The volume of Magnetic Resonance Imaging (MRI) exams in Canada stood at 2.5209 million in 2023. Historically, the MRI exam volumes have shown fluctuating growth rates, with notable year-on-year variations. For instance, while 2013 saw a significant 4.92% increase year-on-year, 2020 experienced a minimal decline of 0.12%. Recent years have demonstrated modest growth with a 2.57% year-on-year increase in 2023. The Compound Annual Growth Rate (CAGR) over the last five years stood at 3.79%. Looking forward, from 2024 to 2028, the forecasted CAGR is expected to slow down to 1.94%, translating to an overall increase of approximately 10.06% over the five-year period.
Future trends to watch for include advancements in MRI technology that could drive efficiency and reduce costs, potentially increasing the volume of exams. Additionally, demographic shifts such as an aging population could also contribute to higher demand for MRI scans, while policy changes in healthcare funding and insurance could impact access to these exams.
