Medical Imaging Equipment Market, By Product Type (Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Nuclear Imaging, Ultrasound, X-ray and Others (Fluoroscopy, Radiography and among Others)), By Modality (Standalone and Portable), By Application (Orthopedic, Cardiology, Oncology, Neurology, Gynecology and Others (Orthodontics and among Others)) By End User (Hospitals, Diagnostic Centers, Specialty Clinics, Ambulatory Surgical Centers and Others(Academic and Research Institutes and among Others)) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Published In : Jul 2023

Code : CMI3978

Pages :223

Formats :

Excel and PDF

Industry : Medical Devices

Market Challenges And Opportunities

Increasing prevalnce of chronic disorder
Increasing products launches by the market players

Restraints & Challenges:

Contraindications during the Mmagnetic resonance imaging procedure
High costs of installation and maintenance

Global Medical Imaging Equipment Market: Restraints

Contraindications During The Magnetic Resonance Imaging Procedure

The contraindications with magnetic resonance imaging during the diagnosis procedure of patients have restrained its demand and growth of the market over the forecast period. For instance, according to the U.S. FDA (Food and Drug Administration), the MR (magnetic resonance) environment involves a strong, static magnetic field, a magnetic field that changes with time (pulsed gradient field), and radiofrequency energy, each of which carry specific safety concerns such as:

The strong, static magnetic field can attract magnetic objects (from small items such as keys and cell phones to large, heavy items such as oxygen tanks and floor buffers) and may cause damage to the scanner or injury to the patient or medical professionals if those objects become projectiles. Careful screening of people and objects entering the MR environment is critical to ensure nothing enters the magnet area that may become a projectile.
The magnetic fields that change with time create loud knocking noises which may harm hearing if adequate ear protection is not used. They may also cause peripheral muscle or nerve stimulation that may feel like a twitching sensation.
The radiofrequency energy used during the MRI scan could lead to heating of the body. The potential for heating is greater during long MRI examinations.

Furthermore, to overcome this challenge patients should be properly guided by the professionals inorder to decrease these contraindications

High Costs Of Installation And Maintenance

Magnetic resonance imaging systems are made up of various accessories, such as scanner, superconducting coils, gradient coils, radiofrequency (RF) coils, computer systems, and others. The cost of MRI scanners is relatively high as compared to other medical imaging devices such as CT (Computed Tomography), PET(positron emission tomography) and others.

The fixed costs of these systems, consumables used for MRI systems, software, and customized services also account for a large proportion of the overall cost. Thus, high cost of purchase and initial outlay payment while making purchase are limiting magnetic resonance imaging systems market growth to some extent. For instance, in July 2020, according to the report published in the National Center for Biotechnology Information, a study was conducted to determine the LCC (Life cycle costing) of magnetic resonance imaging (MRI) machine/System at a tertiary care teaching hospital in India and concluded that the total cost of installation of MRI equipment was found to be approximately US$ 909,458 (Rs. 7,50,00,000 (INR))