Europe Magnetic Resonance Imaging (MRI) Devices Market By Field Strength (Low-To-Mid-Field MRI Systems (<1.5T), High-Field MRI Systems (1.5T to 3T), Very-High-Field MRI Systems (4T and Above)) By Architecture (Closed MRI Systems, Open MRI Systems, Standard Bore MRI, Wide-Bore MRI), By Application (Oncology, Musculoskeletal, Cardiology, Gastroenterology, Neurology, Others), End-Use (Hospitals, Imaging Centers, Ambulatory Surgical Centers, Others), Country (Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe) – Industry Trends and Forecast to 2026
Market Analysis: Europe Magnetic Resonance Imaging (MRI) Devices Market
Europe magnetic resonance imaging (MRI) devices market is registering a substantial CAGR in the forecast period of 2019-2026. This growth in market value can be attributed to increasing geriatric population and advancement in scanning techniques.
Market Definition: Europe Magnetic Resonance Imaging (MRI) Devices Market
MRI is a non-invasive imaging technique that produces three-dimensional, accurate anatomical photographs. This relies on advanced technology which activates and identifies shifts in the direction of the rotation axis of the protons found in the water that makes up the living tissues. MRI helps the physician to identify an infection or an injury and to track how well you are doing with the therapy. It is particularly helpful when looking for smooth tissues and the nervous system.
- Rising geriatric population, is expected to drive the market growth
- Discovery of new helium deposits, drives the market growth
- Increasing awareness among people on early diagnosis, is driving the market growth
- Technological innovations in scanning techniques such as MRI and others is expected to drive the market growth
- Incompatibility of MRI devices in certain patient population, hindering the market growth
- High cost of MRI system, is hampering the growth of market
- Diminishing rate of reimbursement for MRI procedures, impact on the growth of this market
Segmentation: Europe Magnetic Resonance Imaging (MRI) Devices Market
By Field Strength
- Low-To-Mid-Field MRI Systems (<1.5T)
- High-Field MRI Systems (1.5T to 3T)
- 5T MRI Systems
- 3T MRI Systems
- Very-High-Field MRI Systems (4T and Above)
- Closed MRI Systems
- Open MRI Systems
- Standard Bore MRI
- Wide-Bore MRI
- Imaging Centers
- Ambulatory Surgical Centers
- Rest of Europe
Key Developments in the Market:
- In April 2019, Biotronik, Inc. launched Rivacor and Acticor cardiac resynchronization therapy defibrillator (CRT-D) and implantable cardioverter defibrillator (ICD) in Europe as world’s smallest CRT-D and ICD devices that are approved for 3T full-body magnetic resonance imaging (MRI) scans. With the launch of this product, the company will expand its product portfolio which helps to increase sales and revenue of the company.
- In February 2019, Axonics Modulation Technologies, Inc. has been given CE clearance for 1.5T and 3T full-body magnetic resonance imaging state branding for the Axonics r-SNM device. It is the only implantable SNM system which has received a full-body, conditional MRI label for sale in Europe region. With the approval for this product, the company expands its business as well as product portfolio to grow its sales and revenue.
Europe magnetic resonance imaging (MRI) devices market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of magnetic resonance imaging (MRI) devices market for Europe.
Key Market Competitors:
Few of the major market competitors currently working in the Europe magnetic resonance imaging (MRI) devices market are 3M, Medtronic, GENERAL ELECTRIC, ESAOTE SPA, Hitachi, Ltd, Siemens Healthcare Private Limited, CANON MEDICAL SYSTEMS CORPORATION, Koninklijke Philips N.V., TOSHIBA CORPORATION, Carestream Health, Hologic, Inc., STERYLAB S.r.l., Wardray Premise Limited, and Medinvent Ltd among others.
Research Methodology: Europe Magnetic Resonance Imaging (MRI) Devices Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others
Reasons to Purchase this Report
- Current and future of Europe magnetic resonance imaging (MRI) devices market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)