Asia Pacific Open System MRI - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Asia Pacific Open System MRI - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Asia Pacific Open System MRI Market size is estimated at USD 338.09 million in 2024, and is expected to reach USD 491.5 million by 2029, growing at a CAGR of 7.77% during the forecast period (2024-2029).

Open systems are preferred systems for scanning infants and can accommodate overweight and obese patients also. Hospitals and diagnostic centers prefer to purchase open systems as they allow diagnostic imaging of a variety of conditions. These systems have a small risk of panic attacks and claustrophobia, leading to widespread acceptance of these programs by patients with these conditions.

The growth of this open MRI systems market can be attributed to the increasing geriatric population and rising prevalence of cancer in the region. According to estimates of Johnson and Johnson, Asia pacific has 50% of the world's cancer burden in the year 2020 and is expected to increase by 36% for 2030. However, the growing disease burden, and increasing application of the MRI system, and the advantages of the open MRIs are boosting the market growth in the region. Therefore all these factors are supporting the Asia Pacific Open System MRI market.

Asia Pacific Open System MRI Market Trends

Application in Neurology is Expected to Dominate the Asia Pacific Open System MRI Market

The neurological uses of MRI systems include the diagnosis of brain and spinal cord tumors, infection, and vascular irregularities, which may lead to stroke. MRI can also detect the disorders, along with performing the monitoring of degenerative disorders, such as multiple sclerosis, and it can even document brain injury from trauma. Other abnormalities that are often diagnosed include brain aneurysms, stroke, tumors of the brain, as well as tumors or inflammation of the spine.

According to an article published in 'Stroke and Vascular Neurology' 2019 edition, the death rate for cerebrovascular diseases in China was 149.49 per 100 000, accounting for 1.57 million deaths in 2018. Therefore with the increasing prevalence of neurological diseases, the demand for diagnostic imaging equipment like open MRI and hence this factor is expected for the market growth.

Asia Pacific Open System MRI Industry Overview

The majority of the open system MRI are being manufactured by some of the major key players. Market leaders with more funds for research and a better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing the emergence of some small players due to the rise of awareness. This has also helped the market grow.

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