Analysis of the $5.67 Billion Pediatric MRI Market, 2023 to 2028, Featuring Profiles of Siemens Healthineers, Advanced Imaging Research, LMT Medical Systems, and Hyperfine Among Other Major Players

DUBLIN, Aug. 17, 2023 /PRNewswire/ -- The "Pediatric MRI Market Forecast to 2028 by Type, Application, Product Type, Age Group, End-user, and Region" report has been added to ResearchAndMarkets.com's offering.

The global pediatric MRI market is set to achieve significant growth, soaring to a valuation of $5.67 billion by 2028 from $3.65 billion in 2022. This remarkable expansion is projected to occur at a Compound Annual Growth Rate (CAGR) of 7.6% between 2022 and 2028.

Driving Forces and Growth Catalysts

Several factors contribute to the robust growth of the pediatric MRI market. The rise in premature births and pediatric diseases, coupled with the adoption of digital health technology to enhance patient care, are key drivers propelling market expansion. Additionally, heightened efforts to create awareness about pediatric safety are anticipated to further fuel growth during the forecast period.

Technological Innovations to Ease Pediatric MRI Experience

Traditional magnetic resonance imaging (MRI) procedures can lead to anxiety, particularly among pediatric patients and their families. To counteract this, children often require sedation for the procedure, increasing both costs and the need for anesthesia expertise. However, advancements in technology and simulations are aiming to reduce the need for sedation through innovative approaches that decrease the number of anesthesia-dependent procedures.

Virtual Reality and Philips' Ambient Experience

One of the transformative solutions involves MRI simulators, specifically targeting children's adaptation to the procedure. Virtual reality, achieved through a head-mounted display (HMD), emerges as an effective tool in alleviating anxiety for pediatric patients. Leading medical technology company Philips Healthcare introduces its Ambient Experience program, incorporating architectural design, lighting, and sound technologies to create a calming environment for MRI scans. This approach, called the Ambient Experience in-bore Connect, utilizes videos projected inside the MRI bore to relax and guide patients.

Philips' collaboration with The Walt Disney Company introduces specially designed Disney animation to further enhance the experience. By offering themed animations that play before and during the scan, the partnership aims to reduce children's anxiety. Clinical research conducted across six European hospitals explores the impact of this program on both pediatric patients and staff.

Segmentation and Market Outlook

The global pediatric MRI market is segmented based on type, application, product type, age group, and end user. Functional brain MRI (fMRI), cardiac MRI, 4D MRI, and other types constitute the market's type segment. Functional brain MRI (fMRI) led this segment in 2022, while 4D MRI is expected to exhibit the highest CAGR between 2022 and 2028.

In terms of applications, cardiology, orthopedics, neurology, oncology, and others are represented. Neurology held the largest share in 2022 and is projected to achieve the highest CAGR during the forecast period. The market's product type is divided into equipment and coil design. Equipment led this segment in 2022 and is expected to maintain the highest CAGR until 2028.

The pediatric MRI market further segments by age group, including the fetal stage, neonatal stage (0-27 days), infant and toddler (28 days to 23 months), child (2-11 years), and adolescent (12-18 years). The adolescent segment led in 2022, while the child segment is anticipated to exhibit the highest CAGR during the forecast period.

Hospitals, pediatric clinics, diagnostic centers, and other end users constitute the final segmentation. Hospitals held the largest share in 2022 and are expected to maintain the highest CAGR during the forecast period.

Expanding Opportunities and Growing Market

The global pediatric MRI market is positioned for remarkable growth, driven by technological advancements and innovative approaches that enhance the MRI experience for pediatric patients. As awareness increases and patient care improves, the market is poised to reach new heights, benefiting both patients and medical professionals alike.

Key Attributes

Key Topics Covered

1. Introduction
1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Pediatric MRI Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Experts Opinion

5. Pediatric MRI Market - Key Market Dynamics
5.1 Market Drivers
5.2 Market Restraints
5.3 Market Opportunities
5.4 Future Trends
5.5 Impact Analysis

6. Pediatric MRI Market - Global Analysis
6.1 Global Pediatric MRI Market Revenue Forecast and Analysis
6.2 Global Pediatric MRI Market, By Geography - Forecast and Analysis
6.3 Market Positioning of Key Players

7. Global Pediatric MRI Market - Revenue and Forecast to 2028 - by Type
7.1 Overview
7.2 Pediatric MRI Market Revenue Share, by Type (2022 and 2028)
7.3 Functional Brain MRI (fMRI)
7.4 Cardiac MRI
7.5 4D MRI
7.6 Others

8. Global Pediatric MRI Market - Revenue and Forecast to 2028 - By Application
8.1 Overview
8.2 Pediatric MRI Market Revenue Share, by Application (2022 and 2028)
8.3 Neurology
8.4 Orthopedics
8.5 Cardiology
8.6 Oncology
8.7 Others

9. Global Pediatric MRI Market - Revenue and Forecast to 2028 - By Product Type
9.1 Overview
9.2 Pediatric MRI Market Revenue Share, by Product Type (2022 and 2028)
9.3 Equipment
9.4 Coil Design

10. Global Pediatric MRI Market - Revenue and Forecast to 2028 - By Age Group
10.1 Overview
10.2 Pediatric MRI Market Share, by Age Group, 2022 and 2028, (%)
10.3 Fetal Stage
10.4 Neonatal Stage (0-27 Days)
10.5 Infant and Toddler (28 Days To 23 Months)
10.6 Child (2-11 Years)
10.7 Adolescents (12 To 18 Years)

11. Global Pediatric MRI Market - Revenue and Forecast to 2028 - By End User
11.1 Overview
11.2 Pediatric MRI Market Share, by End User, 2022 and 2028, (%)
11.3 Hospitals
11.4 Pediatric Clinics
11.5 Diagnostic Centres
11.6 Others

12. Global Pediatric MRI Market - Revenue and Forecast to 2028 - Geographic Analysis
12.1 North America: Pediatric MRI Market
12.2 Europe: Pediatric MRI Market
12.3 Asia Pacific: Pediatric MRI Market
12.4 Middle East & Africa Pediatric MRI Market
12.5 South & Central America Pediatric MRI Market

13. Impact of COVID-19 Pandemic on Pediatric MRI Market
13.1 North America: Impact Assessment of COVID-19 Pandemic
13.2 Europe: Impact Assessment of COVID-19 Pandemic
13.3 Asia Pacific: Impact Assessment of COVID-19 Pandemic
13.4 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
13.5 South & Central America: Impact Assessment of COVID-19 Pandemic

14. Global Pediatric MRI Market - Industry Landscape
14.1 Overview
14.2 Growth Strategies in Pediatric MRI Market
14.3 Organic Growth Strategies
14.4 Inorganic Growth Strategies

15. Company Profiles
15.1 Siemens Healthineers AG
15.2 Advanced Imaging Research Inc.
15.3 LMT Medical Systems GmbH
15.4 Hyperfine Inc.
15.5 GE HealthCare Technologies Inc
15.6 Neoscan Solutions GmbH
15.7 Aspect Imaging Ltd.
15.8 NORAS MRI products GmbH
15.9 Koninklijke Philips N.V.
15.10 Time Medical Holding

For more information about this report visit https://www.researchandmarkets.com/r/8q5roj

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