Market Trends of Middle East And Africa Magnetic Resonance Imaging (MRI) Industry
The Oncology Segment is Expected to Show Significant Growth During the Forecast Period
The increasing prevalence of cancer, coupled with research studies, is expected to drive market growth in the future. The oncology segment deals with the diagnosis and treatment of tumors and cancers. According to the 2022 estimations of the International Agency for Research on Cancer (IARC), 36,096 new cancer cases are likely to be reported in Israel by 2030, expected to rise to 44,166 by 2040. Thus, with the rising incidence of cancer, the magnetic resonance imaging market in the Middle East and Africa is estimated to witness healthy growth over the forecast period.
According to a research paper published in March 2022 in ASCO journal, 2.4% of all new cancer cases worldwide, or 463,675 cases, were predicted to occur in Arab nations. 糖心vlog传媒 52.9% of that total were malignancies in women, compared to 47.8% globally. Compared to the global average of 186 per 100,000 people, the age-standardized incidence rate (ASIR) for Arab women was 137.7 per 100,000 (WFCs). Therefore, it is anticipated that the increased frequency of cancer among Arab females relative to the global average will spur market expansion.
In addition, advanced technologies and artificial intelligence in MRI systems are likely to make it possible to diagnose cases without any significant symptoms so that patients can get the treatment they need in the early stages of the disease.
For instance, in February 2023, at Arab Health 2023, United Imaging announced multiple agreements in the Middle East and Africa, including South Africa, for the uAiFI-powered 1.5T Wide Bore MRI System and PET/MR uPMR 790. It is a newly commissioned MRI machine with a multifunctional machine capable of diagnosing various body parts, including a multiparametric MRI of the prostate gland and the breast and MR spectroscopy.
Thus, the high incidence of cancer cases and recent developments in better diagnostic facilities are raising awareness among people about early diagnosis of diseases for prevention and faster cure. These factors are expected to boost the segment growth over the forecast period.
South Africa is Expected to Hold Significant Share of the Market During the Forecast Period
South Africa is expected to hold a major share of the market studied over the forecast period owing to factors such as the increasing prevalence of diseases and the increasing product launches by key players. For instance, in February 2023, United Imaging devices were deployed at several hospitals and imaging facilities in South Africa, Kenya, and more. The company's partners include Wits Donald Gordon Molecular Imaging in South Africa.
In addition, the demand for MRI scanners for the detection and diagnosis of cancer/tumor cases is anticipated to increase with the country's rising cancer prevalence. This is anticipated to fuel the country's market expansion. The burden of chronic diseases is anticipated to rise as the country's geriatric population rises, which is likely to stimulate the development of magnetic resonance imaging.
For instance, according to 2023 data published by the Republic of South Africa, in 2022, the estimated population of South Africa comprised more than five million people aged 60 or older. This represents a 9.2% share of the overall South African population. The number of older persons increased across all provinces, with Gauteng (1.4 million) and KwaZulu-Natal (940 thousand) having the highest elderly population in 2022. Thus, as the geriatric population increases, the utilization of MRI services is anticipated to rise, thereby promoting market growth over the forecast period.
Furthermore, the presence of competitors, product launches, and collaboration in the field of MRI are anticipated to drive market growth in South Africa. For instance, in January 2023, the SAHMRI-based Jones Radiology Clinical Research Imaging Centre (CRIC) introduced a cutting-edge MRI scanner poised to transform MRI applications in both clinical and research settings. Thus, such technological advancements are providing better diagnostic options to the people in the country, thereby driving the market.
Thus, due to the increase in the geriatric population and the rise in MRI product launches, South Africa is anticipated to hold a major share of the market studied over the forecast period.
