China Magnetic Resonance Imaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

China Magnetic Resonance Imaging Market Analysis

The China Magnetic Resonance Imaging Market size is estimated at USD 367.41 million in 2024, and is expected to reach USD 479.96 million by 2029, growing at a CAGR of 5.49% during the forecast period (2024-2029).

COVID-19 pandemic has severely affected all the sectors in China during the initial wave of the disease. The market study was greatly hampered during the year 2020 as a result of restrictions on non-emergency diagnostic or therapeutic services in the hospitals. However, as the experts started understanding the coronavirus and its progression in the human body and how it affects the vital organs, several diagnostic approaches and tests came into the picture. For instance, MRI or CT scans were largely being used for diagnosis of COVID-19 infection in the lungs or its impact on the brain in some cases. This has helped the magnetic resonance imaging market to keep its momentum steady during the pandemic. The MRI scans provide a reliable and accurate result of an infection that occurred in the lungs or other parts of the body which is enabling early diagnosis of the disease. Therefore, currently, the market is achieving benefits from COVID-19 and is believed to grow over the forecast period as all the elective diagnostics and therapeutic procedures have started in the country in 2021. According to an article named 'Insights Into Neuroimaging Findings of Patients With COVID-19 Presenting With Neurological Manifestations' published in 2020, several people had a mild case of the disease that went away without therapy. Other systems, particularly the central nervous system, were commonly involved in severely ill patients. An increasing number of individuals with COVID-19 who had neurological signs have been documented as a result of this study's understanding of SARS-CoV-2. In a retrospective, observational research from Wuhan, China, 36 % of the 214 consecutive COVID-19 patients developed neurological symptoms. Using this neuroimaging, 59 % of COVID-19 patients had neurological symptoms, and brain MRI revealed a variety of neuroimaging abnormalities. Notably, approximately 41% of COVID-19 patients with available neuroimaging had normal results. MRI neuroimaging is a well-proven method to identify the post-covid effects expected to increase the MRI market due to Covid in this region.

China is one of the most populous countries in the world and has one of the highest burdens of chronic diseases around the world, which is the primary factor driving the growth of the magnetic resonance imaging (MRI) market in the country. According to the seventh Chinese national census of 2020, individuals aged 60 years and above and those aged over 65 years totaled 264,018,766 and 190,635,280, accounting for 18.70% and 13.50% of the population, respectively. A high number of the older population indicate a high risk of chronic diseases in the country as old people are more prone to various diseases such as cardiovascular conditions and other chronic diseases. Therefore, the increasing geriatric population is acting as one of the leading factors for the growth of the market studied in the future.

China Magnetic Resonance Imaging Market Trends

This section covers the major market trends shaping the China Magnetic Resonance Imaging Market according to our research experts:

Oncology is Expected to Witness Strong Growth Over the Forecast Period

China Magnetic Resonance Imaging Industry Segmentation

As per the scope of this report, magnetic resonance imaging is a medical imaging technique, which is used in radiology to produce pictures of the anatomy and the physiological processes of the body. These pictures are further used to diagnose and detect the presence of abnormalities in the body. China Magnetic Resonance Imaging (MRI) Market is segmented by Architecture (Closed MRI Systems and Open MRI Systems), Field Strength (Low Field MRI Systems, High Field MRI Systems, Very High Field MRI Systems and Ultra-high MRI Systems), Application (Oncology, Neurology, Cardiology, Gastroenterology, Musculoskeletal, and Other Applications). The report offers the value (in USD million) for the above segments.