Global Pediatric Magnetic Resonance Imaging (MRI) Market - 2022-2029

Global Pediatric Magnetic Resonance Imaging (MRI) Market - 2022-2029
Market Overview

Pediatric Magnetic Resonance imaging (MRI) market size is estimated to reach USD million by 2029, growing at a CAGR of 7.5 % during the forecast period (2022-2029).

Pediatric Magnetic Resonance Imaging, or MRI, is a machine that takes photographs with a circular tunnel in the center. Without radiation, an MRI creates specialized two-dimensional and three-dimensional images of your child's body. Blood vessels, Bone marrow, Brain, Soft tissue, muscle, ligaments, tendons and cartilage, and Spine are just a few of the tissues and organs observed with an MRI for children.

Market Dynamics

Increasing Pediatric Coaching to enhance MR imaging for young children is expected to drive market growth.

Philips Pediatric Coaching, a complete service designed to make MRI scans less stressful for parents and their children, was launched by Royal Philips, a global pioneer in health technology. The technology helps guide young children through the MRI procedure by using gamification and 'buddy system' tactics to train children and their parents beforehand. This dramatically improves the patient experience. Pediatric Coaching is the newest effort in Philips Ambient Experience's portfolio, including a wide range of targeted solutions to assist patients and employees have a better experience. Moreover, Philips and Disney have announced a collaboration to test the effects of custom-made animation, including specially-created Disney stories, within Philips Ambient Experience. This solution integrates architecture, design, and enabling technologies, such as dynamic lighting, video projections, and sound to allow patients and staff to personalize their environment during pediatric MRI scans to create a relaxing environment. Thus, from the above statements, the market is expected to drive in the forecast period.

Limitations of Pediatric MRI are expected to hamper the market growth.

Difficult for the kid to lie motionless during imaging if they are anxious, confused, or in significant discomfort. Very large may not fit into the opening of certain MRI machines, and the presence of an implant or other metallic object sometimes makes it difficult to obtain clear images. Patient movement can have the same effect. Moreover, a very irregular heartbeat may affect the quality of images obtained using techniques that time the imaging based on the heart's electrical activity, such as electrocardiography (ECG). An MRI exam costs more and may take longer than other imaging exams. Thus, from the above statements, the market is expected to get hampered in the forecast period.

Industry Analysis

The pediatric magnetic resonance Imaging (MRI) market provides in-depth analysis of the market based on various industry factors such as porter’s five forces, supply chain analysis, reimbursement scenario, product innovation, pricing analysis, etc.

COVID-19 Impact Analysis

The COVID-19 pandemic has moderately impacted healthcare systems and the market. Children are rarely directly harmed by COVID-19 infection, but they may suffer due to not receiving conventional healthcare. A decline in attendance for routine outpatient activity has been observed at several children's hospitals, with some of these sessions being relocated online through virtual clinic appointments. According to the Royal College of Pediatrics and Child Health, about half of National Health Service trusts reported a decline in inpatient pediatric activity, and 65 percent–84 percent of hospital trusts reported a loss of pediatric outpatient capacity. Moreover, During the COVID-19 period, Parental anxiety about traveling during a lockdown, their children's perceived well-being, a possible increase in mental health issues, or difficulty coping with normal duties could all be factors.

Additionally, the pandemic interrupts the supply chain and process. Many companies will vary to other geographic regions to ensure that products remain available and protect their supply chain. Thus, from the above statements, the market got affected, and it is expected to gain traction quickly with the resumption of the economic activities.

Segment Analysis

Functional Brain MRI segment is expected to hold the largest market share in pediatric magnetic resonance Imaging (MRI) market

The functional brain MRI segment is expected to dominate in 2021. The segment is beneficial because Functional MRI is a fascinating technology in neuroscience. The areas of language and other mental processes are displaced in lesions created before birth, such as blood vessel anomalies and some malignancies. The actual location of the functions and their spatial interaction with the lesions can be seen using fMRI. In addition, the area used for the movement of the right fingers in a tapping exercise is shown in color on fMRI. This allows the neurosurgeon to remove the lesion without eliminating the area that allows the hand to move. Therefore, Over the last decade, fMRI has focused on three topics that have gotten much attention and are particularly relevant to pediatric neurology: language organization and development, brain plasticity, and neurobehavioral disorders. Thus, from the above statements, the market segment is expected to hold the largest market share in the forecast period.

Geographical Analysis

North America region holds the largest market share in the global pediatric magnetic resonance imaging (MRI) market

In 2021, North America accounted for the highest revenue share. The increasing prevalence of traumatic injuries in children, technological advancement in MRI machines, well-established infrastructure, and rising adoption of pediatric MRI are some factors the market is expected to boost in the forecast period. For instance, In the United States, traumatic brain injury (TBI) is the greatest cause of mortality and disability among children and young adults. TBI affects an estimated 1.5 million Americans each year. Two hundred thirty thousand people are hospitalized and live due to these injuries.

Moreover, according to the Centers for Disease Control and Prevention (CDC), the United States reports 697,347 annual TBIs in children ages 0–19 that result in emergency room visits, hospitalization or deaths. Embrace is the first dedicated Neonatal MRI system to be FDA 510(k) certified, and CE marked for use in the neonatal intensive care unit. Infants can be scanned at any moment, within minutes of receiving the order, to give important information for faster diagnosis and treatment while eliminating the hazards involved with the off-unit evacuation of these critically ill, priceless patients. Thus, from the above statements, the North American region is expected to hold the largest market share in the forecast period.

Competitive Landscape

Major key players in the pediatric magnetic resonance imaging (MRI) market are Siemens Healthineers AG, Hamilton Medical, Neoscan Solutions GmbH, Hyperfine, LMT Medical Systems GmbH, Advanced Imaging Research dba SREE Medical Systems, General Electric Company, Champaign Imaging.

Hamilton Medical:

Overview:

Hamilton Medical is a family-owned business run by the second and third generations of the Hamilton family. It offers an extensive range of accessories and consumables. The company's mechanical ventilators have the same standardized user interface and use the same Intelligent Ventilation technologies. The ventilation portfolio includes peripheral devices: an active humidifier, the HAMILTON-H900, and the automatic cuff pressure controller, IntelliCuff. Both devices are used with all kinds of mechanical ventilators. Moreover, the company's products are suitable for many different areas of application, including Adult and pediatric intensive care, neonatal intensive care, Critical care transport, MRI suite, long-term acute care and more.

Product Portfolio:

HAMILTON-MR1: With the use of 1.5 Tesla and 3.0 Tesla static magnetic field scanners, MR-Conditional can be achieved. Even during MRI scans, the ventilator can stay close to the patient. Adult, pediatric, and neonatal ventilation are all types of ventilation, and battery life can last up to 9 hours.

The global pediatric magnetic resonance Imaging (MRI) market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.