Market Snapshot
| Study Period: | 2018 - 2026 |
| Base Year: | 2019 |
| CAGR: | 8.1 % |
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Market Overview
The Middle East and Africa MRI Market is expected to grow with a CAGR of 8.1% in the forecast period. The rising technological advancement, such as the inclusion of MRI with PET or CT, to provide imaging possibilities with less exposure to harmful radiations is boosting the market growth in the region.
The global players, such as GE Healthcare, Siemens, and Philips, have an extensive hold on improving technology, as well as distribution channels in the region. MRI has been used with other powerful imaging techniques, such as when MRI is combined with radiography, it is used to treat infertility patients. Additionally, due to the rising popularity of technologically advanced MRI systems such as hybrid MRI, particularly in a developed market is expected to fuel the market.
The other factors such as the increasing geriatric population and rising adoption of MRI systems are driving the Middle East magnetic resonance imaging market.
Scope of the report
As per the scope of the report, magnetic resonance imaging is a medical imaging technique, which is used in radiology to produce pictures of the anatomy and the physiological processes of the body in both health and disease. These pictures are further used to diagnose and detect the presence of abnormalities in the body.
| By Architecture | |
| Closed MRI Systems | |
| Open MRI Systems |
| By Field Strength | |
| Low Field MRI Systems | |
| High Field MRI Systems | |
| Very High Field MRI Systems and Ultra-high MRI Systems |
| By Application | |
| Oncology | |
| Neurology | |
| Cardiology | |
| Other Applications |
| Geography | |||||
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Key Market Trends
Oncology Segment is Expected to Show Better Growth During the Forecasted Years
The oncology segment deals with the diagnosis and treatment of tumors and cancers. According to Globocan, in 2018, among both the sexes, breast and cervix uteri cancers are the most common cancers found in Africa, with breast cancer alone contributing to around 16% of the total new cases. Therefore there is a growing demand for better diagnostic facilities like MRI in the African countries due to the rising burden of cancer and the growing aging population.
In addition, the rising awareness among people about early diagnosis of diseases for prevention and faster cure is expected to show better growth in the forecast period. Furthermore, high-quality, sustainable projects, such as in Eldoret (AMPATH Oncology) the work of Hospice Africa Uganda, the collaborations between Crumlin Children’s Hospital (Dublin, Ireland) and the Muhimbili University of Health and Allied Sciences (Dar-es-Salaam) Tanzania, etc.contribute in a positive manner towards cancer control that is boosting the overall market growth.
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Competitive Landscape
The Middle East and Africa MRI Market is moderately competitive with several major players. Some of the strategies implemented include agreements, collaborative models, business expansion, and product developments. Some of the major players in the market are Canon Medical Systems Corporation, Esaote SpA, GE Healthcare, Hitachi Ltd. etc
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Increasing Prevalence of Chronic Diseases
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4.2.2 Introduction of Hybrid MRI Systems and Increasing Adoption in Emerging Markets
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4.3 Market Restraints
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4.3.1 High Cost of MRI Systems
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4.4 Porter's Five Force Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Architecture
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5.1.1 Closed MRI Systems
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5.1.2 Open MRI Systems
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5.2 By Field Strength
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5.2.1 Low Field MRI Systems
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5.2.2 High Field MRI Systems
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5.2.3 Very High Field MRI Systems and Ultra-high MRI Systems
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5.3 By Application
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5.3.1 Oncology
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5.3.2 Neurology
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5.3.3 Cardiology
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5.3.4 Other Applications
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5.4 Geography
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5.4.1 Middle-East and Africa
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5.4.1.1 GCC
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5.4.1.2 South Africa
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5.4.1.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Esaote SpA
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6.1.2 GE Healthcare
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6.1.3 Hitachi Ltd
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6.1.4 Koninklijke Philips NV
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6.1.5 Canon Medical Systems Corporation
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6.1.6 Fonar Corporation
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6.1.7 Siemens Healthcare GmbH
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Middle East and Africa Magnetic Resonance Imaging (MRI) Market market is studied from 2018 - 2026.
What is the growth rate of Middle East and Africa Magnetic Resonance Imaging (MRI) Market?
The Middle East and Africa Magnetic Resonance Imaging (MRI) Market is growing at a CAGR of 8.1% over the next 5 years.
Who are the key players in Middle East and Africa Magnetic Resonance Imaging (MRI) Market?
Canon Medical Systems Corporation, Koninklijke Philips N.V, Siemens Healthcare GmbH , Hitachi Ltd., GE Healthcare are the major companies operating in Middle East and Africa Magnetic Resonance Imaging (MRI) Market.
