Middle East and Africa MRI Systems Market Size to Reach Value of USD 533.42 Million by 2030

Published | 09 July 2024

Middle East and Africa MRI Systems Market Size to Reach Value of USD 533.42 Million by 2030

Middle East and Africa MRI Systems Market is flourishing at a significant growth rate due to rising chronic disease prevalence, increasing healthcare expenditure, MRI technology advancements, awareness about the benefits of early diagnosis, expanding healthcare infrastructure, and governments’ supportive initiatives.

BlueWeave Consulting, a leading strategic consulting, and Market research firm, in its recent study, estimated Middle East and Africa MRI Systems Market size by value at USD 354.14 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Middle East and Africa MRI Systems Market size to expand at a CAGR of 5.24% reaching a value of USD 533.42 million in 2030. Middle East and Africa MRI Systems Market is experiencing significant growth due to an increasing focus on the development of healthcare infrastructure and the adoption of advanced medical technologies. The market expansion is also fueled by the rising prevalence of chronic diseases, such as cardiovascular conditions, cancer, and neurological disorders.

By volume, BlueWeave estimated Middle East and Africa MRI Systems Market size at 768.22 thousand units in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Middle East and Africa MRI Systems Market size to expand at a CAGR of 5.11% reaching a volume of 843.85 thousand units by 2030. Technological advancements are playing a crucial role, with companies like Siemens Healthineers leading the way in innovations. They have introduced next-generation MRI technologies, such as the Magnetom Free.Max MRI system, which enhances patient comfort and diagnostic accuracy. These innovations are attracting healthcare providers and contributing to the widespread installation of MRI systems across the region. The growing awareness of the benefits of early diagnosis and treatment is also driving demand for MRI systems due to their non-invasive nature and high diagnostic accuracy.

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Opportunity – Growing awareness about benefits of early disease diagnosis

The increasing awareness of early disease diagnosis is driving healthcare professionals to provide better treatment for brain tumors and breast cancers. MRI scanners are becoming more popular for determining brain tumor types and pinpointing cancers, making them more accurate in patient's bodies. This awareness is driving the demand for MRI scanners, which are crucial for early detection and treatment.

Impact of Escalating Geopolitical Tensions on Middle East and Africa MRI Systems Market

Middle East and Africa (MEA) MRI Systems Market is influenced by geopolitical tensions, which can disrupt funding, hinder the import of advanced medical equipment, and affect purchasing power. In countries like Syria and Yemen, ongoing conflicts have damaged healthcare infrastructure, making it difficult to invest in new technologies. Sanctions and trade restrictions can also hinder the import of MRI systems, affecting the quality of diagnostic services. Additionally, fluctuations in local currencies can limit access to advanced diagnostic services. Despite these challenges, some regions, like the UAE and Saudi Arabia, continue to invest heavily in healthcare infrastructure, such as acquiring advanced MRI systems.

Middle East and Africa MRI Systems Market

Middle East and Africa MRI Systems Market – By End User

Based on end user, Middle East and Africa MRI Systems Market is split into Hospitals and Diagnostic Imaging Centers segments. The hospitals segment is a larger end user segment in Middle East and Africa MRI Systems Market, followed by diagnostic imaging centers. It reflects a significant reliance on MRI technology in hospital settings for various medical diagnostic purposes across the region. Diagnostic imaging centers also play a crucial role, catering to outpatient services and specialized imaging needs, albeit hospitals remain the primary consumers of MRI systems in Middle East and Africa.

Competitive Landscape

Middle East and Africa MRI Systems Market is fiercely competitive, with numerous companies vying for a larger market share. Major companies in the market include Esaote SpA, GE Healthcare, Fujifilm Corporation, Koninklijke Philips NV, Canon Medical Systems Corporation, Fonar Corporation, Siemens Healthineers, Shimadzu Corporations, Neusoft Corporation, and Hologic Inc. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Middle East and Africa MRI Systems Market.

Don’t miss the business opportunity Middle East and Africa MRI Systems Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Middle East and Africa MRI Systems Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Middle East and Africa MRI Systems Market and industry insights to help decision-makers make sound strategic decisions. Further, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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