MRI Systems Market to Witness Robust Growth in Coming Years

The World Population Ageing 2020 report forecasts that the global population of people aged 65 years and above will reach around 1.5 billion by 2050. The mounting aging population is generating a high requirement for MRI systems due to the rising incidence of chronic diseases within this age pool. Since geriatric care is intricate, healthcare units are rapidly deploying magnetic resonance imaging (MRI) systems to offer quick diagnosis and better treatment.

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Additionally, the increasing research and development (R&D) activities being carried out in imaging modalities are expected to drive the MRI systems market at a steady rate in the years to come. The evolution of advanced products, such as hybrid MRI and MRI-compatible devices, on account of the R&D activities, will lead to the provision of better image quality, faster examination time, and better throughput. This is becoming important since diseases are themselves evolving, which is making it difficult to diagnose them using conventional technologies.

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In recent years, healthcare units, such as diagnostic centers, hospitals, and clinics, have opted for closed MRI systems as they are more accurate and provide higher-resolution images than open systems. However, in the coming years, end users are likely to adopt open MRI systems at a faster pace because old people are not comfortable with the idea of undergoing long-duration scanning in closed MRI settings, as many suffer from claustrophobia. Both these types can further be large, fixed ones or relatively smaller, portable ones.

Whereas, Asia-Pacific (APAC) is expected to demonstrate the fastest growth in the MRI systems market in the years to come. This will be due to the rising prevalence of chronic disorders, booming elderly population, improving healthcare infrastructure, and surging technological advancements being made in imaging systems in the region. According to Cancer Australia, in 2020, 145,483 new cancer cases and 48,099 cancer deaths were recorded in Australia. Furthermore, the International Agency for Research on Cancer (IARC) states that nearly 1.3 million new cancer cases were diagnosed in India in 2020.

Thus, the growing geriatric population and increasing R&D in the medical devices industry will propel the need for MRI systems in the forthcoming years.

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This release was published on openPR.