Rising awareness of the early diagnosis would propel the growth of MRI systems market in near future.Published On: January 28, 2016
Since the beginning of this decade, a lot of importance is given to the early diagnosis of the clinical disorders which has paved the way for many technological advancements and innovations. MRI technology is a mile stone in the diagnosis of many chronic health conditions cited to its ability to capture more complex soft tissue structure. This enables the physicians to diagnose the disorders in time so the chances of cure are increased.
Early detection of chronic disorders like cancer and neurological diseases greatly increases the chances for successful treatment; therefore healthcare sector is now emphasizing on the early detection of such diseases rather than spending on expensive treatments. For instance, World Health Organization (WHO) has launched various cancer prevention programs in different countries like India, Ireland, Korea, and others. These programs aims to reduce the number of cancer cases and deaths by improving quality of life of cancer patients, through systematic and equitable implementation of evidence-based strategies for prevention, early detection, diagnosis, treatment, and palliation, making the best use of available resources.
American Cancer Society has already made the recommendation and came up with the guideline for the screening of the cancer suspects. The guidelines are issued for almost all types of cancers such as breast cancer, lung cancer, colorectal cancer, skin cancer, brain cancer, and many other types of cancer. The screening advised by the American Cancer Society includes the physical examinations and scanning through the imaging technologies like Magnetic Resonance Imaging (MRI).
Similarly, government bodies have also started to realize the need of early detection of chronic disorders and prevent the economy from added healthcare expenditure, for this instance, the Affordable Care Act passed in 2010 makes the prevention and early detection services free of charge to the aged peoples (65 years and above) through Medicare coverage. While in Europe 10 nonprofit organizations have formed an unprecedented alliance that aims to raise the awareness about the early diagnosis of the chronic and non-communicable disorders. Such initiatives are expected to propel the diagnosis rate of chronic diseases across the globe.
Thus, this increasing awareness and efforts for the early diagnosis promises the number of opportunities to all the stakeholders in this market. According to the latest market research report published by Meticulous Research® on “Global Magnetic Resonance Imaging (MRI) Systems Market Outlook: 2015-2020”, the global MRI market is poised to grow at a CAGR of 4.9% to reach $5813.6 million by the end of 2020. It also elucidates and 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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