Asia Pacific Magnetic Resonance Imaging Devices Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2024 –2031 |
 Market Size (Base Year) |
USD 3.67 Billion |
 Market Size (Forecast Year) |
USD 4.80 Billion |
 CAGR |
% |
| Major Markets Players |
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Asia-Pacific Magnetic Resonance Imaging Devices Market Segmentation, By Field Strength (High-Field MRI Systems, Mid-Field MRI Systems, Low-Field MRI Systems and Others), Type (Closed MRI Systems, Wide Bore MRI and Open MRI Systems), Modality (Stationary System, Portable/Mobile System and Point-of-Care (POC) System), Indication (Brain and Neurological, Musculoskeletal, Cardiology, Mammography, Oncology, Pelvic and Abdominal, Gynecology, Urology, Dental and Others), End-User (Hospitals, Diagnostic Centers, Imaging Centers, Specialty Clinics, Ambulatory Surgical Centers and Academic and Research Institutes), Distribution Channel (Direct Tender and Retail Sales) – Industry Trends and Forecast to 2031.
Magnetic Resonance Imaging Devices Market Analysis
According to the Australian Institute of Health and Welfare, around 459,000 Australians will be living with dementia by 2020, with nearly 1.6 million people requiring care. According to estimates, the number of persons with dementia is anticipated to rise to 1.1 million by 2058. The best tool for diagnostic imaging and neuroscience research is magnetic resonance imaging (MRI). It gives high-resolution morphological images with unrivaled soft tissue contrast and unique functional information about the central nervous system (CNS). Magnetic resonance imaging can also be used to diagnose abnormalities and monitor degenerative diseases like multiple sclerosis, Alzheimer's disease, and dementia and document brain injuries from trauma.
Asia-Pacific Magnetic Resonance Imaging Devices Market Size
Asia-Pacific magnetic resonance imaging devices market size was valued at USD 3.67 billion in 2023 and is projected to reach USD 4.80 billion by 2031, with a CAGR of 3.41% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes |
Magnetic Resonance Imaging Devices Key Market Insights |
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Segmentation |
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Countries Covered |
China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC) |
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Key Market Players |
Aspect Imaging Ltd. (U.S.), CANON MEDICAL SYSTEMS CORPORATION (Japan), Siemens Healthcare GmbH (Germany), GE Healthcare (U.S.), Hitachi, Ltd. (Japan), Koninklijke Philips N.V. (Netherlands), Neusoft Corporation (China), ESAOTE SPA (Italy), AllTech Medical Systems (China), Shanghai United Imaging Medical Technology Co., Ltd (China), United Imaging Intelligence (China), Medonica Co. LTD (China), IMRIS (U.S.), SG HealthCare (China), Elekta AB (Sweden), Beijing Wandong Medical Technology Co.,Ltd, (China), FONAR Corp. (U.S.), Synaptive Medical (Canada) |
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Market Opportunities |
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Magnetic Resonance Imaging Devices Market Definition
Magnetic Resonance Imaging Devices machines use procedures that are primarily used in radiology to take photographs of physiological processes and anatomy in the patient's body. Brain tumors, MS, stroke, brain injury, developmental abnormalities, dementia, infections, and headache causes are all diagnosed with MRI images. The magnetic resonance imaging scan method is a non-invasive diagnostic tool used to diagnose various medical disorders.
Magnetic Resonance Imaging Devices Market Dynamics
Drivers
- Rise in the techniques of Magnetic Resonance Imaging (MRI)
The main drivers of demand for magnetic resonance imaging devices are an increased focus on replacing low-level magnetic resonance imaging systems with high-level magnetic resonance imaging, an increase in the age of the elderly, an increase in awareness of early diagnosis, the introduction of magnetic resonance imaging techniques, and an increase in the incidence of chronic diseases.
- Increase in Chronic Obstructive Pulmonary Disease (COPD)
Increased tobacco use, physical inactivity, air pollution, work pressure, and dietary changes are the main causes of cardiovascular disease and COPD. The rise in disease occurrence has prompted organizations to take action to combat the problem by growing awareness about the significance of early detection.
- Rising awareness would enhance the market for Magnetic Resonance Imaging Devices Systems
According to World Health Organization (WHO) research, some health issues such as dementia, cancer, an increase in falls, obesity, and diabetes are projected to increase as the population ages. As a result, the need for magnetic resonance imaging scans for disease detection and scanning will grow in the market.
Opportunities
Increase in aged population and chronic diseases, the magnetic resonance imaging market in Asia Pacific is booming. Furthermore, during the projection period of 2024 to 2031, rising health expenditure is boosting the market growth. Furthermore, increased research activities in the APAC region will give opportunities for market expansion throughout the projection period and beyond. The older population is predicted to grow in the near future, making them more susceptible to chronic ailments such as cardiovascular and neurological diseases, boosting the market over the forecast period.
As a result of the aforementioned factors and the Asia-Pacific region's fastest-growing economy, healthcare sectors, and advancements in medical research, the healthcare industry is predicted to grow significantly in the near future.
Restraints/Challenges
Researchers' major gripe is that magnetic resonance imaging can only look at blood flow in the brain. It cannot focus on the activity of individual nerve cells (neurons), which are essential for mental function. Each MRI-studied area of the brain is made up of thousands of individual neurons, each with its own tale to tell. It is hard to say exactly what kind of brain activity is being reflected on an fMRI scan because specific parts of the brain that "lit up" on the scan could represent a variety of tasks. Furthermore, interpreting the results of an fMRI scan might be tricky.
However, during the forecast period, the high cost of magnetic resonance imaging systems, product recalls, and the growing use of reconditioned and recycled magnetic resonance imaging equipment are projected to stifle the growth of magnetic resonance imaging equipment.
This magnetic resonance imaging devices 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 the magnetic resonance imaging devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Magnetic Resonance Imaging Devices Market
The increased number of COVID-19 cases is predicted to influence the MRI market in North America negatively. COVID-19 had a significant impact on the routine diagnostics services business. Governments around the world have restricted the use of magnetic resonance imaging due to the considerable risk of contamination associated with such massive equipment. To prevent the virus from infecting diagnostic equipment, the recommendation recommended temporarily pausing the use of equipment such as magnetic resonance imaging and CT scans. However, given the diagnostic imaging tools, like MRI, represent vital component of healthcare services, the impact is not likely to be long-term.
Magnetic Resonance Imaging Devices Market Scope
The magnetic resonance imaging devices market is segmented on the basis of architecture, field strength, modality, indication, application, distribution channel and end-user. The growth amongst these segments will help you analyze 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.
Architecture
- Closed MRI Systems
- Open MRI Systems
Field Strength
- Low Field MRI Systems
- High Field MRI Systems
- Very High Field MRI Systems and Ultra-high MRI Systems
Application
- Oncology
- Neurology
- Cardiology
- Gastroenterology
- Musculoskeletal
- Other Applications
Modality
- Stationary System
- Portable/Mobile System
- Point-of-Care (POC) System)
Indication
- Brain
- Neurological
- Musculoskeletal
- Cardiology
- Mammography
- Oncology
- Pelvic and Abdominal
- Gynecology
- Urology
- Dental and Others
End-User
- Hospitals
- Diagnostic Centers
- Imaging Centers
- Specialty Clinics
- Ambulatory Surgical Centers
- Academic Research Institutes
Distribution Channel
- Direct Tender
- Retail Sales
Magnetic Resonance Imaging Devices Market Regional Analysis
The magnetic resonance imaging devices market is analyzed and market size insights and trends are provided by country, architecture, field strength, modality, indication, application, distribution channel and end-user as referenced above.
The countries covered in the magnetic resonance imaging devices market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The magnetic resonance imaging devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for magnetic resonance imaging devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the magnetic resonance imaging devices market. The data is available for historic period 2010-2020.
Magnetic Resonance Imaging Devices Market Share
The magnetic resonance imaging devices 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, global 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 magnetic resonance imaging devices market.
Magnetic Resonance Imaging Devices Market Leaders Operating in the Market Are:
- Aspect Imaging Ltd. (U.S.)
- CANON MEDICAL SYSTEMS CORPORATION (Japan)
- Siemens Healthcare GmbH (Germany)
- GE Healthcare (U.S.)
- Hitachi, Ltd. (Japan)
- Koninklijke Philips N.V. (Netherlands)
- Neusoft Corporation (China)
- ESAOTE SPA (Italy)
- AllTech Medical Systems (China)
- Shanghai United Imaging Medical Technology Co., Ltd (China)
- United Imaging Intelligence (China)
- Medonica Co. LTD (China)
- IMRIS (U.S.)
- SG HealthCare (China)
- Elekta AB (Sweden)
- Beijing Wandong Medical Technology Co.,Ltd. (China)
- FONAR Corp. (U.S.)
- Synaptive Medical (Canada)
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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