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The Global Transient Elastography Devices Market Growth Accelerated By Rising Prevalence Of Liver Diseases

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Dhanesha Patil
The Global Transient Elastography Devices Market Growth Accelerated By Rising Prevalence Of Liver Diseases

Transient elastography devices are medical devices that enable non-invasive measurement of liver stiffness and the detection of liver fibrosis and cirrhosis. These devices provide a painless evaluation of liver elasticity or fibrosis and help determine the stage of fibrosis to assess disease progression or treatment response. They offer advantages such as enhanced accuracy, reproducibility, and speed compared to invasive methods.


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 1.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:

The rising prevalence of liver diseases such as hepatitis, fatty liver disease, and others is expected to increase the demand for transient elastography devices during the forecast period. As per estimations by the World Health Organization (WHO), globally around 257 million people suffered from hepatitis B virus (HBV) infection in 2020. Factors such as the growing obese population and increasing alcohol consumption are major contributors to the increasing cases of fatty liver disease and other chronic liver conditions. This growing incidence of liver diseases is anticipated to propel the transient elastography devices market growth over the forecast period.


Segment Analysis


The Global Transient Elastography Devices Market Analysis is dominated by the hardware component segment. This is majorly due to the high cost associated with the hardware components such as ultrasound probes and ultrasound scanners used in transient elastography devices. The software segment is expected to witness the highest growth during the forecast period. This is attributed to the growing development of artificial intelligence-powered software for transient elastography devices.


Key Takeaways


The global transient elastography devices market is expected to witness high growth during the forecast period of 2023 to 2030. Driven by the increasing prevalence of chronic liver diseases, growing geriatric population, and the rising application of transient elastography in assessing liver fibrosis, the market is projected to provide numerous opportunities for players. 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 1.9% over the forecast period 2023 to 2030.


Regional analysis


The Asia Pacific region is expected to dominate the global transient elastography devices market during the forecast period. This is due to the rising healthcare expenditure, presence of a large patient pool, and growing awareness regarding chronic liver diseases in countries such as China and India.


Key players


Key players operating in the transient elastography devices market are Echosens, HISKY Medical Technologies Co., Ltd. and SMEDA Medical Co., Ltd. Echosens holds the leading market share owing to its diversified product portfolio and strong global presence. HISKY Medical Technologies is a prominent player in the China market.

Get more insights on this topic: https://www.trendingwebwire.com/transient-elastography-devices-market-size-and-share-analysis-growth-trends-and-forecasts/

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Dhanesha Patil
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