organizations to expand globally, driving the demand for elastography imaging equipment. Increasing government investments in the healthcare sector are creating more growth opportunities for innovative diagnosis techniques, and fueling the sales of imaging solutions and tools.
The concentration within the competitive space is identified to be governed by two key categories, including Tier 1 and Tier 2 categories. The share of such categories in the said sector can be calculated based on the scope of expansion across the global ecosystem.
In the case of the Tier 1 category, the avenue is governed by several large-scale organizations. Owing to better financial resources available to firms, companies can enter new pockets of the global landscape, ensuring a better position in the industry. Pertaining to meet changing consumer demands, such companies can be more efficient due to the ability of firms to rapidly change manufacturing and sales processes.
Despite better global reach, the ability of large-scale firms to target local sectors is less, affecting the presence of Tier 1 organizations in local sectors against local players. The revenue generation capacity of the Tier 1 category organizations is capped above USD 100 million, explaining better resource and technological acquisition of such firms.
The share of the Tier 1 category in the industry is about 51.6% in 2024, owing to all the abovementioned factors. The Tier 2 category comprises several small and medium-scale organizations. On the contrary to the previously mentioned category, companies operating in Tier 2 are capped below USD 50 million in terms of the revenue generation capacity of such firms.
Despite lacking resource acquisition and financial backing, such firms have more knowledge regarding local consumer trends. Adapting local trends is possible for such firms, confirming the presence of Tier 2 organizations in such sectors. With the effect of such attributes, the Tier 2 category holds 24.5% of the industry share in 2024.
Owing to key regulatory policies and frameworks in Europe, the standardization of different medical processes has become mandatory. This is likely to spur the demand for standardized imaging equipment, driving the ecosystem.
Technological infrastructure in North America is expected to offer consolidation to leading manufacturers of elastography imaging technology. This is likely to help the region contribute significantly to the development of the industry. The prevalence of several chronic diseases in Asia-Pacific is creating prospects for the global elastography imaging sector in the region.
Forecast CAGRs from 2024 to 2034
| Countries | Forecasted CAGR |
|---|---|
| The United States of America | 3.1% |
| The United Kingdom | 3.8% |
| India | 12.7% |
The elastography imaging market size in the United States is set to advance at a CAGR of 3.1% through 2034. The government of the country has been affirmative on healthcare expansion. To cater to this objective, various initiatives have been taken, including financial allocation for the sector.
The monetary backing is bolstering the healthcare sector, as key players in the industry can acquire cutting-edge technology. This can elevate the quality, real-time image processing and monitoring, and many other key aspects related to elastography imaging. Technological innovation is another aspect of the expansion of the healthcare infrastructure. Such factors spur the demand for better equipment in the sector.
The estimated growth of the elastography imaging sector is likely to adhere to 3.8% through 2034. Owing to government initiatives and awareness programs designed along with National Healthcare Services (NHS), public awareness regarding liver diseases is expected to increase in the country.
National screening programs are expected to spur in the forecast period, which is another fueling factor for increasing public awareness. Such campaigns drive attention to early treatments for breast and liver cancer. As regular checkups have spurred in the United Kingdom, elastography imaging demand increased, creating prospects for key players in the sector.
The prevalence of several diseases related to the liver is rising in India. Hepatitis, liver cirrhosis, and several other diseases are expected to increase in patients, which is likely to augment the demand for effective diagnosis and treatment.
Medical clinics and healthcare facilities are expanding in rural and remote areas of the country. This improves diagnosis facilities in different areas of the country, elevating the reach of the sector.
Due to the increasing awareness, early diagnosis is preferred, which drives the demand for such techniques and therapies. Owing to such key drivers, the elastography imaging ecosystem in India is likely to progress at a CAGR of 12.7% through the forecast period.
Owing to the growing prevalence of cardiovascular disorders, the demand for a robust diagnosis technique is expected to grow. Coupled with the demand for a minimally invasive therapy, medical professionals as well as patients are inclined toward shear-wave elastography techniques. The demand for such methods in the cardiology segment is also expected to elevate due to such factors.
| Category | Technique - Shear-wave Elastography |
|---|---|
| Industry Share in 2024 | 28.6% |
The use of ultrasound therapy in shear-wave elastography helps medical experts get rid of invasive therapies. Tissue stiffness and the infected area can be better inspected, suggesting better therapies to cure the infected organ.
The growing demand for minimally invasive treatments is an indicator of the rise in preference for such techniques. The ability of this technique to deliver real-time and accurate data increases the popularity of the segment.
| Category | Application - Cardiology |
|---|---|
| Industry Share in 2024 | 25.5% |
With the rising prevalence of cardiological disorders, the demand for efficient and accurate diagnosis is expected to propel. The growing awareness regarding individual health is raising the number of patients visiting for checkups. The said factor fuels the demand for cardiology applications.
Myocardial stiffness is detected better with the help of elastography imaging techniques. This aids early detection of cardiovascular and cardiological diseases among patients. As a result, the factor is likely to drive the popularity of this segment.
The presence of various large-scale organizations hinders the entry of emerging players. To mitigate this opposing force, new entrants can employ strategies like product innovation, differentiation, alliance formation, and many more.
Key players in the competitive landscape, on the other hand, expand globally by using several strategies, including collaborations, partnerships, acquisitions, and mergers. The elastography imaging market is being driven due to various key recent developments.
Ultrasound Elastography Imaging, 1D Transient Elastography, Point Shear-wave Elastography, Shear-wave Elastography, and MR-Based Elastography are some key techniques used in the ecosystem.
Based on applications, the sector can be segmented into Gynecology and Obstetric, Cardiology, Orthopedic and Musculoskeletal, Vascular, Neurology, and General Imaging.
Based on elastography, the sector can be categorized into Portable and On-platform.
Hospitals, Clinics, Diagnostic Laboratories, and Ambulatory Surgical Centers are some key end-users in the landscape.
North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and The Middle East and Africa are the key contributing regions to the industry.
The elastography imaging market is set to advance at a CAGR of 10.5% through 2034.
The industry is likely to reach USD 10,426.4 million by 2034.
The ecosystem is set to reach USD 3,841.6 million in 2024.
The shear-wave elastography is likely to hold 28.6% of the industry share in 2024.
The elastography imaging market in the United States is likely to progress at a CAGR of 3.1% through 2034.
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