According to Future Market Insights research, during the projected period, the global portable MRI market is expected to grow at a CAGR of 6.7%. The market value is projected to increase from USD 2.8 billion in 2023 to USD 5.4 billion by 2033. The portable MRI market was valued at USD 2.7 billion at the end of 2022 and is anticipated to exhibit Y-o-Y growth of 6.1% in 2023.
| Attributes | Key Insights |
|---|---|
| Market Size, 2022 | USD 2.7 Billion |
| Market Size, 2023 | USD 2.8 Billion |
| Market Size, 2033 | USD 5.4 Billion |
| Value CAGR (2023 to 2033) | 6.7% |
The preferred method for spotting potential pathology in many clinical neurological applications is magnetic resonance imaging (MRI). The major magnetic field strengths have been increased, gradient hardware has been improved, radio frequency (RF) coil technology has advanced, and expedited acquisition techniques have been developed, however these gains in MRI technology have come at the expense of these factors.
Exquisite spatial resolution, sensitivity to numerous facets of tissue microstructure, and thorough mapping of tissue metabolites are only a few of these developments. Sadly, mobility has been sacrificed in order to advance hardware and technology.
The only places that can afford to use MRI technology are large urban hospitals or well-equipped research universities due to their increasing size, weight, and power requirements as a result of these technological advancements.
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The global portable MRI market recorded a historic CAGR of 5.5% in the last 5 years from 2017 to 2022. The market value for the global portable MRI market was around 32.3% of the overall USD 8.3 billion of the global magnetic resonance imaging (MRI) market.
Semi Annual Market Update
| Particular | Value CAGR |
|---|---|
| H1 | 5.44% (2022 to 2032) |
| H2 | 7.94% (2022 to 2032) |
| H1 | 5.46% (2023 to 2033) |
| H2 | 7.96% (2023 to 2033) |
In order to facilitate quick and well-informed clinical decision-making, point-of-care diagnostics refers to the immediate availability of medical tests and imaging at the patient's site. By enabling real-time on-site imaging and eliminating the need for patient transportation to far-off imaging facilities, portable MRI equipment have transformed healthcare.
The need for faster and more practical patient treatment, particularly in emergency situations in remote or underserved areas, fuels this trend. Patient results are directly impacted by portable MRI's capacity to deliver timely and reliable diagnostic data, which enables medical personnel to quickly begin the proper treatments.
Likewise, using portable MRI scanners for point-of-care diagnostics lowers patient fear and boosts compliance, which is beneficial for young patients and those who have claustrophobia. The use of portable MRI for point-of-care diagnostics is increasing as healthcare systems place a higher priority on accessibility and efficiency, which is fueling market growth and innovation in mobile medical imaging technology.
The market for portable MRIs is expanding as a result of the increasing prevalence of chronic disorders, notably ailments like strokes. The need for prompt and precise diagnostic imaging to evaluate brain health and inform treatment choices is expanding as the number of strokes occurs.
According to the article published in the Science Advances Journal on April 2022, every year, 15 billion people worldwide suffer from strokes, which are the leading cause of disability and death.
Faster access to imaging services, particularly in emergency and critical care settings, is made possible by portable MRI machines. Their portability and small size enable quick deployment, facilitating immediate stroke patient assessment. This skill facilitates early intervention and individualized treatment strategies, improving patient outcomes. Therefore, the need to address the increased incidence of chronic disorders like strokes benefits the portable MRI market, placing these products as essential instruments for effective and efficient healthcare delivery
Cost and affordability pose a significant restraint on the portable MRI market growth. Developing advanced, compact MRI technology while maintaining competitive pricing can challenge manufacturers. Research, development, and manufacturing costs can result in higher product prices, limiting adoption, particularly in resource-constrained healthcare settings.
According to the article published in Science Journal on February 2023, the Swoop scanner from Hyperfine cost around USD 2,50,000 per piece.
Balancing innovation with cost-effectiveness is crucial to overcome this obstacle and ensure widespread accessibility to portable MRI technology, addressing budgetary concerns and driving broader market acceptance.
Market Growth Outlook by Key Countries
| Country | Value CAGR |
|---|---|
| United States | 6.1% |
| Germany | 7.9% |
| United Kingdom | 6.3% |
| Japan | 6.9% |
| China | 7.0% |
| India | 6.7% |
The United States dominates the global market with 30.9% market share in 2022 and is projected to continue experiencing high growth throughout the forecast period.
With the launch of a low-field portable MRI (pMRI) device operating at 0.064 T, the portable MRI market in the United States has experienced a significant breakthrough. Neuroimaging capabilities have been revolutionized by this ground-breaking solution, which has been placed carefully beside the bedsides of intensive care patients.
The acquisition of crucial sequences like T1-weighted (T1W), T2-weighted (T2W), fluid-attenuated inversion recovery (FLAIR), and diffusion-weighted imaging (DWI) is made easier by the pMRI, which is comparable to typical high-field MRI scanners.
This portable MRI is unique due to its portability and built-in security. The low-field pMRI does not require specialist shielding or present dangers from neighboring ferromagnetic hospital equipment, in contrast to its high-field counterparts. It's crucial to remember that this method allays worries about ionizing radiation exposure that are frequently connected to fixed and mobile non-contrast CT (NCCT) imaging. Its user-friendliness, which eliminates the requirement for an in-house MRI technician to operate it, is a unique feature.
An important step toward affordable and secure neuroimaging at the point of care has been made with the arrival of low-field pMRI in the United States market.
China dominates the global market with 7.3% of the market share in 2022. Due to the rise of Cesarean scar pregnancy (CSP), the market for portable MRI scanners is expanding in China. For an appropriate diagnosis and treatment of this medical condition, detailed imaging is required.
Most women with CSP are asymptomatic, with the most frequent symptom being light vaginal bleeding occasionally accompanied by slight abdomen pain. Therefore, magnetic resonance imaging (MRI) and ultrasonography are the two main imaging tests used for diagnosis.
According to the article published in Medicine (Baltimore) Journal on December 2021, China has one of the highest cesarean-section rates in Asia, at 46.2%, according to the World Health Organization (WHO).
For examining CSP instances, portable MRI scanners provide a practical and effective alternative, enabling prompt interventions and lowering the hazards connected with conventional imaging techniques.
They are a crucial tool in addressing CSP due to their portability and sophisticated imaging capabilities, which also fuels demand within the Chinese healthcare system and encourages the adoption of portable MRI technologies for better patient care.
Germany holds about 6.8% share in the global market in 2022 and is projected to increase during the forecast period. The rising popularity of home healthcare is fueling the expansion of the portable MRI industry in Germany. Portable MRI scanners offer an essential diagnostic tool that may be simply delivered to the patient's house as medical services move more and more in-home.
This makes imaging and monitoring more effective, especially for people with chronic diseases or limited mobility. These devices' mobility and ease of use match the desire for complete home-based medical care, which encourages their use in the German healthcare system and spurs market expansion.
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Market Growth Outlook by Key Products
| Product | Value CAGR |
|---|---|
| Superconducting-magnet-based portable MRI | 6.8% |
| Electromagnet-based portable MRI | 7.4% |
| Permanent-magnet-based portable MRI | 6.1% |
Superconducting-magnet-based portable MRI within the type segment hold a revenue share of 39.7% in 2022, and the same trend is being followed over the forecasted period. Due to the enhanced image quality and diagnostic accuracy that derive from its ability to deliver higher magnetic field strengths make it the favored option for sophisticated and precise imaging applications, which accounts for its dominance in the portable MRI market.
Market Growth Outlook by Key Applications
| Application | Value CAGR |
|---|---|
| Neurology | 7.2% |
| Musculoskeletal | 6.1% |
| Gastroenterology | 7.7% |
| Others | 8.1% |
Neurology held a market share of 46.8% in 2022. Due to the urgent requirement for quick, high-quality imaging, neurology leads the portable MRI industry. Portable MRI units are very popular in this application area because they provide quick on-site scans that help with speedy neurological disorder diagnosis and treatment.
Market Growth Outlook by Key End Users
| End User | Value CAGR |
|---|---|
| Hospitals | 6.1% |
| Diagnostic Centers | 6.9% |
| Ambulatory Surgery Centers | 7.6% |
| Others | 8.3% |
Hospital segment dominates the end user segment holding 43.2% market share in 2022. Due to their demand for diverse diagnostic imaging, patient volume, and existing infrastructure, hospitals dominate the portable MRI industry. They want instant access to enhanced imaging and on-site mobility, which will increase adoption and give them market domination.
Strategic partnerships are a priority for leading portable MRI companies as they work to create new product lines and expand their global consumer base.
Similarly, recent developments related to companies in the portable MRI market have been tracked by the team at Future Market Insights, which are available in the full report.
Related Market Growth Outlook Scenario
| Particulars | Value CAGR |
|---|---|
| Magnetic Resonance Imaging (MRI) Contrast Agents Market | 4.2% |
| MRI-safe CRT Devices Market | 9.4% |
| Portable Ultrasound Bladder Scanner Market | 5.9% |
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value, Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and Middle East and Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Argentina, United Kingdom, Germany, Italy, Russia, Spain, France, BENELUX, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Türkiye, GCC Countries, South Africa, and Northern Africa |
| Key Market Segments Covered | Product, Application, End User and Region |
| Key Companies Profiled | Canon Medical Systems Corporation; GE Healthcare; Siemens Healthineers; Philips Healthcare; Hyperfine; Voxelgrids; PrizMed Imaging.; Koninklijke Philips N.V.; Hitachi Ltd; Mitsubishi Electric |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Pricing | Available upon Request |
The global market is currently valued at around USD 2.7 billion in 2022.
The global estimate for 2023 is around USD 2.8 billion.
The global market is set to reach a valuation of around USD 5.4 billion by the end of 2033.
Sales of the market are set to witness growth at a CAGR of 6.7% between 2023 and 2033.
Demand for the global market increased at a 5.5% CAGR from 2017 to 2022.
The United States, China, Japan, Germany, and United Kingdom account for most demand within the market, currently holding around 56.3% market share.
The United States accounts for around 30.9% share of the global market in 2022.
China accounts for around 7.3% share of the global market in 2022.
The Germany market held a share of about 23.1% in the European market in 2022.
Superconducting-magnet-based portable MRI segment held 39.7% share of the global market in 2022.
| Estimated Market Size (2024) | USD 139.9 million |
|---|---|
| Projected Market Revenue (2034) | USD 188.8 million |
| Value CAGR (2024 to 2034) | 3.1% |
| Estimated Size (2022) | USD 550.5 million |
|---|---|
| Projected Size (2032) | USD 1511 million |
| Value-based CAGR | 9.6% |
| Market Value 2022 | USD 910.9 Million |
|---|---|
| Market Value 2029 | USD 1.23 Billion |
| CAGR 2022 to 2029 | 4.4% |
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Portable MRI Market
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