Global MRI system market is anticipated to witness an exponential growth in the forecast period. Magnetic resonance imaging (MRI) is an integrated healthcare system. It is used for capturing images of inner parts of the body. These images are formed by MRI scanners using high power magnets, strong magnetic fields, magnetic field, and radio waves gradients.
Factors such as increasing use of MRI in diagnosing diseases in their initial stages, non-invasive nature and increasing inclination, MRI systems produce improved images with more contrast as compared to conventional imaging techniques, and rising awareness among the population are likely to drive the market in the forthcoming period.
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On the other hand, high price and a shortage of liquid helium are anticipated to hinder the Magnetic Resonance Imaging (MRI) systems market growth in the future. However, growing technological advancements are likely to create lucrative opportunities for the market. The market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
MRI System market is segmented by type, field strength, application, and geography. The market is segmented by type as open MRI systems and closed MRI systems. The “closed” segment accounts for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factors that could be attributed to the growth of the market include increasing demand and patient-friendly design that accommodates larger patients.
Based on field strength, the Magnetic Resonance Imaging (MRI) systems market is segmented by very high-field MRI, ultra-high-field MRI, High-field MRI, and low-to-mid-field-MRI. The “very high-field MRI” segment accounts for a major share in the market. The key factor that could be attributed to the growth of market includes surge in acceptance of MRI systems in clinics, hospitals, and diagnostic centers. The key applications are segmented in the market include Pelvic and Abdominal MRI, Brain and neurological MRI, Spine and musculoskeletal MRI, Vascular MRI, Cardiac MRI, and Breast MRI.
North America is a leading region in the market. It is likely to maintain its dominance in the forecast period owing to factors such as high healthcare spending, and advanced healthcare facilities and the rising aged population in the North American region. North America is followed by the Asia-Pacific region owing to an increase in the geriatric population, the rise in incidence rates of sport and other injuries.
Key players operating in the MRI system market include Esaote SpA, Bruker Corporation, Fonar Corporation, Hitachi Medical Systems, GE Healthcare, Philips Healthcare, Neusoft Medical Systems Co. Ltd, Aurora Imaging Technology, Canon Medical Systems Ltd, and Siemens Healthineers, amongst others. The leading companies are involved in partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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• Open MRI system
• Closed MRI system
• North America
• Asia Pacific
• Middle East and Africa
• South America
• GE Healthcare
• Philips Healthcare
• Siemens Healthineers
• Advanced Imaging Research
• Biophan Technologies
• Hitachi Medical Systems
• Ningbo Jansen NMR Technology
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Key Questions Answered in this Report
• What will the market size be in 2022?
• What are the key factors driving the global MRI system market?
• What are the challenges to market growth?
• Who are the key players in the MRI system market?
• What are the market opportunities and threats faced by the key players?
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/medical-devices
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