Superconducting Magnetic Resonance Equipment Market Report 2024 (Global Edition)

Global Superconducting Magnetic Resonance Equipment Market Report 2024 Market Size Split by Product Type (Low-Field MRI Equipment , High Field MRI Equipment , Very High Field MRI Equipment , Ultra ...

Superconducting Magnetic Resonance Equipment Market Report Description

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Competitive Landscape of the Superconducting Magnetic Resonance Equipment Market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

Superconducting Magnetic Resonance Equipment Industry News

In December 2022, Royal Philips and superconducting magnetics researchers partnered to develop helium-free MRI scanners to reduce size, weight, and costs. With helium reserves dwindling, this innovation offers potential long-term solutions to address supply shortages and enhance patient accessibility. 

In March 2021, Hitachi developed a 1.1-meter-diameter magnesium diboride (MgB2) superconducting magnet. This magnet enables MRI imaging of the head region to begin within 10 minutes from a zero-field state, a significant improvement over conventional equipment's 1 to 2 hours.

(Source: https://www.hitachi.com/rd/news/topics/2021/0301.html)

Top Companies Market Share in Superconducting Magnetic Resonance Equipment Industry: (In no particular order of Rank)

• GE Medical Systems
• Siemens AG
• Hitachi Medical Corporation
• Royal Dutch Philips Electronics
• Canon
• ESAOTE
• SciMedix
• Xingaoyi Medical Equipment Co Ltd
• Shenyang Neusoft Medical Systems Co
• Resources Wandong Medical Equipment Co
• Shenzhen Anke High-tech Co Ltd
• Alltech Medical Systems
• ANKE
• Kampo
• Mindray
• United Imaging
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Superconducting Magnetic Resonance Equipment Market

Which Region will dominate the Superconducting Magnetic Resonance Equipment Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The region's leadership is attributed to significant investments in healthcare infrastructure, advanced research facilities, and a robust presence of key market players. Moreover, the rising prevalence of chronic diseases and increasing demand for high-resolution imaging technologies further fuel the adoption of superconducting MRI equipment in the region. These factors collectively contribute to North America's prominent position in driving the growth and development of the superconducting magnetic resonance equipment market.

Which Region is Expanding at the Fastest CAGR?

The Asia Pacific region exhibits the fastest-growing market share for superconducting magnetic resonance equipment. This growth is fueled by rapid technological advancements, increasing healthcare infrastructure development, and rising demand for advanced diagnostic solutions across countries like China, Japan, and India. Additionally, supportive government initiatives, expanding research and development activities, and the presence of key market players contribute to the region's prominence in driving market expansion and innovation in superconducting magnetic resonance equipment.

The current report Scope analyzes Superconducting Magnetic Resonance Equipment Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Superconducting Magnetic Resonance Equipment Market

According to Cognitive Market Research, the global superconducting magnetic resonance equipment market size was estimated at USD 3,415.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 1,366.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.2% from 2024 to 2031. The region benefits from established healthcare infrastructure, significant investments in research and development, and a high adoption rate of advanced medical technologies. The presence of leading market players and academic institutions also contributes to the region's dominance. Furthermore, the demand for precise diagnostic tools and the continuous advancements in medical imaging technologies drive North America's market growth. With a focus on improving patient outcomes and enhancing healthcare efficiency, the region remains at the forefront of innovation and expansion in the superconducting magnetic resonance equipment market.

• According to Cognitive Market Research, the US had a major share in the superconducting magnetic resonance equipment market, with a market size of USD 1,077.84 million in 2024, and is projected to grow at a CAGR of 1.0% during the forecast period. The US holds a significant share of the market, driven by technological innovation, robust healthcare infrastructure, and substantial research investments. 
• The Canada superconducting magnetic resonance equipment market had a market share of USD 163.93 million in 2024 and is projected to grow at a CAGR of 2.0% during the forecast period. Canada emerges as a growing country in the market, driven by increasing investments in healthcare infrastructure and research initiatives.
• The Mexico superconducting magnetic resonance equipment market is projected to grow at a CAGR of 1.7% during the forecast period, reaching a market size of USD 124.31 million in 2024.

 

Europe Superconducting Magnetic Resonance Equipment Market

Cognitive Market Research shows a market value of USD 3,415.2 million in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 1.5% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 1,024.56 million. With a strong focus on technological innovation and healthcare advancement, countries within the region are increasingly adopting these advanced imaging systems. Moreover, robust research and development activities and government initiatives supporting healthcare infrastructure contribute to market expansion. Additionally, collaborations between industry players and academic institutions further stimulate growth, fostering the development of cutting-edge technologies. As a result, Europe is poised to play a prominent role in driving the adoption and evolution of superconducting magnetic resonance equipment across various sectors and applications.

• The United Kingdom's superconducting magnetic resonance equipment market had a market share of USD 172.13 million in 2024 and is projected to grow at a CAGR of 2.3% during the forecast period. The UK holds a significant market share, driven by advancements in healthcare technology and increasing applications across research and industry sectors. 
• The French superconducting magnetic resonance equipment market is projected to grow at a CAGR of 0.7% during the forecast period, reaching a market size of USD 94.26 million in 2024.
• According to Cognitive Market Research, the German superconducting magnetic resonance equipment market was valued at USD 202.86 million in 2024 and is projected to grow at a CAGR of 1.7% during the forecast period. Germany experiences rapid growth in the market due to technological advancements and robust healthcare infrastructure. 
• The Italy superconducting magnetic resonance equipment market is projected to grow at a CAGR of 0.9% during the forecast period, reaching USD 88.11 million in 2024.
• The Russian superconducting magnetic resonance equipment market is projected to grow at a CAGR of 0.5% during the forecast period, reaching USD 158.81 million in 2024.
• The Spanish superconducting magnetic resonance equipment market is projected to grow at a CAGR of 0.6% during the forecast period, reaching a market size of USD 84.01 million in 2024.
• The Luxembourg superconducting magnetic resonance equipment market is projected to grow at a CAGR of 1.6% during the forecast period, reaching a market size of USD 31.76 million in 2024.
• The Portugal superconducting magnetic resonance equipment market is projected to grow at a CAGR of 1.3% during the forecast period, reaching a market size of USD 21.52 million in 2024.
• The Greece superconducting magnetic resonance equipment market is projected to grow at a CAGR of 1.8% during the forecast period, reaching USD 12.29 million in 2024.
• The rest of Europe's superconducting magnetic resonance equipment market is projected to grow at a CAGR of 0.2% during the forecast period, reaching a market size of USD 158.81 million in 2024.

Asia Pacific Superconducting Magnetic Resonance Equipment Market

According to Cognitive Market Research, the global superconducting magnetic resonance equipment market size was estimated at USD 3,415.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 785.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031. The Asia Pacific region demonstrates the fastest growth fueled by rapid industrialization, burgeoning healthcare infrastructure, and increasing investments in research and development across countries like China, India, and Japan. Furthermore, rising awareness about the benefits of advanced diagnostic imaging technologies and expanding applications in various sectors contribute to the region's accelerated growth. Moreover, strategic initiatives by market players to penetrate emerging economies and collaborations with local partners facilitate market expansion, positioning Asia Pacific as a key contributor to the global growth trajectory of the superconducting magnetic resonance equipment market.

• According to Cognitive Market Research, the China superconducting magnetic resonance equipment market was valued at USD 353.47 million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period. China's increasing investment in healthcare infrastructure and research drives the growing sales of this equipment.
• The Japan superconducting magnetic resonance equipment market is projected to grow at a CAGR of 3.5% during the forecast period, reaching a market size of USD 108.40 million in 2024.
• The India superconducting magnetic resonance equipment market had a market share of USD 94.26 million in 2024 and is projected to grow at a CAGR of 6.8% during the forecast period. India exhibits a growing demand for superconducting magnetic resonance equipment, driven by advancements in healthcare infrastructure and increasing diagnostic needs.
• The South Korean superconducting magnetic resonance equipment market is projected to grow at a CAGR of 4.1% during the forecast period, reaching a market size of USD 78.55 million in 2024.
• The Australian superconducting magnetic resonance equipment market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 40.85 million in 2024.
• The South East Asia superconducting magnetic resonance equipment market is projected to grow at a CAGR of 6.0% during the forecast period, with a market size of USD 54.20 million in 2024.
• The Rest of the Asia Pacific superconducting magnetic resonance equipment market is projected to grow at a CAGR of 4.8% during the forecast period, reaching a market size of USD 55.77 million in 2024.

 

South America Superconducting Magnetic Resonance Equipment Market

According to Cognitive Market Research, the global superconducting magnetic resonance equipment market size was estimated at USD 3,415.2 Million, out of which Latin America market of more than 5% of the global revenue with a market size of USD 170.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2031. The region experiences rising demand for advanced medical diagnostics and research tools, driving the adoption of superconducting MRI systems: increased healthcare spending and efforts to upgrade medical infrastructure fuel market growth. Additionally, expanding research activities in materials science and chemistry contribute to the demand for superconducting magnetic resonance equipment. Moreover, governmental initiatives aimed at promoting scientific research and technological innovation further stimulate market expansion in Latin America, positioning the region as a significant player in driving the growth of the superconducting magnetic resonance equipment market.

• According to Cognitive Market Research, the Brazil superconducting magnetic resonance equipment market size was valued at USD 73.09 million in 2024 and is projected to grow at a CAGR of 3.0% during the forecast period. Brazil's expanding healthcare infrastructure and research initiatives contribute to the growth of the superconducting magnetic resonance equipment market in the region.
• The Argentina superconducting magnetic resonance equipment market had a market share of USD 28.69 million in 2024 and is projected to grow at a CAGR of 3.3% during the forecast period. Argentina experiences growth in demand for superconducting magnetic resonance equipment due to expanding healthcare infrastructure and advancements in medical technology.
• The Colombia superconducting magnetic resonance equipment market is projected to grow at a CAGR of 2.2% during the forecast period, reaching USD 15.20 million in 2024.
• The Peru superconducting magnetic resonance equipment market is projected to grow at a CAGR of 2.6% during the forecast period, reaching a market size of USD 14.00 million in 2024.
• The Chile superconducting magnetic resonance equipment market is projected to grow at a CAGR of 2.7% during the forecast period, reaching a market size of USD 12.29 million in 2024.
• The Rest of Latin America's superconducting magnetic resonance equipment market is projected to grow at a CAGR of 1.5% during the forecast period, reaching a market size of USD 27.49 million in 2024.

Middle East and Africa Superconducting Magnetic Resonance Equipment Market

According to Cognitive Market Research, the global Superconducting magnetic resonance equipment market size was estimated at USD 3,415.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 68.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.7% from 2024 to 2031. This expansion is propelled by increasing investments in healthcare infrastructure, rising adoption of advanced diagnostic technologies, and growing regional research and development activities. Furthermore, governmental initiatives to improve healthcare services contribute to the demand for superconducting MRI systems. As the region witnesses rapid economic development and technological advancements, there is a heightened focus on enhancing medical imaging capabilities, driving the market's growth trajectory in the Middle East and Africa.

• According to Cognitive Market Research, the GCC Countries' superconducting magnetic resonance equipment market size was valued at USD 29.23 million in 2024 and is projected to grow at a CAGR of 3.5% during the forecast period. GCC countries witness significant growth in the superconducting magnetic resonance equipment market due to increased healthcare investments and infrastructure development.
• The Egypt superconducting magnetic resonance equipment market is projected to grow at a CAGR of 3.0% during the forecast period, reaching USD 7.17 million in 2024.
• The South African superconducting magnetic resonance equipment market is projected to grow at a CAGR of 3.7% during the forecast period, reaching USD 10.79 million in 2024. South Africa experiences significant growth in this market due to increased demand for advanced medical diagnostics.
• The Turkey superconducting magnetic resonance equipment market is projected to grow at a CAGR of 2.2% during the forecast period, reaching a market size of USD 5.87 million in 2024.
• The Nigerian superconducting magnetic resonance equipment market is projected to grow at a CAGR of 1.8% during the forecast period, reaching a market size of USD 7.17 million in 2024.
• The Rest of the MEA superconducting magnetic resonance equipment market is projected to grow at a CAGR of 1.7% during the forecast period, reaching a market size of USD 8.06 million in 2024.

 

Superconducting Magnetic Resonance Equipment Market Analysis

Superconducting Magnetic Resonance Equipment Product Type Segment Analysis

According to Cognitive Market Research, low-field MRI equipment represents a major share segment in the superconducting magnetic resonance equipment market. These systems offer cost-effective imaging solutions with lower magnetic field strength than traditional high-field MRI equipment. Low-field MRI is increasingly preferred for certain applications, such as musculoskeletal imaging and interventional procedures, due to reduced susceptibility to artifacts and improved patient comfort. The growing adoption of low-field MRI systems across various healthcare settings contributes significantly to their prominent share in the market.

High-field MRI equipment emerges as the fastest-growing superconducting magnetic resonance equipment market segment. This growth is attributed to the increasing demand for high-resolution imaging for precise diagnostics in medical applications. High-field MRI systems offer superior image quality and enhanced diagnostic capabilities, driving their adoption across healthcare facilities worldwide. Additionally, advancements in superconducting materials and technologies further contribute to the rapid expansion of the high-field MRI equipment segment.

• Low-Field MRI Equipment 
• High Field MRI Equipment 
• Very High Field MRI Equipment 
• Ultra High Field MRI Equipment

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Superconducting Magnetic Resonance Equipment Application Segment Analysis

According to Cognitive Market Research, the medical diagnosis segment holds a major share of the superconducting magnetic resonance equipment market. This dominance is driven by the widespread adoption of MRI systems for diagnostic imaging in healthcare facilities worldwide. Superconducting MRI equipment offers superior imaging quality, enabling accurate diagnosis of various medical conditions ranging from neurological disorders to musculoskeletal injuries. The demand for advanced diagnostic tools to improve patient care and outcomes further propels the growth of this segment.

The biomedical research segment is the fastest-growing market for superconducting magnetic resonance equipment. The increasing demand for high-resolution imaging tools in biomedical research applications, including neuroscience, genetics, and drug discovery, propels this growth. Superconducting magnetic resonance equipment offers unparalleled imaging capabilities, allowing researchers to study biological structures and processes with exceptional detail and precision, thereby driving the adoption of these systems within the biomedical research community.

• Medical Diagnosis 
• Biomedical Research 
• Other Applications

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Superconducting Magnetic Resonance Equipment End User Segment Analysis

According to Cognitive Market Research, the hospital segment commands a major share of the superconducting magnetic resonance equipment market. Hospitals are the primary end-users of MRI systems, utilizing them for diagnostic imaging and treatment planning across various medical specialties. With increasing demand for accurate and non-invasive diagnostic tools and advancements in healthcare technology, hospitals continue to invest in superconducting magnetic resonance equipment to meet the growing needs of patient care and clinical research.

The research institutes segment emerges as the fastest-growing sector in the superconducting magnetic resonance equipment market. This growth is attributed to heightened materials science, chemistry, and biomedical research activities. Research institutes continually seek advanced imaging solutions, driving demand for high-performance superconducting MRI systems. Additionally, collaborations between research institutions and industry players foster innovation and propel the development of cutting-edge technologies, further accelerating growth in this segment.

• Hospitals 
• Research Institutes 
• Diagnostic Centers 
• Other End-Users

Author's Detail

Anushka Gore

Research Associate at Cognitive Market Research

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Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.

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