Market Reports on Saudi Arabia Provides the Trending Market Research Report on “Saudi Arabia Magnetic Resonance Imaging Market, By Field Strength (High-Field MRI Systems, Low-to-Mid Field MRI Systems, Very-High-Field MRI Systems), By Type (Fixed v/s Mobile), By Architecture (Closed v/s Open), By Source (Import v/s Domestic), By Application (Brain and Neurological, Oncology, Spine and Musculoskeletal, Abdominal, Cardiac & Others), By End User (Hospitals, Imaging Centers, Ambulatory Surgical Centers & Others), By Region, Competition, Forecast & Opportunities, 2017-2027F” under Life Sciences Market Research Reports category. The Magnetic Resonance Imaging Market Database in Saudi Arabia is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Saudi Arabia Magnetic Resonance Imaging Market stood at USD 100.14 million in 2021 and is expected to reach 140.77 million at a CAGR of 5.61% during the forecast period. The increasing prevalence of brain & neurological diseases such as traumatic brain injury, brain, and spinal cord tumors, brain damage associated with epilepsy, infection, and vascular irregularities is driving the demand for magnetic resonance imaging in the country. The rising cases of various types of cancer, with surgery being the most common method of operation, have elevated the demand for magnetic resonance imaging in Saudi Arabia as the repetitive diagnosis is performed to find the stage of the development and recovery of the ailment the patient is suffering. Increasing awareness of the usage of magnetic resonance imaging for varied diagnoses with increased effectiveness and reliability over the diagnosis is going to positively influence the growth of the market. Due to decreased demand for the technology as the lockdown implemented in entire country resulted in affecting accessibility of various facilities including the healthcare facilities which also counts the diagnostics sector to face downfall. This was mainly due to the decline in medical tourism resulting in downgrading of the market also the pandemic caused disruption in the usage of the procedure, causing major disruption in the diagnostic services and usage of the technique for various diagnostics purposes.
Growing Prevalence of Brain and Neurological Diseases
The growing prevalence of various chronic diseases, such as cardiovascular diseases, cancer, renal disorders, and respiratory problems, among others, in Saudi Arabia has significantly increased the patient pool requiring diagnosis and treatment. Majorly MRI is prescribed by health practitioners to patients who are suffering from any brain, and neurological ailments as the technique’s principle of using radio waves for generating the scanned image of the particular site of the body where the patient is having any concerns and the procedure is mainly found beneficial for the diseases related with the brain and nervous system. This, in turn, is expected to positively influence the growth of the Magnetic Resonance Imaging Market in Saudi Arabia. Road accidents were the primary contributor to fatalities in 2019; in most cases, the diagnosis was made using an MRI to determine the stage of development.
Higher Penetration of Organized Health Coverage
The high penetration of organized health coverage across a larger spectrum of illnesses is one of the key reasons influencing the growth of the organized diagnostic sector in Saudi Arabia. As Saudi Arabia's economy expands, the diagnostic market is beginning to be dominated by insurance-backed and publicly funded health Surgical programs. The population's rising use of preventive testing is also greatly influenced by government incentives. For instance, Bupa Insurance Company provides diagnostic lab test insurance coverage in compliance with the standards of the Saudi Arabian Monetary Authority (SAMA) and the Council of Cooperative Health Insurance.
Technical Advancement
The market is seeing the introduction of improved technologies that are utilized to diagnose patients. Low field strength gives claustrophobic patients a clinical benefit and permits parental presence during pediatric patient scans. Additionally, the equipment that are capable of performing diagnosis with the help of law field radiation helps in performing diagnosis of the infants as well as elderly population as their body is not capable of withstanding the high intensity radiation for the diagnosis.
Low Energy Deposition in Tissues
Reduced frequency will help to counter the harmful effect of the heating caused in infants and elderly patients who are not capable of regulating their body temperature. This will benefit the patients and increase demand in the market due to the increased benefit among the facility's users. The energy deposited in tissues by radiofrequency pulses is completely proportional to the magnetic field.
Market Segmentation
The Saudi Arabia Magnetic Resonance Imaging Market is segmented based on Field Strength, Type, Architecture, Source, Application, End User, and regional distribution. Based on field strength, the market can be split into High-Field MRI Systems, Low-To-Mid Field MRI Systems, Very-High-Field MRI Systems. Based on type the market is divided into Fixed and Mobile. Based on architecture, the market is divided into Closed and Open. Based on source, the market is divided into Import and Domestic. By Application, the market is divided into Brain and Neurological, Oncology, Spine and Musculoskeletal, Abdominal, Cardiac & Others. In terms of End User, the market can be categorized into Hospitals, Imaging Centers, Ambulatory Surgical Centers & Others. Based on Region, the market can be fragmented into Northern and Central, Western, Southern and Eastern.
Company Profiles
General Electric El Seif Healthcare Arabia Co. Ltd., Siemens Ltd., Saudi Arabia, Philips Healthcare Saudi Arabia Ltd., Medtronic Saudi Arabia Co., Esaote SpA, Hitachi Saudi Arabia, Ltd., Toshiba Corporation, FUJIFILM Holdings Corporation are the leading companies operating in the Saudi Arabia magnetic resonance imaging (MRI) market.
Report Scope:
In this report, Saudi Arabia Magnetic Resonance Imaging Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
•Saudi Arabia Magnetic Resonance Imaging Market, By Field Strength:
High-Field MRI Systems
Low-to-Mid-Field MRI Systems
Very-High-Field MRI Systems
•Saudi Arabia Magnetic Resonance Imaging Market, By Type:
Fixed
Mobile
•Saudi Arabia Magnetic Resonance Imaging Market, By Architecture:
Closed
Open
•Saudi Arabia Magnetic Resonance Imaging Market, By Source:
Import
Domestic
•Saudi Arabia Magnetic Resonance Imaging Market, By Application:
Brain and Neurological
Oncology
Spine and Musculoskeletal
Abdominal
Cardiac
Others
•Saudi Arabia Magnetic Resonance Imaging Market, By End User:
Hospitals & Clinics
Imaging Centers
Ambulatory Surgical Centers
Others
•Saudi Arabia Magnetic Resonance Imaging Market, By Region:
Northern and Central
Western
Southern
Eastern
Competitive Landscape
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