Pediatric MRI Market Benefits from Rising Demand for Advanced Imaging Solutions for Childhood Diseases

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 plays a crucial role in diagnosing a wide array of conditions in children, including injuries, infections, and congenital disorders. Its ability to penetrate the skull and spine makes it particularly valuable for evaluating the brain and spinal cord. Utilizing magnetic fields, radio waves, and advanced imaging equipment, pediatric MRI produces detailed images of internal organs and tissues. In recent years, improved access to diagnostic testing and treatment, particularly in developing countries, has contributed to the growth of the pediatric MRI market, a trend expected to continue in the coming years. Rising rates of preterm births, childhood illnesses, and the integration of digital health tools for enhanced patient care are further driving demand.

The global pediatric MRI market is poised for growth, supported by an increasing number of partnerships and the introduction of innovative products aimed at improving pediatric care. Technological advancements and sustained economic development are key factors expected to propel market expansion. Furthermore, investments in cutting-edge technology and the frequent release of new products by industry players are anticipated to fuel market growth. However, challenges such as the shortage of skilled professionals and the high cost of necessary equipment may hinder market progress. Regulatory developments are likely to drive demand for pediatric MRI, intensifying competition and contributing to overall 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:
The increasing demand for pediatric MRI is driven by factors such as the approval of new products, advancements in medical technology, and the rising number of patients with chronic conditions. Additionally, growing healthcare spending is contributing to the development of infrastructure, which further supports the expansion of the pediatric MRI market. Continued progress in imaging technology, along with increased public and private sector efforts to raise awareness and boost government funding, is expected to foster growth. The continued adoption of advanced imaging technology and a series of technological breakthroughs are expected to drive the global pediatric MRI market forward.

Challenges:
A significant challenge hindering the growth of the pediatric MRI market is the lack of awareness, expertise, and compliance with medication, particularly in emerging markets. The effects of lockdowns and isolation in these regions are anticipated to slow market growth. Furthermore, a shortage of trained sonographers, along with the high cost of state-of-the-art pediatric radiology equipment, may impede market expansion. Additionally, inadequate healthcare infrastructure in developing nations and the potential side effects associated with certain treatments will present challenges to the overall growth of the pediatric MRI market in the coming years.

Regional Trends:
The North American pediatric MRI market is expected to hold a significant share of the revenue, with projections indicating a high compound annual growth rate (CAGR) in the near future. Factors such as high demand for care, favorable reimbursement policies, and increasing research and development investments by key players are anticipated to drive market growth in the region. Europe is also expected to maintain a substantial market share due to its developed healthcare infrastructure, advanced medical facilities, and the increasing incidence of pediatric diseases. The adoption of innovative solutions by leading market players, coupled with strong collaborations and partnerships, is expected to further accelerate the growth of the pediatric MRI market globally.

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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.