"Designing Growth Strategies is in our DNA"
Elastography is defined as an imaging technique which is widely used to detect hardness and softness of the tissue similar to MRI and ultrasound. Furthermore, transient elastography is defined as the procedure that uses the non-invasive technique consisting of ultrasound coupled with low-frequency elastic waves to diagnose liver fibrosis. Where liver fibrosis means stiffening of liver further leading to the occurrence of hepatitis and cirrhosis. Fibroscan is the device that is used in the clinical management of patients suffering from liver diseases such as hepatitis B and C, and fatty liver disorders. Moreover, this technology involves the acquirement of pulse-echo ultrasound signals to calculate liver stiffness. The technology consists of three major key parts that helps in easy functioning of the procedure which includes a transducer that helps in generation of ultrasonic waves and ultrasonic receiver, a probe that deals with emitting of low-frequency vibration on to transducer, and software that helps in analyzing and recording of the data. During this procedure, the tip of an ultrasound transducer is placed between the ribs and right lobe of the liver. The principle used behind the transient elastography devices is providing of one-dimensional image of the tissue for measuring of share wave velocity. The measured volume by the transient elastography is 100 times more accurate than the same provided by biopsy procedure.
Key Market Driver -
Rise in incidence rate related to liver disorders
Key Market Restraint -
High cost of the technology
The major factors driving of the market are a rise in incidence related to liver disorders, a rise in sedentary life, an increase in consumption of alcohol, a rise in smoking, consumption of unhealthy diet, and others. Additionally, all these factors are influencing the rise of prevalence associated with diseases like liver cirrhosis and fibrosis which is also triggering the growth of the market during the forecast period. Furthermore, it is highly used in the detection of patients suffering with liver diseases especially nonalcoholic fatty liver disorders where biopsy procedure gets complex to be performed which is also positively influencing the growth of the market in the near future. Along with this, owing to technological advancement by manufacturers to expand their market share by offering a wider range of product portfolio is also boosting the growth of the market during the course of the period. The two techniques that are propelling the market growth are VCTE and CAP where VCTE helps in generation of quantitative calculations of liver parameters which include liver stiffness and CAP helps in measuring amplitude changes occurring in ultrasound. Thus, imaging techniques such as painless, non-invasive, fast diagnosis, independent result generation that can be used in non-traumatic liver fibrosis diagnosis, and to estimate the outcome anti-fibrosis treatment is also compelling the growth of the market during the forecast period.
However, a dearth of skilled professionals, lack of technology penetration, and high cost of the technology is hindering the market growth. Moreover, some of the technological drawbacks such as the transient elastography technique fail in the detection of intermediate stages that occur in fibrosis due to which the technique can only be used for the detection of extensive fibrosis and cirrhosis which is also restraining the market growth during the course of the period.
Globally, the transient elastography devices market is segmented on bases of technology, modality, distribution channel, and region. Based on the technology, the market is bifurcated into vibration controlled transient elastography and controlled attenuation parameter. Based on the modality, the market is segmented into standalone and portable. Based on the end users, the market is segmented into hospitals, diagnostic centers, and ambulatory surgical centers, and others.
Geographically, the transient elastography devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The major companies in the global the transient elastography devices market are Echosens™ , Sandhill Scientific Inc., Wuxi HISKY Medical Technologies Co., Ltd., Abbott, and others.
Geographically, the transient elastography devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is dominating the market owing to rise in liver disorders, increased sedentary lifestyle, huge investment in the healthcare industry, and the quick adoption of technology.
To gain extensive insights into the market, Request for Customization
Europe is the second-largest contributor to the market owing to an increase in health awareness, increased capita income expenditure, increased healthcare infrastructure. Asia Pacific is anticipated to experience vast growth in the market owing to rise in geriatric population, an increase in healthcare awareness, and an increase in government initiatives towards the healthcare sector, and an increase in the number of research activities. Latin America and Middle East are also anticipated to experience lucrative growth in the market.
By End Users
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry