Summary

Saudi Arabia magnetic resonance imaging market is projected to grow at a significant rate during the forecast period. The growth can be attributed to the rising demand for non-invasive medical procedures and increasing investments by the government to improve healthcare infrastructure in the country. Besides, increasing awareness about the benefits of early diagnosis and advances in technology such as inclusion of MRI with PET or CET for improved imaging possibilities with less exposure to radiations are contributing to the growth of Saudi Arabia magnetic resonance imaging market. Improvements in radiology technology has led to the increased adoption of imaging systems. During COVID-19 pandemic, the demand for MRI significantly increased to identify pulmonary complications in order to take necessary actions and improve patient’s well-being. Moreover, the increasing incidences of cancer, cardiovascular diseases, or neurological diseases are increasing the demand for diagnostic machines for identifying malignancies, which is anticipated to contribute the growth of Saudi Arabia magnetic resonance imaging market. Patients aged between 40 to 50 account for 22% of the population, and they have to undergo MRI scans as a part of regular checkups, analyze the chronic disease symptoms, etc. Market players involved in manufacturing of the magnetic resonance imaging devices are increasing research and development activities for innovative product development, which is anticipated to drive the Saudi Arabia magnetic resonance imaging market growth in the coming years. However, high costs associated with the installation and maintenance of imaging equipment could restrain the growth of Saudi Arabia magnetic resonance imaging market. The Saudi Arabia magnetic resonance imaging market segmentation is based on field strength, type, architecture, source, application, end user, competitional landscape, and regional distribution. Based on field strength, the market is segmented into High-Field MRI Systems (1.5T MRI Systems, 3T MRI Systems), Low-to-Mid-Field MRI Systems (<1.5T), Very-High-Field MRI Systems (4T and above). The high-field MRI systems are anticipated to dominate the Saudi Arabia magnetic resonance imaging market as several key market players such as Philips Healthcare Saudi Arabia, GE Healthcare, etc. have a strong product portfolio devoted to the imaging systems of this segment. Besides, the 1.5T MRI systems have superior imaging qualities and high spatial resolution, which is attributing to their dominance in the Saudi Arabia magnetic resonance imaging market. Major players operating in the Saudi Arabia magnetic resonance imaging market are GE Healthcare, Philips Healthcare Saudi Arabia, Siemens Healthineers AG., Canon Medical Systems Corporation, Hitachi Medical Corporation, among others. Companies involved in the Saudi Arabia magnetic resonance imaging market are strengthening their product portfolio comprising MRI systems of varying lengths and strengths for a robust revenue. Years considered for this report:Historical Years: 2017-2020Base Year: 2021Estimated Year: 2022EForecast Period: 2023F–2027FObjective of the Study: • To analyze the historical growth in the market size of Saudi Arabia magnetic resonance imaging market from 2017 to 2021.• To estimate and forecast the market size of Saudi Arabia magnetic resonance imaging market from 2022E to 2027F and growth rate until 2027F. • To classify and forecast Saudi Arabia magnetic resonance imaging market based on field strength, type, architecture, source, application, end user, regional distribution, and company. • To identify dominant region or segment in the Saudi Arabia magnetic resonance imaging market.• To identify drivers and challenges for Saudi Arabia magnetic resonance imaging market.• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia magnetic resonance imaging market.• To identify and analyze the profile of leading players operating in Saudi Arabia magnetic resonance imaging market.• To identify key sustainable strategies adopted by market players in Saudi Arabia magnetic resonance imaging market.TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the Saudi Arabia. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across saudi Arabia.TechSci Research calculated the market size of Saudi Arabia magnetic resonance imaging market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.Key Target Audience:• Magnetic resonance imaging equipment manufacturers• Market research and consulting firms• Government bodies such as regulating authorities and policy makers• Organizations, forums, and alliances related to magnetic resonance imagingThe study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities. Report Scope:In this report, Saudi Arabia magnetic resonance imaging market has been segmented into following categories, in addition to the industry trends which have also been detailed below:• Saudi Arabia Magnetic Resonance Imaging Market, By Field Strength:o High-Field MRI Systems o 1.5t MRI Systemso 3t MRI Systemso Low-to-Mid-Field MRI Systems (<1.5t)o Very-High-Field MRI Systems (4t and Above)• Saudi Arabia Magnetic Resonance Imaging Market, By Type:o Fixedo Mobile• Saudi Arabia Magnetic Resonance Imaging Market, By Architecture:o Closed MRI Systemso Open MRI Systems• Saudi Arabia Magnetic Resonance Imaging Market, By Source:o Domestico Import• Saudi Arabia Magnetic Resonance Imaging Market, By Application:o Brain and Neurologicalo Oncologyo Spine and Musculoskeletalo Abdominalo Cardiaco Others• Saudi Arabia Magnetic Resonance Imaging Market, By End User:o Hospitalso Imaging Centerso Ambulatory Surgical Centerso Others• Saudi Arabia Magnetic Resonance Imaging Market, By Region:o Southern Regiono Eastern Region o Western Regiono Northern & Central region, Competitive LandscapeCompany Profiles: Detailed analysis of the major companies present in Saudi Arabia magnetic resonance imaging market.Available Customizations:With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:Company Information• Detailed analysis and profiling of additional market players (up to five).

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