Germany Magnetic Resonance Imaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 729.40 Million |
| Market Size (2029) | USD 961.96 Million |
| CAGR (2024 - 2029) | 5.71 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Germany Magnetic Resonance Imaging Market Analysis
The Germany Magnetic Resonance Imaging Market size is estimated at USD 729.40 million in 2024, and is expected to reach USD 961.96 million by 2029, growing at a CAGR of 5.71% during the forecast period (2024-2029).
The market is expected to grow with the rising prevalence of chronic diseases, technological advancements, and the introduction of new products.
The burden of chronic diseases is increasing in Germany, which is expected to create a higher demand for magnetic resonance imaging (MRI) imaging to diagnose the underlying disease accurately. For instance, per the 2023 updated data published by the International Agency for Research on Cancer (IARC), cancer cases are expected to increase in Germany in the coming years, reaching 21.9 million by 2025 and 24.6 million by 2030. Thus, the high burden of cancer is expected to increase demand for MRI imaging for effective diagnosis, thereby boosting market growth.
The burden of neurological and cardiovascular diseases is also prevalent in Germany, which is expected to boost the demand for MRI diagnosis. For instance, according to the article published in the Journal of Health Monitoring in September 2023, the estimated number of dementia patients aged 65 and older will be 1.8 million by 2025 in Germany. This figure is projected to rise to 2.8 million by 2055. In addition, the number of dementia patients is expected to reach 3 million by 2070. Over the coming years, the prevalence of Alzheimer's disease in Germany is anticipated to increase. Thus, the growing demand for accurate diagnostics with MRI will propel the growth of the market.
Technological advancements in MRI in Germany are expected to attract more patients with its advanced features and improvisations. For instance, in November 2022, Siemens Healthineers launched its two latest magnetic resonance tomographs designed for clinical and scientific use at RSNA 2022 Magnetom Cima.X2 with 3T field strength and Magnetom Terra.X1 with 7T. Similarly, in August 2023, Neoscan Solutions GmbH, Germany, received the European Certification (CE) for the first 1.5 Tesla MRI system for infants up to the age of six years. Thus, such launches are likely to increase access to these advanced MRI machines, which is anticipated to contribute to the market's growth over the forecast period.
Therefore, owing to the factors above, including the rising burden of chronic diseases and advancements in MRI, the market is anticipated to grow over the forecast period. However, the lack of proper reimbursement, stringent regulatory approval procedures, and the high cost of equipment will likely impede market growth over the forecast period.
Germany Magnetic Resonance Imaging Market Trends
The Ultra-high Field MRI Segment is Expected to Hold a Significant Market Share Over the Forecast Period
MRI systems with a field strength of 7 Tesla or higher are included in the ultra-high field MRI category. These scanners can see more of the body's finer details and offer quicker scan times with high sensitivity and specificity. The ultra-high field MRI segment is expected to grow during the forecast period with the increasing research advancements and the growing adoption of these systems.
German researchers have conducted studies shedding light on the rising technology and increasing acceptance of ultra-high field MRI systems. These studies aimed to raise awareness about the potential applications of MRI systems with ultra-high field strength, propelling the segment's growth. For instance, a study published in April 2023 in the Journal of Magnetic Resonance Materials in Physics, Biology, and Medicine concluded the promise of 14-tesla MRI systems and their envisioned role in German healthcare and research, which is expected to drive the segment's growth.
A study published in the Journal of Magnetic Resonance Materials in Physics, Biology, and Medicine in August 2022 highlighted the potential applications of ultra-high-field MRI systems with the strength of more than 7 Tesla for MRI-targeted biopsies in prostate cancer. The study further stated that the large field-of-view and low-flip-angle anatomical 3D imaging offered by the 7 T MRI has the potential to be used as a diagnostic tool with full strength to characterize different stages of the tumor to enable the onset and spatial distribution of metastatic spread.
Thus, such studies reveal the potential strength, efficacy, and vast applications of ultra-high field MRI systems for the better diagnosis of chronic diseases, which are expected to attract more market players to explore the technology and offer more ultra-high field MRI systems. These factors, along with the high demand for ultra-high field MRI systems, are expected to boost the segment's growth.
Ultra-high field MRI systems are being adopted to advance the research of magnetic imaging of the brain and other target organs and to gain a deeper understanding of the organ's function and the underlying diseases. These factors are expected to boost the demand for ultra-high field MRI systems and drive the segment's growth. In March 2023, at Otto von Guericke University Magdeburg, Germany, the most potent 7-Tesla magnetic resonance imaging (MRI) scanner, MAGNETOM Terra. X Impulse was launched. This advanced MRI system offers high-performance imaging for research, which is anticipated to boost segmental growth over the forecast period.
Therefore, the ultra-high field MRI segment is expected to witness significant growth over the forecast period owing to the rising number of research studies, high efficacy, and potential to serve as an advanced diagnosis tool.
Neurology is Expected to Hold a Significant Market Share Over the Forecast Period
Neurological diseases such as multiple sclerosis, brain tumors, Alzheimer's, and dementia are typically diagnosed using MRI technology. The increasing prevalence of these disorders drives the demand for advanced diagnostic tools, contributing to the growth of the neurology segment. Additionally, ongoing research and development in MRI technology continue to enhance diagnostic accuracy and patient outcomes.
The significant burden of neurological diseases is expected to increase the demand for MRI systems to diagnose and research the disease, which is likely to boost segmental growth. For instance, as per the data published by the Globocan in May 2024, there were 7,955 cases recorded in Germany for brain and central nervous system cancer. Such a vast patient base of dementia in Germany is expected to increase the demand for MRI systems for diagnosis, with more research studies being conducted to better understand disease development. This is expected to drive the segment's growth.
Research studies have highlighted the increasing technological advancements in MRI for neurological disease diagnosis, which are expected to attract more growth opportunities for the segment. For instance, a study published in the journal NeuroImage Clinical in May 2023 demonstrated the high potential of automated methods in MRI data, which can potentially assist physicians in diagnosing dementia and orphan diseases besides frequent syndromes such as Alzheimer's disease. Such studies can improve the diagnosis and the timely detection of sophisticated neurological diseases. These factors are expected to meet the diagnosis needs of patients, driving the segment's growth.
A study published in the Frontiers in Aging Neuroscience in October 2022 demonstrated that the manual metric MRI measurements enabled the diagnosis of substantia-innominata atrophy in dementia patients with a psychiatric onset. The study stated that the MRI measurements revealed that substantia-innominata in patients with dementia with Lewy bodies showed more atrophies than in the patients with initial mild cognitive impairment. Such findings can be useful for diagnosing the psychiatric onset of dementia, increasing the demand for MRI for dementia and timely diagnosis.
Therefore, the neurology segment is expected to witness significant growth over the forecast period due to factors such as the high burden of neurological disorders and advancing research.
Germany Magnetic Resonance Imaging Industry Overview
Germany's magnetic resonance imaging market is semi-consolidated and has several major players. Market players are adopting several strategies, such as product launches, mergers, and acquisitions, to retain their position in the market. Some of the key players operating in the market are SternMed GmbH, GE Healthcare, Siemens Healthcare GmbH, Canon Medical Systems Corporation, and Koninklijke Philips NV.
Germany Magnetic Resonance Imaging Market Leaders
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SternMed GmbH
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GE Healthcare
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Canon Medical Systems Corporation
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Koninklijke Philips NV
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Siemens Healthcare GmbH
*Disclaimer: Major Players sorted in no particular order
Germany Magnetic Resonance Imaging Market News
- April 2024: AIRS Medical secured supply contracts for its MRI AI solution, SwiftMR, in both Germany and the United Kingdom, marking a significant step in its global expansion.
- September 2023: Nano4Imaging GmbH signed a Letter of Intent (LoI) with Siemens Healthineers. This collaboration empowered Nano4Imaging to craft and roll out their innovative TRACKR software, designed as a guiding system, on Siemens Healthineers' MAGNETOM MRI systems.
Germany Magnetic Resonance Imaging Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Prevalence of Chronic Diseases
- 4.2.2 Increasing Technological Advancements
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4.3 Market Restraints
- 4.3.1 Lack of Proper Reimbursement and Stringent Regulatory Approval Procedures
- 4.3.2 High Cost of Equipment
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Buyers/Consumers
- 4.4.2 Bargaining Power of Suppliers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Architecture
- 5.1.1 Closed MRI Systems
- 5.1.2 Open MRI Systems
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5.2 By Field Strength
- 5.2.1 Low Field MRI Systems
- 5.2.2 High Field MRI Systems
- 5.2.3 Very High Field MRI Systems and Ultra-high MRI Systems
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5.3 By Application
- 5.3.1 Oncology
- 5.3.2 Neurology
- 5.3.3 Cardiology
- 5.3.4 Gastroenterology
- 5.3.5 Musculoskeletal
- 5.3.6 Other Applications
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 SternMed GmbH
- 6.1.2 Canon Medical Systems Corporation
- 6.1.3 Esaote SpA
- 6.1.4 GE Healthcare
- 6.1.5 Fujifilm Holdings Corporation
- 6.1.6 Koninklijke Philips NV
- 6.1.7 Fonar Corporation
- 6.1.8 Siemens Healthcare GmbH
- 6.1.9 Neoscan Solutions
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Germany Magnetic Resonance Imaging Industry Segmentation
As per the scope of the report, magnetic resonance imaging is a medical imaging technique 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 German magnetic resonance imaging market is segmented by architecture, field strength, application, and geography. By architecture, the market is segmented into closed MRI systems and open MRI systems. By field strength, the market is segmented into low-field MRI systems, high-field MRI systems, and very high-field MRI systems and ultra-high MRI systems. By application, the market is segmented into oncology, neurology, cardiology, gastroenterology, musculoskeletal, and other applications. The report offers the value (USD) for all 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 |
Germany Magnetic Resonance Imaging Market Research FAQs
How big is the Germany Magnetic Resonance Imaging Market?
The Germany Magnetic Resonance Imaging Market size is expected to reach USD 729.40 million in 2024 and grow at a CAGR of 5.71% to reach USD 961.96 million by 2029.
What is the current Germany Magnetic Resonance Imaging Market size?
In 2024, the Germany Magnetic Resonance Imaging Market size is expected to reach USD 729.40 million.
Who are the key players in Germany Magnetic Resonance Imaging Market?
SternMed GmbH, GE Healthcare, Canon Medical Systems Corporation, Koninklijke Philips NV and Siemens Healthcare GmbH are the major companies operating in the Germany Magnetic Resonance Imaging Market.
What years does this Germany Magnetic Resonance Imaging Market cover, and what was the market size in 2023?
In 2023, the Germany Magnetic Resonance Imaging Market size was estimated at USD 687.75 million. The report covers the Germany Magnetic Resonance Imaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Germany Magnetic Resonance Imaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Germany Magnetic Resonance Imaging Industry Report
Statistics for the 2024 Germany Magnetic Resonance Imaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Germany Magnetic Resonance Imaging analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
