Global Magnetic Resonance Imaging (MRI) Market Research Report 2012 -2023
Summary - A new market study, Magnetic Resonance Imaging (MRI) Market, 2012 to 2023 ” has been featured on WiseGuyReports.
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
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