Canada Diagnostic Imaging Equipment Market Trends

MRI systems can diagnose almost all the organs in the body, primarily the head and neck, spine, and coronary arteries.

The major factors attributing to the growth of the MRI system market in Canada are the increasing incidence of orthopedic diseases, dental and cardiovascular surgeries, and cancer, and rising technological advancements coupled with an increasing spectrum of applications of these devices. For instance, as per the Canadian Cancer Statistics report published in 2021, the estimated number of people expected to be diagnosed with cancer in Canada was around 229,200. The high number of cancer cases indicates the need for imaging techniques such as MRIs. Thus, the market segment is expected to see a surge over the forecast period.

Moreover, in January 2022, the Weeneebayko General Hospital, serving patients at James Bay and Hudson's Bay, has become the first hospital in Canada to implement a portable MRI scanner for a project assessing the technology in a clinical setting. Similarly, in September 2020, amid new research about the potential impact of COVID-19 on the brain, a Toronto medical firm showcased lighter, faster, cheaper MRI technology to make it easier to scan patients. Moreover in October 2021, Subtle Medical announced Health Canada/Santé Canada approval for their suite of AI-powered image enhancement solutions. Subtle's vendor-neutral software, SubtleMR, and SubtlePET are a virtual upgrade to existing MRI and PET machines that boost scanner performance and improves patient comfort during medical imaging exams.

Hence, there is a great opportunity for medical device companies, to establish their facilities in Canada. The market is witnessing an increase in the demand for medical devices due to the rising prevalence of chronic diseases.