The Middle East and Africa MRI Market is expected to grow with a CAGR of 8.1% in the forecast period. The rising technological advancement, such as the inclusion of MRI with PET or CT, to provide imaging possibilities with less exposure to harmful radiations is boosting the market growth in the region.
The global players, such as GE Healthcare, Siemens, and Philips, have an extensive hold on improving technology, as well as distribution channels in the region. MRI has been used with other powerful imaging techniques, such as when MRI is combined with radiography, it is used to treat infertility patients. Additionally, due to the rising popularity of technologically advanced MRI systems such as hybrid MRI, particularly in a developed market is expected to fuel the market.
The other factors such as the increasing geriatric population and rising adoption of MRI systems are driving the Middle East magnetic resonance imaging market.
Key Market Trends
Oncology Segment is Expected to Show Better Growth During the Forecasted Years
The oncology segment deals with the diagnosis and treatment of tumors and cancers. According to Globocan, in 2018, among both the sexes, breast and cervix uteri cancers are the most common cancers found in Africa, with breast cancer alone contributing to around 16% of the total new cases. Therefore there is a growing demand for better diagnostic facilities like MRI in the African countries due to the rising burden of cancer and the growing aging population.
In addition, the rising awareness among people about early diagnosis of diseases for prevention and faster cure is expected to show better growth in the forecast period. Furthermore, high-quality, sustainable projects, such as in Eldoret (AMPATH Oncology) the work of Hospice Africa Uganda, the collaborations between Crumlin Children’s Hospital (Dublin, Ireland) and the Muhimbili University of Health and Allied Sciences (Dar-es-Salaam) Tanzania, etc.contribute in a positive manner towards cancer control that is boosting the overall market growth.
The Middle East and Africa MRI Market is moderately competitive with several major players. Some of the strategies implemented include agreements, collaborative models, business expansion, and product developments. Some of the major players in the market are Canon Medical Systems Corporation, Esaote SpA, GE Healthcare, Hitachi Ltd. etc
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