Magnetic Resonance Imaging (MRI) Market would rise to USD 498.91 million by 2030

A wide ranging Magnetic Resonance Imaging (MRI) market report has been designed by keeping in mind the customer requirements which assist them in increasing their return on investment (ROI). This business report describes CAGR (compound annual growth rate) values and its fluctuations for the specific forecast period. This report also endows with the information, statistics, facts and figures which are very helpful for the companies to maximize or minimize the production of goods depending on the states of demand. Magnetic Resonance Imaging (MRI) market research report is formulated with the most excellent and superior tools of collecting, recording, estimating and analysing market data of Healthcare industry.
Data Bridge Market Research analyses that the magnetic resonance imaging (MRI) market, which was USD 283.94 million in 2022, would rise to USD 498.91 million by 2030 and is expected to undergo a CAGR of 7.30% during the forecast period from 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Drivers

Increasing Awareness About the Health Concerns
The increasing health concerns are surging the demand for medical imaging technologies in different healthcare centers for diagnosis. For instance, 150,000 health and wellness centers with a budget of $ 1.8 billion allow the healthcare system to be more available in India. Also, growing health consciousness and the importance of health insurance are leading to major market growth. Thus, this factor boosts market growth.

Increasing Technological Advancements by Market Players
Several advanced MRI machines such as multi-contract MRI scanners, silent MRI scanning technologies, and others let radiologists modify patients' image contrast post scanning, which is impossible with conventional imaging systems. For instance, Fujifilm Healthcare Americas Corporation, a U.S.-based medical technology company, launched its new velocity MRI System, an advanced high-field open MRI system, in 2021. The new product is designed to ease the workflow and improve the patient's experience. Thus, this factor enhances the market growth.

Opportunities

Growing Adoption of Multimodality Imaging
Multimodality imaging plays an important role, mainly after introducing integrated positron emission tomography/computed tomography (PET/CT) and commercializing combined PET/magnetic resonance imaging (PET/MRI) systems. For instance, as per the research study published in BRJ Journal in 2021, simultaneous PET-MRI scanning and a single image reconstruction framework allow the comprehensive assessment of cardiovascular disease with enhanced PET image quality. It could considerably improve the diagnosis of heart diseases. Therefore, this factor boosts the market growth.

Increasing Research on Cancer Radiation Therapy
The growing research for cancer radiation therapy enhances the market segment's growth. For instance, ViewRay Inc. launched a phase III randomized controlled trial titled "Locally Advanced Pancreatic cancer treated with ABLAtivE stereotactic MRI-guided adaptive radiation therapy" for patients receiving a combination of chemotherapy and 5-fraction MRIdian SMART in 2022. The study shows superior overall survival in patients receiving post-chemotherapy MRIdian SMART. Thus, this factor boosts the market's growing rapidly.

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Global Magnetic Resonance Imaging (MRI) Market Scope
The magnetic resonance imaging (MRI) market is segmented on the basis of type, process, field strength, architecture, application, and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

Conventional
Bio-based
Process

Trans-Esterification
Direct Esterification
Field Strength

High-Field Magnetic Resonance Imaging (MRI) Systems (1.5t to 3t)
Low-To-Mid-Field Magnetic Resonance Imaging (MRI) Systems (

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