According to the latest publication from Meticulous Research®, the global MRI market would reach $5813.6 million by the year 2020 with a CAGR of 4.9% over the period of 2015 to 2020. The research report titled “Global Magnetic Resonance Imaging (MRI) Systems Market Outlook: 2015-2020” analyzes the major drivers, restraints, opportunities, and challenges that have a long and short-term impact on its growth across the globe.
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The growth of Magnetic Resonance Imaging (MRI) Systems market is primarily attributed to the increasing ageing population & growing number of chronic disorder, the rising awareness about early diagnosis, growing demand for high field scan, and various recent technological advancements in this field. The low penetration of MRI systems in developing economies such as India and China; rising incidences of cardiac, neurological and oncological diseases; growing healthcare spending; increased physician preference for MRI over other imaging modalities; and rising focus of major players in this region further provides significant opportunities for the players to invest in this region. However, the high cost of MRI systems, reducing reimbursement rates, and lack of sound technologists in many countries hinders the growth of this market to some extent.
The global MRI systems market is segmented by design, application, magnetic strength, and region. The application market is mainly divided into Neuro Imaging, Whole Body Imaging, Breast Imaging, Cardiac Imaging, Vascular Imaging, MSK/Extremity Imaging, Pediatric Imaging, and others. While by design the market is further divided into Open Systems and Closed Systems. Similarly, by magnetic strength, the MRI market is sub-segmented into 3T MRI, 1.5T MRI, Low Field MRI, Refurbished MRI, and others.
The global MRI systems market is further analyzed into four major geographies with country level analysis. The North American region accounted for the largest share in the global MRI systems market followed by Europe, and Asia-Pacific. Asia Pacific region provides significant growth opportunities for this market as a result of many technological and healthcare reforms in the region with improved economic conditions and positive approach of the government towards the healthcare sector. The Asia- Pacific market is expected to grow at a highest CAGR during the forecast period.
The report elucidates various important aspects of the global MRI market that facilitate the understanding of this market at a granular level. The report offers meticulous analysis of market dynamics, burning issues, and technological landscape of the global MRI market. The report further provides the competitive landscape of the major players in this market such GE Healthcare, Siemens Healthcare, Philips Healthcare, Hitachi Medical Corporation, and Toshiba Medical Systems and many others such as Esaote S.P.A, Neusoft Medical, Aurora Imaging Technology, IMRIS and Fonar Corporation with detailed analysis of their product portfolio, financials, strategies, and recent developments.
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