Global Elastography Imaging Market is Expected to Grow at a CAGR of 7.8% During the Forecast Period 2020-2027
A new research report published by Fior Markets with the title Elastography Imaging Market By Product Type (Ultrasound And Magnet Resonance Imaging [MRI]), Applications (Radiology, Cardiology, Vascular, Urology, Obstetrics, Orthopaedic And Musculoskeletal, And Others), End-User Application (Hospitals, Ambulatory Surgery Centers And Others), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, And Forecast 2020 To 2027.
The global elastography imaging market is expected to grow from USD 2.04 billion in 2019 to USD 3.73 billion by 2027, at a CAGR of 7.8% during the forecast period 2020-2027. North America accounts for the largest market share of the elastography imaging market, owing to the increasing chronic diseases and cancer cases, developed healthcare infrastructure, favourable government policies, and emerging numbers of geriatric population. Asia-Pacific is the market with the highest growth potential owing to the factors such as the high prevalence of cancer and chronic diseases, increasing trend in adoption of advanced research facilities, and growing geriatric population.
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Key players of this industry are Siemens Healthineers, Philips Healthcare, GE Healthcare, Samsung Medison, Hitachi, Canon Medical System, Shenzhen Mindray Bio-Medical Electronics, Esaote, SuperSonic Imagine, FUJIFILM Holdings, Toshiba America Medical Systems, and Resoundant. Companies are collaborating and partnering as a strategic move to increase their customer base and improve technology.
Philips Healthcare collaborated with Erasmus University Medical Center (Netherlands) and partnered with PathAI (based in US) to expand its presence in different geographies across the globe.
The global elastography imaging market is segmented into product type, applications, end-user, and regions. By product type, it is segmented into ultrasound elastography imaging and magnet resonance imaging (MRI). The ultrasound elastography imaging accounts for the largest market share in this segment because it is low cost, widely available and has quick procedures. Based on the applications, this market is segmented into radiology, cardiology, vascular, urology, obstetrics, orthopaedic and musculoskeletal, and others. The radiology dominates this segment; it comprises of cancer diagnosis and treatment, abdominal ailments, and injuries of soft tissue, increasing cases of breast cancer is fuelling the growth of this market. By end-user, this market is divided into hospitals, ambulatory surgery centers and others. This segment is dominated by hospitals owing to increasing number of MRI and ultrasound-based elastography surgeries. Also increasing number of cancer cases are expected to contribute towards the growth of the segment.
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- CDN Newswire