Transient elastography devices are medical devices that are used to stage liver fibrosis and diagnose liver disease through a painless and non-invasive examination based on vibration-controlled transient elastography technique. Some key uses of transient elastography devices include measurement of liver stiffness, investigation of the progression of liver fibrosis, and assessment of non-alcoholic fatty liver disease, viral hepatitis, and other chronic liver conditions. The global transient elastography devices market involves manufacture and sales of various devices such as FibroScan, FibroTouch, and ElastPQ among others.

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 Dynamics
Rising prevalence of chronic liver disease cases is expected to be a major driver for the growth of transient elastography devices market over the forecast period. According to the National Institutes of Health, prevalence of non-alcoholic fatty liver disease in the United States is approximately 25% and is strongly associated with obesity and diabetes. Increasing obesity rates globally has led to surge in fatty liver cases which in turn is driving the need for non-invasive diagnosis of liver disease through transient elastography devices. Furthermore, advantages of transient elastography devices over conventional liver biopsy procedures such as being painless, rapid, and reproducible is further fueling the market growth.

Segment Analysis
The global transient elastography devices market is dominated by the fibrosis detection sub-segment. Fibrosis detection devices account for over 70% share of the overall market as they help physicians in detecting the level of fibrosis in the liver. These devices are widely used in hospitals and diagnostic centers for evaluating the progression of chronic liver diseases like hepatitis B, hepatitis C and others. The fibrosis detection segment is expected to remain the dominating sub-segment during the forecast period due to high demand for non-invasive liver fibrosis tests.

PEST Analysis
Political: Transient elastography devices market is impacted by regulations and reimbursement policies set by regulatory bodies. Changes in the regulatory framework can influence the adoption of these devices.
Economic: Rising healthcare expenditure in developing countries is a positive factor for market growth. However, high costs associated with advanced elastography systems can hamper their adoption in price sensitive markets.
Social: Growing awareness regarding liver disorders and advantages of non-invasive fibrosis assessment over conventional liver biopsy is driving the demand for transient elastography devices.
Technological: Introduction of portable elastography systems and incorporation of AI technology in newer devices is expanding their application in out-patient settings and diagnostics centers.

Key Takeaways
The Global Transient Elastography Devices Market Size is expected to witness high growth during the forecast period driven by increasing prevalence of lifestyle-related chronic liver diseases. As per epidemiological research, the prevalence of liver disease is rising rapidly across developing regions due to growing consumption of junk food and alcohol. This factor is creating significant demand for non-invasive fibrosis assessment devices like transient elastography. 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
North America is currently the dominant regional market for transient elastography devices owing to technological advancements, developed healthcare infrastructure and rising cases of Non-Alcoholic Fatty Liver Disease (NAFLD). Asia Pacific region is anticipated to witness fastest growth over the forecast period supported by growing healthcare spending, large patient pool and increasing awareness regarding chronic liver disorders in countries like India and China.

Key players
Key players operating in the transient elastography devices market are Echosens, HISKY Medical Technologies Co., Ltd. and SMEDA Medical Co., Ltd. Echosens offers FibroScan, the most widely used and researched transient elastography technology for liver fibrosis assessment. HISKY Medical Technologies Co., Ltd. provides HG series of transient elastography systems across Asia Pacific region. SMEDA Medical Co., Ltd. manufactures FibroTouch, a portable transient elastography device approved for clinical diagnosis of liver fibrosis.

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