MRI systems mkt to reach $950mn by 2030
It continues to grow at a compound annual growth rate of over 13% in India
image for illustrative purpose
New Delhi The domestic magnetic resonance imaging (MRI) systems market will continue to grow at a compound annual growth rate of over 13 per cent to reach $950 million by 2030, according to a report on Thursday.
Being home to the largest population in the world, India has an alarmingly increasing rise in chronic and lifestyle diseases. With an increasing emphasis on medical diagnosis before treatments and a growing demand for advanced imaging tools, the need for MRI systems has emerged as an indispensable tool in the field of diagnostics. The report by GlobalData, a leading data and analytics company, revealed that India will account for about 18 per cent of the Asia-Pacific (APAC) MRI systems market in 2023.
"As India grapples with the challenges posed by various diseases, MRI scanners have become crucial in enhancing patient care, enabling informed decision-making, and offering a non-invasive three-dimensional view of the human body. Multinational players such as GE Healthcare, Philips Healthcare, and Siemens Healthineers AG dominate India’s MRI Systems market,” said Ayshi Ganguly, Medical Devices Analyst at GlobalData, in a statement.
