Elastography imaging is a detailed diagnostic modality that is used in measuring tissue’s stiffness and elasticity for the purpose of diagnosing as well as managing different disease conditions based on the structural features of tissues. As a mechanical wave-based imaging method, elastography facilitates diagnosing tissue conditions without biopsy, especially for fibrosis, tumors, and musculoskeletal diseases. This technology entails techniques such as transient elastography and shear wave elastography, which are expanding on integration with real-time imaging, and artificial intelligence for improved diagnosing proficiency. Technological advancement in the trend of identifying diseases through non-invasive procedures and adopting patient-specific approaches, including disease diagnosis, has remained instrumental in the construction of elastography imaging across different practices.
The Elastography Imaging Market is expected to grow at a steady rate of around 10% owing to the rising company mergers and acquisitions. For instance, in July 2024, U.S.-based GE HealthCare agreed to acquire Intelligent Ultrasound Group PLC’s clinical artificial intelligence (AI) software business. GE Healthcare plans to incorporate these solutions across the ultrasound portfolio, strengthening its capabilities with technology that helps improve workflows and enhance ease of use for the benefit of clinicians and patients. Other factors, including the rising chronic disorders, increasing preference for minimally invasive diagnostic procedures, and strategic partnerships between companies, drive the market's growth during the forecast period. Apart from this, improving the affordability and accessibility of elastography imaging are also driving this market steadily.
Based on the technique, the market is segmented into ultrasound elastography, magnetic resonance elastography, and others. The ultrasound elastography segment dominated the market in the year 2023 driven by its non-invasive nature, cost-effectiveness, and versatility in assessing a wide range of medical conditions. In this segment, the technology used is based on ultrasound for quantification of tissue hardness which is vital in the assessment of liver fibrosis, breast tissues, and disorders of the musculoskeletal system. New developments include improvement in resolution and real-time analysis of ultrasound elastography as these improvements promote high accuracy and broad utilization in clinical diagnosis. The expansion of the segment is supplemented by growing healthcare concerns on diagnostics, the prevalence of chronic diseases, along with the need for diverse affordable imaging solutions. Therefore, ultrasound elastography can be applied for ordinary and specific diagnostic tasks being in high demand in modern medicine.
Based on modality, the market is bifurcated into portable and stationary. The portable segment is expected to grow significantly in the forecast period. The portable type of elastography imaging is experiencing great demand in the market because of its versatility, easy access, and applicability across various areas of clinical practice and patient requirements. Hand-held elastography integrated with portable ultrasound devices has the advantage of point-of-need imaging and assessment which may suit rural and remote areas, emergency departments, and some other point-of-care settings. The development of these devices to provide good image resolution and stiffness measurements while remaining portable and easy to use is due to the availability of technology. The portable segment is expected to grow due to the growing number of people requiring health care services on the go, the need for fast testing results, and the expansion of the scope of medical services. It is attributed to an ongoing shift towards improving the access and effectiveness of diagnosing and treating diseases with the aid of new and flexible technologies. Thus, the portable segment is expected to grow significantly in the forecast period among the modality.
Based on the application, the market is segmented into cardiology, radiology, urology, vascular, obstetrics, and others. The cardiology segment dominated the market in the year 2023. In the elastography imaging market, the cardiology segment has seen significant growth as it offers an innovative solution for evaluating and treating cardiovascular diseases non-invasively. Elastography methods are gradually implemented in sites of cardiological practice in order to assess the parameters of myocardial hardness and fibrosis which are essential for diagnostics as well as the monitoring of pathologies, for example, heart failure, hypertrophic cardiomyopathy, and myocardial infarction. Development and progress in the availability of high-resolution and real-time elastography are enabling better diagnostics of cardiac conditions at an early stage. Segment growth is driven by the increasing incidence of cardiovascular diseases, the need to develop more effective technologies for diagnosing these diseases, and the transition from cardiologic practice to individualized approaches. Elastography leverages technology to determine mechanical properties of the tissue, such as elasticity, and this development underlines the increasing use of elastography in enhancing patients’ cardiac care delivery. Thus, the cardiology segment held a significant market share in 2023 among the applications.
For a better understanding of the market adoption of elastography imaging, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is expected to grow at a significant rate in the forecast period due to new product launches, rising company expansions with mergers & acquisitions, rising preference for non-invasive diagnostic procedures, an increasing number of clinical studies, and a rise in chronic disorders. For instance, U.S.-based Emory University initiated a clinical trial to utilize Shear Wave Elastography (SWE) to study the viscoelastic properties of tendons to understand the functional differences between normal/asymptomatic and symptomatic tendon states, which is expected to be completed by 2025. Other factors, such as the improvement in affordability and accessibility of elastography imaging, have pushed the region's market growth. Thus, amongst areas, North America is expected to grow at a significant rate in the forecast period.
Some of the major players operating in the market include CANON MEDICAL SYSTEMS CORPORATION; Esaote SPA; FUJIFILM Corporation; GE HealthCare; Hologic, Inc.; Koninklijke Philips N.V.; Mindray DS USA, Inc.; Resoundant, Inc.; SAMSUNGHEALTHCARE.COM; Siemens Healthcare Private Limited.
1 MARKET INTRODUCTION
1.1. Market Definitions
1.2. Main Objective
1.3. Stakeholders
1.4. Limitation
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Process of the Elastography Imaging Market
2.2. Research Methodology of the Elastography Imaging Market
2.3. Respondent Profile
3 EXECUTIVE SUMMARY
3.1. Industry Synopsis
3.2. Segmental Outlook
3.2.1. Market Growth Intensity
3.3. Regional Outlook
4 MARKET DYNAMICS
4.1. Drivers
4.2. Opportunity
4.3. Restraints
4.4. Trends
4.5. PESTEL Analysis
4.6. Demand Side Analysis
4.7. Supply Side Analysis
4.7.1. Merger & Acquisition
4.7.2. Investment Scenario
4.7.3. Industry Insights: Leading Startups and Their Unique Strategies
5 PRICING ANALYSIS
5.1. Regional Pricing Analysis
5.2. Price Influencing Factors
6 GLOBAL ELASTOGRAPHY IMAGING MARKET REVENUE (USD BN), 2022-2032F