Magnetic Resonance Imaging (MRI) Systems Market Analysis Focusing on Top Key Players - Koninklijke Philips N.V., Hitachi, GE Healthcare, Toshiba, Siemens, Aurora Imaging Technologies, Esaote SpA, Sanrad Medical Systems, Fonar Corporation and Neusoft Medic

MRI Systems Market size is set to exceed USD 8 billion by 2025; according to a new research report by Global Market Insights. Growing geriatric population will drive MRI systems market growth over the forecast years. According to UN data, the number of individuals aged 60 years and above are estimated to reach 1.4 billion by 2030. Elderly population base is susceptible to chronic diseases that increases the demand for MRI systems for diagnosis, proving beneficial for the industry growth. Neurological and orthopedic disorders are more prevalent in geriatric population and technologically upgraded MRI scanners are extensively utilized for accurate and efficient diagnosis that elevates the industry growth.

Growing public awareness pertaining to early disease diagnosis will serve to be a high impact rendering factor. Moreover, several organizations also actively participate in campaigns to promote awareness regarding availability of upgraded medical devices for accurate diagnosis. For instance, World Health Organization (WHO) has launched various cancer prevention programs in different countries like India, Ireland, Korea. Early detection of chronic diseases like cancer and neurological diseases increases chances for successful treatment; increasing the demand for MRI systems. However, dearth of skilled professionals in emerging economies will restrain the MRI systems market growth to some extent.

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Open MRI Systems market segment was valued at USD 168.5 million in 2018 and is projected to witness significant growth during the forecast years. Open MRI systems are designed with magnetic areas at top and bottom without any enclosure for the patient. Open space helps in reducing claustrophobia and increase patient comfort levels during scanning. Also, this type of architecture is comfortable for overweight and obese patients as it allows scanning of critical body parts without any discomfort to the patient. Moreover, cryogen-free design and the use of permanent magnets make open MRI systems cost-effective with lower maintenance costs that positively influences segmental growth.

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