Magnetic Resonance Imaging (MRI) System – Worldwide Market Growth Analysis and Future Scope
In the report, “Global Magnetic Resonance Imaging (MRI) System Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast” added by DecisionDatabases.com the market overview, market size; growth trends and future prospects are elaborately covered. The report incorporates the magnetic resonance imaging (MRI) market analysis on the basis of architecture, field-strength, and application. The report offers details about the drivers, restraints and growing opportunity in the industry.
Magnetic resonance imaging (MRI) is a medical imaging technology used for creating comprehensive images of the human anatomy and other health practices. This scanning uses strong radio waves and magnetic fields to form images of the human body. MRI is used to identify a variety of disorders such as tumors, spinal cord injuries, strokes, multiple sclerosis, and eye or ear problems in any plane or dimension. MRI technology is a major breakthrough in modern healthcare science. MRI is the most preferred scanning technique among others due to its numerous benefits in terms of its ability to capture good quality of scans of the soft tissues with minimal hazards to the patients. Rising geriatric population base coupled with recent technological advancements is driving the MRI system market. However, expensive scanning facility and unfavorable medical reimbursement policies are major challenges, which may slow down the market growth in the near future.
Rising health awareness about early diagnosis, increasing healthcare spending and growing prevalence of cardiac, oncological & neurological disorders are expected to fuel market demand for MRI systems in the near future. Preference of physicians towards MRI over other imaging techniques will further aid the market growth of this in the coming years. Rising market attractiveness for major players and their increasing investment for further technological development will also boost the market growth over the forecast period.
The report segments the global MRI system market based on architecture into closed and open MRI systems. The MRI system market has been further segmented based on field strength into low-to-mid-field (<1.5T), high-field (1.5T to 3T), very-high-field (4T to 6T) and ultra-high-field MRI systems (7T and above). High-Field MRI Systems (1.5T to 3T) is further sub-segmented as 1.5T and 3T MRI Systems. The high-field MRI is one of the leading segments and is expected to witness a significant growth over the forecast period owing to its wide adoption and rising popularity in the market.
Furthermore, the MRI system market has been segmented based on applications into the brain and neurological MRI, spine and musculoskeletal MRI, vascular MRI, pelvic and abdominal MRI, breast MRI and cardiac MRI. Brain & neurological MRI hold the major share followed by spine & musculoskeletal MRI. The brain & neurological MRI is a major application segment and is projected for the highest growth over the coming years on account of rising aging population and growing patient-awareness about early diagnosis of the disease.
North America is a leading market for MRI system and is estimated to continue its dominance over the forecast period owing to technological advancements and rising geriatric population in the region. Asia Pacific is also expected to witness a significant growth in the near future due to increasing purchasing power, entrance of major players and rising awareness in the region. Europe is anticipated to witness a sluggish growth in the coming years due to unfavorable reimbursement policy and mature market in the region.
The major players include Aurora Imaging Technology, Inc., Bruker Corporation, Esaote S.P.A, Fonar Corporation, GE Healthcare, Hitachi Medical Systems, Neusoft Medical Systems Co., Ltd., Philips Healthcare, Siemens Healthcare and Toshiba Medical Systems Corporation.
In March 2016, Canon Inc. announced a share transfer agreement with Toshiba Medical Systems to make TMSC a Canon subsidiary. This agreement is introduced to maximize the productivity of both companies and to solidify its business foundation for health care that can contribute to the world.
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