The Global Magnetic Resonance Imaging (MRI) Systems Market, which was valued at US$ 7,165.6 Mn in 2017, is projected to reach US$ 11,725.9 Mn by the end of 2025, exhibiting a CAGR of 6.4%. MRI (Magnetic Resonance Imaging) holds the prominent share in diagnostic imaging due to advance spatial resolution and efficient image acquisition with superior imaging qualities. The demand for MRI systems with 1.5 T in global MRI systems market is considerably high due to better value for money ratio in developed as well as emerging nations.
Moreover, rapidly increasing healthcare expenditure coupled with swiftly developing infrastructure in developed nations resulted in increased installation of new MRI systems. Technological advancements as well as extensive research being conducted in neuroscience fueled the adoption of MRI systems with more than 1.5 T in developed nations. Additionally, rising emphasis on optimization in diagnostic imaging resulted into design and development of specialized MRI systems such as breast MRI, neonatal MRI, extremity MRI, and others.
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Increasing technological developments, such as inclusion of PET or CT, provide imaging options to reduce exposure to harmful radiation, increasing use of MRI in developing countries, and availability of increased universal health coverage in developed and developing countries are key factors promoting the growth of the global magnetic resonance imaging market Global players like GE, Siemens or Philips are committed to improving technology and global distribution networks that support the growing number of public and private diagnostics centers worldwide.
However, due to the cost-effectiveness and easy availability, the use of refurbished RIM equipment is also much favored in development markets. There are major technological developments on the current market. In addition to the conventional 1.5T-3 T, the limit of the greatest field strength in MRI has expanded to an astounding 7T. This technological leap has increased MRI devices ' application profile and is forecast to expand further in the forecast period.
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An increase in adoption of MRI systems in hospitals, clinics and diagnostic centers with the highest market share is expected and one of the lucrative investment targets is identified. The market is however divided into open MRIs and closed MRIs based on architecture. In the last few years, the MRI system market has seen large-scale adoption. In the coming years, developments such as application reduction, high image quality and lower-cost scans will prove good growth. This advancement, however, currently has a small value market size.
Scope of the Report:
The research report categorizes the MRI system market into the following segments and subsegments:
MRI System Market, by Field Strength
High-field MRI systems (1.5T to 3T)
1.5T MRI systems
3T MRI systems
Low-to-mid-field MRI systems (<1.5T)
Very-high-field MRI systems (4T and above)
MRI System Market, by Architecture
Closed MRI systems
Standard bore MRI
Wide bore MRI
Open MRI systems
MRI System Market, By Geography
North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, Rest of Latin America)
· Middle East & Africa (GCC, South Africa, Rest of Middle East & Africa)
KEY COMPANIES COVERED IN THE REPORT
GE Healthcare
Siemens Healthcare
Koninklijke Philips N.V.
Canon Inc.
Hitachi, Ltd.
Esaote SpA
Shenzhen Anke High-tech Co., Ltd.
Time Medical Holding
SHENZHEN BASDA MEDICAL APPARATUS CO., LTD.
Fonar Corporation
Other prominent players
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The Global Magnetic Resonance Imaging (MRI) Systems Market, which was valued at US$ 7,165.6 Mn in 2017, is projected to reach US$ 11,725.9 Mn by the end of 2025, exhibiting a CAGR of 6.4%.
MRI (Magnetic Resonance Imaging) holds the prominent share in diagnostic imaging due to advance spatial resolution and efficient image acquisition with superior imaging qualities.
The demand for MRI systems with 1.5 T in global MRI systems market is considerably high due to better value for money ratio in developed as well as emerging nations.Moreover, rapidly increasing healthcare expenditure coupled with swiftly developing infrastructure in developed nations resulted in increased installation of new MRI systems.
Technological advancements as well as extensive research being conducted in neuroscience fueled the adoption of MRI systems with more than 1.5 T in developed nations.
Additionally, rising emphasis on optimization in diagnostic imaging resulted into design and development of specialized MRI systems such as breast MRI, neonatal MRI, extremity MRI, and others.Enquriy More About This Report: http://marketgrowthanalysis.com/reports/sample/295Increasing technological developments, such as inclusion of PET or CT, provide imaging options to reduce exposure to harmful radiation, increasing use of MRI in developing countries, and availability of increased universal health coverage in developed and developing countries are key factors promoting the growth of the global magnetic resonance imaging market Global players like GE, Siemens or Philips are committed to improving technology and global distribution networks that support the growing number of public and private diagnostics centers worldwide.However, due to the cost-effectiveness and easy availability, the use of refurbished RIM equipment is also much favored in development markets.
In addition to the conventional 1.5T-3 T, the limit of the greatest field strength in MRI has expanded to an astounding 7T.
According to the latest report by IMARC Group, The global magnetic resonance imaging systems market exhibited moderate growth during 2015-2020.
Looking forward, the global magnetic resonance imaging (MRI) systems market is expected to grow at a CAGR of around 5% during 2021-2026.Magnetic Resonance Imaging (MRI) systems refer to a non-invasive imaging technology used for producing three-dimensional (3D) images of the anatomy and physiological functioning of the body.
An MRI machine uses a strong magnetic field and radio waves to generate detailed images and facilitate the detection, diagnosis, and treatment of a disease.
It is usually combined with computed tomography (CT) and positron emission tomography (PET) scans for investigating various abnormalities, such as infections, tumors and cysts in the brain, bones, heart, and other internal organs.Market Trends:The increasing prevalence of chronic diseases, especially among the geriatric population, and the rising awareness regarding the benefits of early diagnosis are some of the major factors driving the global MRI systems market growth.
Rapid technological advancements, such as the development of four-dimensional (4D) imaging techniques and high-field MRI systems that are compatible with cardiac pacemakers, are alsosupporting the market growth.
The sudden outbreak of coronavirus disease (COVID-19) is further creating a positive outlook for the market as MRI is extensively used for evaluating the effects of the virus.Request for a free sample copy of this report: https://www.imarcgroup.com/magnetic-resonance-imaging-systems-market/requestsampleWe are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries.
The research report highlights market research and industry analysis driven by in-depth business relevant news.The MRI (Magnetic Resonance Imaging) Systems Market report offers a comprehensive evaluation of the market.
It does so via in-depth qualitative insights, historical data, and verifiable projections about market size.
The projections featured in the report have been derived using proven research methodologies and assumptions.
By doing so, the research report serves as a repository of analysis and information for every facet of the market.The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate deals, among others.
The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry.To know more about the report @ https://www.emergenresearch.com/industry-report/mri-systems-marketLeading Players Profiled in the Report:Siemens Healthineers, GE Healthcare, Bruker Corporation, Canon Medical Systems, Koninklijke Philips NV, Aurora Imaging Technology Inc., Neusoft Medical Systems Co. Ltd., Fujifilm, Fonar Corporation, and Aspect Imaging, among others.The research study presents an industry-wide summary of the MRI (Magnetic Resonance Imaging) Systems market including drivers, constraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc.
The global MRI (Magnetic Resonance Imaging) Systems research report is an investigative study of the market that offers key statistical data with regards to market size, market share, revenue growth, and CAGR over the forecast period 2021-2028.Request a customization of the report @ https://www.emergenresearch.com/request-for-customization/400Emergen Research has segmented the global MRI Systems Market on the basis of field strength, architecture, application, end-users, and region:Field Strength Outlook (Revenue, USD Billion; 2017-2027)Very High Field MRI SystemsHigh Field MRI SystemsLow-To-Mid Field MRI SystemsArchitecture Outlook (Revenue, USD Billion; 2017-2027)Open MRI SystemsClosed MRI SystemsApplication Outlook (Revenue, USD Billion; 2017-2027)Brain & NeurologicalSpine & MusculoskeletalVascularAbdominalCardiacBreastOthersEnd-Users Outlook (Revenue, USD Billion; 2017-2027)Hospitals & ClinicsDiagnostics CentersAmbulatory Care CentersOthersThe report analyzes the market based on different categories such as product types, end-user applications, and leading geographical regions.
Magnetic Resonance Imaging (MRI) Systems Market Information: By Type (Open MRI and Close MRI), Field Strength (High-Field MRI Systems), Disease Application (Brain and Neurological MRI), and by End-Users (Hospitals & Clinics) - Forecast Till 2027Market OverviewThe global Magnetic Resonance Imaging (MRI) Systems market 2020 is poised to record USD 5 Billion by 2023 at a 3.5% CAGR over the forecast period.
Market HighlightsThis market is motivated primarily by the growing need for non-invasive procedures, the adverse effects of radiation-based imaging, the growth in research and development activities in the life sciences field, and the the use of magnetic resonance imaging ( MRI) systems in drug discovery and preclinical testing processes.Market expansion, however, is limited by factors such as stringent regulatory approval processes, high instrument prices, a lack of competent operators, and inadequate reimbursement policies for magnetic resonance imaging ( MRI) systems.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/6194 Segmental AnalysisBased on type, field power, disease application and end-user, the global market for magnetic resonance imaging ( MRI) systems is segmented.The market is segmented into open MRI, closed MRI, wide-bore MRI, standard bore MRI, comprise the type segment.The market is segmented into high-field MRI systems, 1.5 t MRI systems, 3 t MRI systems, low-to-mid-field MRI systems, very high-field MRI systems and others on the basis of field strength.The industry is segmented into spinal and musculoskeletal MRI, brain and neurological MRI, vaginal and abdominal MRI, breast MRI, cardiovascular MRI, and others with respect to the application of the disorder.The industry is categorised into medical imaging centres, hospitals and clinics, research labs, and pharmaceutical & biotechnology businesses according to the end consumer.Regional Overview Based on region the market is segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa.Leading to the growing prevalence of cardiovascular, neurological and ophthalmic diseases linked to the increasing geriatric population, which is a significant cause factor for this disease, America dominates the market for magnetic resonance imaging ( MRI) systems.
In addition, factors such as increased government interventions and support for medical device research, increased demand for accurate diagnosis, awareness of the adverse effects of radiation imaging, the potential to provide in-depth photographs of soft tissues and vascular systems, and the involvement of pharmaceutical giants are also driving the growth of the market in this area.Due to significant driving factors such as the provision of specialised treatment facilities, increased healthcare spending, strong healthcare infrastructure and the thriving medical technology industry due to the participation of major market players, Europe is the second largest market and holds a fair share in the global magnetic resonance imaging ( MRI) systems market.
Thus, due to the large customer population, faster adaptation of healthcare technologies, government measures to enhance the quality of healthcare, accessibility of favourable business growth of insurance policies will increase during the forecast period.
In addition, due to lower costs of clinical trials and testing, major players have set up their regional offices and production facilities in Singapore , China, Japan , Korea, and Australia, which would make the Magnetic Resonance Imaging ( MRI) systems industry a positive growth curve in the future.
Due to some major reasons , such as lack of knowledge, insufficient connectivity, and access to treatment facilities, the Middle East & Africa is expected to see the least growth in the sector.
