APAC MRI Market

APAC MRI Market Size (2022 to 2027)

The size of the Asia-Pacific MRI Market has been estimated at USD 1.54 billion in 2022. It is projected to reach USD 2.22 billion by 2027, at a CAGR of 7.6% during the forecast period from 2022 to 2027. It is the fastest-growing region globally because of the developing market and the increase in spending limits on people.

Extensive MRI Systems usage for various applications like oncology, neurology, and cardiology is predicted to drive market growth. Across the globe, the majority of brain-related health issues were reported in the Asia Pacific in 2019. This rising incidence is estimated to boost the growth of the MRI Systems market in this region. The cancer incidence is significantly growing in this region and is expected to act as a market growth factor. According to the data published by the Australian Government Department of Health, an estimated 138,321 new cancer cases were found in Australia in 2018. Additionally, the aging population in the Asia Pacific countries also contributes to the growth of the MRI Systems market in the Asia Pacific. According to the World Health Organization (WHO), the aging population ratio was increased from 6.9% in 2000 to 8.7% in 2017.

Poor accessibility of healthcare equipment and facilities in hospitals, clinics, and diagnostic centers, and high costs associated with MRI Systems to buy are major factors restraining the market.

This research report on the APAC MRI Market has been segmented and sub-segmented into the following categories:

By Field Strength: 

• Low-to-Mid-Field
• High Field
• Very High Field
• Ultra-High Field

By Architecture: 

• Open MRI
• Closed MRI

By Application: 

• Brain
• Spine
• Cardiac
• Abdominal
• Breast

By Country: 

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Regional Analysis:

China and India's markets are expected to account for most of the share in the Asia Pacific MRI systems market during the forecast period due to the increasing awareness, growing healthcare expenditure, favorable government policies, and rising medical tourism in these countries.

The Japanese MRI Systems Market is estimated to progress at a favorable rate from 2022 to 2027 due to the rapid expansion of the healthcare service industry, skilled and expert healthcare employees, developed amenities in the healthcare sector, and services at a lower price.

KEY MARKET PLAYERS:

A few of the major companies operating in the Asia Pacific MRI market are Hitachi Medical Corporation, Toshiba Medical Systems, Siemens Healthcare, GE Healthcare, Imris Inc., Fonar Corporation, Esaote S.P.A, Neusoft Medical System, Aurora Medical Imaging, and Philips Healthcare.