New Innovations in the MRI System Market that Driving Healthcare Industry Towards the Success Globally

MRI is the most preferred imaging modality due to its numerous advantages over other modalities in terms of image quality as well as the ability to capture the images through soft tissues. The rise in diseases such as brain tumors, breast cancers, prostate cancers, scoliosis, and sclerosis enhances the demand for MRI, which majorly drive the MRI market. However, development in technology such as superconducting (SC) magnets, open architecture, high-field MRI, and software applications are the other drivers of this market. However, decline in restitution rates for MRI procedures and scarcity of helium gas deposits obstructing the growth of this market, which restraints the market growth. The novel MRI systems are expected to detect the early molecular and cellular changes in Alzheimer disease and for other diseases, will provide scope in the market.

MRI System Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $6,493 million by 2022, registering a CAGR of 3.81% during the period 2016 to 2022.Closed surgery segment is expected to hold the largest market share during the analysis period.

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Key Findings of the MRI System Market:
• In 2015, close MRI dominated the MRI system market. It is projected to grow at a CAGR of 3.16% during the forecast period..

• LAMEA is expected grow at the fastest CAGR of 7.39%.
• North America contributed the largest share in the global MRI system market in 2015, and is projected to grow at a CAGR of 3.05% from 2016 to 2022.

• High field segment by type held the largest market share in 2015, accounted for $2,161 million.

• By type, high field segment for MRI system market is expected to grow at the fastest CAGR of 4.19% during the analysis period.

• In Europe, low field segment is expected to grow at the CAGR of 3.52% during the forecast period.

North America holds the largest market share of MRI systems due to the adoption of advancement in technology making MRI systems market more abundant in clinical applications. The global MRI system market in North America accounted for USD 1,756 million in 2014 and is anticipated to garner USD 2,245 million in 2022 expanding at a CAGR of 3.04 % between 2016 and 2022.

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MRI systems market in the Asia-Pacific region is expected to grow during the forecast period due to the large population base and healthcare reforms in this region.

Analyst Review :

MRI is a noninvasive diagnostic technique that creates computerized images of internal body tissues and is established on nuclear magnetic resonance of atoms within the body generated by the practice of radio waves. MRI gives different information about structures of internal body parts such as minor damages to ligaments, tendons, and muscles that cannot be seen with the X-ray, ultrasound, or computed tomography (CT) scan. The MRI system market is anticipated to grow at a CAGR of 4.96% from 2016 to 2022.

The growth of MRI market is due to increase in aging population in the western countries. Rise in number of diseases such as brain tumors, breast cancers, prostate cancers, scoliosis, and sclerosis enhance the demand for MRI, and thus majorly drive the MRI market. However, development in technology such as superconducting (SC) magnets, open architecture, high-field MRI, and software applications also fuel market growth. However, decline in restitution rates for MRI procedures and scarcity of helium gas deposits obstruct the growth of this market.

Top Key Players :

• GE Healthcare
• Hitachi Medical Corporation
• Phillips Healthcare
• Siemens Healthcare
• Toshiba Medical Systems Corporation.

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