Canada MRI market is anticipated to
witness impressive growth during the forecast period. This can be
ascribed to the growing geriatric population and increasing prevalence of
chronic diseases such as cancer and cardiovascular diseases across the region.
Similarly, the presence of some of the key companies operating in the MRI
market in Canada are continuously improving their product offering and are also
engaged in various other business expansion measures such as collaborations and
mergers and acquisitions. This further drives the growth of Canada MRI market during
the forecast period. In February 2021, ReGen Scientific, which
offers personalized, preventative, and regenerative health, became the first
comprehensive health clinic in Canada to bring Synaptive Medical’s Evry, a
superconducting 0.5T head magnetic resonance imaging (MRI) system intended to
provide MRI directly at the point-of-care, to their downtown Toronto location.
Increasing Prevalence of Chronic
Diseases
The increasing prevalence of chronic
diseases is a significant driver of the MRI (Magnetic Resonance Imaging) market
in Canada. Chronic diseases, such as cancer, cardiovascular diseases, and
neurological disorders, often require advanced diagnostic imaging tools like
MRI to accurately diagnose and monitor the disease. MRI is particularly useful
in detecting and monitoring the progression of chronic diseases and can help
physicians make informed decisions about treatment options. As the incidence of
chronic diseases continues to rise in Canada, the demand for advanced
diagnostic imaging technologies like MRI is likely to grow. This is because MRI
provides high-quality images of the internal structures of the body, which is
essential in diagnosing and monitoring chronic diseases accurately. Moreover,
as the Canadian population ages, the prevalence of chronic diseases is likely
to increase further, creating a greater need for MRI technology. MRI is
particularly useful in diagnosing age-related conditions, such as arthritis and
dementia, which are more prevalent in older adults.
Growing Aging Population
The growing aging population in Canada
is a significant driver of the MRI (Magnetic Resonance Imaging) market in the
country. As the population ages, the incidence of age-related diseases such as
arthritis, dementia, and cancer increase. These conditions often require
advanced diagnostic imaging technologies like MRI to accurately diagnose and
monitor the disease. MRI is particularly useful in diagnosing and monitoring
age-related conditions. For instance, MRI can be used to detect and track the
progression of osteoarthritis, a common joint disease that affects older
adults. Moreover, MRI can be used to diagnose and monitor dementia, a group of
conditions that affect brain function and are more prevalent in older adults. As
the Canadian population continues to age, the demand for MRI technology is
likely to grow. This is because MRI is an essential diagnostic tool for age-related
conditions and can help physicians make informed decisions about treatment
options. Moreover, as the aging population grows, the demand for healthcare
services is likely to increase, driving the demand for MRI machines and related
services.
Technological Advancements
Technological advancements are a
significant driver of the MRI (Magnetic Resonance Imaging) market in Canada. As
MRI technology continues to evolve, newer machines offer improved diagnostic
capabilities, faster scan times, and higher resolution images. Technological
advancements in MRI have led to the development of machines with improved
diagnostic capabilities. These machines can provide more detailed and accurate
images of the internal structures of the body, enabling physicians to make more
informed diagnoses and treatment decisions. Technological advancements have
also led to the development of MRI machines with faster scan times. This has
several benefits, including reduced wait times for patients and increased
efficiency in healthcare delivery. Newer MRI machines also offer higher
resolution images, which can improve the accuracy of diagnoses and reduce the
need for additional diagnostic tests. Technological advancements in MRI have
led to the development of machines that are more comfortable for patients. For
instance, newer machines are quieter and have more open designs, reducing the
feeling of claustrophobia that some patients experience during the scan. Technological
advancements have also led to the development of MRI machines that are more
cost-effective. This can increase access to advanced diagnostic imaging
technology, particularly in rural and remote areas.
Government Initiatives
Government initiatives are a significant
driver of the MRI market in Canada. The Canadian government has taken several
initiatives to improve access to MRI technology and support the growth of the
market. The Canadian government has made significant investments in healthcare
infrastructure, including the development of new hospitals and clinics. These
facilities often include advanced diagnostic imaging technologies like MRI,
which can improve healthcare outcomes and drive demand for MRI machines. The
Canadian government provides funding for research and development of new MRI
technologies. This support has led to the development of new machines with
improved capabilities, which can drive demand for newer and more advanced
machines. The Canadian government has established regulations and standards for
the use of MRI technology in healthcare. These regulations ensure that MRI
machines meet certain safety and performance standards, which can improve the
quality of care and increase patient confidence in the technology. The Canadian
government has established reimbursement policies that provide financial
support for MRI services. This support can increase access to MRI technology,
particularly for patients who may not be able to afford the cost of the scan. The
Canadian government conducts health technology assessments to evaluate the
effectiveness and cost-effectiveness of new medical technologies, including
MRI. These assessments can provide valuable information for healthcare
providers and policymakers when making decisions about investing in new
technology.
Increasing Healthcare Expenditure
Increasing healthcare expenditure is a
significant driver of the market in Canada. As healthcare expenditure
increases, healthcare providers can invest in advanced diagnostic imaging
technologies like MRI, driving the demand for MRI machines and related services.
As healthcare expenditure increases, the demand for healthcare services is
likely to grow. This can drive demand for advanced diagnostic imaging
technologies like MRI as healthcare providers seek to provide better healthcare
services to patients. Increasing healthcare expenditure can also lead to
investments in healthcare infrastructure, including the development of new
hospitals and clinics. These facilities often include advanced diagnostic
imaging technologies like MRI, which can drive demand for newer and more
advanced machines. Increasing healthcare expenditure can also improve access to
MRI services, particularly for patients who may not be able to afford the cost
of the scan. This can drive demand for MRI services and increase the utilization
of MRI machines. Increasing healthcare expenditure can also lead to growing
private sector investment in healthcare. This can drive demand for advanced
diagnostic imaging technologies like MRI, as private healthcare providers seek
to offer more comprehensive healthcare services. Increasing healthcare
expenditure can also support research and development of new MRI technologies.
This can lead to the development of newer and more advanced MRI machines with
improved diagnostic capabilities, which can drive demand for newer machines.
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Recent Developments
- SIGNA
Explorer MRI System- In 2021, GE Healthcare launched the SIGNA Explorer
MRI system in Canada. This machine is equipped with advanced AI-powered
software that can improve image quality, increase scan speed, and reduce
artifacts. It also features a patient-friendly design that can help reduce
patient anxiety during the scan.
- Vantage
Orian 1.5T MRI System- In 2019, Canon Medical Systems launched the Vantage
Orian 1.5T MRI system in Canada. This machine is designed to provide
high-quality imaging while reducing scan time and improving patient
comfort. It features a wide, open bore design that can accommodate larger
patients and reduce the feeling of claustrophobia.
- Ingenia
Ambition X MRI System - In 2018, Philips Healthcare launched the Ingenia
Ambition X MRI system in Canada. This machine features a fully sealed
BlueSeal magnet that can reduce the risk of helium leaks and improve
safety. It also features a digital platform that can enhance image quality,
reduce scan times, and increase patient comfort.
Market
Segmentation
Canada MRI market can be segmented by field
strength, type, architecture, application, end user, and region. Based on field
strength, Canada MRI market can be segmented into high-field
MRI systems (1.5t MRI systems, 3t MRI systems), low-to-mid-field MRI systems
(<1.5t), and very-high-field MRI systems (4t and above). Based on type, Canada
MRI market can be divided into fixed and mobile. Based on architecture, Canada MRI
market can be divided into closed MRI systems and open MRI systems. Based on application,
Canada MRI market can be segmented into cancer brain and neurological,
oncology, spine and musculoskeletal, abdominal, cardiac, and others. Based on end
user, Canada MRI market can be segmented into hospitals, imaging centers,
ambulatory surgical centers, and others.
Market Players
GE Healthcare Canada Inc, Philips Canada
Ltd., Siemens Healthcare Diagnostics Ltd/Canada, Canon Medical Systems Corp,
Hitachi Solutions Canada Ltd, Hologic Inc, and Aurora Imaging Technology Inc are
some of the leading players operating in the Canada MRI market.
|
Attribute
|
Details
|
|
Base
Year
|
2022
|
|
Historic Data
|
2018 –
2021
|
|
Estimated
Year
|
2023
|
|
Forecast Period
|
2024
– 2028
|
|
Quantitative
Units
|
Revenue
in USD Million, Volume, and CAGR for 2018-2022 and 2023-2028
|
|
Report Coverage
|
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
|
Field
Strength
Type
Architecture
Application
End
User
Region
|
|
Regional Scope
|
Ontario,
Quebec, Alberta, British Columbia, Saskatchewan and Manitoba, Rest of Canada
|
|
Key
Companies Profiled
|
GE
Healthcare Canada Inc, Philips Canada Ltd., Siemens Healthcare Diagnostics
Ltd/Canada, Canon Medical Systems Corp, Hitachi Solutions Canada Ltd, Hologic
Inc, Aurora Imaging Technology Inc.
|
|
Customization Scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and Purchase Options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery Format
|
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
|
Report
Scope:
In this
report, the Canada MRI market has been segmented into the following categories,
in addition to the industry trends which have also been detailed below:
- Canada MRI Market, By Field
Strength:
o High-Field MRI Systems (1.5t MRI Systems, 3t MRI Systems)
o Low-To-Mid-Field MRI Systems (<1.5t)
o Very-High-Field MRI Systems (4t and above)
- Canada MRI Market, By Type:
o Fixed
o Mobile
- Canada MRI Market, By Architecture:
o Closed MRI Systems
o Open MRI Systems
- Canada MRI Market, By Application:
o Brain and Neurological
o Oncology
o Spine and Musculoskeletal
o Abdominal
o Cardiac
o Others
- Canada MRI Market, By End User:
o Hospitals
o Imaging Centers
o Ambulatory Surgical Centers
o Others
- Canada MRI Market, By Region:
o
Ontario
o Quebec
o Alberta
o British Columbia
o Saskatchewan and Manitoba
o Rest of Canada
Competitive
Landscape
Company
Profiles: Detailed analysis of the major
companies present Canada MRI Market.
Available
Customizations:
With
the given market data, TechSci Research offers customizations according to a
company’s specific needs. The following customization options are available for
the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
Canada MRI Market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]