Global Magnetic Resonance Imaging (MRI) Systems Market, By Application (Neurology, Cardiology, Breast Imaging, Vascular Imaging, Extremity Imaging, Pediatric Imaging, Others), Field Strength (Very-high—field, High-field, Low-to-mid-field), Architecture (Closed MRI systems, Standard bore MRI, Wide bore MRI, Open MRI systems), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
Magnetic resonance imaging (MRI) systems market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to reach at an estimated value of 4.88 billion and grow at a CAGR of 4.25% in the above-mentioned forecast period. Increasing geriatric population drives the magnetic resonance imaging (MRI) systems market.
Magnetic resonance imaging (MRI) is an imaging technology which is used to diagnose the diseases or health concerns in the body. Magnetic Resonance Imaging scanners uses electromagnetic radiation to develop images of the body. Its applications are widespread in terms of diagnosis, aftermath of diseases, identification of phase of disease.
Rising awareness about the benefits of diagnostic imaging systems is the vital factor escalating the market growth, also rising development of innovative and hybrid MRI systems that offer high quality imaging, increasing awareness on early diagnosis, rising focus on the replacement of low-field MRI systems with high-field MRI Systems, increasing technological advancements, rising discovery of new helium deposits and rising number of cases of cardiovascular diseases, cancer, and neurological disorder are the major factors among others driving the magnetic resonance imaging (MRI) systems market. Moreover, emerging markets, rising novel application areas such as detection of multiple sclerosis and metastasis in cancer and rising hybrid MRI systems will further create new opportunities for magnetic resonance imaging (MRI) systems market in the forecasted period of 2021-2028.
However, increased cost of MRI systems, rising incompatibility of MRI systems in some patient populations and declining reimbursement rates for MRI procedures and uncertain outcomes of healthcare reforms are the major factors among others which will obstruct the market growth, while rising dearth of skilled personnel will further challenge the growth of magnetic resonance imaging (MRI) systems market in the forecast period mentioned above.
This magnetic resonance imaging (MRI) systems market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on magnetic resonance imaging (MRI) systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Magnetic Resonance Imaging (MRI) Systems Market Scope and Market Size
Magnetic resonance imaging (MRI) systems market is segmented on the basis of application, field strength and architecture. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of application, the magnetic resonance imaging (MRI) systems market is segmented into neurology, cardiology, breast imaging, vascular imaging, extremity imaging, paediatric imaging and others.
- Based on field strength, the magnetic resonance imaging (MRI) systems market is segmented into very-high—field, high-field and low-to-mid-field. High-field MRI systems has been further segmented into 5T MRI systems and 3T MRI systems.
- The magnetic resonance imaging (MRI) systems market is also segmented on the basis of architecture into closed MRI systems, standard bore MRI, wide bore MRI and open MRI systems.
Global Magnetic Resonance Imaging (MRI) Systems Market Country Level Analysis
Magnetic resonance imaging (MRI) systems market is analysed and market size insights and trends are provided by country, application, field strength and architecture as referenced above.
The countries covered in the magnetic resonance imaging (MRI) systems market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the magnetic resonance imaging (MRI) systems market due to rising incidence of chronic diseases such as breast cancer, cardiovascular disorders, and neurological diseases and growing incidence of chronic conditions in this region. Asia-Pacific is the expected region in terms of growth in magnetic resonance imaging (MRI) systems market due to increasing geriatric population and demand for advanced imaging modalities in this region.
The country section of the magnetic resonance imaging (MRI) systems market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Magnetic resonance imaging (MRI) systems market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment’s, installed base of different kind of products for magnetic resonance imaging (MRI) systems market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the magnetic resonance imaging (MRI) systems market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Magnetic Resonance Imaging (MRI) Systems Market Share Analysis
Magnetic resonance imaging (MRI) systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to magnetic resonance imaging (MRI) systems market.
The major players covered in the magnetic resonance imaging (MRI) systems market report are Siemens Healthcare Private Limited, GENERAL ELECTRIC, Koninklijke Philips N.V., Hitachi Ltd., CANON MEDICAL SYSTEMS CORPORATION, Aspect Imaging, Bruker, Aurora Health Care, Esaote SpA, FONAR, Neusoft Corporation, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Shimadzu Corporation, Carestream Health, Hologic Inc., Barco, and Nordion Inc. among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.