Asia-Pacific Brain MRI Scan Market, By Scanner Type (Low Field Strength (<1.5t MRI), Mid Field Strength (1.5t MRI to 3.0t MRI and High Field Strength (4t and Above)), Machine Type (Open MRI Machine, Closed MRI Machine and Standing or Sitting MRI Machine.), Brain Disorder Type (Brain Tumor, Dementia, Alzheimer’s Disease, Parkinson’s Disease, Epilepsy and Seizure, Stroke, Multiple Sclerosis, and Others), End User (Hospitals, Imaging and Diagnostic Centers, Ambulatory Surgery Centers, and Others) Distribution Channel (Direct Tender, Retail Sales), Country (China, India, Japan, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines & Rest of Asia-Pacific) Industry Trends and Forecast to 2029.
Market Analysis and Insights: Asia-Pacific Brain MRI Scan Market
The brain MRI scan is a rare neurological disorder in which a child's brain develops improperly during pregnancy. It develops due to the failure in neuronal migration that occurs between 12 and 24 weeks of gestation, resulting in the absence of normal brain gyri and sulci development. Gastrostomy tube is inserted in children's stomach suffering from feeding and swallowing difficulties. According to research, it can be caused by a malfunction of multiple genes. The majority of these gene alterations are not always inherited from one's parents. When there is no family history of the illness, they can appear at random in a person's genetic makeup.
Asia-Pacific brain MRI scan is supportive and aims to reduce the severity of the symptoms. Data Bridge Market Research analyses that the Asia-Pacific brain MRI scan market will grow at a CAGR of 5.6% during the forecast period of 2022 to 2029.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Pricing in USD
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Segments Covered
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By Scanner Type (Low Field Strength (<1.5t MRI), Mid Field Strength (1.5t MRI to 3.0t MRI and High Field Strength (4t and Above)), Machine Type (Open MRI Machine, Closed MRI Machine and Standing or Sitting MRI Machine.), Brain Disorder Type (Brain Tumor, Dementia, Alzheimer’s Disease, Parkinson’s Disease, Epilepsy and Seizure, Stroke, Multiple Sclerosis, and Others), End User (Hospitals, Imaging and Diagnostic Centers, Ambulatory Surgery Centers, and Others) Distribution Channel (Direct Tender, Retail Sales)
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Countries Covered
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China, India, Japan, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines & Rest of Asia-Pacific
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Market Players Covered
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Koninklijke Philips N.V. Voxelgrids, General Electric Company, Time Medical Holding., FUJIFILM Holdings America Corporation, Siemens Healthcare GmbH, CANON MEDICAL SYSTEMS CORPORATION, ESAOTE SPA, Beijing Wandong Medical Technology Co.,Ltd., Shenzhen Anke High-tech Co, Ltd., StemLab, Inc.,UNITED IMAGING, BASDA, Neusoft Corporation, MinFound Medical Systems Co., Elekta AB, Bruker, Aspect Imaging Ltd., Medonica Co. LTD among others
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Asia-Pacific Brain MRI Scan Market Dynamics
Drivers
- Rise incidence of Alzheimer’s in China, suffering from dementia
The rise in patient population, in China would increase the use and availability of the MRI scan instruments in imaging and diagnostic center and hence act as a major driver that will result in the expansion of the growth rate of the market.
- Awareness among population about the treatment and use of brain scan MRI devices
Another significant factor influencing the growth rate of the Asia-Pacific brain MRI scan market is to instill awareness about the timely treatment for neurological disorders, which will boost the use of brain MRI scan instruments
- Favorable reimbursement policies
Also, the increase in the growth, are the favourable reimbursement policies being implemented, which will further enhance the growth of the Asia-Pacific brain MRI scan market.
Furthermore, advancement in medical technology, rising initiatives by public and private organizations to spread awareness and growing government funding are the factors that will expand the rain MRI scan market. Other factors such as increase in the demand for effective therapies and rising awareness about the timely diagnosis and will positively impact the Asia-Pacific brain MRI scan market's growth rate. Additionally, high disposable income, rising number of cases of seizures and changing lifestyle will result in the expansion of the Asia-Pacific brain MRI scan market.
Opportunities
- The rise in healthcare expenditure
Moreover, the rise in the research and development activities and increasing investments by government and private organization will boost new opportunities for the market's growth rate.
For instance,
- According to the data by Eurostat, in 2019, the healthcare expenditure was highest in France and Germany. Among the EU Member States, Germany (11.7 %) and France (11.1 %) had the highest healthcare expenditure relative to GDP in 2019
Also, the launch of effective therapies and continuous clinical trials will provide beneficial opportunities for the Asia-Pacific brain MRI scan market in the forecast period of 2022-2029. Also, high unmet need of current and developments in healthcare technology will escalate the growth rate of the Asia-Pacific brain MRI scan market in future.
Restraints/Challenges
However, high cost associated with the available and lack of infrastructure in low-income countries will impede the growth rate of Asia-Pacific brain MRI scan market. Additionally, the risks incurred while using the MRI devices will hinder the Asia-Pacific brain MRI scan market growth. The lack of cure for this neurological condition and less awareness about genetic and rare diseases will further challenge the market in the forecast period mentioned above. The availability of alternate imaging diagnostic devices, would result in a decline in sales of the devices, surgery, consumables, and accessories in poor economy countries
The Asia-Pacific brain MRI scan market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Asia-Pacific brain MRI scan market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Patient Epidemiology Analysis
Asia-Pacific brain MRI scan is a brain disorder that is relatively uncommon and whose incidence is unknown. In 2019, the data by the Neuroscience Network in Australia stated that, the total prevalence for neurological disorders in 2017 accounted for 10.6 million people or 43 per cent of Australian population, followed by mental health disorders of 4 million people (16.3 %) and substance disorders of 0.8 million people (3.2%).
Asia-Pacific brain MRI scan market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
Covid-19 Impact on the Asia-Pacific Brain MRI Scan Market
The COVID-19 has negatively affected the market. Lockdowns and isolation during pandemics complicate the diagnosis management and treatment. The lack of access to health-care facilities for routine and medication administration will further affect the market.
However, the use of artificial intelligence, had improved the MRI scan market, backed by the European Union. The artificial intelligence MRI scanners are used to scan around 20,000 CT scans.
Recent Development
- In May 2021, GE Healthcare announced that AIR Recon DL, an ultra-high-field MRI and AI based company has received FDA 510(k) clearance on SIGNA 7.0T magnetic resonance imaging (MRI) scanners for diagnostic confidence with better image quality. This product approval will increase the revenue of company in the market
Asia-Pacific Brain MRI Scan Market Scope
Asia-Pacific brain MRI scan market is segmented on the basis of scanner type, machine type, brain disorder, end-users and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Scanner Type
- Low Field Strength (<1.5T MRI)
- Mid Field Strength (1.5T MRI to 3.0T MRI)
- High Field Strength (4T and above)
On the basis of scanner type, the Asia-Pacific brain MRI scan market is segmented into low field strength (<1.5T MRI), mid field strength (1.5T MRI to 3.0T MRI) and high field strength (4T and Above).
Machine Type
- Open MRI Machine
- Closed MRI Machine
- Standing or Sitting MRI Machine
On the basis of machine type, the Asia-Pacific brain MRI scan market is segmented into open MRI machine, closed MRI machine and standing or sitting MRI machine.
Brain Disorder
- Brain Tumor
- Dementia
- Alzheimer’s Disease
- Parkinson’s Disease
- Epilepsy and Seizure
- Stroke
- Multiple Sclerosis
- Others
On the basis of brain disorder, the Asia-Pacific brain MRI scan market is segmented into brain tumor, dementia, Alzheimer’s disease, Parkinson’s disease, epilepsy and seizure, stroke, multiple sclerosis, and others.
End User
- Hospitals
- Imaging and Diagnostic Centers
- Ambulatory Surgery Centers
- Others
On the basis of end user, the Asia-Pacific brain MRI scan market is segmented into hospitals, imaging and diagnostic centers, ambulatory surgery centers, and others
Distribution Channel
- Direct Tenders
- Retail Sales
On the basis of distribution channel, the Asia-Pacific brain MRI scan market is segmented into direct tenders, retail sales.
Pipeline Analysis (not provided)
Asia-Pacific Brain MRI Scan Market Country Analysis/Insights
Asia-Pacific brain MRI scan market is analysed and market size insights and trends are provided by country, scanner type, machine type, brain disorder, end-users and distribution channel, as referenced above.
The countries covered in the Asia-Pacific brain MRI scan market report are China, India, Japan, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines & Rest of Asia-Pacific.
Japan dominates the Asia-Pacific brain MRI scan market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the presence of major key players and well-developed healthcare infrastructure in this region and partnership with market players of the Asia-Pacific region for the supply and distribution of the MRI scan devices.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Brain MRI Scan Market Share Analysis
Asia-Pacific brain MRI scan market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the Asia-Pacific brain MRI scan market.
Some of the major players operating in the Asia-Pacific brain MRI scan market are Koninklijke Philips N.V. Voxelgrids, General Electric Company, Time Medical Holding., FUJIFILM Holdings America Corporation, Siemens Healthcare GmbH, CANON MEDICAL SYSTEMS CORPORATION, ESAOTE SPA, Beijing Wandong Medical Technology Co., Ltd., Shenzhen Anke High-tech Co, Ltd., StemLab, Inc., UNITED IMAGING, BASDA, Neusoft Corporation, MinFound Medical Systems Co., Elekta AB, Bruker, Aspect Imaging Ltd., Medonica Co. LTD among others.
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