Magnetic Resonance Imaging (MRI) Market Size Anticipated To Reach At USD 11.05 Billion By 2027

Precision Business Insights published a research report on “Magnetic Resonance Imaging (MRI) Market By Design (Open MRI Systems, Closed MRI Systems), By Magnetic Field Strengths (Low to mid field strength MRI systems, High field strength MRI systems, Very high field strength MRI systems, Ultra high field strength MRI systems), By Application (Brain and Neurological MRI, Abdominal MRI, Spine and Musculoskeletal MRI, Vascular MRI, Pelvic MRI, Cardiac MRI, Others), By End User (Hospitals, Ambulatory Surgical Centers Diagnostic Centers), and Geography (Latin America, North America, Asia Pacific, Middle East & Africa and Europe) - Global/Region/Country Forecast to 2027”. Magnetic resonance imaging market was valued USD 7.7 billion in the year 2020 and anticipated to value at USD 11.05 billion till 2027 witnessing a CAGR rate of 5.3% during the forecast period 2021-2027.

Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and --other qualitative sections with an in-depth TOC on “Magnetic Resonance Imaging (MRI) Market By Design (Open MRI Systems, Closed MRI Systems), By Magnetic Field Strengths (Low to mid field strength MRI systems, High field strength MRI systems, Very high field strength MRI systems, Ultra high field strength MRI systems), By Application (Brain and Neurological MRI, Abdominal MRI, Spine and Musculoskeletal MRI, Vascular MRI, Pelvic MRI, Cardiac MRI, Others), By End User (Hospitals, Ambulatory Surgical Centers Diagnostic Centers), and Geography (Latin America, North America, Asia Pacific, Middle East & Africa and Europe) - Global/Region/Country Forecast to 2027”.

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Growing Global Ageing Population is Fuelling the Magnetic Resonance Imaging Market
Magnetic resonance imaging (MRI) works as an efficient non-invasive advanced diagnostic tool used for disorders and illnesses such as central nervous system, soft tissues, spine lesions, tumors and a few other body organs. High-quality images of body organs and tissues are produced through MRI by applying the magnetic field strength. These images give all the information regarding the system of human body. Magnetic field strength decides the quality of the images produced by MRI. High field strength MRI provides clear images rather than other magnetic resonance imaging devices. Getting clear information is possible through images provided by MRI system rather than the images provided by X-ray, ultrasound and computed tomography techniques.

Huge inclination towards non-invasive diagnostic procedures, an array of applications of MRI devices and growing consciousness regarding health in developing and developed countries are the factors driving the Magnetic Resonance Imaging (MRI) Market. There are a few more factors, which are expected to impel the growth of Magnetic Resonance Imaging (MRI) Market such as technological developments like high field strength MRIs, growing global ageing population, and the increasing cases of chronic illnesses like orthopaedic, neurological and cardiovascular disorders. On the other hand, dearth of capable professionals, high price of the diagnostic procedure, growing competition from cost-efficient imaging procedures and the unfavorable repayment policies are anticipated to hamper the market growth over the forecast duration.

Magnetic Resonance Imaging (MRI) Market - Regional Analysis
On the basis of regional analysis, magnetic resonance imaging (MRI) market is categorized into different regions such as Latin America, North America, Middle East, Europe, Africa and Asia Pacific. Well-developed healthcare infrastructure and technological developments in devices are fuelling the North America market. Europe market is witnessing lucrative growth opportunities owing to the increasing healthcare expenditure, growing adoption of novel technologies and increasing consciousness regarding early diagnosis. Growing per capita income, increasing medical tourism in India and China and the availability of huge patient pool are the factors projected to bolster the Asia Pacific market. Increasing number of sports injuries and road accidents are driving the Latin America market.

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Magnetic Resonance Imaging (MRI) Market - Competitor Analysis
There are several key players profiled in the magnetic resonance imaging market such as Hitachi Medical Corporation (Japan), GE Healthcare (U.K.), Koninklijke Philips N.V. (Netherlands), Esaote SpA (Italy), Sanrad Medical Systems Pvt. Ltd (India), Aurora Imaging Technology, Inc. (U.S.) and SUMEC Group Corporation (China).

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