Germany Magnetic Resonance Imaging Market Size

Germany Magnetic Resonance Imaging Market Analysis

The Germany Magnetic Resonance Imaging Market size is estimated at USD 729.40 million in 2024, and is expected to reach USD 961.96 million by 2029, growing at a CAGR of 5.71% during the forecast period (2024-2029).

The COVID-19 pandemic initially impacted the German magnetic resonance imaging market, with the decrease in magnetic resonance imaging adversely impacting the market growth. It was primarily due to the massive influx of COVID-19 patients, leading to lockdowns and restrictions on non-urgent diagnostic procedures in hospitals in Germany. For instance, as per the study published in the journal Thieme RöFo in December 2021, the imaging volume declined by 4 % compared to the pandemic in Germany. The hard lockdown during the first pandemic wave revealed the highest decrease with 29 %, with the greatest decrease in CT (36 % vs. MRI 26 %), outpatients (38 %, and imaging of the spine and extremities (51-72 %). Thus, the decline in scanning procedures adversely affected the market. However, in the post-pandemic period, the cases of COVID-19-positive patients decreased, which led to the resumption of MRI imaging diagnosis in Germany, and it enabled the market to grow at the normal pace, along with the increasing number of patients of other chronic and infectious diseases.

Further, the market is expected to grow with the rising prevalence of chronic diseases like neurological disorders, technological advancements, and the introduction of new products.

The country has an increasing burden of chronic diseases, which are expected to create a higher demand for MRI imaging to accurately diagnose the underlying disease. For instance, per the updated data published by the International Agency for Research on Cancer (IARC) in 2023, cancer cases are expected to increase in Germany in the coming years, with 21.9 million in 2025 and 24.6 million in 2030. Further, other chronic diseases, like neurological and cardiovascular diseases, are also prevalent in Germany, which is expected to boost the demand for MRI diagnosis. For instance, according to data published by the Alzheimer's Society of Germany in 2021, over 1.8 million Germans had dementia at the end of 2021. The same source stated that over 440,000 people aged 65 years and above were estimated to be newly diagnosed with dementia in 2021. This number is estimated to increase to 2.8 million by 2050 in Germany. Over the coming years, the prevalence of Alzheimer's disease in Germany is anticipated to increase demand for accurate diagnostics and propel the country's MRI market growth.

Also, the technological advancements in MRI in Germany are expected to tap more patients in the county with its advanced features and improvisations. For instance, in November 2021, DeepSpin GmbH, developer of a next-gen, AI-powered MRI imaging machine, secured an additional EUR 3.5 Million (USD 3.86 Million) in public funding from 3 prestigious innovation support programs for developing portable MRI systems. Further, In May 2021, Neoscan Solutions, a German company, created a substantially smaller and lighter MRI scanner that may be installed right in a hospital's children's ward, cutting travel time and enabling medical professionals to scan unwell newborns while they are sleeping.

Therefore, owing to the factors above, including the rising burden of chronic diseases and the advancements in MRI, the studied market is anticipated to grow over the analysis period. However, the lack of proper reimbursement, stringent regulatory approval procedures, and the high equipment cost are likely to impede market growth.