MIL-OSI Economics: MRI systems market in India to grow at 11% CAGR through 2033, forecasts GlobalData

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Source: GlobalData

Magnetic resonance imaging (MRI) systems in India bear a significant responsibility in addressing the country’s disease burden. They play a crucial role in early and accurate diagnosis, monitoring disease progression, and guiding treatment plans across a wide range of medical conditions. Against this backdrop, India’s MRI systems market is expected to grow at a compound annual growth rate (CAGR) of around 11% through 2033, forecasts GlobalData, a leading data and analytics company.

GlobalData’s report, “Magnetic Resonance Imaging (MRI) Systems Market Size by Segments, Share, Regulatory, Reimbursement, Installed Base and Forecast to 2033,” reveals that India’s MRI systems market accounted for around 22% of the Asia-Pacific market in 2023.

Fujifilm India Pvt Ltd, a provider of comprehensive healthcare imaging solutions, has earlier this month launched Echelon Synergy MRI machine during the CT and MRI user conclave. The 1.5T MRI system offers flexible positioning, low energy consumption, and rapid exam times, resulting in low total ownership costs, claims the company.

Shreya Jain, Medical Devices Analyst at GlobalData, comments: “High costs, maintenance issues, power consumption, and the requirement for specialized expertise together pose obstacles to the widespread access to MRI services in India, especially in rural and underserved regions. Over the past decade, there has been a growing emphasis on innovation in radiology and imaging within the medical industry, which has led to the rapid emergence of new technologies, advancements in visualization techniques, and the integration of artificial intelligence (AI).”

Utilizing Fujifilm’s deep learning reconstruction driven by AI, the Echelon Synergy reduces noise while maintaining image quality, leading to a 50 % reduction in scan time compared to MRI systems of previous generations, according to the company.

Jain concludes: “The anticipated developments in MRI systems in India, including advanced portable and cost-effective MRI solutions, hold the potential to enhance accessibility, especially in remote regions. Furthermore, the integration of AI for image analysis and interpretation stands to elevate diagnostic precision and streamline processes.”

MIL OSI Economics