Market Trends of South Korea Magnetic Resonance Imaging Industry
This section covers the major market trends shaping the South Korea Magnetic Resonance Imaging Market according to our research experts:
High-Field MRI Systems are Expected to Witness Healthy Growth Over the Forecast Period
Technological advancements in high-field MRI scanners are expected to drive the growth of high-field MRI scanners in this region. For instance, in 2021, Elekta Korea launched their Elekta Unity radiation treatment system, which combines magnetic resonance imaging and a linear accelerator. Philips' high-resolution 1.5 teslas (T) MRI scanner and seven-megavolt linear accelerator are combined in the Elekta Unity. It delivers high-resolution MRI scans incorporating patients' anatomy and biological information, enabling tailored radiation therapy based on tumor characteristics.
The rising adoption of high-field MRI scanners in South Korea is also expected to propel the market growth for this segment. For instance, in 2020, Vantage Elan, a high-tech 1.5 Tesla magnetic resonance imaging (MRI) system from Canon Medical Systems Korea, was installed at Sesonneun Orthopedic Hospital in Korea to get super-precise imaging of the spine and joint.
The development of Magnetic Resonance (MR) software by local startup companies in South Korea is contributing to the surge in the high-field MRI scanners market. For instance, in the year 2021, AIRS Medical Inc., a South Korean healthcare firm, received the Food and Drug Administration approval for its initial product SwiftMR. It is an AI-powered MRI reconstruction program that improves MR images recorded under a variety of situations, resulting in increased throughput and improved patient experience.
Hence, the above developments in high-field MRI systems, it is expected to drive market growth.
