Transient elastography devices are ultrasound based medical devices that help diagnose and monitor liver diseases by measuring liver stiffness through the organ’s response to mechanical vibration. They offer a non-invasive alternative to biopsy for diseases like hepatisis and fatty liver disease. The ability to safely monitor disease progression and response to treatment without invasive tests has increased adoption of transient elastography devices.
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:
According to the WHO, viral hepatitis affected approximately 325 million people globally in 2020. As transient elastography enables early and non-invasive detection of liver fibrosis, it helps physicians commence timely treatment interventions. This has resulted in a growing preference for transient elastography over conventional biopsy methods, especially for repeated long-term disease monitoring. Product innovations targeted at portability and ease-of-use have also expanded the scope of transient elastography in ambulatory and outpatient care settings.
The global transient elastography devices market is dominated by the fibrosis assessment sub segment. Transient elastography is considered as the gold standard for non-invasive fibrosis assessment in patients with chronic liver diseases. Currently, FibroScan by Echosens holds the largest share of the fibrosis assessment sub segment due to its proven diagnostic performance and widespread availability.
The Global Transient Elastography Devices Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to grow at a CAGR of 1.9% during the forecast timeline. By 2030, the market size is estimated to reach US$ 98.98 Mn.
Europe currently dominates the global market. The major factors contributing to the large share of Europe include the increasing prevalence of chronic liver diseases, rising adoption of non-invasive fibrosis assessment procedures, and favourable reimbursement policies. Asia Pacific is anticipated to register the highest growth rate during the forecast period owing to growing health awareness, developing healthcare infrastructure and rising disposable incomes in several emerging nations.
Key players operating in the transient elastography devices market are Echosens, HISKY Medical Technologies Co., Ltd., and SMEDA Medical Co., Ltd. Echosens holds the largest market share with its flagship product FibroScan. HISKY and SMEDA have a comparatively smaller market presence focused in Asia Pacific markets. All leading players are focusing on new product launches and geographical expansion to strengthen their position in the highly competitive transient elastography devices market.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it