Middle East and Africa MRI Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 385.12 Million |
| Market Size (2029) | USD 497.40 Million |
| CAGR (2024 - 2029) | 5.25 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Middle East and Africa MRI Market Analysis
The Middle East And Africa Magnetic Resonance Imaging Market size is estimated at USD 385.12 million in 2024, and is expected to reach USD 497.40 million by 2029, growing at a CAGR of 5.25% during the forecast period (2024-2029).
The rising geriatric population and an increase in the incidence of chronic diseases primarily drive the market. Chronic diseases such as heart disease, stroke, brain injury, and neurological diseases are among the most common chronic diseases that require early diagnosis and treatment.
The growing burden of neurological diseases in the region is expected to increase the demand for MRI diagnosis, thereby boosting the market growth. For instance, according to the data published by the Ministry of Health in September 2022, there were 130,000 cases of Alzheimer's disease in Saudi Arabia in 2022, and this number is projected to rise to 14 million by 2060. As a result, the market growth is anticipated to be further fueled by the increasing frequency of dementia with clinical diagnosis, as the research calls for very high-field MRI scanners. Thus, the rise in cases of neurological diseases such as Alzheimer's is expected to increase demand for MRI scans over the forecast period.
The increased installation of MRI scanners in the region is expected to increase easy accessibility. For instance, in April 2022, NMC Royal Hospital introduced Sharjah’s first AI-driven state-of-the-art MRI scanner. With high-resolution images and quicker results, the MRI machine will help identify cancers and the severity of stroke apart from diagnosing heart, lung, liver, and bone disease. Moreover, in March 2022, the Acibadem Group, one of Turkey's largest private healthcare service institutions, ordered a second MRIdian MRI-guided radiation treatment system for installation at the Acibadem Altunizade Hospital in Istanbul, Turkey.
The introduction of imaging technologies like MRI with PET or CT, offering reduced radiation exposure, is driving market growth in the region. Global players such as GE Healthcare, Siemens, and Philips have an extensive hold on improving technology and distribution channels in the region. In November 2022, the International Atomic Energy Agency (IAEA) partnered with GE Healthcare to launch a training program called 'Rays of Hope.' This program will focus on PET-CT and PET-MRI imaging techniques, which provide more accurate diagnoses of diseases like cancer. The program aims to train professionals from Africa in these advanced medical imaging methods. Thus, such partnerships will lead to providing better MRI services in the region. However, the high cost of MRI is expected to hinder market growth.
Middle East and Africa MRI Market Trends
The Oncology Segment is Expected to Show Significant Growth During the Forecast Period
The increasing prevalence of cancer, coupled with research studies, is expected to drive market growth in the future. The oncology segment deals with the diagnosis and treatment of tumors and cancers. According to the 2022 estimations of the International Agency for Research on Cancer (IARC), 36,096 new cancer cases are likely to be reported in Israel by 2030, expected to rise to 44,166 by 2040. Thus, with the rising incidence of cancer, the magnetic resonance imaging market in the Middle East and Africa is estimated to witness healthy growth over the forecast period.
According to a research paper published in March 2022 in ASCO journal, 2.4% of all new cancer cases worldwide, or 463,675 cases, were predicted to occur in Arab nations. About 52.9% of that total were malignancies in women, compared to 47.8% globally. Compared to the global average of 186 per 100,000 people, the age-standardized incidence rate (ASIR) for Arab women was 137.7 per 100,000 (WFCs). Therefore, it is anticipated that the increased frequency of cancer among Arab females relative to the global average will spur market expansion.
In addition, advanced technologies and artificial intelligence in MRI systems are likely to make it possible to diagnose cases without any significant symptoms so that patients can get the treatment they need in the early stages of the disease.
For instance, in February 2023, at Arab Health 2023, United Imaging announced multiple agreements in the Middle East and Africa, including South Africa, for the uAiFI-powered 1.5T Wide Bore MRI System and PET/MR uPMR 790. It is a newly commissioned MRI machine with a multifunctional machine capable of diagnosing various body parts, including a multiparametric MRI of the prostate gland and the breast and MR spectroscopy.
Thus, the high incidence of cancer cases and recent developments in better diagnostic facilities are raising awareness among people about early diagnosis of diseases for prevention and faster cure. These factors are expected to boost the segment growth over the forecast period.
South Africa is Expected to Hold Significant Share of the Market During the Forecast Period
South Africa is expected to hold a major share of the market studied over the forecast period owing to factors such as the increasing prevalence of diseases and the increasing product launches by key players. For instance, in February 2023, United Imaging devices were deployed at several hospitals and imaging facilities in South Africa, Kenya, and more. The company's partners include Wits Donald Gordon Molecular Imaging in South Africa.
In addition, the demand for MRI scanners for the detection and diagnosis of cancer/tumor cases is anticipated to increase with the country's rising cancer prevalence. This is anticipated to fuel the country's market expansion. The burden of chronic diseases is anticipated to rise as the country's geriatric population rises, which is likely to stimulate the development of magnetic resonance imaging.
For instance, according to 2023 data published by the Republic of South Africa, in 2022, the estimated population of South Africa comprised more than five million people aged 60 or older. This represents a 9.2% share of the overall South African population. The number of older persons increased across all provinces, with Gauteng (1.4 million) and KwaZulu-Natal (940 thousand) having the highest elderly population in 2022. Thus, as the geriatric population increases, the utilization of MRI services is anticipated to rise, thereby promoting market growth over the forecast period.
Furthermore, the presence of competitors, product launches, and collaboration in the field of MRI are anticipated to drive market growth in South Africa. For instance, in January 2023, the SAHMRI-based Jones Radiology Clinical Research Imaging Centre (CRIC) introduced a cutting-edge MRI scanner poised to transform MRI applications in both clinical and research settings. Thus, such technological advancements are providing better diagnostic options to the people in the country, thereby driving the market.
Thus, due to the increase in the geriatric population and the rise in MRI product launches, South Africa is anticipated to hold a major share of the market studied over the forecast period.
Middle East and Africa MRI Industry Overview
The Middle East and Africa MRI market is semi-consolidated with several major players. Some of the strategies implemented include agreements, collaborative models, business expansion, and product development. Some of the major players in the market are Canon Medical Systems Corporation, Esaote SpA, General Electric Company (GE Healthcare), and FUJIFILM Corporation.
Middle East and Africa MRI Market Leaders
-
Canon Medical Systems Corporation
-
Koninklijke Philips N.V
-
General Electric Company (GE Healthcare)
-
Siemens Healthineers
-
FUJIFILM Corporation
*Disclaimer: Major Players sorted in no particular order
Middle East and Africa MRI Market News
- September 2023: Philips Middle East inaugurated its 'Center of Excellence' for diagnostic imaging in collaboration with Burjeel Hospital in Dubai, a division of the VPS Healthcare Group. This pioneering center in the region is set to revolutionize the landscape of corrective and replacement surgeries by leveraging cutting-edge diagnostic imaging technologies. As a key component of this initiative, Philips is rolling out an extensive Magnetic Resonance Imaging (MRI) Technologist Development program. The program is meticulously crafted to enhance clinical and operational standards, boost staff morale, and, most importantly, elevate patient outcomes.
- February 2023: GE HealthCare signed an agreement with Saudi Arabia’s My Clinic, one of the largest outpatient providers in the Kingdom, to equip its upcoming facility in Riyadh with a suite of advanced precision diagnostic and imaging solutions.
Middle East and Africa MRI Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Chronic Diseases
4.2.2 Introduction of Hybrid MRI Systems and Increasing Adoption in Emerging Markets
4.3 Market Restraints
4.3.1 High Cost of MRI Systems
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Architecture
5.1.1 Closed MRI Systems
5.1.2 Open MRI Systems
5.2 By Field Strength
5.2.1 Low-field MRI Systems
5.2.2 High-field MRI Systems
5.2.3 Very High-field MRI Systems and Ultra-high MRI Systems
5.3 By Application
5.3.1 Oncology
5.3.2 Neurology
5.3.3 Cardiology
5.3.4 Other Applications
5.4 Geography
5.4.1 GCC
5.4.2 South Africa
5.4.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Esaote SpA
6.1.2 General Electric Company (GE Healthcare)
6.1.3 FUJIFILM Corporation
6.1.4 Koninklijke Philips NV
6.1.5 Canon Medical Systems Corporation
6.1.6 Fonar Corporation
6.1.7 Siemens Healthineers
6.1.8 Shimadzu Corporations
6.1.9 Neusoft Corporation
6.1.10 Hologic Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Middle East and Africa MRI Industry Segmentation
Magnetic resonance imaging is a medical imaging technique used in radiology to produce pictures of the anatomy and physiological processes of the body. These pictures are then used to diagnose and detect abnormalities in the body.
The Middle East and Africa MRI 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, and other applications. By geography, the market is segmented into GCC, South Africa, and Rest of Middle East and Africa.
The report offers market sizes and forecasts in terms of value (USD) for 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 | |
| Other Applications |
| Geography | |
| GCC | |
| South Africa | |
| Rest of Middle East and Africa |
Middle East and Africa MRI Market Research FAQs
How big is the Middle East And Africa Magnetic Resonance Imaging Market?
The Middle East And Africa Magnetic Resonance Imaging Market size is expected to reach USD 385.12 million in 2024 and grow at a CAGR of 5.25% to reach USD 497.40 million by 2029.
What is the current Middle East And Africa Magnetic Resonance Imaging Market size?
In 2024, the Middle East And Africa Magnetic Resonance Imaging Market size is expected to reach USD 385.12 million.
Who are the key players in Middle East And Africa Magnetic Resonance Imaging Market?
Canon Medical Systems Corporation, Koninklijke Philips N.V, General Electric Company (GE Healthcare), Siemens Healthineers and FUJIFILM Corporation are the major companies operating in the Middle East And Africa Magnetic Resonance Imaging Market.
What years does this Middle East And Africa Magnetic Resonance Imaging Market cover, and what was the market size in 2023?
In 2023, the Middle East And Africa Magnetic Resonance Imaging Market size was estimated at USD 364.90 million. The report covers the Middle East And Africa Magnetic Resonance Imaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Middle East And Africa Magnetic Resonance Imaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Middle East and Africa MRI Industry Report
Statistics for the 2024 Middle East and Africa MRI market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Middle East and Africa MRI analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Middle East and Africa MRI Market Report Snapshots
