Market Trends of Mexico Magnetic Resonance Imaging (MRI) Industry
Neurology Segment is Expected to Witness a Significant Growth Over the Forecast Period
The neurology segment is expected to expand rapidly due to the rise in neurological disorders, the increasing aging population, and the rising healthcare expenditure in Mexico. For instance, according to the published in January 2021 in PubMed, in Mexico, traumatic brain injuries were ranked as the third leading cause of fatalities coupled with the rise in accidents. Furthermore, the presence of neurological diseases like parkinsonism, depression, etc., is expected to bolster market growth. For instance, according to the January 2023 update by the Government of Mexico, in Mexico, one in five people with a psychiatric disorder in the last 12 months received some care for this problem, and more than 75% of severe and moderate cases among adults did not receive medical or psychological care. Hence, due to the high burden of neurological diseases in Mexico, the demand for MRI equipment is likely to rise, thereby fueling segment growth over the forecast period.
Similarly, according to the July 2023 update by the Government of Mexico, it is estimated that every year in Mexico, 188 per 100,000 inhabitants suffer a stroke. Also, obesity-related metabolic dysfunction, dyslipidemia, and inflammation are factors in several illnesses and consequences on the neurological system. For instance, as per the World Obesity Atlas 2023, 47% of adults are likely to be obese in Mexico by 2035. Thus, a high percentage of obesity cases is expected to bolster the demand for MRI equipment over the forecast period.
Therefore, due to the rise in neurological diseases and the increase in the adoption of MRI in neurological studies, the studied segment is anticipated to witness significant growth over the forecast period.
Closed MRI Systems is Expected to Witness a Significant Growth Over the Forecast Period
A closed MRI machine is a capsule or tube-like space in which the patient can lie in the center while images are taken of their body. The system includes a large magnet and radio wave that sends and receives signals to and from the body. The closed MRI segment is expected to witness significant market growth in Mexico due to the rise in chronic diseases, product launches, and rapid technological advancements in closed MRI systems. For instance, according to the Non-Communicable Diseases Epidemiological Overview in Mexico, 2021, the national incidence rate of arterial hypertension was 157.6 cases per 100,000 inhabitants. The entity with the highest incidence until June 2021 was Baja California, with 517.6 cases per 100,000 inhabitants, followed by Chihuahua with 449.8 cases, Sinaloa with 419.6 cases, and Coahuila with 405 cases. Other states with high incidence rates were Zacatecas, Tamaulipas, Nayarit, and Veracruz. Thus, the high prevalence of chronic cardiac diseases is expected to increase the demand for closed MRI systems, contributing to segment growth over the forecast period.
Moreover, various advanced and multi-specialty healthcare centers in Mexico use closed MRI systems due to their benefits and accuracy. For instance, MRI scans at CMQ Hospitals in the Puerto Vallarta Region use advanced closed MRI systems for various disease identifications. Also, Canon's Mexican distributor, Tesa, distributes sophisticated Vantage Elan closed MRI systems with AI technology, noise removal, and compressed sensing scan acceleration technology. Thus, owing to the availability of closed MRI systems and their advantages in healthcare, the studied segment is expected to witness significant growth over the forecast period.
Therefore, due to the high prevalence of chronic diseases and strategic activities by the key players, the studied segment is expected to grow significantly over the study period.
