Market Size of Germany Magnetic Resonance Imaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 729.40 Million |
| Market Size (2029) | USD 961.96 Million |
| CAGR (2024 - 2029) | 5.71 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Germany Magnetic Resonance Imaging Market Analysis
The Germany Magnetic Resonance Imaging Market size is estimated at USD 729.40 million in 2024, and is expected to reach USD 961.96 million by 2029, growing at a CAGR of 5.71% during the forecast period (2024-2029).
The market is expected to grow with the rising prevalence of chronic diseases, technological advancements, and the introduction of new products.
The burden of chronic diseases is increasing in Germany, which is expected to create a higher demand for magnetic resonance imaging (MRI) imaging to diagnose the underlying disease accurately. For instance, per the 2023 updated data published by the International Agency for Research on Cancer (IARC), cancer cases are expected to increase in Germany in the coming years, reaching 21.9 million by 2025 and 24.6 million by 2030. Thus, the high burden of cancer is expected to increase demand for MRI imaging for effective diagnosis, thereby boosting market growth.
The burden of neurological and cardiovascular diseases is also prevalent in Germany, which is expected to boost the demand for MRI diagnosis. For instance, according to the article published in the Journal of Health Monitoring in September 2023, the estimated number of dementia patients aged 65 and older will be 1.8 million by 2025 in Germany. This figure is projected to rise to 2.8 million by 2055. In addition, the number of dementia patients is expected to reach 3 million by 2070. Over the coming years, the prevalence of Alzheimer's disease in Germany is anticipated to increase. Thus, the growing demand for accurate diagnostics with MRI will propel the growth of the market.
Technological advancements in MRI in Germany are expected to attract more patients with its advanced features and improvisations. For instance, in November 2022, Siemens Healthineers launched its two latest magnetic resonance tomographs designed for clinical and scientific use at RSNA 2022 Magnetom Cima.X2 with 3T field strength and Magnetom Terra.X1 with 7T. Similarly, in August 2023, Neoscan Solutions GmbH, Germany, received the European Certification (CE) for the first 1.5 Tesla MRI system for infants up to the age of six years. Thus, such launches are likely to increase access to these advanced MRI machines, which is anticipated to contribute to the market's growth over the forecast period.
Therefore, owing to the factors above, including the rising burden of chronic diseases and advancements in MRI, the market is anticipated to grow over the forecast period. However, the lack of proper reimbursement, stringent regulatory approval procedures, and the high cost of equipment will likely impede market growth over the forecast period.
Germany Magnetic Resonance Imaging Industry Segmentation
As per the scope of the report, magnetic resonance imaging is a medical imaging technique used in radiology to produce pictures of the anatomy and the physiological processes of the body. These pictures are further used to diagnose and detect the presence of abnormalities in the body.
The German magnetic resonance imaging market is segmented by architecture, field strength, application, and geography. By architecture, the market is segmented into closed MRI systems and open MRI systems. By field strength, the market is segmented into low-field MRI systems, high-field MRI systems, and very high-field MRI systems and ultra-high MRI systems. By application, the market is segmented into oncology, neurology, cardiology, gastroenterology, musculoskeletal, and other applications. The report offers the value (USD) for all the above segments.
| By Architecture | |
| Closed MRI Systems | |
| Open MRI Systems |
| By Field Strength | |
| Low Field MRI Systems | |
| High Field MRI Systems | |
| Very High Field MRI Systems and Ultra-high MRI Systems |
| By Application | |
| Oncology | |
| Neurology | |
| Cardiology | |
| Gastroenterology | |
| Musculoskeletal | |
| Other Applications |
Germany Magnetic Resonance Imaging Market Size Summary
The Germany magnetic resonance imaging market is poised for substantial growth over the forecast period, driven by the increasing prevalence of chronic diseases and technological advancements in MRI systems. The rising incidence of conditions such as cancer, neurological disorders, and cardiovascular diseases is expected to boost the demand for MRI diagnostics, as these imaging techniques are crucial for accurate disease detection and management. Technological innovations, including the introduction of advanced MRI systems with higher field strengths, are anticipated to enhance diagnostic capabilities and attract more patients. These advancements are supported by research studies highlighting the potential applications and benefits of ultra-high field MRI systems, which offer improved imaging quality and faster scan times. Despite challenges such as high equipment costs and regulatory hurdles, the market is expected to expand, with key players actively engaging in product launches and strategic collaborations to strengthen their market presence.
The neurology segment, in particular, is expected to witness significant growth due to the high burden of neurological disorders and ongoing research in MRI technology. The increasing prevalence of conditions like Alzheimer's, dementia, and brain tumors necessitates advanced diagnostic tools, driving the demand for MRI systems. Research studies have demonstrated the efficacy of MRI in diagnosing and understanding these disorders, further propelling market growth. The market landscape in Germany is semi-consolidated, with major players like Siemens Healthcare GmbH, GE Healthcare, and Canon Medical Systems Corporation leading the charge. These companies are leveraging strategies such as mergers, acquisitions, and innovative product developments to maintain their competitive edge. As the market evolves, the focus on enhancing diagnostic accuracy and expanding the applications of MRI technology is expected to continue, fostering a dynamic and growth-oriented industry environment.
Germany Magnetic Resonance Imaging Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Chronic Diseases
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1.2.2 Increasing Technological Advancements
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1.3 Market Restraints
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1.3.1 Lack of Proper Reimbursement and Stringent Regulatory Approval Procedures
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1.3.2 High Cost of Equipment
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Buyers/Consumers
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1.4.2 Bargaining Power of Suppliers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD)
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2.1 By Architecture
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2.1.1 Closed MRI Systems
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2.1.2 Open MRI Systems
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2.2 By Field Strength
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2.2.1 Low Field MRI Systems
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2.2.2 High Field MRI Systems
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2.2.3 Very High Field MRI Systems and Ultra-high MRI Systems
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2.3 By Application
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2.3.1 Oncology
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2.3.2 Neurology
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2.3.3 Cardiology
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2.3.4 Gastroenterology
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2.3.5 Musculoskeletal
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2.3.6 Other Applications
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Germany Magnetic Resonance Imaging Market Size FAQs
How big is the Germany Magnetic Resonance Imaging Market?
The Germany Magnetic Resonance Imaging Market size is expected to reach USD 729.40 million in 2024 and grow at a CAGR of 5.71% to reach USD 961.96 million by 2029.
What is the current Germany Magnetic Resonance Imaging Market size?
In 2024, the Germany Magnetic Resonance Imaging Market size is expected to reach USD 729.40 million.
