Global Magnetic Resonance Imaging (MRI) Market Research Report 2012-2023
Summary - A new market study, titled “Magnetic Resonance Imaging (MRI) Market, 2012 to 2023 ” has been featured on WiseGuyReports.
Market
Outline: Magnetic Resonance Imaging (MRI) Market
Magnetic Resonance Imaging (MRI) is a non-invasive advanced
diagnostic tool for disorders and diseases related to spine lesions, central
nervous system, tumours, soft tissues, and other organs of the body. MRI
produces high-quality images of tissues and body organs by applying the
magnetic field strength and these images provide the information about the
human body system. The quality of images produced by MRI depends on the
magnetic field strength of the device. High field strength MRI produce clear
images when compared with remaining magnetic resonance imaging devices. The
images produced by magnetic resonance imaging system (MRI) systems give a clear
information compared with other images such computed tomography (CT), X-ray,
and ultrasound techniques
Market Dynamics: Magnetic Resonance Imaging (MRI) Market
Increase in the global geriatric population, the rise in
prevalence of chronic diseases such as neurological, cardiovascular, and other
orthopaedic disorders, and technological advancements such as high field
strength MRIs are anticipated to fuel the Magnetic Resonance Imaging (MRI)
market over the forecast period. Moreover, increase in preference for
non-invasive or minimally invasive diagnostic procedures, the rise in awareness
about health in developing and developed countries, and the wide range of
applications of MRI devices are propelling the magnetic resonance imaging (MRI)
market. However, the high cost of the diagnostic procedure, unfavourable
reimbursement policies, the rise in competition from cost-effective imaging
procedures, and lack of skilled professionals are expected to hinder the growth
of magnetic resonance imaging (MRI) market over the forecast years.
Market Scope: Magnetic Resonance Imaging (MRI) Market
Magnetic resonance imaging (MRI) market is segmented on the
basis of design, magnetic field strength, application, end user, and region
Based on the design, market is segmented into the following
Open MRI Systems
Closed MRI Systems
Based on the magnetic field strength, market is segmented into
the following
Low to midfield strength MRI systems (less than 1.5 Tesla)
High field strength MRI systems (1.5-3Tesla)
Very high field strength MRI systems (4-6Tesla)
Ultra-high field strength MRI systems (7 Tesla and above)
Based on the application, the market is segmented into the
following
Brain and Neurological MRI System
Abdominal MRI System
Spine and Musculoskeletal MRI System
Vascular MRI System
Pelvic MRI System
Cardiac MRI System
Others
Based on the end user, the market is segmented into the
following:
Hospitals
Ambulatory Surgical Centers
Diagnostic Centers
Based on region, the market is segmented into the following:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Market Summary: Magnetic Resonance Imaging (MRI) Market
Magnetic Resonance Imaging (MRI) market exhibiting lucrative
growth owing to technological advancements such as innovation of newer MRI
devices with high and low magnetic field strengths. Moreover, expanding the
application of MRI in the various cancers screening and neurological disorders
such as Alzheimer’s disease and multiple sclerosis, the rise in a number of
road accidents lead to orthopaedic injuries, and need for high-resolution
scanning techniques for spine and musculoskeletal injuries are expected to
bolster the Magnetic Resonance Imaging (MRI) market. Furthermore, market
players are adopting strategies such as acquisitions and mergers,
collaborations, and launching of newer devices to garner larger market share.
For instance, in July 2012, Aurora Imaging Technology, Inc. inked a
distribution agreement with SUMEC Group Corporation for expanding breast MRI in
China. In addition, in September 2016, GE Healthcare received market clearance
for MAGnetic resonance image Compilation (MAGiC) software, a multi-contrast MRI
technique that delivers eight contrasts in a single acquisition in a fraction
of the time of conventional imaging.
Regional Analysis: Magnetic Resonance Imaging (MRI) Market
Geographically, global magnetic resonance imaging (MRI) market
is segmented into North America, Europe, Asia Pacific, Latin America, and
Middle East and Africa. North America Magnetic Resonance Imaging (MRI) market
growth is driven by an increase in the prevalence of neurological disorders,
technological advancements in devices, well-developed healthcare
infrastructure. Europe Magnetic Resonance Imaging (MRI) market exhibiting
lucrative growth opportunities due to the adoption of newer technologies, rise
in prevalence of chronic diseases, growing awareness about early diagnosis, an
increase in healthcare expenditure in the region. Asia Pacific magnetic
resonance imaging (MRI) market is poised to grow due to increase in medical
tourism in China and India, availability of the large patient pool, growing per
capita income, an increase in the awareness about healthcare are expected to
propel the market. Latin America Magnetic Resonance Imaging (MRI) market driven
by the increase in the number of road accidents and sports injuries, adoption
of newer technologies, and expansion of businesses into the region. Middle East
and Africa Magnetic Resonance Imaging (MRI) market growth attributed to
increasing awareness about early-stage disease diagnosis, and rise in
prevalence of chronic diseases in the region.
Competition Assessment: Magnetic Resonance Imaging (MRI) Market
Some of the players in the global magnetic resonance imaging
(MRI) market include:
Hitachi Medical Corporation (Japan)
Siemens Healthineers (Germany)
Toshiba Medical Systems (Japan)
GE Healthcare (U.K.)
Philips Healthcare (Netherlands)
Esaote SpA (Italy)
Sanrad Medical Systems Pvt. Ltd (India)
Aurora Imaging Technology, Inc. (U.S.)
SUMEC Group Corporation (China)
Notable Market Developments: Magnetic Resonance Imaging (MRI)
Market
In October 2017, Siemens Heathineers received FDA clearance for
Magnetom Terra, a high field 7T MRI scanner
FOR MORE
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