According to the Market Statsville Group (MSG), the global Brain MRI Scan Market size is expected to grow at a CAGR of 6.1% from 2023 to 2033.

Due to the increasing number of cases of tumors, cancers, injuries, and other types of diseases as well as the result of ongoing investments being made in the establishment, is driving the growth of brain MRI scan market. The functional magnetic resonance imaging system uses light as part of its non-invasive disease and injury detection and investigation method, making it easier for medical professionals to treat patients with these conditions. The MRI was developed as a result of the drawbacks and dangers associated with radioactive technology's UV radiation.

COVID-19 Impact on the Global Brain MRI Scan Market

The COVID-19 pandemic significantly impacted the healthcare sector. It had a negative impact on the market for brain MRI scans. Pandemic lockdowns and isolation make diagnosis, management, and therapy more challenging. The government's implementation of the lockdown and social isolation measures to contain the COVID-19 pandemic outbreak resulted in the emergence of several difficulties, including service denial, the suspension or cancellation of various operations, the cancellation or postponement of brain diagnostic services, stifling business growth, and the suspension of new developments, further restricting the industry's growth. However, adopting advanced technologies creates a positive outlook for the market. The MRI scan market, supported by the European Union, was improved with the introduction of artificial intelligence. Around 20,000 CT scans are scanned using artificial intelligence MRI scanners. Moreover, fewer COVID-19 patients are being treated globally, leading to more people needing wound care treatments. Consequently, after COVID-19, the market for brain MRI scans will expand quickly.

Global Brain MRI Scan Market Dynamics

Drivers: High Demand for High Field Strength MRI Machines

The effectiveness of high-field strength MRI machines in diverse clinical applications is the subject of numerous research studies. High-field MRI machine development has already begun, and several players have received regulatory permission. For instance, the U.S. FDA approved GE Healthcare's SIGNA 7.0T MRI scanner, which may be utilized in both research and clinical settings to support a wide range of neurologic and musculoskeletal illnesses investigations, in November 2020. Only a few hospitals and research facilities have high-field strength MRI equipment, including the Mayo Clinic, Brigham and Women's Hospital, The University of Iowa, and the University of Southern California. Universities' study options have improved by installing these high-field strength MRI scanners. Due to the absence of advanced coils for additional clinical applications, 7T MRI scanners are currently only being researched for brain imaging. The sector is anticipated to increase at a faster rate during the projected period due to the development of improved coils to expand the applications of 7T MRI machines.

Restraints: Government Strict Regulations and Complications Associated with the Process

A significant problem that acts as a barrier to the growth of the market share of brain magnetic resonance imaging scanners is the rigid and restrictive system of laws and regulations from various governments. The government's strict regulation of invasive procedures for brain cancers and malignancies deters manufacturers. This is due to the fact that the government demands a lot of paperwork and documentation be submitted before implementing new technologies. Another significant impediment lately surfaced is the high cost of magnetic resonance imaging systems. Due to this price, the majority of patients who lack sufficient financial resources cannot use these systems, which impacts the market share of magnetic resonance imaging systems.

Opportunities: Growing Number of Centers

The availability of universal health coverage in many significant nations worldwide, which lowers the cost of different treatments like MRI and encourages individuals to undergo testing or treatment regularly, is another growth-driving factor for the brain MRI scan market during the projection period. For instance, in the United States, Medicare, Medicaid, and the State Children's Health Insurance Program collectively pay between 80% and 90% of all citizens' medical expenses (SCHIP). Canada's citizens have access to health insurance through Medicare. According to the OECD, there were 34.54 MRI units installed in the United States for every million people in 2020. Moreover, it is anticipated that the addition of artificial intelligence to MRI would accelerate market expansion. Also, the creation of new facilities in several nations throughout the world is the cause of the growing acceptance of MRI equipment in emerging markets. For instance, the National Brain Research Centre (NBRC), Manesar, in Haryana, India, debuted a high-tech MRI facility in November 2021. The Siemens MRI Scanner PRISMA 3T MRI was placed at the National Brain Research Centre (NBRC), India's top neuroscience research and teaching institution. The MRI market is thus anticipated to exhibit considerable expansion over the forecast period.

Scope of the Global Brain MRI Scan Market

The study categorizes the brain MRI scan market based on machine type, field of strength, and brain disorder area at the regional and global levels.

By Machine Type Outlook (Sales, USD Million, 2019-2033)

• Closed MRI System
• Open MRI System

By Field Strenght Outlook (Sales, USD Million, 2019-2033)

• Low field MRI System
• Mid field MRI System
• High field MRI System

By Brain Disorder Outlook (Sales, USD Million, 2019-2033)

• Brain Tumor
• Dementia
• Alzheimer’s Disease
• Parkinson’s Disease
• Epilepsy And Seizure
• Stroke
• Multiple Sclerosis
• Others

By Region Outlook (Sales, USD Million, 2019-2033)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

North America accounted for the largest market share by Region

In terms of market share and revenue, North America will still lead the market for brain MRI scans, and this dominance will only grow over the forecast period. This is a result of the region's increasing acceptance of advanced technology and the introduction of new goods. Due to the existence of significant key companies, a well-developed healthcare infrastructure, and the accessibility of cutting-edge MRI scan technology, North America led the market for brain MRI scans. On the other hand, the market participants and the quick expansion of medical facilities in this region's growing economies, Asia-Pacific, is predicted to increase throughout the projection period. Also, a rising need for sophisticated diagnostic methods is anticipated to expand the market.

Key Market Players in the Global Brain MRI Scan Market

The Brain MRI Scan Market is a significant competitor and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.

Major key players in the global Brain MRI Scan Market are:

• GE Healthcare
• Siemens AG
• Toshiba Corporation
• Aurora Imaging Technologies, Inc.
• Koninklijke Philips N.V.
• Esaote SPA
• Sanrad Medical Systems Pvt ltd
• Fujifilm
• Canon Medical Systems Corporation
• Hyperfine
• Time Medical Holding

Recent Development

• In November 2022, GE Healthcare launched a new artificial intelligence platform called SIGNA Experience, which incorporates AI- and deep learning-based software with magnetic coils that are easy to position. The platform aims to assist staff in preparing GE Healthcare's SIGNA scanners and obtaining clear diagnostic images as quickly as possible.
• In April 2022, Imeka collaborated with GE Healthcare to expand MRI technology in brain health. GE Healthcare and Imeka will work together to incorporate Imeka's non-invasive neuroimaging technology into the BrainWave advanced diffusion processing package. This integration will enable researchers and clinicians to conduct a more thorough analysis of diffusion MRI signals in the brain.
• In March 2022, Cerebriu and Siemens Healthineers entered into a partnership in which Cerebriu's patented Smart Protocol for Brain MRI-workflow automation software will be integrated with Siemens Healthineers' MRI machines. The partnership showcases a strong collaboration between innovators and forward-thinking OEMs, allowing healthcare providers to enhance patient care during imaging procedures.

Key Issues Addressed

• What is the market size by various segmentation of the brain MRI scan market management by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the brain MRI scan market?
• What are the key opportunities and trends for manufacturers involved in brain MRI scan market management supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales ofbrain MRI scan management in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.