Adroit Market Research - Industry Insights
Global Magnetic Resonance Angiography Market, by Technique (Contrast Enhanced MRA, Non-contrast Enhanced MRA), Application (Abdomen, Lower Extremities, and Others) Region (North America, Europe, Asia Pacific, Middle East and Africa, Latin America), Global Forecast, 2018 to 2028
Oct 2020
Total Pages: 160
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The global magnetic resonance angiography market was valued at USD 5.34 billion in 2019 and is expected to grow at a CAGR of 5.1% over the forecast period. Improving insurance benefits, favorable regulatory legislation, and an improvement in the use of magnetic resonance angiography (MRA) procedures can be credited to demand expansion. In the coming years, it is expected that the rising geriatric population and artificial intelligence-based imaging technologies will drive market development. It is likely that an increase in FDA approvals would propel the market for MRI systems.
.png "Global Magnetic Resonance Angiography Market, 2018-2028 by Region (USD billion)")
MRA is a diagnostic technique that is helpful for detecting diseases/disorders that primarily involve blood vessels and soft tissues, such as tumours and lesions. Demand for diagnostic imaging techniques, especially in soft tissue imaging, is expected to experience steady growth over the coming years. Furthermore, with the rise in the geriatric population and the prevalence of chronic diseases, substantial growth is anticipated in the market for MRA procedures.
Key players serving the global market include Ecolab, Inc., Angiodynamics, Inc., Serres, Hologic, Inc., Traubco LLC, Smith & Nephew plc, Stryker Corporation, CONMED Corporation, Medtronic plc, among other prominent players.
Key segments of the global Magnetic Resonance Angiography market
Technique Overview, 2018-2028 (USD Billion)
- Contrast Enhanced MRA
- Non-contrast enhanced MRA
Application Overview, 2018-2028 (USD Billion)
- Abdomen
- Lower Extremities
- Others
Regional Overview, 2018-2028 (USD Billion)
- North America
- U.S.
- Canada
- Europe
- Germany
- United Kingdom
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global magnetic resonance angiography industry
- The overall segmentation of magnetic resonance angiography market, especially key segments are thoroughly studied.
- Presence of major players and their wide Industry portfolio across developed countries is anticipated to further boost the growth of magnetic resonance angiography market
What does the report include?
- The study on the global magnetic resonance angiography market includes analysis of qualitative market indicators such as drivers, restraints, challenges and opportunities
- Additionally, the market competition has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of technique and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the considered segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global magnetic resonance angiography market is suitable for all the players across the value chain including raw material suppliers, magnetic resonance angiography providers, medical device manufacturers, distributors, suppliers and retailers
- Venture capitalists and investors looking for more information on the future outlook of the global magnetic resonance angiography market
Consultants, analysts, researchers, and academicians looking for insights shaping the global magnetic resonance angiography market
MRA uses heavy magnetic field along with radio waves. The results are then displayed on desktop for evaluation. This test does not use radiation and will require a comparison substance injection. The contrast material used during MRA is less probable than the contrast media used mostly for computed tomography (CT) to trigger an allergic reaction.
To detect and cure blood vessel-related disorders, physicians use angiography. Angiography tests produce photographs in the body of major blood vessels. The comparison content may or may not be used for an MRA exam.
Physicians use MRA technique to identify irregularities such as aneurysms in abdomen, aorta chest and other arteries. The technique is used to detect atherosclerotic carotid artery of the neck, and observe blockages limiting blood flow to the brain resulting in stroke. Detection of aneurysm/ arteriovenous malformation.
However, there are some limitations to the technique. MRA images cannot be as simple as catheter angiography images of certain arteries. In specific, MRA assessment of tiny vessels can be challenging. Separate pictures of veins and arteries with MRA can often be hard to make. Furthermore, MRA does not provide high definition images as catheter angiography pictures.
The global magnetic resonance angiography market has been bifurcated based on technique, application and region. In terms of technique, the market is divided into Contrast Enhanced MRA and Non-contrast Enhanced MRA. On the basis of application, the segment is divided into abdomen, lower extremities, and others.
Non-contrast enhanced magnetic resonance angiography dominated the global market in 2019 and is expected to maintain its market dominance over the study period owing to the use of contrast dyes, leading to an increase in demand for diagnostic procedures. For patients who are either pregnant or who suffer from kidney diseases, non-contrast improved MRAs are prescribed. In comparison, it is recommended to undergo non-contrast enhanced MRA in some elderly patients, which is the preferable option where no contrast agent is inserted into the bloodstream.
The other category led the industry in 2019 and retained a share of over 75 percent of total sales. Over the projected era, the abdominal magnetic resonance angiography section is likely to develop at the quickest CAGR. Around 9 percent of Emergency Room (ED) visits are due to intense abdominal pain, according to the NCBI.
.png "Global Magnetic Resonance Angiography Market, 2018-2028 by Contrast Enhanced MRA (USD Billion)")
Based on regions, the global magnetic resonance angiography market is segmented into North America, Europe, Asia Pacific, Central and South America and Middle East & Africa. Emerging markets such as APAC are giving companies major growth prospects in the demand for the Industry’s in coming years.
In 2019, North America dominated the global market and is expected to grow at a CAGR of more than 4%over the forecast period. High penetration rate coupled with early adoption of technology in the U.S. is the major reason for the market dominance. Furthermore, Asia Pacific is expected to emerge as the most lucrative segment over the forecast period. Continuous healthcare infrastructure development in South East Asian countries owing to increasing medical tourism is likely to favor the market growth over the forecast period.
The global magnetic resonance angiography market was valued at USD 5.34 billion in 2019 and is expected to grow at a CAGR of 5.1% over the forecast period. Improving insurance benefits, favorable regulatory legislation, and an improvement in the use of magnetic resonance angiography (MRA) procedures can be credited to demand expansion. In the coming years, it is expected that the rising geriatric population and artificial intelligence-based imaging technologies will drive market development. It is likely that an increase in FDA approvals would propel the market for MRI systems.
MRA is a diagnostic technique that is helpful for detecting diseases/disorders that primarily involve blood vessels and soft tissues, such as tumours and lesions. Demand for diagnostic imaging techniques, especially in soft tissue imaging, is expected to experience steady growth over the coming years. Furthermore, with the rise in the geriatric population and the prevalence of chronic diseases, substantial growth is anticipated in the market for MRA procedures.
Key players serving the global market include Ecolab, Inc., Angiodynamics, Inc., Serres, Hologic, Inc., Traubco LLC, Smith & Nephew plc, Stryker Corporation, CONMED Corporation, Medtronic plc, among other prominent players.
Key segments of the global Magnetic Resonance Angiography market
Technique Overview, 2018-2028 (USD Billion)
- Contrast Enhanced MRA
- Non-contrast enhanced MRA
Application Overview, 2018-2028 (USD Billion)
- Abdomen
- Lower Extremities
- Others
Regional Overview, 2018-2028 (USD Billion)
- North America
- U.S.
- Canada
- Europe
- Germany
- United Kingdom
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global magnetic resonance angiography industry
- The overall segmentation of magnetic resonance angiography market, especially key segments are thoroughly studied.
- Presence of major players and their wide Industry portfolio across developed countries is anticipated to further boost the growth of magnetic resonance angiography market
What does the report include?
- The study on the global magnetic resonance angiography market includes analysis of qualitative market indicators such as drivers, restraints, challenges and opportunities
- Additionally, the market competition has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of technique and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the considered segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global magnetic resonance angiography market is suitable for all the players across the value chain including raw material suppliers, magnetic resonance angiography providers, medical device manufacturers, distributors, suppliers and retailers
- Venture capitalists and investors looking for more information on the future outlook of the global magnetic resonance angiography market
Consultants, analysts, researchers, and academicians looking for insights shaping the global magnetic resonance angiography market
Chapter 1. Introduction
1.1. Introduction to the Study
1.2. Market Definition and Scope
1.3. Units, Currency, Conversions and Years Considered
1.4. Key Stakeholders
1.5. Key Questions Answered
Chapter 2. Research Methodology
2.1. Introduction
2.2. Data Capture Sources
2.3. Primary Sources
2.4. Secondary Sources
2.5. Market Size Estimation
2.6. Market Forecast
2.7. Data Triangulation
2.8. Assumptions and Limitations
Chapter 3. Market Outlook
3.1. Introduction
3.2. Macroeconomic Indicators
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Restraints
3.3.3. Opportunities
3.3.4. Challenges
3.4. Porter’s Five Forces Analysis
3.5. COVID-19 Impact Analysis
Chapter 4. Global Magnetic Resonance Angiography Market by Technique, 2018-2028 (USD Billion)
4.1. Contrast Enhanced MRA
4.2. Non-contrast enhanced MRA
Chapter 5. Global Magnetic Resonance Angiography Market by Application, 2018-2028 (USD Million)
5.1. Abdomen
5.2. Lower Extremities
5.3. Others
Chapter 6. Global Magnetic Resonance Angiography Market by Region, 2018-2028 (USD Billion)
6.1. North America
6.1.1. U.S.
6.1.2. Canada
6.2. Europe
6.2.1. Germany
6.2.2. UK
6.2.3. France
6.2.4. Spain
6.2.5. Rest of Europe
6.3. Asia Pacific
6.3.1. Japan
6.3.2. China
6.3.3. India
6.3.4. Rest of Asia Pacific
6.4. Central and South America
6.5. Middle East and Africa
Chapter 7. Company Profiles
7.1. GE Healthcare
7.1.1. Overview
7.1.2. Product and Services Portfolio
7.1.3. Recent Initiatives
7.1.4. Company Financials
7.2. Koninklijke Philips N.V.
7.2.1. Overview
7.2.2. Product and Services Portfolio
7.2.3. Recent Initiatives
7.2.4. Company Financials
7.3. Siemens Healthcare GmbH
7.3.1. Overview
7.3.2. Product and Services Portfolio
7.3.3. Recent Initiatives
7.3.4. Company Financials
7.4. Hitachi, Ltd.
7.4.1. Overview
7.4.2. Product and Services Portfolio
7.4.3. Recent Initiatives
7.4.4. Company Financials
7.5. Canon, Inc.
7.5.1. Overview
7.5.2. Product and Services Portfolio
7.5.3. Recent Initiatives
7.5.4. Company Financials
7.6. Shenzhen Anke Hi-Tech Co., Ltd.
7.6.1. Overview
7.6.2. Product and Services Portfolio
7.6.3. Recent Initiatives
7.6.4. Company Financials
7.7. ASG Superconductors spa
7.7.1. Overview
7.7.2. Product and Services Portfolio
7.7.3. Recent Initiatives
7.7.4. Company Financials
7.8. Neusoft Corporation
7.8.1. Overview
7.8.2. Product and Services Portfolio
7.8.3. Recent Initiatives
7.8.4. Company Financials
7.9. Shimadzu Corporation
7.9.1. Overview
7.9.2. Product and Services Portfolio
7.9.3. Recent Initiatives
7.9.4. Company Financials
7.10. ESAOTE SPA
7.10.1. Overview
7.10.2. Product and Services Portfolio
7.10.3. Recent Initiatives
7.10.4. Company Financials
Chapter 8. Appendix
8.1. Primary Research Approach
8.1.1. Primary Interview Participants
8.1.2. Primary Interview Summary
8.2. Questionnaire
8.3. Related Reports
8.3.1. Published
8.3.2. Upcoming