Market Trends of Pediatric Radiology Industry
Magnetic Resonance Imaging (MRI) Segment is Expected to Hold the Major Market Share in the Pediatric Radiology Market
Pediatric magnetic resonance imaging (MRI) uses a powerful magnetic field, radio waves, and a computer to produce detailed pictures of the internal body structures. MRI may be used to help diagnose or monitor treatment for various conditions within the brain, chest, abdomen, pelvis, and extremities. The market segment's growth can be attributed to factors such as the increasing burden of pediatric births and pediatric diseases, growing technological advancements in pediatric imaging techniques, and rising collaborations, approvals, and launches to enhance pediatric care worldwide.
The increasing burden of premature births and pediatric diseases is driving the demand for magnetic resonance imaging equipment. For instance, as per the data from PubMed published in July 2021, preterm birth is a birth that occurs before completing 37 weeks of pregnancy, and approximately 15 million babies were born preterm annually worldwide, indicating a global preterm birth rate of about 11%. As preterm birth is associated with issues in the neurological system, MRI is widely preferred to diagnose the abnormality in the brain. Thus, the demand for pediatric MRI is rising for early diagnosis and treatment.
Furthermore, the increasing initiatives are contributing to the segment's growth. For instance, in May 2021, Neoscan Solutions invented an MRI scanner for babies. The smaller and lighter MRI scanner can be placed directly in the hospital's children's ward. Such launches are propelling the growth of the market. Similarly, in February 2022, neurosurgeons at Primary Children's Hospital launched innovative technology to improve outcomes in children requiring brain surgery. It is a specialized intraoperative MRI to analyze deeply inside the brain during surgeries to help children with severe seizures and protect their healthy brain tissue when removing tumors.
Thusches, the segment is expected to witness significant growth over the forecast pe due to the increasing burden of preterm births and new launchesriod.
North America Holds a Significant Share in the Market
North America is expected to hold a major share of the market studied. Within North America, the United States is believed to hold the major share of the market. The factors propelling the market growth are the increasing burden of pediatric births and pediatric diseases, growing technological advancements in pediatric imaging techniques, and rising collaborations, approvals, and launches to enhance pediatric care worldwide.
For instance, as per the data updated in November 2021 by the Centers for Disease Control and Prevention (CDC), preterm birth affected 1 of every 10 infants born in the United States. It also reported that the rate of preterm birth among African American women (14.4%) was about 50% higher than that among white or Hispanic women (9.1% and 9.8%, respectively) during the year 2021. Since infants born preterm are at an increased risk of neurological complications, radiological procedures help diagnose and detect these conditions and thus drive the market's growth.
In addition, in December 2021, Hyperfine Inc., the Swoop MRI system manufacturer, partnered with Raising Malawi to build and cooperate with the Mercy James Centre for Paediatric Surgery & Intensive Care (MJC). The partnership was intended to highlight the research made possible at MJC with Hyperfine's breakthrough portable MRI system, which can be replicated to support medical research and improve patient care in other low-resource settings. Such developments are propelling the growth of the studied market in the region.
Moreover, in November 2021, Fujifilm Healthcare Americas Corporation, one of the leading providers of diagnostic imaging and medical informatics solutions, unveiled the Velocity MRI System, its advanced, high-field open MRI system, during the 2021 Radiological Society of North America (RSNA) conference. The Velocity MRI system is Fujifilm's newest MRI scanner, designed to streamline workflow and enhance the patient experience with its unique open gantry, integrated radiofrequency (RF) coils, and reconstruction technologies. The scanner's unique, open gantry creates a spacious feeling for pediatric and other patients. The introduction of new products is boosting the growth of the market in the region.
Thus, the market is expected to witness significant growth over the forecast period due to the developments mentioned above.
