Portable Magnetic Resonance Imaging Market to Grow with a CAGR of 7.89% through 2029
Growing
prevalence of chronic diseases is expected to drive the Global Portable
Magnetic Resonance Imaging Market growth in the forecast period, 2025-2029
According to
TechSci Research report, “Portable Magnetic Resonance Imaging Market –
Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2029F”, the Global Portable Magnetic Resonance Imaging Market
stood at USD 2.79 Billion in 2023 and is anticipated to grow with a CAGR of 7.89%
through 2029.
Technological advancements have been pivotal in advancing portable MRI devices. Miniaturization of components, improvements in magnet design, and enhanced image reconstruction algorithms have all contributed to their improved performance and portability. Innovations like lightweight magnets, compact radiofrequency coils, and sophisticated software algorithms empower healthcare providers to conduct precise imaging studies at the point of care, enhancing diagnostic accuracy and patient outcomes.
The global rise in chronic diseases, including neurological disorders, musculoskeletal injuries, and cardiovascular conditions, underscores the importance of portable MRI technology in early detection, monitoring, and management. With an aging population and increasing prevalence of chronic illnesses globally, the demand for portable MRI systems is expected to grow significantly.
The expansion of remote monitoring and telemedicine drives substantial growth in the global portable MRI market. Technological progressions, such as component miniaturization, improved image quality, and integration of artificial intelligence, further augment the capabilities of portable MRI devices in remote healthcare settings. Moreover, supportive regulatory frameworks and reimbursement policies incentivizing the use of portable MRI in telemedicine applications will propel market expansion.
The growing emphasis on point-of-care diagnostics has spurred the adoption of portable MRI systems across diverse clinical settings. These compact imaging devices offer flexibility for conducting diagnostic studies directly at the patient's bedside, in emergency departments, or even in remote and underserved areas. By eliminating the need for patient transportation to centralized imaging facilities, portable MRI technology facilitates prompt diagnosis and treatment initiation, particularly in critical care scenarios.
The demand for point-of-care imaging solutions is on the rise, driven by the necessity for immediate diagnosis and treatment decisions. Portable MRI devices are increasingly sought after due to their ability to provide on-site imaging, eliminating the need for patients to be transported to centralized imaging facilities. This trend is fueled by the benefits of point-of-care imaging, including shorter wait times, better patient outcomes, and cost-effectiveness. It underscores the growing demand for portable MRI devices capable of delivering high-quality imaging results across various healthcare settings.
Continuous technological advancements in the field of portable MRI are leading to the development of more compact and lightweight devices without compromising imaging quality. Innovations in magnet design, gradient systems, and radiofrequency coils have enabled the miniaturization of portable MRI systems. These advancements offer improved portability, ease of use, and enhanced patient comfort. The market trend highlights the demand for portable MRI devices that combine advanced imaging capabilities with a compact and user-friendly design.
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The Global Portable
Magnetic Resonance Imaging Market is segmented into application,
end-user, regional distribution, and company.
Based on the end-user,
hospitals segment emerged as the dominant segment in the global portable
magnetic resonance imaging market in 2023. Hospitals are crucial healthcare hubs tasked with diagnosing and treating a wide spectrum of medical conditions, spanning acute to chronic ailments. Within this context, diagnostic imaging services, including MRI scans, are vital for informing clinical decisions and managing patient care effectively. Portable MRI technology presents hospitals with notable advantages over traditional stationary MRI machines. These portable devices boast compact, lightweight designs, and flexibility, facilitating enhanced mobility and accessibility within hospital premises. Consequently, healthcare providers can conduct imaging studies directly at the patient's bedside, in emergency departments, operating rooms, and intensive care units, eliminating the logistical challenge of transporting patients to centralized imaging facilities.
North America emerged
as the dominant player in the global portable magnetic resonance imaging market
in 2023, holding the largest market share. North America's prominence in the portable MRI market stems from the presence of key manufacturers and technology innovators in the region. These companies are leaders in medical imaging technology research and development, propelling innovation and advancements in portable MRI devices. They benefit from access to cutting-edge research facilities, highly skilled personnel, and supportive regulatory environments, all of which facilitate the efficient development and commercialization of medical devices.
Major companies
operating in Global Portable Magnetic Resonance Imaging Market are:
- Hyperfine
Inc
- Canon
Medical Systems Corporation
- Voxelgrids
Innovations Pvt. Ltd.
- PrizMed
Imaging
- Siemens
Healthineers AG
- Cobalt
Health
- GE
Healthcare Technologies Inc
- Koninklijke
Philips NV
- JMP
Medical
- Hitachi Ltd
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“The Global Portable
Magnetic Resonance Imaging Market is poised for significant growth in the
coming years. Technological advancements, such as miniaturization of components
and integration of artificial intelligence, enhance the performance and
capabilities of portable MRI devices, improving diagnostic accuracy and
efficiency. Also, the increasing demand for point-of-care diagnostics, fueled
by the need for timely and accessible imaging solutions, drives market
expansion. Additionally, the rising prevalence of chronic diseases, coupled
with the shift towards preventive and personalized medicine, underscores the
importance of portable MRI technology in early detection and personalized
treatment planning. Moreover, expanding applications of portable MRI in diverse
healthcare settings, including emergency departments, ambulatory care centers,
and remote locations, contribute to market growth”, said Mr. Karan Chechi,
Research Director of TechSci Research, a research-based management consulting
firm.
“Portable Magnetic Resonance Imaging Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Application (Neurology, Musculoskeletal, Gastroenterology, Others), By End-User (Hospitals, Diagnostic Centers, Ambulatory Surgery Centers, Others) Region and Competition, 2019-2029F”,
has evaluated the future growth potential of Global Portable Magnetic Resonance
Imaging Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Portable Magnetic
Resonance Imaging Market.
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