Magnetic Resonance Imaging (MRI) Systems Market by Field Strength (High-Field MRI Systems (1.5t to 3t) 5t MRI Systems 3t MRI Systems Low-To-Mid-Field MRI Systems (

Global Magnetic Resonance Imaging (MRI) Systems Market was valued at USD 5.63 Billion in the year 2017. Global Magnetic Resonance Imaging (MRI) Systems Market is further estimated to grow at a CAGR of 4.02% from 2018 to reach USD 7.13 Billion by the year 2023. The North America region holds the highest market share in 2018 and the Asia Pacific is considered as the fastest growing market in the forecasted period. At a country level, US, China, and the U.S. are projected to grow strongly in the coming years due to increasing density of population and funding through Research and Development.

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Hitachi (Japan), Siemens Healthineers (Germany), Canon Medical Systems (Japan) are the key players in this market. Rising research and development expenses are catering to changing demand of end users. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.

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Drivers:

• Increasing geriatric population
• Detection of metastasis in cancer

Restraints:

• Quite expensive and not affordable by all

Opportunities:

• Technological advancements

Challenges:

• The high cost associated with R&D

The Global Magnetic Resonance Imaging (MRI) Systems Market is segmented as By Field Strength, Architecture, and Region. The Field Strength segment is divided into High-Field MRI Systems (1.5t to 3t), 5t MRI Systems, 3t MRI Systems, Low-To-Mid-Field MRI Systems ()

The Architecture segment is divided as Closed MRI Systems, Standard Bore MRI, Wide-Bore MRI and Open MRI Systems in which the closed MRI system accounts for the largest market share due to the high field strength of these systems enabling higher image quality. Among all, it is expected that the closed MRI Systems will be growing at a moderate CAGR of XX % in the assessment period.

Key Benefits for Stakeholders

• Hospitals
• Diagnostic centers
• Research institutes
• Academic institutes
• Medical device suppliers
• Market research and consulting firms

By Field Strength

• High-Field MRI Systems (1.5t to 3t)
• 5t MRI Systems
• 3t MRI Systems
• Low-To-Mid-Field MRI Systems (
• Very-High-Field MRI Systems (4t and Above)

By Architecture

• Closed MRI Systems
• Standard Bore MRI
• Wide-Bore MRI
• Open MRI Systems

By Region

• North America
• Europe
• Asia-Pacific
• RoW

Key Market Players

• Hitachi
• Siemens Healthineers
• Canon Medical Systems
• GE Healthcare
• Philips
• Aspect Imaging
• Bruker
• Aurora Imaging Technology
• Esaote S.P.A
• Fonar

(A brief overview of 10 companies is also provided)

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This release was published on openPR.