Magnetic Resonance Imaging Systems Market Synopsis
According to Market Research Future Reports, the global magnetic resonance imaging systems market is estimated to reach value of USD 5 billion, expanding at a CAGR of 3.5% during the review period. The increasing demand for the non-invasive process is likely to be the most significant factor driving the worldwide magnetic resonance imaging system market 2020. The toxic impact of radiation-based imaging is propelling the market further. The growing usage of magnetic resonance imaging systems approach in drug recognition procedure, and prior clinical research is projected to fuel the global market.
Moreover, the other factors, such as the growing geriatric population, has resulted in increased cases of cardiovascular, ophthalmic, and neurological disorders, which is another important factor leading to the growth of the market. Also, increased technical development in the field of healthcare is likely to fuel the market significantly. Further, there has been an increased awareness of the importance of early diagnosis of diseases, which helps in the early treatment. On the contrary, the market growth is projected to be hampered by causes such as strict regulatory acceptance, procedures expensive cost of equipment, lack of expertise in operators, and inadequate compensation schemes for magnetic resonance imaging (MRI) systems procedures.
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Magnetic Resonance Imaging Systems Market Segmentation
The worldwide magnetic resonance imaging systems market can be distinguished on the grounds of field strength, type, disease application, end-user, and region.
Based on field strength, the worldwide magnetic resonance imaging systems market can be distinguished into high-field MRI systems, 1.5t MRI systems, 3t MRI systems, low-to-mid-field MRI systems, very-high-field MRI systems, and others.
Based on type, the worldwide magnetic resonance imaging systems market can be distinguished into closed MRI, open MRI, standard bore MRI, and wide-bore MRI
Based on diseases application, the worldwide magnetic resonance imaging systems market can be distinguished into the brain and neurological MRI, the spine and musculoskeletal MRI, breast MRI, pelvic and abdominal MRI, cardiovascular MRI, and others
Based on end-user, the global magnetic resonance imaging market can be distinguished into pharmaceutical &biotechnology companies, hospitals and clinics, diagnostic imaging centers, and research laboratories.
Based on region, the worldwide magnetic resonance imaging systems market can be distinguished into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
Magnetic Resonance Imaging System Market Regional Analysis
The worldwide magnetic resonance imaging systems market is anticipated to grow significantly during the forecast period. Regionally, the market has been classified into the Americas, Europe, Asia Pacific, and the Middle East and Africa. In terms of region, the Americas are likely to dominate the global market for magnetic resonance imaging systems due to the growing increasing cardiovascular cases. Further, the increasing initiatives taken by the government is projected to fuel the magnetic resonance imaging systems market.
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Also, the established pharmaceuticals are likely to propel the regional magnetic resonance imaging systems market. The second-largest market is estimated to be held by Europe. The global market for the magnetic resonance imaging system is propelling due to the presence of developed factors, increased healthcare expenditure, and the prospering medical device sector owing to the influence of various magnetic resonance imaging systems market players. The APAC region is anticipated to be the most developing market due to the increasing initiatives taken by the government and the adaptation of advanced healthcare technology. The MEA region is estimated to show the least growth owing to the lack of awareness, and the presence of underdeveloped countries.
Magnetic Resonance Imaging System Market Key Players
The established players of the global magnetic resonance imaging systems market are Hitachi, Canon Medical Systems, Aurora Imaging Technologies, Inc., GE Healthcare, Siemens AG, Xingaoyi, Toshiba Corporation, and Philips.
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