Global Open System MRI Market is estimated to grow at a rate of CAGR 4.8 % between 2016 and 2021 to reach $1.26 billion :Top keyplayers are GE ,Hitachi Medical Corporation ,Philips Healthcare ,Siemens Healthcare ,Toshiba Medical Systems

Description

The market is estimated to grow at a rate of CAGR 4.8 % between 2016 and 2021 to reach $1.26 billion. MRI is a more powerful diagnostic tool as compare to CT. It is replacing CT because of its higher sensitivity and use of non-ionizing radiations. Between the two available systems of MRI- open and closed, open MRI is the more popular one. Open MRI systems have a magnetic field in the top and bottom and do not enclose the patient in a tunnel which prevents the patients becoming Claustrophobic. According to a study, one in every 6 patients suffers from claustrophobia hence the open system is preferred and is fast replacing the closed system.

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Market Dynamics

Advancement in technology and healthcare facilities has made this technology popular. It is not only safe but also preferred by all patients as it does not make them claustrophobic. It is more sensitive than CT. The growing aging population and higher incidence of diseases are among the drivers of this market.

The increasing number of accidents recorded in patients with implants such as pacemakers and cochlear implants are among the few constraints for this market. The technology also requires skilled professionals for performing the diagnosis and analyzing the results.
Some of the factors like high cost of MRI systems, draining helium gas deposits, declining reimbursement rates, lack of skilled labor and complexity of machines are restraining the market.

Market Segmentation

The market is segmented on the basis of resolution, application and geography.
Segmentation on the basis of resolution
Low-field
Mid-field
High-field
Segmentation on the basis of Applications:
Neurology
Cardiology
Gastroenterology
Oncology
Segmentation on the basis of Geography:
North America
Europe
Asia-Pacific
Middle East
Africa
Rest of the World

North America has the largest share followed by Asia-Pacific. Asia-Pacific will be fastest growing region because of increase in disposable income.
India and China are the major countries in the region contributing high to the market.
Europe is also showing a positive growth in the market due to rising geriatric population and rising technological and healthcare reforms.
Rest of the world is showing slow growth due to low education and low healthcare expenditure.

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Key Players

The key players in the industry are:
GE
Hitachi Medical Corporation
Philips Healthcare
Siemens Healthcare
Toshiba Medical Systems

Report Contents Regional Analysis Report Highlights

Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market - Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

Eastern Europe
Russia
Poland
Rest of Eastern Europe

Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific

Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

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Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage

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