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Pediatric MRI Market

Pediatric MRI Market Size, Share & Trends Analysis Report By Type (Functional Brain MRI, Cardiac MRI, 4D MRI, and Others), Product Type (Equipment, Coil Design), Age Group, Application, and End User, Region And Segment Forecasts, 2023-2031

Report ID : 2043 | Published : 2024-05-17 | Pages: 180 | Format: PDF/EXCEL

The Global Pediatric MRI Market Size is valued at USD 3.57 billion in 2022 and is predicted to reach USD 6.62 billion by the year 2031 at a 7.3% CAGR during the forecast period for 2023-2031.

Key Industry Insights & Findings from the Report:

  • There is growing awareness among healthcare professionals and parents about the importance of early diagnosis and intervention in pediatric diseases.
  • MRI is extensively used in pediatric research studies and clinical trials for evaluating disease progression, treatment efficacy, and developing new therapies, thereby driving the demand for pediatric MRI systems.
  • North America dominated the market and accounted for a global revenue share in 2023.
  • A shortage of pediatric radiologists and technologists with the necessary expertise might limit the widespread adoption of pediatric MRI.

Pediatric MRI Market

Pediatric MRI radiology, a subspecialty of diagnostic radiology, is concerned with children rather than any specific imaging technique or body area. Pediatric radiology is the subspecialty of radiology that focuses on the imaging needs of children, infants, neonates, and young adults with chronic diseases. The pediatric MRI market is anticipated to develop due to increased diagnostic laboratories staffed by trained professionals, more cutting-edge radiology equipment, and a rise in financial commitments to the pediatric radiology industry.

In addition, key players' increased focus on new product development and strategic collaborations to develop cutting-edge pediatric imaging modalities should fuel market expansion. The market could be slowed by expensive installation costs and the significant radiation danger hindering market growth.

The shortage of trained workers is also slowing the expansion of the diagnostic industry in the healthcare sector. Companies involved in the pediatric MRI market can anticipate substantial development prospects and increased spending on cutting-edge technology and the introduction of new products regularly. It drives expansion globally and is expected to boost market expansion in the coming years.

Competitive Landscape

Some Of The Pediatric MRI Market Players Are:

  • Siemens Healthcare AG
  • Advanced Imaging Research Inc
  • LMT Medical Systems GmbH
  • Hyperfine Inc.
  • GE Healthcare Technologies Inc
  • Neoscan Solutions GmbH
  • Aspect Imaging Ltd
  • NORAS MRI Products GmbH
  • Koninklijke Philips NV
  • Time Medical Holding

Market Segmentation:

The pediatric MRI market is segmented based on type, application, product type, age group, and end-users. Based on type functional Brain MRI, 4D MRI, and others. Application segment includes neurology, orthopedics, cardiology, oncology, and others. By product type, the market is segmented into equipment & coil design, interchangeable pediatric brain coil, pediatric blanket coil, and others. By age group, the market is segmented into adolescents (12-18 Years), children (2-11 Years), infants & toddlers (28 Days 23 Months), neonatal stage (0-27 Days), and fetal stage. By end user, the market is segmented into hospitals, pediatric clinics, diagnostic centers, and others.

Based On The Product Type, The Equipment & Coil Design Pediatric MRI Devices Segment Is Accounted As A Major Contributor To The Pediatric MRI Market

The equipment & coil design pediatric MRI category is expected to maintain a significant global market share in 2022. It is attributed to some benefits, including safer imaging for children and pregnant women, less need for anesthesia and repeat scans, and improved patient comfort overall, but most noticeably for young patients. Pediatric MRI machines make it possible to safely position, transport, and immobilize patients with spinal injuries by using motion restriction and immobilization techniques for the cervical spine.

The Hospitals Segment Noticed Growth At A Rapid Rate.

The hospital segment is projected to improve in the global pediatric MRI market. The growing industry participants and hospitals are working more closely to improve pediatric care. Increased number of children and the need for healthcare body scan treatment, especially in countries like the US, Germany, the UK, China, and India.

In The Region, The North American Pediatric MRI Market Holds A Significant Revenue Share.

The North American pediatric MRI market is expected to report the most increased market share in revenue shortly. It can be attributed to the developments in healthcare infrastructure, an uptick in new product launches, the availability of cutting-edge diagnostic and treatment tools, and efforts to maximize patient comfort through technology innovations. In addition, the presence of key market competitors and improvements in medical technology fuel expansion in the region's industries. In addition, Asia Pacific is projected to grow in the global pediatric MRI market because of the growing young population, better pediatric MRI equipment, General advancements in pediatric healthcare and growing financial support from the business and medical communities.

Recent Developments:

  • In March 2023, Time Medical Holdingofficially opened its new production facility in the MARS Centre at Tai Po INNOPARK, Hong Kong. This facility is the largest MRI production base in Southeast Asia and the Greater Bay Area, and it is the first large-scale facility for producing medical equipment in Hong Kong. The production plant focuses on research and development as well as manufacturing high-value-added superconductor MRI systems for breast and newborn screening.

Pediatric MRI Market Report Scope

Report Attribute

Specifications

Market Size Value In 2022

USD 3.57 Bn

Revenue Forecast In 2031

USD 6.62 Bn

Growth Rate CAGR

CAGR of 7.3% from 2023 to 2031

Quantitative Units

Representation of revenue in US$ Bn and CAGR from 2023 to 2031

Historic Year

2019 to 2022

Forecast Year

2023-2031

Report Coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments Covered

By Type, Application, Product Type, Age Group, End-user

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia

Competitive Landscape

Siemens Healthcare AG, Advanced Imaging Research Inc, LMT Medical Systems GmbH, Hyperfine Inc., GE Healthcare Technologies Inc, Neoscan Solutions GmbH, Aspect Imaging Ltd, NORAS MRI Products GmbH, Koninklijke Philips NV, and Time Medical Holding.

Customization Scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing And Available Payment Methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Pediatric MRI Market Snapshot

Chapter 4. Global Pediatric MRI Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: By Type Estimates & Trend Analysis
5.1. By Type, & Market Share, 2020 & 2031
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Type:

5.2.1. Functional Brain MRI
5.2.2. Cardiac MRI
5.2.3. 4D MRI
5.2.4. Others

Chapter 6. Market Segmentation 2: By Product Type Estimates & Trend Analysis
6.1. By Product Type & Market Share, 2020 & 2031
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Product Type:

6.2.1. Equipment
6.2.2. Coil Design
6.2.2.1. Pediatric Head/Neck/Spine MRI Coil
6.2.2.2. Interchangeable Pediatric Brain Coil
6.2.2.3. Pediatric Blanket Coil
6.2.2.4. Others

Chapter 7. Market Segmentation 3: By Age Group Estimates & Trend Analysis
7.1. By Age Group & Market Share, 2020 & 2031
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Age Group:

7.2.1. Adolescent (12–18 Years)
7.2.2. Child (2–11 Years)
7.2.3. Infants and Toddlers (28 Days–23 Months)
7.2.4. Neonatal Stage (0–27 Days)
7.2.5. Fetal Stage

Chapter 8. Market Segmentation 4: By End-User Estimates & Trend Analysis
8.1. By End-User & Market Share, 2020 & 2031
8.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By End-User:

8.2.1. Hospitals
8.2.2. Pediatric Clinics
8.2.3. Diagnostic Centers
8.2.4. Others

Chapter 9. Market Segmentation 5: By Application Estimates & Trend Analysis
9.1. By Application & Market Share, 2020 & 2031
9.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Application:

9.2.1. Neurology
9.2.2. Orthopedics
9.2.3. Cardiology
9.2.4. Oncology
9.2.5. Others

Chapter 10. Pediatric MRI Market Segmentation 6: Regional Estimates & Trend Analysis

10.1. North America

10.1.1. North America Pediatric MRI Market revenue (US$ Million) estimates and forecasts By Type, 2019-2031
10.1.2. North America Pediatric MRI Market revenue (US$ Million) estimates and forecasts By Product Type, 2019-2031
10.1.3. North America Pediatric MRI Market revenue (US$ Million) estimates and forecasts By Age Group, 2019-2031
10.1.4. North America Pediatric MRI Market revenue (US$ Million) estimates and forecasts By End-User, 2019-2031
10.1.5. North America Pediatric MRI Market revenue (US$ Million) estimates and forecasts By Application, 2019-2031
10.1.6. North America Pediatric MRI Market revenue (US$ Million) estimates and forecasts by country, 2019-2031

10.2. Europe

10.2.1. Europe Pediatric MRI Market revenue (US$ Million) estimates and forecasts by Type, 2019-2031
10.2.2. Europe Pediatric MRI Market revenue (US$ Million) estimates and forecasts by Product Type, 2019-2031
10.2.3. Europe Pediatric MRI Market revenue (US$ Million) estimates and forecasts by Age Group, 2019-2031
10.2.4. Europe Pediatric MRI Market revenue (US$ Million) estimates and forecasts by End-User, 2019-2031
10.2.5. Europe Pediatric MRI Market revenue (US$ Million) estimates and forecasts by Application, 2019-2031
10.2.6. Europe Pediatric MRI Market revenue (US$ Million) estimates and forecasts by country, 2019-2031

10.3. Asia Pacific

10.3.1. Asia Pacific Pediatric MRI Market revenue (US$ Million) estimates and forecasts by Type, 2019-2031
10.3.2. Asia Pacific Pediatric MRI Market revenue (US$ Million) estimates and forecasts by Product Type, 2019-2031
10.3.3. Asia Pacific Pediatric MRI Market revenue (US$ Million) estimates and forecasts by Age Group, 2019-2031
10.3.4. Asia Pacific Pediatric MRI Market revenue (US$ Million) estimates and forecasts by End-User, 2019-2031
10.3.5. Asia Pacific Pediatric MRI Market revenue (US$ Million) estimates and forecasts by Application, 2019-2031
10.3.6. Asia Pacific Pediatric MRI Market revenue (US$ Million) estimates and forecasts by country, 2019-2031

10.4. Latin America

10.4.1. Latin America Pediatric MRI Market revenue (US$ Million) estimates and forecasts by Type, (US$ Million) 2019-2031
10.4.2. Latin America Pediatric MRI Market revenue (US$ Million) estimates and forecasts by Product Type, (US$ Million) 2019-2031
10.4.3. Latin America Pediatric MRI Market revenue (US$ Million) estimates and forecasts by Age Group, (US$ Million) 2019-2031
10.4.4. Latin America Pediatric MRI Market revenue (US$ Million) estimates and forecasts by End-User, (US$ Million) 2019-2031
10.4.5. Latin America Pediatric MRI Market revenue (US$ Million) estimates and forecasts by Application, (US$ Million) 2019-2031
10.4.6. Latin America Pediatric MRI Market revenue (US$ Million) estimates and forecasts by country, 2019-2031

10.5. Middle East & Africa

10.5.1. Middle East & Africa Pediatric MRI Market revenue (US$ Million) estimates and forecasts by Type, (US$ Million) 2019-2031
10.5.2. Middle East & Africa Pediatric MRI Market revenue (US$ Million) estimates and forecasts by Product Type, (US$ Million) 2019-2031
10.5.3. Middle East & Africa Pediatric MRI Market revenue (US$ Million) estimates and forecasts by Age Group, (US$ Million) 2019-2031
10.5.4. Middle East & Africa Pediatric MRI Market revenue (US$ Million) estimates and forecasts by End-User, (US$ Million) 2019-2031
10.5.5. Middle East & Africa Pediatric MRI Market revenue (US$ Million) estimates and forecasts by Application, (US$ Million) 2019-2031
10.5.6. Middle East & Africa Pediatric MRI Market revenue (US$ Million) estimates and forecasts by country, 2019-2031

Chapter 11. Competitive Landscape
11.1. Major Mergers and Acquisitions/Strategic Alliances
11.2. Company Profiles

11.2.1. Siemens Healthineers AG,
11.2.2. Advanced Imaging Research Inc,
11.2.3. LMT Medical Systems GmbH,
11.2.4. Hyperfine Inc,
11.2.5. GE HealthCare Technologies Inc,
11.2.6. Neoscan Solutions GmbH,
11.2.7. Aspect Imaging Ltd,
11.2.8. NORAS MRI products GmbH,
11.2.9. Koninklijke Philips NV,
11.2.10. Time Medical Holding

Segmentation of Pediatric MRI Market-

By Type-

  • Functional Brain MRI
  • Cardiac MRI
  • 4D MRI
  • Others

 

By Application-

  • Neurology
  • Orthopedics
  • Cardiology
  • Oncology
  • Others

By Product Type-

  • Equipment
  • Coil Design
    • Pediatric Head/Neck/Spine MRI Coil
    • Interchangeable Pediatric Brain Coil
    • Pediatric Blanket Coil,
    • Others

By Age Group-

  • Adolescent (12-18 Years)
  • Child (2-11 Years)
  • Infants & Toddlers (28 Days -23 Months)
  • Neonatal Stage (0-27 Days)
  • Fetal Stage

By End User-

  • Hospitals
  • Pediatric clinics
  • Diagnostic centers
  • Others

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of the Middle East and Africa

 

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.4456

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Frequently Asked Questions

How big is the Pediatric MRI Market Size?

The Global Pediatric MRI Market is expected to grow at a 7.3% CAGR during the forecast period for 2023-2031.

Siemens Healthcare AG, Advanced Imaging Research Inc, LMT Medical Systems GmbH, Hyperfine Inc., GE Healthcare Technologies Inc, Neoscan Solutions GmbH

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