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Magnetic Resonance Imaging Systems Devices And Equipment Market Report 2024 - 2033 | Insights, Analysis, Key Drivers
Magnetic Resonance Imaging Systems Devices And Equipment Market
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According to The Business Research Company's, The magnetic resonance imaging systems devices and equipment market size has grown strongly in recent years. It will grow from $9.4 billion in 2023 to $10.23 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to diagnostic imaging advancements, aging population, trauma and emergency care, oncology and cancer diagnosis.
The magnetic resonance imaging systems devices and equipment market size is expected to see strong growth in the next few years. It will grow to $13.92 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to emerging markets growth, regulatory support, radiation reduction, value-based healthcare. Major trends in the forecast period include high-field and ultra-high-field mri, cardiac mri, musculoskeletal mri, hybrid imaging.
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Market Drivers and Trends:
Changes in lifestyle, technological advancement, and the increase in the number of chronic diseases are increasing the demand for diagnostics, driving the growth of MRI systems market. Magnetic resonance imaging (MRI) systems are used to produce three-dimensional detailed anatomical images of the human body facilitating diagnosis, disease detection, and treatment monitoring. The rising health concerns are increasing the demand for medical imaging technologies in healthcare centres for diagnosis. For instance, in India, 150,000 health and wellness centres with a budget of $ 1.8 billion enable the healthcare system more accessible. Increasing health consciousness and the importance of health insurance are also causing significant growth in the market.
Companies in the magnetic resonance imaging devices and equipment market are increasingly investing in advanced MRI imaging technologies to enhance their diagnosis and to reduce orders for rescans. The advanced MRI systems such as Multi contract MRI scanners, silent MRI Scanning technologies, and others allow radiologists to modify patient's image contrast after scanning, which is not possible with conventional imaging systems. In December 2021, Fujifilm Healthcare Americas Corporation, a US-based medical technology company, unveiled its new velocity MRI System, an advanced high-field open MRI system. The new product is designed to streamline the workflow and enhance the patient's experience.
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Major Key Players of the Market:
Siemens Healthineers, GE Healthcare, Philips Healthcare, Hitachi Ltd., Canon Medical Systems, Esaote S.p.A, Bruker Corporation, Fonar Corporation, Neusoft Medical Systems Co. Ltd., Time Medical Systems, Aurora Imaging Technology, AllTech Medical Systems, Magnetica, Tomtec Imaging Systems GMBH, Sanrad Medical Systems Pvt. Ltd., Agilent Technologies Inc., Analogic Corporation, Hologic Inc, IMRIS Inc., Innervision Mri, Medinus Co., Medtronic plc, Millennium Technology Inc., Mindray Medical International Ltd., MR Solutions, Toshiba Corporation, Koninklijke Philips N.V., Hyperfine
Magnetic Resonance Imaging Systems Devices And Equipment Market 2024 Key Insights:
• The magnetic resonance imaging systems devices and equipment market size is expected to see strong growth in the next few years. It will grow to $13.92 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
• Rising Demand For Diagnostics Drives Growth In The Mri Systems Market
• Advancements In Mri Technology Transforming The Diagnostic Landscape
• Western Europe was the largest region in the global magnetic resource imaging devices and equipment market in 2023
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