Asia-Pacific MRI Market – Share, Outlook, Trends, Size and Forecast (2024

Asia-Pacific MRI Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

MRI (Magnetic Resonance Imaging) is also known as Nuclear Magnetic Response Imaging is an imaging technique provides the visual representation of physiological processes in the body especially soft tissues in the body. It creates exhaustive images of the body parts, particularly soft tissues with the help of radiations and magnetic field. MRI can be used in wide range of applications like neurology, oncology, cardiology, and others. To make special signals, there are certain atoms will appear in the body. The MRI scanner takes the special signals and sends the information regarding the body’s current condition, and the computer will create the image according to the scanner response.

Asia Pacific MRI Market Segments Size & Growth:

The Asia Pacific MRI market is estimated to reach USD XX Billion by 2024, at a CAGR of XX% from $XX Billion in 2018. The ageing factors leading the Asia Pacific MRI market are growing geriatric population, rising prevalence of chronic conditions, growing applications of MRI-guided radiotherapy for brain tumours, advances in scanning technology and imaging contrast agents. The non-invasive diagnostic imaging is used for the detailed anatomical study of body parts, especially soft tissues. Rising demand for the non-invasive diagnostic imaging plays a crucial role in Asia Pacific MRI market growth. The growing applications of MRI-guided radiotherapy for brain tumours and advances in scanning technology are also contributing majorly to the Asia Pacific MRI market growth. High cost of MRI systems, expensive treatment, and lo reimbursement rates for MRI procedures are restraining the market growth during the forecast period.

Asia-Pacific MRI Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Lack of skilled professionals and instruments complexity are challenging the market growth in upcoming years. Emerging hybrid MRI systems and novel applications in developed economies are providing profitable opportunities to the market.

Asia Pacific MRI Market Segments Share:

Asia Pacific MRI market is segmented based on the architecture, field strength, applications, end-users, and geography. By architecture, the market is segmented into open MRI systems, closed MRI systems. Among these, the closed MRI systems are accounting largest market share in 2017, owing to the technological advancements, and cost-effectiveness. By field strength, the market is classified into low-to-mid-field strength MRI, high-field strength MRI, very high-field strength MRI, ultra-high-field strength MRI, and others. High-field segment is estimated to grow at the fastest growth rate during the forecast period, due to their advantages regarding SNR (Signal to Noise Ratio). By considering the applications segment, the market is categorised into the brain and neurological MRI, cardiology, oncology, vascular MRI, spine and musculoskeletal MRI, and others. Brain and the neurological segment is expected to hold the largest market share followed by the spine and musculoskeletal segment, owing to the increasing aging population and growing awareness of diagnosis.

By Geography; the increasing geriatric population and rising demand for the MRI modality are catalysing the MRI market in the Asia Pacific. APAC (Asia Pacific) region is estimated to grow at a fair pace during resonance imaging is

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Asia-Pacific MRI Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

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