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Sunday, 14 April 2024
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Pediatric MRI Market is expected to reach US$ 5,678.86 million by 2028

The global Pediatric MRI market size is projected to grow from USD 3,655.32 million in 2022 to USD 5,678.86 million by 2028.

By The Insight Partners

Neurology Segment, by Application, to Lead Global Pediatric MRI Market During 2022–2028

According to our new research study on “Pediatric MRI Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, Product Type, Age Group, and End User,” the pediatric MRI market is expected to grow from US$ 3,655.32 million in 2022 to US$ 5,678.86 million by 2028; it is estimated to register a CAGR of 7.6% during 2022–2028. Key factors driving the pediatric MRI market growth include the rising cases of premature births and pediatric disease and the adoption of digital health technology to improve patient care.
 
Based on application, the pediatric MRI market is segmented into cardiology, orthopedics, neurology, oncology, and others. The neurology segment held the largest share of the market in 2022 and is anticipated to register a CAGR of 8.3% in the pediatric MRI market during the forecast period. The advent of magnetic resonance imaging has proven to be a powerful tool for investigating diseases of the central nervous system. For injuries and disorders of the brain, neck, spine, and nervous systems, neuroimaging helps in ensuring accuracy. Pediatric neuroimaging involves a layer of specialization, as there are many intricacies involved with the brain development. The neurological applications of magnetic resonance imaging include the diagnosis of spinal cord and brain tumors, inflammation, infections, injuries, and others. MRI is also helpful in detecting and monitoring degenerative neurological disorders such as multiple sclerosis and documenting brain injury resulting from trauma. The simultaneous multi-slice function is helpful to accelerate the advanced neurological applications for clinical routine. Magnetic resonance imaging provides exquisite details of the spinal cord, brain, and vascular anatomy. However, due to strong magnets, precautions must be taken for patients with specific implanted devices—such as cochlear implants and pacemakers. Thus, the above-mentioned factors support the pediatric MRI market growth for the neurology segment.

Pediatric MRI Market, by Region, 2022(%)

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00023977 Source: The Insight Partners Analysis

Impact of COVID-19 Pandemic on Pediatric MRI Market

The global economy was severely affected due to the COVID-19 pandemic. Due to the pandemic, many treatments and appointments of doctors/surgeons were canceled. A study by the Radiological Society of North America published in September 2020 stated that the COVID-19 pandemic significantly impacts pediatric radiology departments in the US. More than 90% of study respondents indicated that radiology practices had undergone a complete change in the pandemic. During the pandemic, the number of accesses to the pediatric emergency department sharply decreased by 30% in Italy. The patients requiring critical surgeries such as neurosurgery, spinal surgery, and ENT surgery needed physical attention. Hence, there was a necessity to implement procedures in the clinics. Therefore, the COVID-19 pandemic had a substantial negative impact on the pediatric MRI market growth.  

Siemens Healthineers 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 are among the leading companies operating in the pediatric MRI market. 

Based on type, the pediatric MRI market is segmented into functional brain MRI (fMRI), cardiac MRI, 4D MRI, and others. In terms of application, the pediatric MRI market is segmented into cardiology, orthopedics, neurology, oncology, and others. The pediatric MRI market, by product type, is bifurcated into equipment and coil design. Based on age group, the pediatric MRI market is segmented into fetal stage, neonatal stage (0–27 days), infant and toddler (28 days–23 months), child (2–11 years), and adolescent (12–18 years). By end user, the pediatric MRI market is segmented into hospitals, pediatric clinics, diagnostic centers, and others. By geography, the pediatric MRI market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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