Pediatric MRI Market Drivers: Increasing Preterm Births and Rising Chronic Diseases in Children.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Pediatric MRI Market Size, Share & Trends Analysis Report By Type (Functional Brain MRI, Cardiac MRI, 4D MRI, and Others), Application (Neurology, Orthopedics, Cardiology, Oncology, and Others), Product Type [Equipment and Coil Design (Pediatric Head/Neck/Spine MRI Coil, Interchangeable Pediatric Brain Coil, Pediatric Blanket Coil, and Others)], Age Group [Adolescent (12-18 Years), Child (2-11 Years), Infants and Toddlers (28 Days-23 Months), Neonatal Stage (0-27 Days), and Fetal Stage], and End User (Hospitals, Pediatric Clinics, Diagnostic Centers, and Others), Region, Market Outlook And Industry Analysis 2031"

The global pediatric MRI market is estimated to reach over USD 6.62 billion by 2031, exhibiting a CAGR of 7.3% during the forecast period.

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Pediatric MRI is useful for diagnosing a wide range of conditions in children, including injuries, infections, and congenital disabilities. Because MRI can see through the bones of the skull and spine, it is useful for assessing a child's brain and spinal cord. Pediatric MRI uses magnetic fields, radio waves, and machines to make realistic photos of a child's internal organs and tissues. Access to body testing and treatment has increased in recent years, making this especially true in developing nations and is expected to increase in the coming years. Growing rates of preterm births and childhood illnesses, as well as using digital health tools to better care for these patients.

The worldwide pediatric MRI industry may also benefit from the increasing number of partnerships and new product introductions to better pediatric treatment. Introducing new technology and sustained economic growth indicate the pediatric MRI market's future growth. Industry expansion is expected to benefit from two factors in the coming years: increased spending on cutting-edge technology and frequent product introductions by industry participants. Market expansion will be impeded by factors such as the scarcity of trained workers and the expense of necessary instruments. The development of regulations grows the market demand for pediatric MRI and ultimately increases competition, thereby boosting the market growth.

List of Prominent Players in the Pediatric MRI Market:
• Siemens Healthcare AG
• Advanced Imaging Research Inc
• LMT Medical Systems GmbH
• Hyperfine Inc.
• GE Healthcare Technologies Inc
• Neoscan Solutions GmbH
• Aspect Imaging Ltd
• NORAS MRI Products GmbH
• Koninklijke Philips NV
• Time Medical Holding

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Market Dynamics:
Drivers-
Growing demand for pediatric MRI owing to their Increases in product approvals and new product releases, as well as an increase in the number of patients with chronic conditions, are expected to drive expansion in the pediatric imaging market., etc., is a key factor likely to grow the target market. Increasing healthcare spending contributes to the sector's infrastructural development. The pediatric MRI market will grow due to developments in medical technology, increased public and private sector efforts to raise awareness, and rising government funding. The growth rate of the pediatric MRI market will also be influenced favorably by other variables, such as the improvement in imaging technology adoption and numerous technological breakthroughs, factors expected to augment the growth of the global Pediatric MRI market.

Challenges:
The prime challenge is a lack of awareness, competence and compliance with medication because of lockdowns and isolation in emerging countries, which is predicted to slow the growth of the pediatric MRI market. However, the lack of trained sonographers and the high price of cutting-edge pediatric radiology could slow industry expansion and inadequate healthcare infrastructure in developing nations. The medication's associated negative effects will also hamper the development of the overall growth of the Pediatric MRI market over the coming years.

Regional Trends:
The North American pediatric MRI market is anticipated to report a major market share in terms of revenue. It is projected to grow at a high CAGR in the near future because many people need care. The implementation of generous reimbursement procedures and increasing research and development efforts by prominent players are factors expected to boost the growth of the pediatric MRI market in the region. Besides, Europe had a considerable share in the market due to its developed economy, advanced medical facilities, the proliferation of brands and the rise in the incidence of diseases affecting children. It is due to the adoption of innovative methods by the major players in the pediatric MRI market. Moreover, the existence of key market players and the growing cooperation between major players for market penetration in the area enables an opportunity to grow the global pediatric MRI market.

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Recent Developments:
• In March 2023, Time Medical's new manufacturing plant in Hong Kong, located in the MARS Centre at Tai Po INNOPARK, officially opened, making it the city's first large-scale medical equipment manufacturing facility and the largest MRI manufacturing base in the Greater Bay Area and Southeast Asia. The factory focuses on developing and manufacturing superconductor MRI systems for high-value applications, including neonatal and breast screening.
• In July 2023, Neoscan Solutions is pleased to announce that the neo315 1.5T MR system has achieved official CE certification. We're all quite proud of the team's accomplishment. Thanks to its accreditation, Neoscan Solutions is now allowed to work with hospitals across Europe to offer MR imaging straight to neonatal and pediatric wards.

Segmentation of Pediatric MRI Market-
By Type-
• Functional Brain MRI
• Cardiac MRI
• 4D MRI
• Others
By Application-
• Neurology
• Orthopedics
• Cardiology
• Oncology
• Others
By Product Type-
• Equipment
• Coil Design
o Pediatric Head/Neck/Spine MRI Coil
o Interchangeable Pediatric Brain Coil
o Pediatric Blanket Coil,
o Others
By Age Group-
• Adolescent (12-18 Years)
• Child (2-11 Years)
• Infants & Toddlers (28 Days -23 Months)
• Neonatal Stage (0-27 Days)
• Fetal Stage
By End User-
• Hospitals
• Pediatric clinics
• Diagnostic centers
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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This release was published on openPR.