Saudi Arabia MRI Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Closed, Open), And By Application (Screening, Diagnosis, Treatment Monitoring, Research) - Forecasts From 2024 to 2029

Description

The Saudi Arabia MRI Market Size:

The Saudi Arabia MRI Market is anticipated to expand at a high CAGR over the forecast period.

Magnetic Resonance Imaging (MRI) is a type of medical imaging that gives detailed images of the internal structures of the body without the need for invasive procedures. In the Kingdom of Saudi Arabia, MRI is now entrenched in modern health care, enabling health practitioners to simultaneously detect and monitor one of several medical conditions. The driving factors behind the adoption of MRI technology are the increasing prevalence of, and prevalence of chronic diseases, advancement in medical imaging technologies, and increasing demand for non-invasive procedures for diagnostic purposes. The state of MRI as part of the healthcare reforms outlined in Vision 2030 highlights the commitment to improve diagnostic capabilities, health outcomes for patients, and the establishment of Saudi Arabia as the regional destination for medical tourism. The focus on MRI technology within the comparatively strict role of medical technology signifies its importance as part of the continued momentum in the Saudi healthcare landscape.

Saudi Arabia MRI Market Overview & Scope

The Saudi Arabia MRI Market is segmented by:

• Field-Strength: By field-strength by market segmentation, the MRI market could be categorized into 3 segments as low-field, mid-field and high-field MRI. High-field MRI is often the most dominant form for hospitals and qualified diagnostic specialists, primarily, due to higher resolution, faster scan times, and larger support for complex diagnostics; therefore high-field MRI is often the standard for medical imaging services.
• By Application: MRI can be segmented by application, or end-user, which is also cross-referenced with hospitals, diagnostic centres, and clinics. MRI can also be applied to neurology, orthopaedics, cardiology, or oncology. MRI imaging application has great diagnostic requirements; for neurology, this segment is larger because MRI is a requirement for imaging the brain and spinal cord, considering its complementary role for the diagnosis of neurological disorders early and effectively monitoring treatment results.
• End-User Industry: An end-user reflects on where the MRI technology is applied for the broad scope of applications; hospitals lead in adopting the number of MRI systems, perhaps mainly, due to waiting and having to service higher numbers of patients, volume, structured analysis systems, and added capacity to invest in advanced MRI systems when the medical need is warranted.
• Region: Geographically, the market is expanding at varying rates depending on the location.

Top Trends Shaping the Saudi Arabia MRI Market

1. Adoption of High-Field MRI Systems
   Increasingly, hospitals and diagnostic centres are acquiring high-field MRI machines for better resolution and expedited scanning. This is due to the increased demand for better diagnostic capabilities in neurology, oncology, and orthopaedics. Better diagnostic capabilities mean more patients treated faster and improved clinical decisions.
2. Integration of AI and Advanced Imaging Software
   MRI systems are becoming integrated with AI and advanced imaging software to further enhance image analysis, automated reports, and aid in the early detection of disease. AI-based solutions enhance accuracy, lower human error, and expedite workflows to align with the Saudi Vision 2030 healthcare modernisation goals.

Saudi Arabia MRI Market Growth Drivers vs. Challenges

Drivers:

• The growing burden of chronic disease and the growth of the elderly population: Factors attributed to the growth of the market across the region include the rising prevalence of chronic diseases. Around 20% of people in the country will be aged over 65 years by 2050. Additionally, Saudi Arabia is one of the leading countries in the Middle East region that has a high prevalence of chronic diseases and their associated risk factors.
• The Higher penetration of organised health: High penetration of organised health coverage in the healthcare sector of Saudi Arabia is the key driver for the growth of the MRI market across the country. Health insurance and publicly funded healthcare schemes have become one of the major supporting factors for the diagnostic industry in Saudi Arabia. Moreover, government incentives also play a vital role in encouraging higher preventive testing among the population, which is anticipated to drive the overall market growth.

Challenges:

• Shortages of workforce: Saudi Arabia's population growth has led to a rise in demand for healthcare services, including diagnostic imaging, causing a shortage of skilled professionals. This shortage can impact the efficiency and quality of diagnostic services. Healthcare providers in Saudi Arabia often compete for talent, leading to staffing challenges. Building a skilled workforce requires investment in education and training programs. Retaining healthcare professionals can be challenging, as some may seek opportunities in other countries with better working conditions. Workforce shortages may vary by region, especially in remote and underserved areas.

Key Development

• The Saudi government continues to invest in healthcare infrastructure as part of its Vision 2030 initiative. This includes the expansion of medical facilities and the integration of advanced diagnostic technologies, such as MRI systems, to improve patient care and attract international medical tourism.

Saudi Arabia MRI Market Segmentation:

• By Field Strength
  • Low-field MRI
  • Mid-field MRI
  • High-field MRI
• By Application
  • Neurology
  • Orthopedics
  • Cardiology
  • Oncology
• By End-User Industry
  • Hospitals
  • Diagnostic Centers
  • Clinics

Table Of Contents

1. EXECUTIVE SUMMARY 

2. MARKET SNAPSHOT

2.1. Market Overview

2.2. Market Definition

2.3. Scope of the Study

2.4. Market Segmentation

3. BUSINESS LANDSCAPE 

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities 

3.4. Porter’s Five Forces Analysis

3.5. Industry Value Chain Analysis

3.6. Policies and Regulations 

3.7. Strategic Recommendations 

4. TECHNOLOGICAL OUTLOOK 

5. SAUDI ARABIA MRI MARKET BY FIELD STRENGTH

5.1. Introduction 

5.2. Low-field MRI

5.3. Mid-field MRI

5.4. High-field MRI

6. SAUDI ARABIA MRI MARKET BY APPLICATION

6.1. Introduction 

6.2. Neurology

6.3. Orthopedics

6.4. Cardiology

6.5. Oncology

7. SAUDI ARABIA MRI MARKET BY END-USER

7.1. Introduction 

7.2. Hospitals

7.3. Diagnostic Centers

7.4. Clinics

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. General Electric (GE) Healthcare

9.2. Siemens Healthineers

9.3. Philips Healthcare

9.4. Canon Medical Systems

9.5. FUJIFILM Holdings Corporation

9.6. Hitachi Medical Systems

9.7. Esaote SpA

9.8. Toshiba Corporation

9.9. Medtronic

9.10. Agfa-Gevaert

10. APPENDIX

10.1. Currency 

10.2. Assumptions

10.3. Base and Forecast Years Timeline

10.4. Key benefits for the stakeholders

10.5. Research Methodology 

10.6. Abbreviations 

Companies Profiled

General Electric (GE) Healthcare

Siemens Healthineers

Philips Healthcare

Canon Medical Systems

FUJIFILM Holdings Corporation

Hitachi Medical Systems

Esaote SpA

Toshiba Corporation

Medtronic

Agfa-Gevaert

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