IMV: MR volumes down, but radiology departments remain positive

MRI procedure volumes are down from a peak in 2019, but radiology departments remain positive that volume will rebound, according to IMV's 2022 MR Market Outlook Report.

The report found the following over a five-year range of MR procedure volumes:

• In 2018, there were 39 million procedures performed in 2018.
• In 2019, that procedure volume increased 7.7% to 42 million.
• In 2020, procedure volume fell 34.8% to 27.4 million in 2020.
• In 2021, the volume rebounded by 30.3% to 35.7 million in 2021.
• In 2022, volume decreased by 2.8% to 34.7 million.

Davin Korstjens, senior market research program manager at IMV Medical Information Division, part of Science and Medicine Group.

Overall MR procedure volumes for this five-year period have decreased 11% and are down 17% from the peak in 2019. The five-year compound annual growth rate (CAGR) was -2.3% a year, while the three-year CAGR was 8.2%.

Radiology department sentiment regarding MR procedure volumes has remained high, however, with 75% of sites anticipating higher volumes through 2022 compared to 2021. In addition, 47% of sites agreed that "MRI procedure volumes are increasing because some procedures are shifting from other imaging modalities to MR," and only 15% of sites disagreed.

Regarding the statement "Competition with other MR imaging providers in our area is reducing the number of MRI patients scanned at our facility," 41% of sites disagreed, while 35% of sites agreed. The remaining 23% of sites were neutral.

Taken together, this indicates that demand for MR procedures remains healthy and the competition among sites remains modest in most locations.

Regarding procedure volume mix for MRI, exams performed at hospital-owned outpatient imaging centers decreased substantially in recent years.

Notably, the percentage of procedures performed in hospitals with over 400 beds dropped three percentage points to 11% in 2022.

Additionally, the MRI mix for anatomical procedure categories has remained stable from 2019 through 2022, although there has however been a steady increase in the percentage of sites performing vascular and cardiovascular MRAs, chest, breast, prostate and cardiac (excluding MRAs) MRI procedures in recent years.

Stay tuned for IMVs 2023 MR Outlook report due out this fall to see how 2023 MR procedure volumes are shaping up.

Davin Korstjens is a senior market research program manager at IMV Medical Information Division, part of Science and Medicine Group.

IMV's 2022 MR Market Outlook Report explores market trends in U.S. hospitals and imaging centers, including procedure volume, manufacture-installed base features and share, the use of OEM vs. third-party service providers, purchase plans, brand loyalty and site operations characteristics.

The MR Market Outlook Report was published in December 2022 and is based on responses from 300 radiology/departmental administrators and clinicians who participated in IMV's nationwide survey in July-August 2022. Their responses have been projected to the IMV-identified universe of hospitals and imaging centers in the U.S. that use MR systems to perform imaging procedures, and the report provides market forecast information addressing the MR unit market in the United States for 2022-2025. Vendors covered in this report include GE, Philips, Siemens, Canon, Fujifilm, Bayer, Bracco, Guerbet and more.

For information about purchasing IMV Market Outlook Reports, visit the corporate website at imvinfo.com or call 703-778-3080 ext. 1033 to speak with a representative. In addition to the report, all purchases will include a complimentary recording of an executive summary presentation of findings conducted by IMV's Senior Program Manager.

Disclosure: IMV Medical Information Division is a sister company of AuntMinnie.com.