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:
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.
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.
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 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.
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:
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Report Attribute |
Specifications |
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Market Size Value In 2022 |
USD 3.57 Bn |
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Revenue Forecast In 2031 |
USD 6.62 Bn |
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Growth Rate CAGR |
CAGR of 7.3% from 2023 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, Application, Product Type, Age Group, End-user |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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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 |
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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. |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
By Type-
By Application-
By Product Type-
By Age Group-
By End User-
By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & 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:
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:
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
