Rapid Advancements in MRI Systems Market to Fuel Revenues Through 2020

Magnetic resonance imaging (MRI) is an integrated healthcare system which is used for imaging internal parts of body. It is most widely used for diagnostics imaging of central nervous system for detecting stroke affected areas of brain, brain tumours, imaging blood vessels and spine lesions. It involves the use of magnetism, radio waves, and a computer to produce images of body structures. MRI scans are also used widely for cardiac and liver scans. MRI systems market has experienced high growth rate due to keen interest shown by developers and manufactures for this technology and its patient friendly nature.

On the basis of field length, high field and very high field whole body cylindrical scanners is the largest segment in global MRI systems market. This is due to high resolution images produced by them. North America, followed by Europe dominates the MRI systems market. This is due to rapid technological development and increasing aging population in the region. Asia is also expected to experience high growth rate, due to large population base, improved healthcare facilities, and physician’s inclination towards MRI systems over other conventional methods for medical imaging.

Increasing use of MRI in detecting diseases in their early stages, technological advances, non-invasive nature and increasing inclination are driving the global MRI systems market. In addition, MRI systems produce better images with more contrast as compared to conventional imaging techniques. For diagnosis of stroke, diffusion MRI systems are preferred over computed tomography (CT), due to better quality of images produced by MRI systems. However, shortage of liquid helium which is required as a coolant for MRI systems has resulted in increase in prices. High cost of MRI scans, less R&D budgets and limited reimbursements are restraining the growth of global MRI systems market.

Companies are focussing on analyzing more applications for MRI systems. Also, companies are involved in development of MRI systems with improved patient’s comfort and less price. These are some of the opportunities that are expected to boost the market for MRI systems.

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Companies focussing on emerging markets for their geographical expansion are some of the recent trends that have been observed in the global MRI market. Some of the major companies operating in MRI systems market are GE Healthcare, Philips Healthcare, Toshiba Medical Systems Corporation, Siemens Healthcare, Hitachi Medical Corporation and Shimadzu Corporation. Other players with significant presence in MRI systems market include Esaote S.P.A, Agilent Technologies, Inc, Time Medical Systems and Aurora Imaging Technology.

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