PUBLISHER: Grand View Research | PRODUCT CODE: 1362992
PUBLISHER: Grand View Research | PRODUCT CODE: 1362992
The global MRI ferromagnetic detection systems market size is anticipated to reach USD 1,293.77 million by 2030, registering a CAGR of 14.87% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The primary factors driving the market growth are the increasing demand for safety measures in MRI rooms and regulatory implications mandating these safety precautions. An efficient MRI systemhas a strong, consistent static magnetic field that serves as an energy store. In MRI, the presence of metallic elements can lead to severe problems since long cables frequently produce currents and heat up due to RF magnetic fields, and metals can experience a force in the MRI that reduces image quality. The patient's health could suffer as a result of these concerns. As a result, MRI metal detectors are essential for checking for metals in space.
The usage of ferromagnetic detecting devices helps avoid accidents that could be brought on by external ferromagnetic objects, such as pocketknives and hearing aids. Considerable growth in MRI systems globally is among the key factors boosting product demand. The rising patient population requiring MRI diagnosis, technological advancements in MRI technology, and rising demand for early diagnosis have led to product demand across healthcare institutes, such as hospitals, ASCs, and independent units. As per the Grand View Research analysis, the global MRI market accounted for USD 5.26 billion in 2022 and is projected to grow at a considerable growth rate of around 7% during the forecast period.
North America is the dominant regional market due to the high product adoption in the region. Moreover, a high volume of MRI units per million population, significant importance to safety measures, and regulatory mandates for medical devices in the region support market growth. Asia Pacific is projected to grow at the highest CAGR of 16.05% during the forecast period owing to the rising healthcare expenditure on medical imaging diagnosis and the growing importance of medical tourism in Asia Pacific countries. Developing countries, such as India, China, and Singapore, are investing heavily in the expansion of healthcare facilities, including diagnostic imaging systems. Japan had the largest number of MRI units per million at 55.21 in 2019, followed by Australia at 15 units per million population.