Magnetic Resonance Elastography (MRE) Market to Register Substantial Expansion by 2025

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Magnetic resonance elastography (MRE) is a non-invasive medical imaging technique employed by health care professionals and radiologists for in-vivo quantitative assessment of biomechanical properties of the tissues and soft structures in the body. The magnetic resonance elastography (MRE) procedure is based on the magnetic resonance imaging (MRI) technology and is performed by generating shear waves in the tissue under observation, receiving the images, and analyzing the images to develop and assess tissue stiffness. The elasticity imaging technique has various approaches including excitation application, measurement of tissue response to the stress applied, and estimation of mechanical parameters. Magnetic resonance elastography (MRE) has shown promising results over elastography done using Doppler ultrasound, computed tomography, or any other modality.

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Increasing incidence of chronic diseases affecting various muscles of the body including lung cancer, cardiovascular diseases such as atherosclerosis and myocardial infraction, breast cancer, and other conditions affecting the skeletal muscles; increasing research & development by research institutes and market players for diversifying the use of magnetic resonance elastography (MRE) technique; and rising awareness about the diagnosis and screening, especially in developing countries, are some of the major factors driving the global magnetic resonance elastography (MRE) market. Increasing per capita health care expenditure in developing countries, expanding usage areas of magnetic resonance elastography owing to rising number of research activities, and improving health care infrastructure in developing countries such as China, India, and Brazil are expected to increase the demand for new and advanced imaging technologies for use in the diagnosis of conditions affecting the soft tissues and the muscles in the next few years. This is expected to drive the global magnetic resonance elastography (MRE) market during the forecast period. However, higher cost of the procedure compared to other imaging techniques and lack of uniformity in reimbursement policies pertaining to diagnostic imaging procedures across the globe are some of the factors expected to restrain the global magnetic resonance elastography (MRE) market during the forecast period.

The global magnetic resonance elastography (MRE) market has been segmented based on application, end-user, and region. Based on application, the market has been divided into hepatic magnetic resonance elastography, breast magnetic resonance elastography, brain magnetic resonance elastography, skeletal muscle magnetic resonance elastography, and others. Among applications, the breast magnetic resonance elastography segment dominated the global market in 2016, owing to increasing prevalence of breast cancer, especially in developing countries, and rising preference by radiologists for the MRE technique over other imaging techniques. The skeletal muscle magnetic resonance elastography segment is expected to register a higher CAGR during the forecast period, as increasing number of health care settings are preferring the MRE technique in the diagnosis of skeletal muscle disorders. Based on end-user, the global magnetic resonance elastography (MRE) market has been divided into hospitals, diagnostic imaging centers, research institutes, and others. The diagnostic imaging centers segment is expected to dominate the global market from 2017 to 2025, owing to increasing number of patients worldwide undergoing diagnostic imaging led by increasing incidence of cancer and neurological disorders, adoption of new and advanced equipment and technologies by diagnostic imaging centers, and rising preference for preventive care in developed countries.

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Based on region, the global magnetic resonance elastography (MRE) market has been classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2016 and is expected to continue its dominance during the forecast period, owing to high prevalence of breast cancer in the region, high per capita health care expenditure in the U.S., and adequate reimbursement policies in the region. Asia Pacific is expected to witness a large pool of patients undergoing diagnostic imaging procedures in the near future. This is expected to increase the demand for the magnetic resonance elastography technique in the region from 2017 to 2025.

Key players operating in the global magnetic resonance elastography (MRE) market are Resoundant, Inc., Siemens Healthcare Private Limited, and Koninklijke Philips N.V.