U.S. Magnetic Resonance Angiography Market Growth & Trends

The U.S. magnetic resonance angiography market size is expected to reach USD 2.93 billion by 2027, based on a new report by Grand View Research, Inc., expanding at a CAGR of 4.9% from 2020 to 2027. Rising adoption of artificial intelligence (AI) based imaging techniques is expected to contribute to market growth over the forecast period. AI can assist in the detection of abnormal growths, such as tumors. Automatic detection improves the overall patient experience due to faster reporting.

In U.S., around four in ten adults suffer from at least one chronic disease, accounting for around 45% of the total population. Moreover, growing elderly population has given rise to a higher incidence rate of chronic diseases needing better diagnosis, which is anticipated to drive the demand for diagnostic imaging procedures, including magnetic resonance angiography (MRA), in the country. The presence of extensive private and public funding initiatives in U.S. is likely to contribute to market growth. Medicare covers MRI scans ordered by healthcare providers as part of a medical diagnosis.

Some of the patients experience anxiety due to claustrophobia and avoid MRI machines due to fear. Key players such as Philips, Siemens, and Hitachi have launched open bore designs for patients suffering from fear of enclosed spaces. In addition, these companies are offering devices with an audiovisual experience inside the machine to help patients relax while undergoing the procedures. MRI machines use no radiations while diagnosis, unlike CT machines. Hence, demand for MRI and MRA procedures is expected to grow over the coming years.

U.S. Magnetic Resonance Angiography Market Report Highlights

  • By technique, the non-contrast enhanced magnetic resonance angiography segment dominated the market in 2019 in terms of revenue as it is considered to be a safer alternative for patients who are pregnant or are suffering from kidney disorders
  • The contrast enhanced MRA segment is expected to register the fastest CAGR over the forecast period as theyoffer a detailed image of the blood vessels as compared to the tissues or organs surrounding them
  • The abdominal MRAs segment is expected to register a maximum CAGR from 2020 to 2027. Abdominal MRAs assist in the assessment and diagnosis of various vascular abnormalities and are performed for the examination of the lymph nodes, blood vessels, blood flow, and to investigate the cause of swelling or pain
  • By end use, the hospitals segment dominated the market in 2019 in terms of revenue on account of increased demand for affordable diagnostic services. The imaging centers segment is expected to register the fastest CAGR from 2020 to 2027.