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The Global Transient Elastography Devices Market Growth Accelerated By Increasing Healthcare Expenditure

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samruddhicmi12
The Global Transient Elastography Devices Market Growth Accelerated By Increasing Healthcare Expenditure

Transient elastography devices are medical devices used to quantitatively measure liver stiffness and detect liver diseases, such as fatty liver disease, cirrhosis, alcoholic liver disease and non-alcoholic steatohepatitis (NASH). These devices provides pain-free, quick and accurate results through whole-body vibro-acoustic radiation force impulse imaging technology, which reduces the need for invasive procedures such as liver biopsy.

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:

Increasing healthcare expenditure across developing nations is one of the major factors driving the growth of transient elastography devices market. According to the data by World Bank, total healthcare expenditure across middle and low income countries have increased from USD 1.1 trillion in 2015 to USD 1.4 trillion in 2019. This rise in expenditure has encouraged adoption of advanced medical technologies such as transient elastography devices for diagnosing and monitoring liver diseases. The higher spending on liver disease management is expected to propel the demand for transient elastography devices during the forecast period.

Segment Analysis

The global transient elastography devices market is segmented into equipment and accessories. The equipment segment is dominating and accounts for around 70% market share as of 2023. This segment witnesses higher demand due to repeat purchase of transients elastography equipment by diagnostic centers and hospitals on regular intervals. The accessories segment also contributes substantially and is expected to witness higher growth during forecast period owing to compatibility of accessories with existing equipment already been placed across healthcare facilities.

Key Takeaways

The Global Transient Elastography Devices Market Demand is expected to witness high growth during the forecast period of 2023-2030. The increasing burden of chronic liver diseases and rising awareness about early disease diagnosis is fueling the market growth.

Regional analysis

Asia Pacific region is growing at the fastest pace attributed to rising geriatric population, developing healthcare infrastructure, and initiatives by governments to spread awareness about disease diagnosis. China dominates the APAC transient elastography devices market owing to large patient pool and increasing expenditure on healthcare.

Key players

Key players operating in the transient elastography devices market are Echosens, HISKY Medical Technologies Co., Ltd. and SMEDA Medical Co., Ltd. Echosens leads the global market with its flagship product FibroScan and continuous technological innovations. HISKY Medical Technologies is expanding its product portfolio and targeting emerging markets to strengthen its position. SMEDA Medical focuses on accessories suitable for FibroScan to leverage the existing installed base of Echosens equipment.


For more insights, read- https://www.marketwebjournal.com/driven-by-increasing-prevalence-of-liver-diseases-share

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