Magnetic Resonance Imaging Systems Market Top Trends and Key Players to 2023 - Projected Worth US$ 7.09 Billion

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MRI systems market is expected to reach USD 7.09 billion by 2023 from an estimated USD 5.85 billion in 2018, at a CAGR of 3.9%. Key factors driving growth of this market include, rising awareness about the benefits of early diagnosis, technological advancements leading to replacement of low-field MRI systems with high-field MRI systems, and discovery of new helium deposits.

Magnetic Resonance Imaging Systems Market is broadly classified into spine & musculoskeletal MRI, brain & neurological MRI, vascular MRI, pelvic & abdominal MRI, breast MRI, and cardiac MRI. Spine & musculoskeletal MRI is the fastest-growing segment. The high growth rate of this market can be attributed to the increasing aging population and rising awareness about early diagnosis.

Key players operating in the Magnetic resonance imaging systems market are GE Healthcare (U.K.), Hitachi Medical Corporation (Japan), Philips Healthcare (Netherlands), Siemens Healthcare (Germany), and Toshiba Medical Systems (Japan). Magnetic resonance imaging (MRI) of the body uses a powerful magnetic field, radio waves and a computer to produce detailed pictures of the inside of your body. A magnetic resonance imaging (MRI) scan is a common procedure used by hospitals around the world. MRI uses a strong magnetic field and radio waves to create detailed images of the organs and tissues within the body.

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The global MRI System market is segmented based on architecture, magnetic field strength, application, end users, and geography. Based on architecture, the market is segmented into Open MRI and Close MRI. According to field strength, the market is classified into low, mid, high, very high, and ultra-high field system. Based on application, the market is classified into ultra-Brain MRI, Spine MRI, Organ MRI, and Extremities.
Asian countries such as the China and India are lucrative markets for MRI systems, owing to increasing spending power, growing healthcare awareness, improving healthcare infrastructure, growing medical tourism, increasing number of hospitals, and favorable government initiatives. New and innovative product launches was the dominant strategy adopted by key industry participants to increase their market share and cater to unmet needs.

The competitive landscape covers the growth strategies adopted by industry players in the last three years. The company profiles comprise basic views on key players in the MRI systems market and the product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares in the near future.

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