Surging Chronic Conditions to Supplement Global Magnetic Resonance Imaging (MRI) Systems Market Growth

Inkwood Research anticipates that the Global Magnetic Resonance Imaging (MRI) Systems Market is evaluated to record a CAGR of 5.50% in terms of revenue during the forecasted years of 2021-2028.

"Browse 53 Market Data Tables and 48 Figures spread over 229 Pages, along with an in-depth TOC on the Global Magnetic Resonance Imaging (MRI) Systems Market Forecast 2021-2028."

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Magnetic resonance imaging (MRI) is characterized as a non-invasive imaging technology aiming to produce detailed 3-D (three-dimensional) anatomical images. It is typically used for the detection and diagnosis of diseases, in addition to monitoring further treatment. MRI systems are based on a sophisticated technology that detects changes in the rotational axis direction of protons found in water that constitutes living tissues.

Increasing Prevalence of Chronic Conditions to Augment Market Growth
The four most critical types of chronic diseases entail cardiovascular ailments, chronic respiratory conditions, cancer, and diabetes. The growing prevalence of chronic diseases, as well as the need to comprehend its severity in patients suffering from the same, propels the growth of MRI systems across the world. According to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause of mortality globally, accounting for an estimated 17.9 million deaths every year. Moreover, the incidence of chronic conditions was anticipated to increase by 57% by 2020, thus significantly impacting developing healthcare segment markets.

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Open MRI Systems to be the Leading Architecture
Open MRIs use magnets to take images of the inside of an individual's body. Instead of an enclosed capsule, open MRI systems utilize a magnetic top and bottom, in addition to being open on all four sides. This substantially decreases the risk of claustrophobia and panic attacks, therefore enabling the use of MRI to accurately diagnose conditions. Moreover, in some cases, it is the only alternative for patients. Open MRI systems also cost less than closed MRI systems, particularly in terms of ongoing maintenance as well as upfront costs, since they use a cryogen-free design with permanent magnets. In addition, several open MRI systems with a weight-bearing feature allow technicians to tilt patients and scan them in a standing position instead of lying flat.

Asia-Pacific Captured the Highest Market Share in 2020
The Asia-Pacific offers substantial opportunities for MRI systems. Developing countries like India and China represent the most populous nations across the region and contribute to the rising demand for advanced healthcare facilities such as MRI systems. Moreover, the rising number of older people, in addition to the rapid increase in the incidence of lifestyle risk factors, are set to play an important role in fueling the market growth in the Asia-Pacific.

The global market observes high competition among existing players, including GE Healthcare, Siemens Healthineers, and others. These companies, through substantial investments, attempt to improve and expand their existing portfolio in order to strengthen their market position. Hence, the competition is set to be intense.

Some of the key players operating in the global market are Analogic Corporation, Hologic Inc, Hologic, Inc, etc.

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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.

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