Global Magnetic Resonance Elastography (MRE) Market, By Application (Hepatic Magnetic Resonance Elastography, Breast Magnetic Resonance Elastography, Brain Magnetic Resonance Elastography, Skeletal Muscle Magnetic Resonance Elastography, Others), End User (Hospitals, Diagnostic Imaging Centers, Research Institutes, Others) – Industry Trends and Forecast to 2029.
Magnetic Resonance Elastography (MRE) Market Analysis and Size
The magnetic resonance elastography (MRE) market is expected to grow during the forecast period of 2022-2029. The magnetic resonance elastography (MRE) has shown favorable results over elastography with the help of Doppler ultrasound, computed tomography, or any other modality. High preference for minimally or non-invasive surgical procedures is also expected to fuel the market during the forecast period.
Data Bridge Market Research analyses that the magnetic resonance elastography (MRE) market which was USD 4.8 billion in 2021, would rocket up to USD 9.10 billion by 2029, and is expected to undergo a CAGR of 8.33% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Magnetic Resonance Elastography (MRE) Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Application (Hepatic Magnetic Resonance Elastography, Breast Magnetic Resonance Elastography, Brain Magnetic Resonance Elastography, Skeletal Muscle Magnetic Resonance Elastography, Others), End User (Hospitals, Diagnostic Imaging Centers, Research Institutes, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Siemens (Germany), General Electric Company (U.S.), Koninklijke Philips N.V., (Netherlands), Hitachi Ltd., (Japan), CANON MEDICAL SYSTEMS CORPORATION (Japan), Sanrad Medical Systems Private Limited (India), ESAOTE SPA (Italy), Aspect Imaging Ltd. (Israel), FONAR Corp., (U.S.), Shenzhen Anke High-tech Co., Ltd., (China), Neusoft Corporation (China), AURORA HEALTHCARE US CORP (U.S.), and Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
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Market Opportunities
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Market Definition
Medical professionals and radiologists use magnetic resonance elastography (MRE), a non-invasive medical imaging technology, for in-vivo quantitatively evaluating the biomechanical properties of the body's tissues and soft structures. By creating shear waves in the tissue under observation, obtaining images, and then assess the images to determine and evaluate tissue stiffness, the magnetic resonance elastography (MRE) process is based on magnetic resonance imaging (MRI) technology.
Magnetic Resonance Elastography (MRE) Market Dynamics
Drivers
- Increasing healthcare infrastructure
Increased prevalence of improved healthcare infrastructure, rising per capita health expenditure by the populace, and increasing number of patients with chronic diseases such as lung cancer, breast cancer, myocardial infraction and others are all expected to support the growth of the magnetic resonance elastography (MRE) market over the forecast period of 2022–2029.
- Adoption of sophisticated imaging techniques
On the other hand, throughout the forecast period, the market for magnetic resonance elastography (MRE) will have tremendous growth potential due to the adoption of sophisticated imaging techniques and an increase in research and development activities.
- Rise in chronic diseases
Rising research and development by research institutes and market players for diversifying the use of magnetic resonance elastography (MRE) technique, rising awareness about the diagnosis and screening, especially in developing countries, and rising incidence of chronic diseases affecting various muscles of the body, including lung cancer, cardiovascular diseases such as atherosclerosis and myocardial infraction, breast cancer, and other conditions affecting the skeletal muscles.
- Rising awareness about elastography
Elastography is becoming more widely known among medical professionals and patients due to its capacity to identify early-stage malignancies and other disorders. As a result, the market for elastography is expanding.
Opportunities
- Technological advancements
The adoption of elastography among medical practitioners is being fuelled in part by technological developments in the field. For instance, current developments such as ultrasound-elasticity imaging (USEI) enable high-resolution and accurate tissue imaging, supporting correct diagnostic and treatment options.
Restraints/Challenges
- Unfavorable reimbursement policies
On the other hand, the unfavorable reimbursement policies and the high procedure cost will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the magnetic resonance elastography (MRE) market. The global magnetic resonance elastography (MRE) market is also constrained during the forecast period due to a number of factors, including the procedure's higher price compared to other imaging techniques and the lack of global uniformity in reimbursement policies pertaining to diagnostic imaging procedures.
This magnetic resonance elastography (MRE) 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 the magnetic resonance elastography (MRE) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In November 2021, By accelerating MR exams, streamlining workflows, enhancing diagnostic quality, and ensuring the efficiency and sustainability of radiology operations, Philips' AI-enabled MR imaging portfolio is intended to increase the efficiency and sustainability of radiology operations
- In May 2022, HiFR Sound Touch Elastography was one of the Resona I9 Advanced Technologies introduced by Mindray. It made it possible for quicker refresh rates and smoother transition times for more reliable acquisition and evaluation during live 2D shear wave imaging
- In March 2022, the new ARIETTA ultrasound series, which includes the ARIETTA 850 DeepInsight and ARIETTA 650 DeepInsight, was introduced by FUJIFILM Healthcare Europe. These models support thorough diagnoses of hepatic diseases such as hepatitis, hepatic fibrosis, and hepatic cirrhosis using Real-time Tissue Elastography (RTE) and Shear Wave Measurement (SWM), which colour.
Global Magnetic Resonance Elastography (MRE) Market Scope
The magnetic resonance elastography (MRE) market is segmented on the basis of application and end-user. The growth amongst these segments will help you analyze 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.
Application
- Hepatic Magnetic Resonance Elastography
- Breast Magnetic Resonance Elastography
- Brain Magnetic Resonance Elastography
- Skeletal Muscle Magnetic Resonance Elastography
- Others
End User
- Hospitals
- Diagnostic Imaging Centers
- Research Institutes
- Others
Magnetic Resonance Elastography (MRE) Market Regional Analysis/Insights
The magnetic resonance elastography (MRE) market is analyzed and market size insights and trends are provided by country, application and end-user as referenced above.
The countries covered in the magnetic resonance elastography (MRE) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the magnetic resonance elastography (MRE) market due to the high prevalence of breast cancer patients along with rising per capita health expenditure.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the prevalence of large pool of patients undergoing diagnostic imaging procedure.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The magnetic resonance elastography (MRE) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for magnetic resonance elastography (MRE) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the magnetic resonance elastography (MRE) market. The data is available for historic period 2010-2020.
Competitive Landscape and Magnetic Resonance Elastography (MRE) Market Share Analysis
The magnetic resonance elastography (MRE) 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, global 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 magnetic resonance elastography (MRE) market.
Some of the major players operating in the magnetic resonance elastography (MRE) market are:
- Siemens (Germany)
- General Electric Company (U.S.)
- Koninklijke Philips N.V., (Netherlands)
- Hitachi Ltd., (Japan)
- CANON MEDICAL SYSTEMS CORPORATION (Japan)
- Sanrad Medical Systems Private Limited (India)
- ESAOTE SPA (Italy)
- Aspect Imaging Ltd. (Israel)
- FONAR Corp., (U.S.)
- Shenzhen Anke High-tech Co., Ltd., (China)
- Neusoft Corporation (China)
- AURORA HEALTHCARE US CORP (U.S.)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
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