Global Magnetic Resonance Imaging (MRI) Market By Field Strength (High-Field MRI Systems (1.5t to 3t), Low-To-Mid-Field MRI Systems (<1.5t), Very-High-Field MRI Systems (4t and Above)) By Architecture (Closed MRI Systems, Standard Bore MRI, Wide-Bore MRI, Open MRI Systems), By Application (Oncology, Neurology, Cardiology, Gastroenterology, Musculoskeletal, Other Applications), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Magnetic Resonance Imaging (MRI) Market
Global magnetic resonance imaging (MRI) market is registering a substantial CAGR of 5.60% in the forecast period of 2019-2026. This rise in the market can be attributed to the new helium deposits invention, technological innovations in MRI and rise focus on replacing low-field MRI systems with high-level MRI systems.
Market Definition: Global Magnetic Resonance Imaging (MRI) Market
MRI is a non-invasive imaging technology that generates three-dimensional, comprehensive anatomical pictures. It is focused on advanced technology that stimulates and recognizes changes in the orientation of the rotation axis of the protons discovered in the water that makes up the living tissues. MRI enables your doctor to diagnose a disease or wound and can monitor how well you're doing with your therapy. It is particularly helpful when searching at smooth tissues and the nervous system. It may be used to assist diagnose or track therapy for a number of circumstances in the heart, abdomen and pelvis.
- New helium deposits invention is driving the growth of the market
- Technological innovations in MRI is propelling the growth of the market
- Increased focus on replacing low-field MRI systems with high-level MRI systems is boosting the growth of the market
- Enhanced geriatric population and increasing awareness of early diagnosis is contributing to the growth of the market
- MRI system’s high price is hampering the growth of the market
- Inconsistency of MRI systems in certain patient populations is hindering the growth of the market
- Decreasing reimbursement rates for MRI procedures and unpredictable results of healthcare reform is restricting the growth of the market
Segmentation: Global Magnetic Resonance Imaging (MRI) Market
By Field Strength
- High-Field MRI Systems (1.5t to 3t)
- 5t MRI Systems
- 3t MRI Systems
- Low-To-Mid-Field MRI Systems (<1.5t)
- Very-High-Field MRI Systems (4t and Above)
- Closed MRI Systems
- Standard Bore MRI
- Wide-Bore MRI
- Open MRI Systems
- Other Applications
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
Key Developments in the Market:
- In June 2019, Ann Arbor Startup Releases Virtual reality MRI Simulator SpellBound's MRI Simulator to decreases sedation levels and accustoms pediatric clients to MRIs in a pleasant, engaging manner. The MRI Simulator relieves such concerns by familiarizing kids with the MRI method, enabling them to pass through the operation to think relaxed when the moment arrives for their scanning. The Spellbound MRI Simulator is prepared to integrate into patient education programs and enhance patient experience with MRI.
- In September 2018, Philips has announced the release of the Ingenia Ambition X 1.5 T Magnetic Resonance Imaging (MRI) device. The device is a comprehensive digital MRI, healthcare, servicing, and life-cycle facilities for embedded alternatives that enable a quicker, smarter, and simpler route for hopeful diagnosis.Ingenia Ambition X is CE-marked and has received 510(k) clearance from the Food and Drug Administration (FDA). This latest leaner system will enable more locations to offer sophisticated MRI technology to their clients, assisting to enhance customer care.
Global magnetic resonance imaging (MRI) 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) market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major market competitors currently working in the global magnetic resonance imaging (MRI) market are Hitachi, Ltd., Siemens Healthcare GmbH, CANON MEDICAL SYSTEMS CORPORATION, GENERAL ELECTRIC COMPANY, Koninklijke Philips N.V.,, Aspect Imaging., Bruker, AURORA HEALTHCARE US CORP, ESAOTE SPA, FONAR, Neusoft Corporation, Mindray DS USA, Inc., TOSHIBA CORPORATION, Sanrad Medical Systems Private Limited, FUJIFILM Holdings Corporation, ONEX Corporation, Hologic, Inc., Quality Electrodynamics, LLC, Shenzhen Anke High-tech Co., Magritek Ltd and others.
Research Methodology: Global Magnetic Resonance Imaging (MRI) Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed 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 global magnetic resonance imaging (MRI) 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)