Global Transient Elastography Devices Market, by Modality (Standalone and Portable), By Technique (Vibration Controlled Transient Elastography (VCTE) and Controlled Attenuation Parameter), By End User (Hospitals, Diagnostic Centers, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 83.2 million in 2021 and is expected to exhibit a CAGR of 3.5% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Global Transient Elastography Devices Market- Impact of Coronavirus (COVID-19) Pandemic
Lockdown in various countries due to the pandemic has placed an economic burden on the private healthcare sector. The coronavirus (COVID-19) pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors. The private healthcare sector is one of the sectors, which has been majorly impacted by the COVID-19 pandemic. The lockdown in various countries due to the COVID-19 pandemic has created an economic burden on the private healthcare sectors.
The patients of liver diseases are expected to receive extra care during the COVID-19 pandemic because the COVID-19 patients were reported with comorbid conditions related to liver issues. In June 2021, Virology Journal reported the manifestations of liver injury was in as many as half of persons infected with COVID-19 in. The list of potential contributors to hepatic injury in patients exposed to COVID-19 infection include not only the virus, but systemic illness and the ischemic, immune-mediated, and drug- and alcohol-induced iterations of liver injury. As a result of the COVID-19 pandemic, primary care visits have decreased substantially, and non-urgent and elective procedures are delayed.
Liver transplantation, which is a treatment option for severe cases of liver diseases such as liver cirrhosis, nonalcoholic steatohepatitis (NASH), liver cancer, and others, were suspended during the COVID-19 pandemic, except for extremely urgent cases. This was done due to the surge in hospital admissions, ICU bed shortage, and organ procurement restrictions implemented by the organ donation authority during the pandemic. The pediatric liver transplant program has however continued at reduced capacity throughout the pandemic, since SARS-CoV-2 was less prevalent in the pediatric population, and there was adequate ICU capacity in all over the world, and therefore a lower risk of nosocomial infection.
Thus, impact of the coronavirus (COVID-19) pandemic is expected to limit growth of the global transient elastography devices market during the forecast period.
The increasing number of patients suffering from viral Hepatitis is expected to lead the use of transient elastography devices for treatment, which will thus drive the growth of the global transient elastography devices market during the forecast period. For instance, according to the British Liver Trust, 180,000 people are estimated to be chronically infected with the hepatitis B virus in United Kingdom in 2017, while around 143,000 people were infected with hepatitis C virus in the U.K. in 2017.
High prevalence of chronic liver disease is expected to provide huge opportunities to the global transient elastography devices growth in the near future. For instance, according to an article published in the BMJ Journals, in March 2020, around 200,000 deaths occur each year in the sub-Saharan Africa (sSA) region due to liver cirrhosis and hepatocellular carcinoma.
The increasing number of patients for non-alcoholic related fatty liver disease (NAFLD) is also expected to drive the global transient elastography devices market growth. For instance, according to the British Liver Trust, 1 in 3 person has early-stage non-alcohol related fatty liver disease (NAFLD) and nearly 5% of adults in the U.K. have nonalcoholic steatohepatitis (NASH), which is an advanced form of non-alcohol related fatty liver disease (NAFLD).
Increasing number of liver cirrhosis cases is also expected to drive the segment growth over the forecast period. For instance, according to an article published in the Springer Nature, in March 2021, the global incidence of liver cirrhosis caused by nonalcoholic steatohepatitis (NASH) increased from 178,430 cases in 1990 to 367,780 cases in 2017.
Browse 111 Market Data Tables and 30 Figures spread through 262 pages and in-depth TOC on Global Transient Elastography Devices Market, by Modality (Standalone and Portable), By Technique (Vibration Controlled Transient Elastography (VCTE) and Controlled Attenuation Parameter), By End User (Hospitals, Diagnostic Centers, and Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Forecast to 2028
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https://www.coherentmarketinsights.com/market-insight/transient-elastography-devices-market-4541
The increasing number of prevalence of chronic liver diseases is expected to drive the growth of global transient elastography devices market. For instance, according to an article ‘Nonalcoholic fatty liver disease burden – Saudi Arabia and United Arab Emirates, 2017–2030’, published in the Saudi Journal of Gastroenterology, in 2018, nonalcoholic fatty liver disease (NAFLD) and nonalcoholic steatohepatitis (NASH) are the two rapidly growing liver diseases, which are expected to increase the liver disease burden in the coming years in Saudi Arabia and United Arab Emirates (UAE).
Key Takeaways of the Global Transient Elastography Devices Market:
- The global transient elastography devices market is expected to exhibit a CAGR of 3.5% during the forecast period (2021-2028), owing to the increasing number of non-alcoholic fatty liver disease patients, this is expected to propel growth of the market during the forecast period. For instance, according to the American Liver Foundation, approximately 30% and 5% of the U.S population were suffering from nonalcoholic fatty liver disease (NAFL) and nonalcoholic steatohepatitis respectively in 2016. According to the same source, around 100 million people in the U.S. were estimated to have nonalcoholic fatty liver disease in 2017.
- Among modality segment, Standalone transient elastography devices are used to diagnose liver diseases. Hence, the rising incidence of liver diseases is expected to drive the segment growth over the forecast period, For instance, in 2018, according to the National Health Interview Survey, 2018, conducted by the National Center for Health Statistics, around 4.5 million people in the U.S are diagnosed with liver disease.
- Major players operating in global transient elastography devices market are Echosens, HISKY Medical Technologies Co., Ltd. and SMEDA Medical Co., Ltd.
