At 8.2% CAGR, the Asia Pacific Pediatric MRI Market is Projected to be worth US$ 1,077.81 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific pediatric MRI market was valued at US$ 670.85 million in 2022 and is expected to reach US$ 1,077.81 million by 2028, registering a CAGR of 8.2% from 2022 to 2028. Rising cases of traumatic injuries and bone defects in children is the critical factor attributed to the Asia Pacific pediatric MRI market expansion. 

The rising prevalence of traumatic injuries and bone defects in children has heightened the importance of pediatric MRI as valuable diagnostic and monitoring tool in pediatric healthcare. Traumatic injuries, such as fractures, dislocations, and ligament tears, are common occurrences in childhood due to active plat, sports, and everyday accidents. Pediatric MRI players a pivotal role in the accurate evaluation of these injuries. Unlike X-rays, which provide limited soft tissue information, MRI offers detailed images of both bones and the surrounding soft tissues. This is essential for comprehensive assessment, aiding in the diagnosis and determining the extent of injuries, which can be subtle in children. Furthermore, pediatric MRI is invaluable in assessing and monitoring bone defects. Congenital bone conditions, development disorders, and abnormalities can significantly impact a child’s musculoskeletal system. MRI enables clinicians to examine these conditions in a non-invasive manner. It’s particularly vital for identifying growth plate injuries in children, which can have long-term implications for bone development. Additionally, pediatric MRI is instrumental in post-injury or post-operative monitoring. It helps healthcare providers assess the healing process and recovery, ensuring that the bones and soft tissues are regenerating correctly. The non-invasive nature of MRI is particularly advantageous in pediatrics, as it minimizes the need for repeated invasive procedures. This is expected to drive the Asia Pacific pediatric MRI market during the forecast period.

On the contrary, limitations and safety challenges associated with pediatric MRI hurdles the growth of Asia Pacific pediatric MRI market. 

Based on type, the Asia Pacific pediatric MRI market is categorized into functional brain MRI, cardiac MRI, 4D MRI, and others. The functional brain MRI segment held 41.0% market share in 2022, amassing US$ 275.07 million. It is projected to garner US$ 451.93 million by 2028 to expand at 8.6% CAGR during 2022–2028.

Based on application, the Asia Pacific pediatric MRI market is categorized into neurology, orthopedics, cardiology, oncology, and others. The neurology segment held 42.1% share of Asia Pacific pediatric MRI market in 2022, amassing US$ 282.71 million. It is projected to garner US$ 471.73 million by 2028 to expand at 8.9% CAGR during 2022–2028.

Based on product type, the Asia Pacific pediatric MRI market is bifurcated into equipment and coil design. The equipment segment held 80.2% market share in 2022, amassing US$ 537.89 million. It is projected to garner US$ 878.50 million by 2028 to expand at 8.5% CAGR during 2022–2028.

Based on age group, the Asia Pacific pediatric MRI market is categorized into adolescent (11-18 Years), child (2-11 Years), infants and toddlers (28 Days-23 Months), neonatal stage (0-27 Days), and fetal stage. The adolescent (11-18 Years) segment held 44.4% share of Asia Pacific pediatric MRI market in 2022, amassing US$ 298.07 million. It is projected to garner US$ 480.88 million by 2028 to expand at 8.3% CAGR during 2022–2028.

Based on end user, the Asia Pacific pediatric MRI market is categorized into hospitals, pediatric clinics, diagnostic centers, and others. The hospitals segment held 51.9% share of Asia Pacific pediatric MRI market in 2022, amassing US$ 348.31 million. It is projected to garner US$ 570.68 million by 2028 to expand at 8.6% CAGR during 2022–2028.

Based on country, the Asia Pacific pediatric MRI market has been categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific.  Our regional analysis states that Japan captured 28.5% share of Asia Pacific pediatric MRI market in 2022. It was assessed at US$ 191.24 million in 2022 and is likely to hit US$ 316.10 million by 2028, exhibiting a CAGR of 8.7% during 2022–2028.            

Key players operating in the Asia Pacific pediatric MRI market are GE HealthCare Technologies Inc, Hyperfine Inc, Koninklijke Philips NV, LMT Medical Systems GmbH, Siemens Healthineers AG, and Time Medical Holding among others.

• In Mar 2023, Time Medical Opens New Hong Kong Production Facility.
• In Oct 2021, Philips launches Pediatric Coaching.

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