Japan Magnetic Resonance Imaging (MRI) Market Insights Forecasts to 2032

• The Japan Magnetic Resonance Imaging (MRI) Market Size was valued at USD 580 Million in 2022.
• The Market is Growing at a CAGR of 5.8% from 2022 to 2032.
• The Japan Magnetic Resonance Imaging (MRI) Market Size is expected to reach USD 1026 Million by 2032.

The Japan Magnetic Resonance Imaging (MRI) Market Size was valued at USD 580 Million in 2022 and is expected to Grow to USD 1026 Million by 2032, at a CAGR of 5.8% during the forecast period (2022-2032).

Market Overview

Magnetic Resonance Imaging Systems utilize a non-invasive imaging method to explore the structure and function of the body in both health and disease settings, without the use of harmful ionizing radiation. It may be used to identify, diagnose, and monitor the therapy of a variety of chronic conditions. It is based on a technique that stimulates and detects changes in protons in the tissue fluid. It can tell the difference between white and grey matter in the brain. When frequent imaging is necessary for diagnosis or therapy, especially in the brain, it is the sole imaging modality in demand since it does not utilize X-rays. There are two types of MRI Systems available: closed MRI and open MRI. Closed MRI Systems consist of a huge magnet and a radio wave that sends and receives signals from the body. The open MRI systems use magnetic bottom and top, and all four sides are open, reducing the risk of panic attacks and claustrophobia.

Report Coverage

This research report categorizes the market of Japan magnetic resonance imaging (MRI) market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan magnetic resonance imaging (MRI) market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Japan magnetic resonance imaging (MRI) market.

Driving Factors

The rising burden of chronic illnesses, the rising need for diagnostic imaging for the same, and the presence of important firms in the nation are some of the primary factors driving market expansion. Furthermore, Japan is a research-intensive country, and magnetic resonance imaging research investigations are expected to enhance the technology and raise awareness. According to a September 2021 study titled Comparison of Diagnostic Accuracy for TNM Stage Among Whole-Body MRI and Coregistered PET/MRI Using 1.5-T and 3-T MRI Systems and Integrated PET/CT for Lung Cancer with Large Cells, whole-body MRI and coregistered PET/MRI using 3-T and 1.5-T systems are as accurate or more accurate than PET/CT, while differences between 3-T and 1.5-T MRI systems are not considered significant.

COVID 19 Impacts 

The COVID-19 pandemic has disrupted long-established habits in an extraordinarily short amount of time. Climate change and other infectious illnesses are expected to exacerbate existing crises and create new social concerns in the future. It has had a considerable influence on stroke care, particularly the prehospital care system and in-hospital workflow. Before the COVID-19 epidemic, brain MRI was mostly utilized to assess the need for reperfusion treatment by institutional policy. After the State of Emergency was lifted during the With-COVID-19 period, the number of patients getting MRIs rose, particularly in individuals who had only undergone intravenous thrombolysis. As a result, the usage of MRI imaging has expanded dramatically, boosting the growth of the MRI market in Japan.

Market Segment

• In 2022, the closed MRI systems segment is influencing the largest market share over the forecast period.

Based on the architecture, the Japan magnetic resonance imaging (MRI) market is segmented into closed MRI systems and open MRI systems. Among these segments, closed MRI systems dominate the largest market share during the forecast period. To generate detailed pictures, the closed MRI system employs intense magnetic fields and high-frequency radio waves. A closed structure allows for comprehensive slice selection and error-free analysis. Because of the tremendous noise, patients in the closed MRI may feel claustrophobic and uncomfortable. These issues might lead to erroneous findings.

• In 2022, the mid-field strength segment is dominating the largest market share during the forecast period.

Based on the field strength, the Japan magnetic resonance imaging (MRI) market is segmented into low-field strength, mid-field strength, & high field strength. Among these segments, midfield strength dominates the largest market share during the forecast period. These field-strength MRI scanners capture pictures with greater accuracy and are reasonably priced.

• In 2022, the oncology segment is leading the largest market share during the forecast period.

 Based on the field strength, the Japan magnetic resonance imaging (MRI) market is segmented into oncology, neurology, cardiology, gastroenterology, musculoskeletal, and other applications. Among these segments, the oncology segment dominates the largest market share during the forecast period. Japan is one of the most technologically sophisticated nations in the Asia-Pacific region, with a solid healthcare system and a significant cancer burden, which is driving the expansion of the researched section of oncology in the country. According to the Globocan 2020 study, Japan recorded 1,028,658 new cancer cases in 2020, with a total of 2,710,728 five-year prevalent cancer cases. The most common types of cancer diagnosed in both sexes in the country were colorectum, lung, stomach, prostate, and breast cancer. According to the same source, cancer cases in Japan are expected to reach 1,110,549 by 2030, and 1,128,057 by 2040, increasing demand for MRI equipment and driving the expansion of the oncology industry.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan magnetic resonance imaging (MRI) market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Siemens AG
• Canon Medical Systems
• GE Healthcare
• Fujifilm Holidngs Corporation
• Koninklijke Philips N.V.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In December 2021, Canon Medical Systems Corp, l, situated in Japan, has inked a licensing agreement with Resoundant Inc. to incorporate its technology into Canon's newest line of magnetic resonance imaging. Although research is being conducted to use Resoundant's MRE technology to scan additional soft organs including brains.

• In November 2021, Canon Medical has introduced the Vantage Fortian, a new 1.5T open-bore MRI machine with high productivity. The new system incorporates innovative workflow solutions, picture enhancement, and accelerated scan technologies, all of which can assist to shorten MRI process times.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Japan Magnetic Resonance Imaging (MRI) Market based on the below-mentioned segments:

Japan Magnetic Resonance Imaging (MRI) Market, By Architecture

• Closed MRI Systems
• Open MRI Systems

Japan Magnetic Resonance Imaging (MRI) Market, By Field Strength

• Low Field MRI Systems
• High Field MRI Systems
• Very High Field MRI Systems 
• Ultra-high MRI Systems

Japan Magnetic Resonance Imaging (MRI) Market, By Application

• Oncology
• Neurology
• Cardiology
• Gastroenterology
• Musculoskeletal
• Other Applications