MRI Scanner Market 2023 Segmentation and Regional Analysis by 2032

The global MRI scanner market size was valued at USD 5.6 billion in 2021 and is projected to reach around USD 9.0 billion in 2030, exhibiting a CAGR of 4.7% in the forecast period. The rising geriatric population and increasing per capita financial gain are the key drivers that have propelled the demand of the MRI scanner. The market can grow steadily as way as being a rise within the quantity of cash spent on health care connected activities.

Increasing prevalence chronic diseases is acting as a driver for the expansion of the magnetic resonance imaging scanner market. Increase in use of refurbished and reused magnetic resonance imaging product is acting as a restraint for the magnetic resonance imaging scanner market. Increasing aid expenditure and infrastructure across the globe is acting as a chance for the magnetic resonance imaging scanner market. Strict laws and standards for the approval and exploitation of magnetic resonance imaging devices are acting as challenge for the magnetic resonance imaging scanner market. side magnetic resonance imaging scanners tends to cheaper than a conventional magnetic resonance imaging scanners and doesn't need a separate imaging area. per the Centers for sickness management and bar (CDC), around 13.8% of African-American population on top of sixty-five suffers from dementias that need MRI scanning.

Lockdown in several countries has activities being on hold amid coronavirus impacting the expansion of worldwide magnetic resonance imaging scanners market. Disruption in offer chain activities due restrictions set on commercialism across borders amid imprisonment can slower world magnetic resonance imaging scanners market growth. The shift focussed among many medical devices company towards developing COVID-19 check kits and ventilators can have a short lived negative impact on world magnetic resonance imaging scanners market. On the other hand, reduction in the range of visits to help facilities and identification rate because of the pandemic has hampered world MRI scanners market growth.

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Type Insights
On the basis of type, the MRI scanner market is bifurcated into portable type and desktop type. In 2021, desktop type segment is leading the market due to growing patient emphasis on active and early disease diagnosis.

Application Insights
On the basis of application, the neurology segment is dominating the market due to increasing cases of brain and neurological across the world. Growth of the segment can be ascribed to increase in cases of spinal injuries and rise in the prevalence of intervertebral disc degenerative diseases, especially in the geriatric population. As per the WHO, around 250,000 to 500,000 people suffer from spinal cord injury worldwide, yearly. The scans done are performed with greater quality than those by high-tech tomography scans.

End User Insights
On the basis of end user, the MRI scanner market is segmented into clinic, hospital, ambulatory surgical centers, scientific research and other. In 2021, hospital segment is governing the market due to rising number of hospitals in low and middle income nations. Rising applications of rapid MRI (rMRI) in trauma and emergency care centers and an increasing number of MRI installments in teaching hospitals are boosted to fuel the segment growth.

The ambulatory care centers segment is also predicted to experience a significant growth rate throughout the forecasted period. Rising government initiatives to enhance and growth in the number of ambulatory care centers to rise reach in rural areas are anticipated to propel the segment growth during the forecast period.

Region Insights
North America is expected to dominate the global MRI scanners market with an increased rate of development and commercialization of global MRI scanners in the region during the forecast period. Increased investment towards research and development for advanced technology makes Europe second leading region in global MRI scanners market.

However, Asia-Pacific region is anticipated to grow with the fastest growth rate in the forecasted period. The factors responsible for the growth are rise in healthcare expenditure, growing geriatric population, and increasing healthcare expenditure. The Middle East and Africa are an untapped region for global MRI scanners market with very less product penetration due to poor health infrastructure in the region.

Key Companies Insights
Key players are aiming on their technological partnerships, collaborations, and merger & acquisitions strategies to attain a competitive edge and expand their product portfolio & business footprint. The ongoing Covid-19 pandemic hampered the healthcare globally and driven the market players to innovate products for untapped opportunities.

Some of the key players operating in the global MRI scanner market include:
• Aspect Imaging
• CANON MEDICAL SYSTEMS CORPORATION (a subsidiary of Canon Inc.)
• Siemens Healthcare GmbH
• GE Healthcare
• Hitachi, Ltd.
• Koninklijke Philips N.V.
• Neusoft Corporation
• ESAOTE SPA
• FONAR Corp.
• Synaptive Medical
• AllTech Medical Systems
• Shanghai United Imaging Medical Technology Co., Ltd.
• Medonica Co. LTD
• IMRIS
• Promaxo
• Aurora Healthcare US Corp
• SG HealthCare
• Elekta AB
• Beijing Wandong Medical Technology Co., Ltd
• ASG Superconductors spa
• MinFound Medical Systems Co., Ltd.
• Hyperfine
• SternMed GmbH
• Time Medical Holding
• Other players

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Some of the Recent Developments:
• In May 2022, Bruker launched latest 7 Tesla and 9.4 Tesla conduction-cooled Maxwell magnets for its MRI. The innovative Maxwell 7 Tesla and 9.4 Tesla magnets ease the burden of liquid helium and nitrogen refills for the MRI studies.
• In June 2021, Philips and Akumin Inc. announced a strategic partnership to use Philips' new Radiology Operations Command Center in Akumin's outpatient imaging centers and co-create clinical standards for Akumin's MR and CT imaging modalities.

Segments
By Type
• Portable Type
• Desktop Type

By Application
• Neuro-imaging
• Cardiovascular imaging
• Angiography
• Musculoskeletal imaging
• Liver and gastrointestinal imaging
• Others

By End User
• Hospitals
• Ambulatory Care Centers
• Medical Imaging Centers
• Others

By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt

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