North America Brain MRI Scan Market – Industry Trends and Forecast to 2029

Market Analysis and Insights: North America Brain MRI Scan Market

Brain MRI scan is a rare neurological disorder in which a child's brain develops improperly during pregnancy. It develops due to the failure in neuronal migration that occurs between 12 and 24 weeks of gestation, resulting in the absence of normal brain gyri and sulci development. Gastrostomy tube is inserted in children's stomach suffering from feeding and swallowing difficulties. According to research, it can be caused by a malfunction of multiple genes. The majority of these gene alterations are not always inherited from one's parents. When there is no family history of the illness, they can appear at random in a person's genetic makeup.

North America brain MRI scan is supportive and aims to reduce the severity of the symptoms. Data Bridge Market Research analyses that the brain MRI scan market will grow at a CAGR of 5.1% during the forecast period of 2022 to 2029.

 Brain MRI Scan Market Dynamics

Drivers

• Rise in prevalence and incidence of chronic neurological diseases

The rise in the incidences of the neurological diseases such as stroke and dementia will increase the diagnosis and use of brain MRI scan devices and hence act as a major driver that will result in the expansion of the growth rate of the market.

For instance,

• In 2021, the data by the Family Caregiver Alliance, stated, that more than 600,000 people in the U.S. were diagnosed with stroke and 250,000 people with Alzheimer’s disease. 1.2 million people aged 18 years and older were diagnosed annually with adult onset brain disorders in the U.S.
• The rise in product approvals

Another significant factor influencing the growth rate of the brain MRI scan market are the approvals for the use of brain MRI scan, which helps in improving its infrastructure.

• The growth in technological developments in the mid field strength MRI devices

Also, the increase in the growth in technological developments in the mid field strength MRI devices such as artificial intelligence and ultrasound will further enhance the growth of the brain MRI scan market.

Furthermore, advancement in medical technology, rising initiatives by public and private organizations to spread awareness and growing government funding are the factors that will expand the rain MRI scan market. Other factors such as increase in the demand for effective therapies and rising awareness about the timely diagnosis and will positively impact the brain MRI scan market's growth rate. Additionally, high disposable income, rising number of cases of seizures and changing lifestyle will result in the expansion of the brain MRI scan market. 

Opportunities

• The rise in healthcare expenditure

Moreover, the rise in the research and development activities and increasing investments by government and private organization will boost new opportunities for the market's growth rate.

Also, the launch of effective therapies and continuous clinical trials will provide beneficial opportunities for the Brain MRI scan market in the forecast period of 2022-2029. Also, high unmet need of current and developments in healthcare technology will escalate the growth rate of the brain MRI scan market in future.

Restraints/Challenges

However, high cost associated with the available and lack of infrastructure in low-income countries will impede the growth rate of brain MRI scan market. Additionally, the risks incurred while using the MRI devices will hinder the brain MRI scan market growth. The lack of cure for this neurological condition and less awareness about genetic and rare diseases will further challenge the market in the forecast period mentioned above.

The brain MRI scan market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on brain MRI scan market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Patient Epidemiology Analysis

 Brain MRI scan is a brain disorder that is relatively uncommon and whose incidence is unknown. According to a study by the family caregiver alliance, state that around 250,000 people are diagnosed with Alzheimer’s disease.

Brain MRI scan market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.

Covid-19 Impact on the Brain MRI Scan Market

The COVID-19 has negatively affected the market. Lockdowns and isolation during pandemics complicate the diagnosis management and treatment. The lack of access to health-care facilities for routine and medication administration will further affect the market. Social isolation increases stress, despair, and social support, all of which may cause a reduction in anticonvulsant medication adherence during the pandemic.

Recent Development

• In December 2020, during the pandemic, BASDA had launched liquid helium-free 1.5t superconducting MRI scanner, in China. The product launch had improved the product range of superconducting MRI segment. It would make the 1.5t superconducting MRI scanner, available in imaging and diagnostic centers in China. It is expected to increase the revenue

North America Brain MRI Scan Market Scope

The Brain MRI scan market is segmented on the basis of scanner type, machine type, brain disorder, end-users and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Scanner Type

• Low Field Strength (<1.5T MRI)
• Mid Field Strength (1.5T MRI to 3.0T MRI)
• High Field Strength (4T and Above)

On the basis of scanner type, the mid field strength is sub-segmented into low field strength (<1.5T MRI), mid field strength (1.5T MRI to 3.0T MRI) and high field strength (4T and above).

Machine Type

• Open MRI Machine
• Closed MRI Machine
• Standing or Sitting MRI Machine

On the basis of machine type, the North America brain MRI scan market is segmented into open MRI   machine, closed MRI   machine and standing or sitting MRI machine.

Brain Disorder

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

On the basis of brain disorder, the North America brain MRI scan market is segmented into brain tumor, dementia, Alzheimer’s disease, Parkinson’s disease, epilepsy and seizure, stroke, multiple sclerosis, and others.

End User

• Hospitals
• Imaging and Diagnostic Centers
• Ambulatory Surgery Centers
• Others

On the basis of end user, the North America brain MRI scan market is segmented into hospitals, imaging and diagnostic centers, ambulatory surgery centers, and others.

Distribution Channel

• Direct Tenders
• Retail Sales

On the basis of distribution channel, the North America brain MRI scan market is segmented into direct tenders, retail sales.

Pipeline Analysis (not provided)

Brain MRI Scan Market Country Analysis/Insights

North America brain MRI scan market is analysed and market size insights and trends are provided by country, scanner type, machine type, brain disorder, end-users and distribution channel.  as referenced above.

The countries covered in the brain MRI scan market report are U.S., Canada and Mexico in North America.

The U.S. dominates the brain MRI scan market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the presence of major key players and well-developed healthcare infrastructure in this region and availability of advanced MRI scan devices.

The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

Competitive Landscape and Brain MRI Scan Market Share Analysis

North America brain MRI scan market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the brain MRI scan market.

Some of the major players operating in the  Brain MRI scan market are Koninklijke Philips N.V. General Electric Company, FUJIFILM Holdings America Corporation, Siemens Healthcare GmbH, CANON MEDICAL SYSTEMS CORPORATION, ESAOTE SPA, Hyperfine, Time Medical Holding., Shenzhen Anke High-tech Co, Ltd., UNITED IMAGING, SternMed GmbH., Beijing Wandong Medical Technology Co., Ltd., BASDA, Ultravision Medical Equipment Trading L.L.C., Neusoft Corporation, Elekta AB, alltech Medical Systems America, FONAR Corp, Bruker, Aspect Imaging Ltd., ASG Superconductors spa, MinFound Medical Systems Co., Ltd and Synaptive Medical among others.

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