The transient elastography devices market has seen steady gains in recent years owing to the growing need for non-invasive diagnosis of liver diseases. Transient elastography devices help assess liver stiffness in a quick, painless manner to diagnose conditions such as fibrosis, cirrhosis and hepatitis through a painless and non-invasive procedure. With rising alcohol consumption and hepatitis infections leading to an increase in liver diseases globally, transient elastography devices provide physicians an effective screening option to catch these conditions early when treatment options are most effective.
The global Transient Elastography Devices Market is estimated to be valued at US$ 89.13 Mn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing adoption of transient elastography for routine liver disease screening and diagnosis has propelled the market growth of transient elastography devices. These devices enable rapid, repeatable and reproducible measurements of liver stiffness to help clinicians detect liver abnormalities. Unlike conventional biopsy methods which are invasive and carries risks, transient elastography provides a safe and cost-effective alternative to liver biopsy for liver disease diagnosis and staging of fibrosis. This has resulted in wider acceptance of transient elastography procedures for evaluating liver conditions, thereby driving the demand for transient elastography devices.
Strength: Transient elastography devices provide a quick, non-invasive and painless method for evaluating liver stiffness and diagnosing liver diseases such as fibrosis and cirrhosis. This improves patient compliance for diagnosis.
Weakness: Transient elastography devices require highly trained healthcare professionals to operate them and interpret results. This increases costs. The procedures also have limitations and sometimes are unable to reliably measure liver stiffness.
Opportunity: Rising prevalence of chronic liver diseases globally is driving the need for effective diagnostic solutions. New product innovations targeted towards improving accuracy and reliability will create growth opportunities.
Threats: Alternative diagnostic methods like magnetic resonance elastography (MRE) are evolving rapidly and posing competition. Economic slowdowns can impact healthcare budgets and purchasing decisions of hospitals and diagnostic centers.
The Global Transient Elastography Devices Market Demand is expected to witness high growth over the forecast period owing to increased liver disease burden worldwide. The global Transient Elastography Devices Market is estimated to be valued at US$ 89.13 Mn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030.
Asia Pacific transient elastography devices market is growing at the fastest rate led by countries like China, India, Japan and South Korea. This can be attributed to increasing healthcare spending, large patient population and rapid development of healthcare facilities in these countries. Players are focused on expanding product availability across Asia to capitalize on opportunities.
Key players operating in the transient elastography devices market are Echosens, HISKY Medical Technologies Co., Ltd. and SMEDA Medical Co., Ltd. Echosens is a dominant player with wide portfolio of elastography solutions. Meanwhile SMEDA Medical has strong presence in developing Asian markets for liver diagnostic equipment. Companies are investing in R&D to develop advanced technologies for better patient outcomes. Partnerships with regional healthcare providers are also supported market access.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it