Mexico MRI Market - Forecasts from 2024 to 2029

The Mexico MRI market was valued at US$117.159 million in 2022.

Magnetic resonance imaging (MRI) is a medical imaging technique that has a wide range of applications in the medical field. It is used in radiology to produce pictures of the anatomy and the physiological processes of the body. These pictures are used to diagnose the presence of abnormalities in the body. Magnetic Resonance Imaging (MRI) is a medical imaging technique that uses a powerful magnet, radio waves, and a computer to create detailed images of the body. Unlike X-rays, MRI relies on the natural magnetic properties of atoms, particularly hydrogen atoms. The Mexico MRI market is influenced by the diverse healthcare landscape, including public and private healthcare providers. The demand for advanced medical imaging technologies is influenced by factors such as population health needs, economic conditions, disease prevalence, government policies, technological advancements, medical tourism, and regulatory environment. The demand for MRI services is driven by the prevalence of various medical conditions, government policies, and the availability of advanced medical services. Compliance with regulations is essential for the growth and stability of the MRI market.

MARKET DRIVERS:

Growing demand for medical treatment of cancer patients

The MRI market in Mexico is expected to grow due to rising cancer incidence, advancements in cancer care, government initiatives to improve healthcare infrastructure, increasing healthcare awareness about early detection and effective cancer management, and ongoing technological advancements. MRI is a crucial diagnostic tool in oncology, aiding in the detection, diagnosis, and monitoring of cancer. Government initiatives to improve healthcare infrastructure and access to advanced medical technologies may also drive the MRI market growth in Mexico. Mexico is one of the most crowded places in the world for cancer treatments and clinics. Every year, thousands of cancer patients travel to Mexico to get medical treatment, which is expected to drive the demand for MRI, which in turn is expected to drive the overall market growth. Patients who are dealing with cancer in their advanced stages or patients with any other chronic disease find great relief in Mexico.  Medical treatments in Mexico are affordable in comparison to many other places in the world. Medical clinics in the country are mainly located in Tijuana, which is located very close to the US border, making it easy and accessible for people from San Diego, CA. The cost of medical treatment is very affordable and hence is anticipated to drive market growth. The average price of alternative clinics in Mexico is around $7,000-$10,000 per week.

Significant demand for closed MRI system replacement parts

Mexico's MRI market is expected to grow due to demand for replacement parts, cost-effective maintenance, and advanced diagnostic capabilities, extending the lifespan of existing systems. Closed MRI systems produce higher-quality 3D images because they have significantly higher magnetic power to capture high-quality images. It can scan the whole body of the patient and provide a more comprehensive diagnosis. The Closed MRI Scanner initiates more intensive scans at a lesser time, it only needs around 15 to 80 minutes per patient, which is beneficial in the case of severe injury or emergency cases. Healthcare professionals prefer closed MRI scanners because of their developed technological features and developed maintenance capabilities. There is a high demand for replacement parts of closed MRI systems due to their increased use by healthcare professionals in their clinics and hospitals. Mexico is expected to be the major contributor to the growth of the closed MRI system market as it is the first country in medical devices in Latin America and the 8th worldwide. The expanding private healthcare sector and rising healthcare expenditure are projected to drive market growth during the forecast period. Mexico is leading medical device production across Latin America, and it is also the most important trade partner with the US.

Key Developments:

• May 2022- Wiley has signed a three-year agreement with Universidad Nacional Autonoma de México (UNAM), a leading institution in Latin America, to promote open access research. The agreement allows UNAM's researchers to publish most or all of its articles in Wiley's hybrid journals. UNAM's researchers contribute significantly to knowledge development, and the university aims to expand their impact by allowing universal access to their research articles. Wiley, a global leader in research and education, publishes various journals, including the Journal of Magnetic Resonance Imaging.
• June 2022- Simon Hegele Healthcare Solutions has expanded its Mexico City warehouse to offer a cryo farm for cooling and storing magnetic resonance imaging (MRI) systems. The facility, designed to handle the high energy required for MRIs, is part of a 360-degree solution that includes warehousing, installation, transportation, and maintenance for medical devices like MRIs, ultrasounds, and RF cabins. The cryo farm provides the necessary space and utilities for safe cooling and storage, including an indoor rigging area. The warehouse currently has space for up to three MRIs, with plans to expand to 10 MRIs.

Market Segmentation

By Type

• Closed
• Open

By Application

• Screening
• Diagnosis
• Treatment Monitoring
• Research
• Others