South Africa Magnetic Resonance Imaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

South Africa Magnetic Resonance Imaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

South Africa magnetic resonance imaging (MRI) market was valued at USD 113.26 million in 2021 and is projected to register a CAGR of 4.9% during the forecast period (2022-2027).

COVID-19 had an adverse impact on the magnetic resonance imaging market in South Africa. The effect of pulmonary tuberculosis (TB) and human immunodeficiency virus (HIV) infection on the clinical course and radiologic aspects of COVID-19 pneumonia was unknown, according to RSNA International Trends: "A Global Perspective on the COVID-19 Pandemic and Radiology in Late 2020". According to preliminary research, contemporary tuberculosis and human immunodeficiency virus are both separately linked to a rise in COVID-19-related mortality. Lockdowns result in a 70% reduction in elective outpatient services and a 40% reduction in the overall imaging workload. This made the already lengthy wait times for advanced imaging services like MRI and CT worse. International Finance Corporation 2021 claims that a lot of healthcare professionals in Africa are unable to afford sophisticated medical equipment. Equipment shortages, such as those for MRI machines and CT scanners, affect African nations. As a result, situations involving post-COVID-19 problems require the right diagnostic equipment, such as an MRI. This could increase South Africa's need for MRI services. However, there are significant disadvantages in the MRI market as a result of the COVID-19 epidemic, such as the government's limits on radiological appointments and travel across the entire nation. Thus, the pandemic had an adverse effect on the studied market growth. However, the market is expected to grow in the future.

Factors such as the increasing prevalence of diseases and research studies are expected to increase the market growth. According to data provided by the Alzheimer Association in 2021 at the Alzheimer's Association International Conference, they projected that by 2050, there will be over 152 million people worldwide living with dementia. The Middle East, North Africa, and Eastern Sub-Saharan Africa are predicted to experience the largest increases in prevalence. As a result, the increasing prevalence of dementia is the main factor driving research into Alzheimer's disease in this area. This trend is also anticipated to fuel the development of very high-field MRI scanners in South Africa. Magnetic resonance imaging (MRI) is a crucial tool for examining young children's brain development and the neurobiological mechanisms underlying developmental risk and resilience, according to a research study published in October 2020 with the title "Neuroimaging young children and associations with neurocognitive development in a South African birth cohort study." As a result, it is anticipated that MRI system usage and adoption would grow in the area. Closed systems are more likely to be adopted in the area because they are less expensive. Therefore, owing to the above-mentioned factors, the magnetic resonance imaging market in South Africa is expected to grow during the forecast period of the study.

However, it is anticipated that the market expansion in South Africa will be constrained by inadequate reimbursement and the high cost of equipment.

Key Market TrendsHigh Field MRI System Segment is Expected to Hold a Significant Market Share Over the Forecast Period

An MRI scanner's field strength is expressed in Tesla, or "T." "Very high-field" or "Ultra high-field" MRI is used when the field strength of the scanner is 7T or greater. A key advantage of ultra-high field MRI is its capacity to improve the spatial resolution of data acquisition while maintaining image quality. Factors such as the increasing prevalence of diseases and research studies are expected to increase the market growth. The total number of five-year prevalent instances of cancer was 262,455, while South Africa reported 108,168 new cases in 2020, per the Globocan 2020 study. According to the same source, 175,102 more instances of cancer are expected to be diagnosed by 2040. The demand for MRI scanners to detect and diagnose cancer/tumor cases is anticipated to rise in response to the nation's rising cancer prevalence, which is anticipated to fuel the market's expansion. Additionally, according to a study published in Frontiers in Neurology in March 2021 titled "Dominant and Modifiable Risk Factors for Dementia in Sub-Saharan Africa (SSA): A Systematic Review and Meta-Analysis," the annual incidence of clinically diagnosed dementia in SSA is estimated to be 2%, with a prevalence of 5%. The most significant modifiable factor in the current study was low educational attainment, while older age was the most significant risk factor for dementia. As a result, the market growth is anticipated to be further fueled by the increasing frequency of dementia with a clinical diagnosis, as the research calls for ultra high field MRI scanners. Hence, the above developments pertaining to MRI systems are expected to drive market growth.

Competitive Landscape

South Africa magnetic resonance imaging market is moderately competitive and consists of several major players. Some of the companies that are currently dominating the market are GE Healthcare, Siemens Healthineers AG, Canon Medical Systems Corporation, Esaote SpA, and Koninklijke Philips NV among others.

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