The transient elastography devices market has been growing rapidly over the past decade due to the increasing prevalence of chronic liver diseases globally. Transient elastography devices provide non-invasive assessment of liver fibrosis and stiffness withoutopsy. These devices use transient ultrasound pulses to measure tissue elasticity which helps in diagnosis and disease progression monitoring of conditions like hepatitis, non-alcoholic steatohepatitis (NASH), and liver cirrhosis. Some of the key advantages of transient elastography devices include high reproducibility, painless procedure, lack of ionizing radiation exposure and ability to provide real-time results.

The global transient elastography devices market is estimated to be valued at US$ 102.68 KT in 2024 and is expected to exhibit a CAGR of 1.9% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the transient elastography devices market are Echosens, HISKY Medical Technologies Co., Ltd. and SMEDA Medical Co., Ltd. Echosens holds a major market share with its FibroScan product. These players are focusing on new product launches and geographic expansion to consolidate their market position.

The growing burden of chronic liver diseases globally is driving significant demand for Transient Elastography Devices Market Demand . According to the World Health Organization, nearly 1.03 million people die each year from hepatitis related complications indicating need for improved diagnosis.

Major players are also targeting emerging Asian and Latin American markets to tap the opportunities arising from increasing healthcare investments and demand in these regions. The Asia Pacific transient elastography devices market is projected to grow at highest CAGR during the forecast period.

Market Drivers

The increasing prevalence of obesity and sedentary lifestyles has led to a substantial rise in non-alcoholic fatty liver disease (NAFLD) and non-alcoholic steatohepatitis (NASH). According to a study, NAFLD currently affects 25% of the global population and is expected to become the leading cause of liver transplants. This growing burden of NAFLD/NASH is expected to drive the demand for accurate and non-invasive diagnostic tools like transient elastography devices.

The current geopolitical situation is impacting the growth of the transient elastography devices market. The ongoing geopolitical tensions and conflicts around the world have disrupted global supply chains. This has negatively affected the trading activities across borders and international commerce. The transient elastography device manufacturers are facing difficulties in procuring raw materials and key components from different countries smoothly. This is hampering their production volumes and capabilities to cater to the global demand. Moreover, the economic downturns and uncertainties caused by the geopolitical issues have reduced the healthcare spending of many countries. This is decreasing the demand for advanced medical devices like transient elastography in the short-run.

To sustain the market growth in such turbulent times, the transient elastography device companies need to diversify their supplier base globally. They must look for alternative sourcing options in different regions and countries to reduce dependencies on major suppliers. Developing local manufacturing facilities with regional partners can help establish resilient supply chains. The companies also need to focus on cost optimization through value engineering and enhance aftersales services to address budget constraints faced by hospitals and clinics. Targeting emerging markets through innovative business models will be another key strategy. Overall, establishing strong global partnerships and flexible operating frameworks will help device makers mitigate geopolitical risks in the long run.

In terms of value, the transient elastography devices market in Europe is currently the largest concentrated region globally. The high acceptance and increasing demand for non-invasive diagnosis of liver diseases have boosted the market growth in Europe. Asia Pacific is emerging as the fastest growing regional market for transient elastography devices. This is attributed to rising incidences of chronic liver ailments, increasing healthcare expenditures, growing medical tourism, and expanding vendor presence in countries like China, India and Japan.

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