Product Code: GVR-4-68040-117-9
MRI Ferromagnetic Detection Systems Market Growth & Trends:
The global MRI ferromagnetic detection systems market size is anticipated to reach USD 1,293.77 million by 2030, registering a CAGR of 14.87% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The primary factors driving the market growth are the increasing demand for safety measures in MRI rooms and regulatory implications mandating these safety precautions. An efficient MRI systemhas a strong, consistent static magnetic field that serves as an energy store. In MRI, the presence of metallic elements can lead to severe problems since long cables frequently produce currents and heat up due to RF magnetic fields, and metals can experience a force in the MRI that reduces image quality. The patient's health could suffer as a result of these concerns. As a result, MRI metal detectors are essential for checking for metals in space.
The usage of ferromagnetic detecting devices helps avoid accidents that could be brought on by external ferromagnetic objects, such as pocketknives and hearing aids. Considerable growth in MRI systems globally is among the key factors boosting product demand. The rising patient population requiring MRI diagnosis, technological advancements in MRI technology, and rising demand for early diagnosis have led to product demand across healthcare institutes, such as hospitals, ASCs, and independent units. As per the Grand View Research analysis, the global MRI market accounted for USD 5.26 billion in 2022 and is projected to grow at a considerable growth rate of around 7% during the forecast period.
North America is the dominant regional market due to the high product adoption in the region. Moreover, a high volume of MRI units per million population, significant importance to safety measures, and regulatory mandates for medical devices in the region support market growth. Asia Pacific is projected to grow at the highest CAGR of 16.05% during the forecast period owing to the rising healthcare expenditure on medical imaging diagnosis and the growing importance of medical tourism in Asia Pacific countries. Developing countries, such as India, China, and Singapore, are investing heavily in the expansion of healthcare facilities, including diagnostic imaging systems. Japan had the largest number of MRI units per million at 55.21 in 2019, followed by Australia at 15 units per million population.
MRI Ferromagnetic Detection Systems Market Report Highlights:
- North America accounted for the largest share of 33.95% in 2022 owing to the high number of MRI installations, technologically advanced infrastructure, and high healthcare spending per capita
- Based on type, the stationary segment dominated the market by capturing a 65.89% share of the global revenue in 2022 owing to the high number of MRI facilities installed at hospitals and the demand for controlled pre-screening before entering the MRI room. This type offers high-sensitivity and full-body scanning of patients and personnel
- Based on end-use, the hospitals segment accounted for the largest market share of 63.16% in 2022 as many hospital settings are equipped with advanced medical imaging systems for anomaly diagnosis
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Type
- 1.1.2. End-use
- 1.1.3. Regional scope
- 1.1.4. Estimates and forecast timeline
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR's internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.3.5.1. Data for primary interviews in North America
- 1.3.5.2. Data for primary interviews in Europe
- 1.3.5.3. Data for primary interviews in Asia Pacific
- 1.3.5.4. Data for primary interviews in Latin America
- 1.3.5.5. Data for primary interviews in MEA
- 1.4. Information or Data Analysis
- 1.4.1. Data analysis models
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.6.1. Commodity flow analysis (Model 1)
- 1.6.1.1. Approach 1: Commodity flow approach
- 1.6.2. Volume price analysis (Model 2)
- 1.6.2.1. Approach 2: Volume price analysis
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
- 1.9.1. Objective 1
- 1.9.2. Objective 2
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Type outlook
- 2.2.2. End-use outlook
- 2.2.3. Regional outlook
- 2.3. Competitive Insights
Chapter 3. MRI Ferromagnetic Detection Systems Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. Market Dynamics
- 3.3.1. Market driver analysis
- 3.3.1.1. Increasing demand for MRI units
- 3.3.1.2. Technological advancements
- 3.3.1.3. Rising healthcare expenditure in developing countries
- 3.3.2. Market restraint analysis
- 3.3.2.1. High cost of devices
- 3.4. MRI Ferromagnetic Detection Systems Market Analysis Tools
- 3.4.1. Industry Analysis - Porter's
- 3.4.1.1. Supplier power
- 3.4.1.2. Buyer power
- 3.4.1.3. Substitution threat
- 3.4.1.4. Threat of new entrant
- 3.4.1.5. Competitive rivalry
- 3.4.2. PEST Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic landscape
- 3.4.2.3. Social landscape
- 3.4.2.4. Technological landscape
Chapter 4. MRI Ferromagnetic Detection Systems Market: Type Estimates & Trend Analysis
- 4.1. Definitions and Scope
- 4.1.1. Stationary
- 4.1.2. Portable
- 4.2. Type Market Share, 2022 & 2030
- 4.3. Segment Dashboard
- 4.4. MRI Ferromagnetic Detection Systems Market by Type Outlook
- 4.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 4.5.1. Stationary
- 4.5.1.1. Stationary market estimates and forecast 2018 to 2030 (USD Million)
- 4.5.2. Portable
- 4.5.2.1. Portable market estimates and forecast 2018 to 2030 (USD Million)
Chapter 5. MRI Ferromagnetic Detection Systems Market: End-use Estimates & Trend Analysis
- 5.1. Definitions and Scope
- 5.1.1. Hospitals
- 5.1.2. Other Healthcare Establishment
- 5.2. End-use Market Share, 2022 & 2030
- 5.3. Segment Dashboard
- 5.4. MRI Ferromagnetic Detection Systems Market by End-use Outlook
- 5.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 5.5.1. Hospitals
- 5.5.1.1. Hospitals market estimates and forecast 2018 to 2030 (USD Million)
- 5.5.2. Other Healthcare Establishment
- 5.5.2.1. Other Healthcare Establishment market estimates and forecast 2018 to 2030 (USD Million)
Chapter 6. MRI Ferromagnetic Detection Systems Market: Regional Estimates & Trend Analysis
- 6.1. Regional Market Share Analysis, 2022 & 2030
- 6.2. Regional Market Dashboard
- 6.3. Global Regional Market Snapshot
- 6.4. Regional Market Share and Leading Players, 2022
- 6.4.1. North America
- 6.4.2. Europe
- 6.4.3. Asia Pacific
- 6.4.4. Latin America
- 6.4.5. Middle East and Africa
- 6.5. Market Estimate & Forecasts and Trend Analysis, 2018 to 2030
- 6.6. North America
- 6.6.1. Market estimates and forecast, 2018 - 2030 (Revenue, USD Million)
- 6.6.2. U.S.
- 6.6.2.1. Key country dynamics
- 6.6.2.2. Regulatory framework
- 6.6.2.3. U.S. market estimates and forecasts, 2018 - 2030
- 6.6.3. Canada
- 6.6.3.1. Key country dynamics
- 6.6.3.2. Regulatory framework
- 6.6.3.3. Canada market estimates and forecasts, 2018 - 2030
- 6.7. Europe
- 6.7.1. UK
- 6.7.1.1. Key country dynamics
- 6.7.1.2. Regulatory framework
- 6.7.1.3. UK market estimates and forecasts, 2018 - 2030
- 6.7.2. Germany
- 6.7.2.1. Key country dynamics
- 6.7.2.2. Regulatory framework
- 6.7.2.3. Germany market estimates and forecasts, 2018 - 2030
- 6.7.3. France
- 6.7.3.1. Key country dynamics
- 6.7.3.2. Regulatory framework
- 6.7.3.3. France market estimates and forecasts, 2018 - 2030
- 6.7.4. Italy
- 6.7.4.1. Key country dynamics
- 6.7.4.2. Regulatory framework
- 6.7.4.3. Italy market estimates and forecasts, 2018 - 2030
- 6.7.5. Spain
- 6.7.5.1. Key country dynamics
- 6.7.5.2. Regulatory framework
- 6.7.5.3. Spain market estimates and forecasts, 2018 - 2030
- 6.7.6. Denmark
- 6.7.6.1. Key country dynamics
- 6.7.6.2. Regulatory framework
- 6.7.6.3. Denmark market estimates and forecasts, 2018 - 2030
- 6.7.7. Sweden
- 6.7.7.1. Key country dynamics
- 6.7.7.2. Regulatory framework
- 6.7.7.3. Sweden market estimates and forecasts, 2018 - 2030
- 6.7.8. Norway
- 6.7.8.1. Key country dynamics
- 6.7.8.2. Regulatory framework
- 6.7.8.3. Norway market estimates and forecasts, 2018 - 2030
- 6.8. Asia Pacific
- 6.8.1. Japan
- 6.8.1.1. Key country dynamics
- 6.8.1.2. Regulatory framework
- 6.8.1.3. Japan market estimates and forecasts, 2018 - 2030
- 6.8.2. India
- 6.8.2.1. Key country dynamics
- 6.8.2.2. Regulatory framework
- 6.8.2.3. India market estimates and forecasts, 2018 - 2030
- 6.8.3. China
- 6.8.3.1. Key country dynamics
- 6.8.3.2. Regulatory framework
- 6.8.3.3. China market estimates and forecasts, 2018 - 2030
- 6.8.4. South Korea
- 6.8.4.1. Key country dynamics
- 6.8.4.2. Regulatory framework
- 6.8.4.3. South Korea market estimates and forecasts, 2018 - 2030
- 6.8.5. Australia
- 6.8.5.1. Key country dynamics
- 6.8.5.2. Regulatory framework
- 6.8.5.3. Australia market estimates and forecasts, 2018 - 2030
- 6.8.6. Thailand
- 6.8.6.1. Key country dynamics
- 6.8.6.2. Regulatory framework
- 6.8.6.3. Thailand market estimates and forecasts, 2018 - 2030
- 6.9. Latin America
- 6.9.1. Brazil
- 6.9.1.1. Key country dynamics
- 6.9.1.2. Regulatory framework
- 6.9.1.3. Brazil market estimates and forecasts, 2018 - 2030
- 6.9.2. Mexico
- 6.9.2.1. Key country dynamics
- 6.9.2.2. Regulatory framework
- 6.9.2.3. Mexico market estimates and forecasts, 2018 - 2030
- 6.9.3. Argentina
- 6.9.3.1. Key country dynamics
- 6.9.3.2. Regulatory framework
- 6.9.3.3. Argentina market estimates and forecasts, 2018 - 2030
- 6.10. MEA
- 6.10.1. South Africa
- 6.10.1.1. Key country dynamics
- 6.10.1.2. Regulatory framework
- 6.10.1.3. South Africa market estimates and forecasts, 2018 - 2030
- 6.10.2. Saudi Arabia
- 6.10.2.1. Key country dynamics
- 6.10.2.2. Regulatory framework
- 6.10.2.3. Saudi Arabia market estimates and forecasts, 2018 - 2030
- 6.10.3. UAE
- 6.10.3.1. Key country dynamics
- 6.10.3.2. Regulatory framework
- 6.10.3.3. UAE market estimates and forecasts, 2018 - 2030
- 6.10.4. Kuwait
- 6.10.4.1. Key country dynamics
- 6.10.4.2. Regulatory framework
- 6.10.4.3. Kuwait market estimates and forecasts, 2018 - 2030
Chapter 7. Competitive Landscape
- 7.1. Company Categorization
- 7.2. Participant's Overview
- 7.3. Product Benchmarking
- 7.4. Company Market Position Analysis
- 7.5. Strategy Mapping
- 7.5.1. New product launch
- 7.5.2. Mergers & acquisitions