Market Size of France Magnetic Resonance Imaging Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 456.83 Million |
Market Size (2029) | USD 590.51 Million |
CAGR (2024 - 2029) | 5.26 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
France Magnetic Resonance Imaging Market Analysis
The France Magnetic Resonance Imaging Market size is estimated at USD 456.83 million in 2024, and is expected to reach USD 590.51 million by 2029, growing at a CAGR of 5.26% during the forecast period (2024-2029).
The COVID-19 pandemic significantly impacted the France magnetic resonance imaging (MRI) market since the healthcare system adopted MRI services to detect the development of COVID-19. For instance, as per an article published in February 2021 in RSNA, a research team in Paris demonstrated that people who were affected with COVID-19 symptoms experienced adverse impacts on their eyes. The investigators found that nine (9%) of the COVID-19 patients had abnormal MRI findings on the eyeball, with one or more nodules on the posterior pole. Due to this, the demand for MRI services was raised during the pandemic. In the coming years, the market is likely to witness significant growth and is estimated to retain it throughout the forecast period due to the rise in chronic diseases and the rise in the adoption of MRI services in the healthcare systems in France.
The major factors that are expected to drive the growth of the magnetic resonance imaging (MRI) market in France are the growing burden of chronic ailments and an increase in accident cases and injuries. For instance, the number of road accidents and injuries is one of the major reasons for opting for MRI in France. For instance, as per the French Road Safety Observatory 2022 update, the number of injury accidents recorded by police forces was 3,728 in January 2022, higher than last year's result (3,508 accidents). As accidents and injuries increase, the chance of using MRI scans is also raised, which is likely to boost the market growth.
Moreover, initiatives by market players are expected to increase market growth. For instance, in March 2021, Hitachi Medical Systems Europe (HMSE) introduced APERTO Lucent Plus 1, 0.4 Tesla permanent Open MRI, and AIRIS Vento Plus 2, 0.3 Tesla permanent Open MRI system, both equipped with "SynergyDrive" at the European Congress of Radiology (ECR) 2021 for all of Europe. Similarly, in October 2021, Siemens Healthineers installed the MAGNETOM 11.7 T MRI system, one of the most potent MRI systems, at CEA-Paris-Saclay, France, and unveiled its first images. This MRI, designed by CEA engineers and researchers together with Siemens Healthineers, enables fundamental research, cognitive sciences, and understanding of brain pathologies. Thus, owing to such strategic activities by the key players, the studied market is expected to witness significant growth in France over the forecast period.
Therefore, due to the increase in chronic diseases and the rise in strategic activities coupled with technological advancements in MRI, the studied market is expected to witness healthy growth over the forecast period. However, it is anticipated that the market expansion in France is likely to be restrained by inadequate reimbursement and the high cost of equipment.
France Magnetic Resonance Imaging Industry Segmentation
As per the scope of the report, magnetic resonance imaging is a medical imaging technique that 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. The France magnetic resonance imaging 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) for the above segments.
By Architecture | |
Closed MRI Systems | |
Open MRI Systems |
By Field Strength | |
Low Field MRI Systems | |
High Field MRI Systems | |
Very High Field MRI Systems and Ultra-high MRI Systems |
By Application | |
Oncology | |
Neurology | |
Cardiology | |
Gastroenterology | |
Musculoskeletal | |
Other Applications |
France Magnetic Resonance Imaging Market Size Summary
The France magnetic resonance imaging market is poised for substantial growth over the forecast period, driven by an increasing prevalence of chronic diseases and a rise in accident-related injuries. The COVID-19 pandemic has also played a significant role in boosting the demand for MRI services, as healthcare systems utilized these technologies to detect complications associated with the virus. The market is expected to benefit from technological advancements and strategic initiatives by key players, such as the introduction of advanced MRI systems and collaborations for new installations. These developments are anticipated to enhance the capabilities of MRI in diagnosing various conditions, thereby expanding its application in the French healthcare landscape.
The market's expansion is further supported by the growing burden of musculoskeletal diseases and the aging population, which necessitates advanced imaging solutions for effective diagnosis and treatment. The musculoskeletal segment, in particular, is expected to experience significant growth due to the high incidence of fractures and injuries, coupled with the advantages offered by MRI technology. Additionally, the closed MRI segment is projected to grow, driven by the increasing demand for detailed imaging in chronic disease management. Despite the promising growth prospects, the market faces challenges such as high equipment costs and inadequate reimbursement, which may temper its expansion. Overall, the France MRI market is characterized by a competitive landscape with major players like GE Healthcare, Siemens Healthineers, and Philips, who are actively engaging in product launches and strategic collaborations to strengthen their market presence.
France Magnetic Resonance Imaging Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Chronic Diseases
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1.2.2 Increasing Technological Advancements
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1.3 Market Restraints
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1.3.1 Lack of Proper Reimbursement and Stringent Regulatory Approval Procedures
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1.3.2 High Cost of Equipment
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Architecture
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2.1.1 Closed MRI Systems
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2.1.2 Open MRI Systems
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2.2 By Field Strength
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2.2.1 Low Field MRI Systems
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2.2.2 High Field MRI Systems
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2.2.3 Very High Field MRI Systems and Ultra-high MRI Systems
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2.3 By Application
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2.3.1 Oncology
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2.3.2 Neurology
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2.3.3 Cardiology
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2.3.4 Gastroenterology
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2.3.5 Musculoskeletal
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2.3.6 Other Applications
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France Magnetic Resonance Imaging Market Size FAQs
How big is the France Magnetic Resonance Imaging Market?
The France Magnetic Resonance Imaging Market size is expected to reach USD 456.83 million in 2024 and grow at a CAGR of 5.26% to reach USD 590.51 million by 2029.
What is the current France Magnetic Resonance Imaging Market size?
In 2024, the France Magnetic Resonance Imaging Market size is expected to reach USD 456.83 million.