January 27, 2021
According to the research report titled ‘Global Transient Elastography Devices Market Size study By Type (VCTE-Vibration Controlled Transient Elastographies, CAP-Controlled Attenuation Parameters) by Application (Hospitals, Clinics, others) and Regional Forecasts 2020-2027‘, available with Market Study Report LLC, global transient elastography devices market is poised to accrue significant gains during 2020-2027.
Sedentary lifestyles and high alcohol consumption leading to surge in the incidences of liver disorders, such as cirrhosis and fibrosis, is a major factor driving the growth of global transient elastography devices market. As per the Centers for Disease Control and Prevention (CDC), in 2017, the United States reported around 22,246 deaths due to liver diseases caused by excessive alcohol consumption, and the number is projected to reach 1,128,400 by 2040.
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For the unversed, transient elastography is a non-invasive method of assessing the stiffness of liver tissues, which further analyzes the existence of liver disease and its stage of development. It provides a quantitative one-dimensional portrayal of tissue stiffness, which helps in diagnosis and treatment.
Improved cognizance and inclination towards accurate diagnosis at an early stage is boosting the demand for transient elastography devices. However, high cost associated with the device and diagnosis procedure may hamper the global transient elastography devices market outlook over the forecast period.
In terms of type, worldwide transient elastography devices industry is bifurcated into CAP (controlled attenuation parameter), and VCTE (vibration controlled transient elastographies). Considering the application scope, the market is divided into clinics, hospitals, and others.
From a regional frame of reference, global transient elastography devices industry is segmented into Europe, Asia Pacific, North America, Latin America, and rest of the world. Europe market is projected to record significant growth during the study period, mainly due presence of major players in the region. Also, increasing evaluation criteria of liver problems with the help of non-invasive techniques will positively sway the market dynamics.
Whereas, Asia Pacific transient elastography devices market size is anticipated to expand rapidly through 2027, owing to fast development in healthcare equipment sector, and rising research activities in the region. Further, enhancements in medical facilities, especially in countries like China, Japan, and India, is fueling the product demand.
Major players operating in global transient elastography devices industry sphere include Echosens, Sandhill Scientific, Inc., Diversatek, Inc., and FibroScan (by Echosens).