Egypt magnetic resonance imaging (MRI) systems market is projected to witness a CAGR of 4.79% during the forecast period 2024-2031, growing from USD 29.36 million in 2023 to USD 42.69 million in 2031.
Egypt’s MRI systems market is expanding rapidly due to rising healthcare expenditure and the country’s growing chronic illness rate, including cancer. The country’s medical facilities are adopting modern MRI technology due to the need for accurate and timely diagnosis. The growth of the healthcare infrastructure is being facilitated by both public and private sector investments, which drives the MRI market. The accuracy of diagnosis and treatment planning is being improved with the advent of state-of-the-art MRI equipment with improved imaging capabilities and AI integration. The market for MRI equipment is growing quickly in Egypt as healthcare providers look forward to improving patient outcomes and streamlining diagnostic procedures. This growth is indicative of a larger regional commitment to improving medical services. For example, in February 2023, El Mostakbal Radiology Center, situated in Beheira Governorate, Egypt, invested USD 670,000 to install a closed MRI equipment. The investment allowed El Mostakbal to meet growing market demand and improve image quality, which also increased its profitability and competitiveness.
Integration of AI and ML Drive the Market Growth
Egypt’s MRI systems market is expanding rapidly due to the incorporation of AI and machine learning. AI-driven technologies shorten acquisition times and improve picture quality, increasing MRI scans’ accuracy and efficiency. Machine learning algorithms speed up the detection and diagnosis of problems to facilitate faster, early and more precise diagnosis, which also helps while making treatment decisions. The growing adoption of these advanced technologies in Egypt is driven by increasing healthcare demands, government initiatives to modernize medical infrastructure, and a rising emphasis on precision medicine. Consequently, the MRI market is experiencing accelerated growth as hospitals and diagnostic centers invest in AI-enhanced MRI systems to stay competitive and deliver higher-quality care.
For example, the Japan International Cooperation Agency (JICA), a Japanese government’s development agency, aims to promote innovation by collaborating with local businesses to support the sustainable development goals in several countries, including Egypt. In March 2022, JICA has provided funding to Rology, an AI-assisted teleradiology platform. The platform also received US FDA’s approval. Radiology facilities can use these AI algorithms to prioritize the workload of radiologists, remotely match radiological scans to radiologists, and help radiologists cope with the notable surge in radiological scans.
Collaborative Ventures Paving the Way for Market Growth
The market for MRI systems in Egypt is growing faster due to joint ventures since they are encouraging innovation and enhancing accessibility. Advanced MRI systems that are customized to meet local demands are seen to be introduced more easily due to partnerships between multinational medical technology businesses and Egyptian healthcare organisations. Through collaborative research and development, these relationships frequently result in the development of cutting-edge imaging technologies and solutions. Collaborative efforts also improve healthcare personnel’s education and training, guaranteeing that they are proficient in using modern MRI technologies. Collaborations between the public and private sectors are also essential for advancing infrastructural development and increasing accessibility to top-rate MRI facilities throughout Egypt. By combining resources, these initiatives help overcome budgetary limits and lower the cost of sophisticated MRI systems for medical professionals. Furthermore, shared knowledge and experience from strategic alliances frequently speed up the adoption of cutting-edge MRI technologies and enhance diagnostic skills. These collaborative efforts are enhancing the growth of MRI systems market by making advanced imaging solutions more accessible, advancing medical diagnostics, and ultimately improving patient care in Egypt. For example, in January 2024, the Egypt Healthcare Authority collaborated with the Alpha Medical Group and their sub-divisions – Alpha Labs and Alpha Scan for Radiology, in the areas of training healthcare providers on the management and operation of medical laboratories and radiology, incorporating the latest technologies, devices, and international standards. This agreement has marked a significant step towards enhancing healthcare in the country and improving medical infrastructure and patient care.
Technological Aspects of Functional MRI Enhance the Market Growth
Technological developments are driving a major portion of Egypt’s MRI systems market. High-field MRI scanners, functional MRI (fMRI), and AI-driven image analysis are examples of innovations that increase the uses of MRI systems and improve their diagnostic capabilities. Furthermore, continuous improvements in software and hardware are leading to more compact and efficient MRI equipment that fits into various clinical settings. As hospitals and diagnostic centers adopt these cutting-edge technologies, the MRI market in Egypt is expanding rapidly, offering enhanced diagnostic tools and improved overall healthcare outcomes. For example, in February 2024, Nafady Radiology Center and Future Radiology Center, both private medical diagnostic imaging centers, installed advanced MRI systems in the facilities to enhance patient care.
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Neurology Segment Dominates the Magnetic Resonance Imaging Market
The market for MRI equipment in Egypt is expanding at a substantial rate due to the rise in neurological ailments. With more people experiencing neurological problems like epilepsy, stroke, multiple sclerosis, and Alzheimer’s disease, there is an increasing need for sophisticated imaging technology that can offer an in-depth understanding of the brain and central nervous system. Since they are non-invasive and provide high-resolution imaging, magnetic resonance imaging (MRI) technologies play a critical role in the precise diagnosis, planning, and monitoring of these intricate organs in the human body. Healthcare facilities are purchasing modern magnetic resonance imaging (MRI) systems due to the growing demand for accurate and timely identification of neurological illnesses. New developments in medical technology and a heightened understanding of the value of high-quality imaging in maintaining brain health further propel the market growth.
Future Market Scenario (2024-2031F)
The main factors contributing to the anticipated growth of the magnetic resonance imaging (MRI) systems market are the rising numbers of chronic ailments, increasing prevalence of diseases, and thus, the rising requirement to conduct diagnostic tests. However, the growing need for precision medicine to maintain a healthy population will fuel market growth in the future. Given that technology is advancing, cutting-edge technology in the area is expected. Players in this market are expanding at an unparalleled rate, introducing cost-effective and efficient technologies. Government policies and policies made by welfare bodies are also greatly fueling the market expansion. For instance, during the Africa Health ExCon 2024 conference held in June 2024, to create a digital transformation through investments and funding, the Egypt Health Care Authority has entered in strategic partnerships with MILLENSYS, a provider of electronic health record (EHR) and Vendor neutral archive (VNA) and Dedalus S.p.A., a global leader in health software. These collaborations are aimed to support government’s Sustainable Health Development Goals 2030 initiative.
Report Scope
“Magnetic Resonance Imaging (MRI) Systems Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of Egypt magnetic resonance imaging (MRI) systems market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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