France Magnetic Resonance Imaging Market Size

France Magnetic Resonance Imaging Market Analysis

The France Magnetic Resonance Imaging Market size is estimated at USD 456.83 million in 2024, and is expected to reach USD 590.51 million by 2029, growing at a CAGR of 5.26% during the forecast period (2024-2029).

The COVID-19 pandemic significantly impacted the France magnetic resonance imaging (MRI) market since the healthcare system adopted MRI services to detect the development of COVID-19. For instance, as per an article published in February 2021 in RSNA, a research team in Paris demonstrated that people who were affected with COVID-19 symptoms experienced adverse impacts on their eyes. The investigators found that nine (9%) of the COVID-19 patients had abnormal MRI findings on the eyeball, with one or more nodules on the posterior pole. Due to this, the demand for MRI services was raised during the pandemic. In the coming years, the market is likely to witness significant growth and is estimated to retain it throughout the forecast period due to the rise in chronic diseases and the rise in the adoption of MRI services in the healthcare systems in France.

The major factors that are expected to drive the growth of the magnetic resonance imaging (MRI) market in France are the growing burden of chronic ailments and an increase in accident cases and injuries. For instance, the number of road accidents and injuries is one of the major reasons for opting for MRI in France. For instance, as per the French Road Safety Observatory 2022 update, the number of injury accidents recorded by police forces was 3,728 in January 2022, higher than last year's result (3,508 accidents). As accidents and injuries increase, the chance of using MRI scans is also raised, which is likely to boost the market growth.

Moreover, initiatives by market players are expected to increase market growth. For instance, in March 2021, Hitachi Medical Systems Europe (HMSE) introduced APERTO Lucent Plus 1, 0.4 Tesla permanent Open MRI, and AIRIS Vento Plus 2, 0.3 Tesla permanent Open MRI system, both equipped with "SynergyDrive" at the European Congress of Radiology (ECR) 2021 for all of Europe. Similarly, in October 2021, Siemens Healthineers installed the MAGNETOM 11.7 T MRI system, one of the most potent MRI systems, at CEA-Paris-Saclay, France, and unveiled its first images. This MRI, designed by CEA engineers and researchers together with Siemens Healthineers, enables fundamental research, cognitive sciences, and understanding of brain pathologies. Thus, owing to such strategic activities by the key players, the studied market is expected to witness significant growth in France over the forecast period.

Therefore, due to the increase in chronic diseases and the rise in strategic activities coupled with technological advancements in MRI, the studied market is expected to witness healthy growth over the forecast period. However, it is anticipated that the market expansion in France is likely to be restrained by inadequate reimbursement and the high cost of equipment.