Market Trends of South Africa Magnetic Resonance Imaging Industry
High Field MRI System Segment is Expected to Hold a Significant Market Share Over the Forecast Period
An MRI scanner's field strength is expressed in Tesla, or "T." "Very high-field" or "ultra-high-field" MRI is used when the field strength of the scanner is 7T or greater. A key advantage of ultra-high-field MRI is its capacity to improve the spatial resolution of data acquisition while maintaining image quality. Factors such as the increasing prevalence of diseases and research studies are expected to increase market growth.
The demand for MRI scanners to detect and diagnose cancer and tumor cases is anticipated to rise in response to the nation's rising cancer prevalence, which is anticipated to fuel the market's expansion. For instance, according to the University of Cape Town data published in August 2022, it is anticipated that the incidence of breast, cervical, prostate, lung, hematological, and pediatric cancers will continue to climb in South Africa. South Africa will see 121,000 new cases of cancer by the year 2030.
Additionally, according to a study published in Frontiers in Neurology in March 2021, the annual incidence of clinically diagnosed dementia in Sub-Saharan Africa is estimated to be 2%, with a prevalence of 5%. The most significant modifiable factor in the current study was low educational attainment, while older age was the most significant risk factor for dementia. As a result, market growth is anticipated to be further fueled by the increasing frequency of dementia with a clinical diagnosis, as the research calls for ultra-high-field MRI scanners. Hence, the above developments in MRI systems are expected to drive market growth.
Neurology Segment is Expected to Hold a Significant Market Share Over the Forecast Period
The neurology segment is expected to hold a major share of the studied market over the forecast period owing to factors such as the increasing prevalence of diseases and the increasing product launches by key players.
The demand for MRI scanners for detecting and diagnosing neurological cases is anticipated to rise with the country's rising prevalence of neurological diseases. According to the Alzheimer Association Report published in September 2022, in South Africa, dementia prevalence ranges from 2.3% to 20.0%, and incidence rates are 13.3 per 1000 person-years with rising mortality. Thus, the growing burden of neurological diseases is expected to increase demand for MRI devices over the forecast period.
According to the article published by the South African Health Review in October 2021, South Africa's population is estimated to be 57.3 million in 2021. 8.3% of whom are aged over 60 years, and the number of older adults in South Africa will increase to 15.4% of the total population by 2050. The geriatric population is more prone to neurological diseases, and the growth of this population in the country is likely to support the segment's growth over the forecast period.
The launch of MRI systems in the country is expected to boost market growth over the forecast period. For instance, in November 2021, Siemens Healthineers unveiled the Magnetom FreeStar whole-body MRI scanner, intending to expand access to magnetic resonance imaging globally, particularly in Africa.
Thus, all the factors above are expected to boost segment growth over the forecast period.
