According to the latest research by FMI, Portable MRI Market are set to witness a high growth of CAGR 6.8% during the year 2021-2031.
Portable MRI is an emerging tool during the COVID-19 pandemic. The introduction of low cost solutions in terms of portable MRI scanners is expected to enable new point-of-care and monitoring applications. With existing MRI scanners in centralized settings, accessibility and reduction of cost is primal.
Upcoming advancements in computational technology, hardware as well as expanding scanning-based technology industry in developing economies is set to effectively lead towards boosting sales of portable MRI.
Factors associated with the compatible applications of portable MRI in hospital environment and the reduced risk associated with lower magnetic strength of portable MRI are set to advance imaging services with expense mitigation, globally.
Portable MRI sales are expected to greater expansion over the forecast period owing to the strength of the factors mentioned above.
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What is Driving Demand for Portable MRI?
The demand for portable MRI is driven by the premise of expansive reach of MRI through cost reduction. The applications of portable MRI provide support in terms of cost, sitting and operational burdens which is directly applicable to benefitting the overall healthcare development by increasing the access to MRI examinations for a larger number of patients. Additionally, portable MRI yields a higher rate of use with varied applications.
Not to mention, in cases of acute neurological settings, the application of portable MRI will positively impact patient health with non-invasive and time-sensitive neuroimaging. The benefits of this approach can potentially be employed in the assessment of neurological injury in various medical setups, including environments with limited resources.
Which Factors are likely to Augment Growth of Portable MRI?
Technological advancements in terms of MRI scanners, especially specialty scanners has introduced a unique method of imaging. The costs associated with such scanners exhibited sub-optimal commercialization as compared to the prevailing models. The augmentative factor which provides leverage to portable MRI sales is the ease of access and potential for commercialization because of the advent of the COVID-19 pandemic.
U.S. and Canada Portable MRI Outlook
Introduction of COVID-19 pandemic over the globe impacted the magnetic resonance departments across the United States in terms of reduced procedure volume. The region of North America is expected to exhibit growth in terms of portable MRI sales over the forecast period. The growth is catalyzed by the increasing patient pool in the region as well globally, and rising awareness towards early diagnosis of diseases.
To quote health information provided by the Govt. of Canada on their website “44% of adults 20+ have at least 1 of 10 common chronic conditions”. Portable MRI demand in Canada is expected to increase over the forecast period owing to the rising prevalence of chronic diseases and growing geriatric population.
Europe Demand Outlook for Portable MRI
The region of Europe is projected to occupy a large share after North America in the adoption of portable MRI due to the rising prevalence of chronic diseases in the region, as well as increasing technological advancements, resulting in high demand for medical imaging devices.
The growth is also associated with the growing popularity of teleconsultation and teleradiology in the region, especially in countries like Germany. Demand of portable MRI in the region is lucrative and based upon the premise to fight cancer by employing cost-efficient and accessible diagnostic imaging solutions.
Who are the Key Manufacturers and Suppliers of Portable MRI?
Key companies operating in manufacturing and supply of Portable MRI are
- GE Healthcare
- Siemens Healthineers
- Philips Healthcare
- Canon Medical Systems
- Hyperfine
- Voxelgrids
- PrizMed Imaging.
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