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What's driving the Magnetic Resonance Imaging Systems Market growth? Key Players are: are Hitachi, Toshiba and Siemens, Koninklijke Philips N.V. and GE Healthcare
Asia Pacific region will witness significant growth of 7.9% throughout the forecast timeframe. Rising incidences of chronic obstructive pulmonary disease in this region have encouraged companies manufacturing MRI systems to take initiatives for spreading awareness regarding early disease diagnosis. Thus, increasing awareness regarding early diagnosis of chronic diseases amongst people in emerging countries such as India and China will prove beneficial for regional market growth.
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High to Ultra High (>1.5T) segment will grow at 6.4% over the forecast timeframe owing to high resolution images provided by these MRI scanners. According to American journal of neurology, 7T systems demonstrates more accurate images of white matter lesions in multiple sclerosis diagnosis as compared to 1.5T. These features help healthcare professionals to arrive at accurate conclusions that propels its preference.
Magnetic Resonance Imaging (MRI) Systems Market will exceed USD 8 billion by 2025; as per a new research report. Closed systems segment held 97% revenue share in 2018 and it will witness enormous growth during the upcoming years due to its extensive usage in diagnosis of orthopedic disorders. Closed systems consist of super conducting magnets that provides high-resolution images. Moreover, physicians prefer this type of system for diagnosing as it gives access to areas of the body that are not inaccessible through conventional scanning devices. Aforementioned factors will positively influence the demand for closed systems thereby, driving segmental growth.
Hospital segment was valued around 3 billion in 2018. Segmental growth can be associated with increasing government initiatives for developing healthcare infrastructure in developed as well as developing economies. Government funded hospitals can adopt the expensive MRI systems. Furthermore, rising prevalence of cancer, multiple sclerosis and cardiovascular diseases that needs pre diagnostic tests will increase demand for MRI systems in hospitals thus, escalating segmental growth.
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Prominent competitive players operational in the MRI market are Hitachi, Toshiba and Siemens, Koninklijke Philips N.V. and GE Healthcare. These industry players follow different strategies such as collaborations and new product launch, partnerships for improving their market position. For instance, in 2017, GE Healthcare launched SIGNA Premier ? 70cm that has high resolution imaging quality. Introduction of new MRI system has broadened the company?s portfolio.
Table of Contents:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Magnetic Resonance Imaging (MRI) Systems Industry Insights
Chapter 4. Magnetic Resonance Imaging (MRI) Systems Market, By Architecture
Chapter 5. Magnetic Resonance Imaging (MRI) Systems Market, By Field Strength
Chapter 6. Magnetic Resonance Imaging (MRI) Systems Market, By End-use
Chapter 7. Magnetic Resonance Imaging (MRI) Systems Market, By Region
Chapter 8. Company Profiles
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Related Report:
Global Magnetic Resonance Imaging Systems Market Insights, Forecast to 2025
The global Magnetic Resonance Imaging Systems market is valued at million US$ in 2018 and will reach million US$ by the end of 2025, growing at a CAGR of during 2019-2025. The objectives of this study are to define, segment, and project the size of the Magnetic Resonance Imaging Systems market based on company, product type, end user and key regions.
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