The
transient elastography devices market has gained significant prominence over
the years, owing to its extensive applications in diagnosing various disorders
related to the liver such as non-alcoholic fatty liver disease (NAFLD),
hepatitis, and cirrhosis. Transient elastography utilizes ultrasound-induced
shear waves to measure the viscoelastic properties of tissues noninvasively.
This method allows the assessment of liver stiffness with the FibroScan device,
enabling a simple, rapid and non-invasive evaluation of liver fibrosis or
cirrhosis. It assists clinicians to identify patients who may require biopsy or
treatment by measuring the speed of the shear waves propagated in the liver.
The
Global transient elastography devices market is estimated to be valued at US$
102.68 KT in 2024 and is expected to exhibit a CAGR of 1.9% over the forecast
period from 2024 to 2031.
Key Takeaways:
Key players operating in the transient elastography devices market are
Echosens, HISKY Medical Technologies Co., Ltd. and SMEDA Medical Co., Ltd.
Transient elastography helps rule out cirrhosis without needing liver biopsy
and eliminates the risk and costs associated with it. The market is also likely
to witness growth due to rising awareness regarding chronic diseases like NAFLD
and hepatitis globally. The increasing prevalence of alcohol-related liver
diseases in developing regions presents significant expansion opportunities for
players in the
Transient
Elastography Devices Market Size . Manufacturers are focusing on
geographic expansion plans in regions with high incidence and increasing
healthcare expenditure like Asia Pacific and Latin America.
Market Drivers:
One of the major drivers augmenting the transient elastography devices market
growth is the rising prevalence of chronic liver diseases worldwide. According
to the World Health Organization (WHO), viral hepatitis affects over 325
million people globally resulting in 1.34 million deaths each year. In
addition, growing consumption of alcohol coupled with the increasing prevalence
of obesity and associated conditions like diabetes and NAFLD are further
fueling the demand for transient elastography procedures for an early and
non-invasive diagnosis of liver fibrosis. The ability of these devices to
accurately measure liver stiffness without the need for invasive biopsies is
encouraging their adoption in clinical settings.
PEST Analysis
Political: Changes in government regulations and healthcare policies could
impact demand for transient elastography devices. For example, favorable
reimbursement policies may boost adoption.
Economic: Economic fluctuations affecting disposable incomes and healthcare
spending can influence sales of these devices. During downturns, hospitals may
delay large capital expenditures.
Social: Growing awareness among patients about liver diseases and the benefits
of early detection may drive the use of transient elastography for diagnosis.
Aging populations also mean a higher risk of liver conditions.
Technological: Advancements in transient elastography technology allow for
improved accuracy, faster examinations and point-of-care applications. Portable
devices have enhanced accessibility in remote locations. Integration of
artificial intelligence aids automated interpretation of scans.
Geographical regions where market in terms of value is concentrated:
North America accounts for a major share, assisted by a large patient pool,
well-developed healthcare infrastructure and supportive insurance plans. Europe
also captures a substantial portion due to public health priorities around
liver diseases. Both regions have witnessed significant adoption of transient
elastography for chronic viral hepatitis and non-alcoholic fatty liver disease
screening.
Fastest growing region for the transient elastography devices market:
The Asia Pacific region is projected to expand at the fastest pace over the
forecast period. This can be attributed to growing alertness about liver
health, rising healthcare investments, expanding medical tourism and a huge
population base particularly in China and India. In addition, increasing
disposable incomes are enhancing access to quality care.
Get more insights on – Transient
Elastography Devices Market
About Author:
Money Singh
is a seasoned content writer with over four years of experience in the market
research sector. Her expertise spans various industries, including food and
beverages, biotechnology, chemical and materials, defense and aerospace,
consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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