MRI Systems Market – Due to Developing Healthcare Facilities By Leading Companies: Seimens AG, Koninklijke Philips N.V., Aurora Imaging Technologies Inc., General Electric Company, Hitachi Ltd., Esaote SpA and Toshiba Corporation

According to The National Health Council (NHC) of United States, around 133 million cases of chronic diseases were reported in the country in 2014, which accounts to 40% of the total population of the country. Moreover, NHC suggests that around 75% of the total healthcare costs are the results of chronic diseases suggesting these population to be graving for proper diagnostic and imaging requirements, which could be fulfilled by MRI systems.

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According to Center for Disease Control (CDC), 2016, around 610,000 deaths are reported in the U.S. annually due to cardiac arrest and other cardiovascular diseases. This rate could be lowered if proper diagnostic and imaging technologies are available in the market leading to opportunities for advancement in the MRI systems market.

According to Organisation for Economic Co-operation and Development (OECD), 110 per 1000 inhabitants in the U.S. have undergone MRI examination in 2014, suggesting intense use of MRI systems for diagnostic purpose in this geographical region. Asia Pacific is expected to exhibit fast growing development in MRI systems industry due rise in geriatric population. According to the Asian Development Bank, the geriatric population is projected to reach approximately 923 million by the end of 2020. Europe has registered slow growth in the global MRI systems market owing to Eurozone debt crisis.

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The global MRI systems market is found to show significant growth rate due to prevalence of chronic diseases like cancer, respiratory diseases and rheumatoid arthritis. The division of public health reports 178 per 100,000 deaths due to cancer and 156 per 100,000 deaths due to chronic obstructive pulmonary disease (COPD) according to chronic diseases data brief, 2016. Several other factors driving the global MRI systems market constitutes of rise in geriatric population, increase in incidence rates of sport and other injuries, growing awareness among people regarding early detection of diseases and developing healthcare facilities and infrastructure in countries such as China and India.

However, the stringent regulations for MRI systems approval, high set up and maintenance cost and lack of helium gas deposits could restrict the growth of the global MRI systems market.

Magnetic resonance Imaging (MRI) is an advanced medical imaging technique employed to image the anatomy and physiological processes in the body of an individual. These images are formed by MRI scanners using high power magnets, strong magnetic fields, radio waves and magnetic field gradients. Magnetic resonance imaging systems does not use ionizing radiations, it is mainly favored over computed tomography (CT) scans.

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The key players operating the global MRI systems market includes Seimens AG, Koninklijke Philips N.V., Aurora Imaging Technologies Inc., General Electric Company, Hitachi Ltd., Esaote SpA and Toshiba Corporation. These companies are dominating the global MRI systems market due to adopting policies like merger and acquisition, partnership and high investments in R&D.

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