Micro-Magnetic Resonance Imaging Industry Overview
The global micro-magnetic resonance imaging market size was valued at USD 1.5 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 4.3% from 2022 to 2030.
Micro-magnetic resonance imaging (MRI) is the imaging modality used in preclinical studies to conduct research on small animals for developing novel oncology treatments, identification of new drug candidates and chemical entities to treat cardiological, neurological, and infectious diseases. Due to its non-invasiveness, high spatial resolution, high-definition image quality, and non-ionizing radiation unlike micro-CT and micro-PET, this technique is highly adopted for the study of brain tissues and other soft tissues in small animals.
Gather more insights about the market drivers, restrains and growth of the Global Micro-Magnetic Resonance Imaging Market
Studies on small animals like rats, rabbits, and mice, enable researchers to build a bridge between molecular discoveries and clinical implementation in diagnostic and therapeutics. Micro- MRI holds numerous advantages such as minimal site requirement for equipment installation, reduced maintenance cost, accurate animal positioning and monitoring, and non-damaging radiations, which have led to its increased adoption among scientists. Additionally, factors such as a rise in brain tumor screening and diagnosis using high magnetic field MRIs and increased preclinical trials for improved oncology treatment to improve patient outcomes, are responsible for influencing the market growth.
Prostate cancer diagnosis and screening, early detection of liver fibrosis, and novel screening techniques for neurodegenerative conditions are currently being studied in preclinical settings using micro-MRI. Companies such as Bruker, Siemens Healthineer, Mediso, MR Solutions, Aspect Imaging, United Imaging, and Times Medical Systems, are among the major players in the market for micro-magnetic resonance imaging. Integrated PET/Micro- MRI systems developed by companies such as Cubresa Inc. are proving highly efficient to track compound distribution and generate 3D images of biomedical processes in living animals.
Despite, the emergence of this novel screening technique, the outbreak of COVID-19, has led to a decline in the market for micro-magnetic resonance imaging due to a halt in research activities, dramatic decline in the economy, national lockdowns, shutting of logistic services, and limited research scientists at research laboratories due to the fear of virus spread. Manufacturers witnessed the closure of production facilities or operations with reduced capacity, leading to the postponement of sales activities, in turn declining the revenue generated. However, the market for micro-magnetic resonance imaging is said to bounce back by mid-2022.
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- Preclinical Imaging Market - The global preclinical imaging market size was valued at USD 3.25 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 3.8% from 2022 to 2030. The growing number of investments and funding in research and development coupled with the constant pace of technological advancements leading to the development of hybrid imaging systems is primarily driving the growth of the market.
- Magnetic Resonance Imaging Market - The global magnetic resonance imaging market size was valued at USD 4.8 billion in 2021 and is expected to expand at a CAGR of 7.1% from 2022 to 2030. Magnetic Resonance Imaging (MRI) is an efficient diagnostic machine for identifying diseases related to spine lesions, tumors, and strokes impacting the area of blood vessels and the brain. The increasing prevalence of diseases is driving the market growth.
Micro-Magnetic Resonance Imaging Market Segmentation
Grand View Research has segmented the global micro-magnetic resonance imaging market based on type, end-use, and region:
Micro-MRI Type Outlook (Revenue, USD Million, 2018 - 2030)
- Superconductive Magnet
- Permanent Magnet
Micro-MRI End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Universities and Academic
- Biotechnology and Pharmaceutical Companies
- Preclinical Imaging and Testing Facilities
- Contract Research Organizations
- Others
Micro-MRI Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- January 2022: At Arizona State University in Tempe, Arizona, MR Solutions installed a 9.4T MRI system with variable fields at 7T and 3T.
- August 2021: Bruker and the Karlsruhe Institute of Technology (KIT) in Germany completed the installation of the BioSpec 152/11, a 15.2 Tesla ultra-high field magnetic resonance (MR) imaging system.
Key Companies profiled:
Some prominent players in the global micro-magnetic resonance imaging market include
- Bruker
- Siemens Healthineer
- Phillips
- Varian
- Mediso
- MR Solutions
- Aspect Imaging
- Agilent
- Cubresa
- United Imaging
- Time Medical System
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