Rising Dementia Propels Growth Of The Portable Magnetic Resonance Imaging Market: Major Factor in the Transformation of the Portable Magnetic Resonance Imaging (MRI) Market in 2025

How Will the Portable Magnetic Resonance Imaging (MRI) Market Grow, and What Is the Projected Market Size?
In recent times, the market size of portable magnetic resonance imaging (MRI) has experienced robust growth. An anticipated increase from $3.52 billion in 2024 to $3.78 billion in 2025 is expected, showcasing a compound annual growth rate (CAGR) of 7.5%. Factors contributing to the growth in the historic period have been the growing incidents of neurological conditions, a surge in demand for point-of-care diagnostic methods, increased focus on early diagnosis, the necessity for cost-effective imaging techniques, developments in battery technology, and enhancements in image resolution.

The market size for portable magnetic resonance imaging (MRI) is projected to experience significant expansion in the upcoming years, escalating to $4.99 billion in 2029 with a compound annual growth rate (CAGR) of 7.2%. This predicted growth for the forecast period can be linked to numerous factors, including extended battery life for portable devices, intuitive user interfaces and automated features, cost savings, favorable reimbursement policies, and advancements in cancer detection and treatment response tracking. Key trends expected during the forecast period encompass the application of artificial intelligence and machine learning, compatibility with other imaging techniques like ultrasound or CT scans, enhanced resolution and sensitivity, emphasis on education and training, strides in regenerative medicine and research, and tailored imaging protocols for individual patients.

What Factors Are Propelling the Expansion of the Portable Magnetic Resonance Imaging (MRI) Market?
The portable magnetic resonance imaging market's expansion is predicted to be fueled by an increase in dementia cases. Characterized by a deterioration in cognitive abilities, dementia is a set of progressive neurological disorders that affect memory, thought processes, behavior, and the capacity to carry out day-to-day tasks. This surge in dementia cases is due to the global aging population and enhanced detection techniques. Portable magnetic resonance imaging (MRI) helps in the diagnosis and tracking of dementia through on-site brain imaging, making it vital in various environments, such as clinics and care facilities. For example, the Australian Institute of Health and Welfare reported that about 411,100 Australians were living with dementia in 2023, a figure anticipated to more than double by 2058. Therefore, the escalated dementia cases are propelling the growth of the portable magnetic resonance imaging market.

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Who Are the Major Industry Players Fueling Portable Magnetic Resonance Imaging (MRI) Market Expansion?
Major companies operating in the portable magnetic resonance imaging (MRI) market are TATA group, Siemens Healthineers AG, Koninklijke Philips N.V., Alliance HealthCare Services Inc., Akumin Inc., Esaote SpA, Meridian Group International Inc., JMP Medical Ltd, DMS Health Pvt. Ltd, Cobalt Health, Aurora Imaging Technology Inc., Kings Medical Group Inc., Hyperfine Inc., Burgess Diagnostics Ltd, Interim Diagnostic Imaging Ltd, PrizMED Imaging Solution Inc., Radiology Management Solutions Ltd, Medco Blue LLC, Odulair LLC, Lamboo Medical Ltd, Advanced Mobility & Shelter Technologies LLC

Which Key Developments Are Influencing the Portable Magnetic Resonance Imaging (MRI) Market?
The portable magnetic resonance imaging market's central companies are directing their efforts towards developing innovative solutions, like mobile magnetic resonance (MR) imaging scanners, to increase their reach and convenience in medical imaging, specifically in distant and point-of-care contexts. The technology used in magnetic resonance imaging (MRI) scanners involves powerful magnetic fields and radio waves to procure detailed imagery of the body's internal organs and tissues. For instance, in November 2022, Siemens Healthcare AG, a German health company, unveiled its latest product, MAGNETOM Viato Mobile, a 1.5 Tesla (1.5T) mobile magnetic resonance (MR) imaging scanner, which is particularly designed for convenient transportation to external locations. The 70-centimeter-bore scanner has been designed to be installed in a re-locatable unit, making premier medical imaging services accessible to patients who would otherwise have to cover extensive distances. The MAGNETOM Viato.Mobile, which recently attained FDA clearance, is a testament to the devotion of Siemens Healthineers to the mobile MR market and making top-tier imaging tech widely accessible. This equipment allows healthcare providers to provide advanced medical imaging services to patients who would be compelled to cover long distances, particularly in underprivileged areas.

How Is the Segmentation of the Portable Magnetic Resonance Imaging (MRI) Market Defined?
The portable magnetic resonance imaging (MRI) market covered in this report is segmented -

1) By Product: Superconducting-Magnet-Based Portable Magnetic Resonance Imaging (MRI), Electromagnet-Based Portable Magnetic Resonance Imaging (MRI), Permanent-Magnet-Based Portable Magnetic Resonance Imaging (MRI)
2) By Application: Neurology, Musculoskeletal, Gastroenterology, Other Applications
3) By End User: Hospitals, Diagnostic Centers, Ambulatory Surgery Centers, Other End Users

Subsegments:
1) By Superconducting-Magnet-Based Portable MRI: High-Field Superconducting MRI, Low-Field Superconducting MRI, Compact Superconducting MRI Systems, Superconducting MRI For Neurological Imaging, Superconducting MRI For Musculoskeletal Imaging
2) By Electromagnet-Based Portable MRI: Low-Field Electromagnet MRI Systems, Medium-Field Electromagnet MRI Systems, Electromagnetic MRI For Point-Of-Care Use, Electromagnet MRI For Diagnostic Imaging, Portable Electromagnet MRI For Emergency Settings
3) By Permanent-Magnet-Based Portable MRI: High-Resolution Permanent Magnet MRI, Low-Field Permanent Magnet MRI, Compact Permanent Magnet MRI Systems, Permanent Magnet MRI For Field Use, Permanent Magnet MRI For Veterinary Applications

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What Is the Leading Region in the Portable Magnetic Resonance Imaging (MRI) Market?
North America was the largest region in the portable magnetic resonance imaging (MRI) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the portable magnetic resonance imaging (MRI) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Portable Magnetic Resonance Imaging (MRI) Global Market Report?

- Market Size Analysis: Analyze the Portable Magnetic Resonance Imaging (MRI) Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Portable Magnetic Resonance Imaging (MRI) Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Portable Magnetic Resonance Imaging (MRI) Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Portable Magnetic Resonance Imaging (MRI) Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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