As per the report titled ‘Global Portable MRI Market Size study, by Type (Superconducting-magnet-based portable MRI, Electromagnet-based portable MRI, Permanent-magnet-based portable MRI) by Imaging (General Brain Imaging, Headaches, Stroke, Non-Specific Muscular Weakness, Encephalopathy) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global portable MRI market is anticipated to register a y-o-y growth rate of 6.8% CAGR throughout 2021-2027.
 

Growing importance of disease detection along with rising prevalence of chronic diseases serves as a major growth propeller for global portable MRI market. Moreover, Cancer Research UK claims that the number of new cancer cases is expected to increase to 27.5 million worldwide each year by 2040, indicating a strong demand for MRI throughout the forecast timeframe.
 

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For the uninitiated, portable MRI is a medical imaging technique used in radiology to generate pictures of the anatomy and the physiological processes of the body.
 

Increasing establishment of public and private diagnostic centers and technological advancements are also adding impetus to the industry growth. However, high product costs may negatively impact market progression during the forecast timeframe.
 

From a geographical perspective, North America (U.S., Canada), Asia Pacific (India, China, Japan, Australia, South Korea,), Europe (U.K., Spain, France, Italy, Germany), and Latin America (Mexico, Brazil) are the major geographies highlighted in the research document.
 

North America currently captures the majority of the industry and will likely maintain a strong growth curve through 2027, creditable to presence of well-established healthcare infrastructure in the region. Meanwhile, Asia Pacific market is predicted to progress at a robust rate owing to factors such as rising per capita income, increasing cases of injuries, and improving healthcare facilities.
 

Speaking of the competitive landscape, major players influencing global portable MRI industry trends are Hitachi Ltd., Koninklijke Philips N.V., PrizMed Imaging, Voxelgrids, Hyperfine, Canon Medical Systems Corp, Philips Healthcare, and Siemens Healthineers AG.