Press release
Mri Market Size to Expand at a CAGR of 6 % in the Forecast Period of 2024-2030
Mri Market
MRI Market was valued at USD 6.30 Bn in 2023 and is expected to reach USD 9.47 Bn by 2030, at a CAGR of 6 % during the forecast period. MRI technology has become indispensable in modern diagnostics, offering detailed images of internal body structures without the use of ionizing radiation. Its applications span across detecting brain and spinal cord anomalies, musculoskeletal issues, tumors, and internal injuries. The global surge in chronic diseases and a growing geriatric population have amplified the demand for advanced imaging solutions like MRI.
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Mri Market Market Dynamics
Several factors are propelling the MRI market forward:
Technological Innovations: Continuous enhancements in MRI systems, such as higher field strengths and advanced coil designs, have improved image quality and reduced scan durations, leading to increased patient comfort.
Rising Chronic Disease Prevalence: The escalating incidence of conditions like cardiovascular diseases and neurological disorders necessitates precise diagnostic tools, bolstering MRI adoption.
Non-Invasive Diagnostic Preference: A shift towards non-invasive diagnostic methods has made MRI a preferred choice among healthcare professionals and patients alike.
Mri Market Outlook and Future Trends :
The future of the MRI market appears promising, with trends indicating:
Integration of Artificial Intelligence (AI): The incorporation of AI in MRI systems is expected to enhance diagnostic accuracy and streamline imaging processes.
Portable MRI Solutions: The development of mobile and point-of-care MRI devices aims to increase accessibility, especially in remote areas.
Focus on Patient Comfort: Innovations like open MRI systems cater to claustrophobic and pediatric patients, improving the overall patient experience.
Mri Market Key Recent Developments
The MRI market has witnessed notable mergers and acquisitions across various regions:
Vietnam & Thailand: Healthcare sectors in these countries are experiencing growth, leading to increased investments in advanced imaging technologies.
Japan: Japanese companies are at the forefront of MRI innovation, focusing on AI-based imaging solutions to cater to an aging population.
South Korea: The nation is witnessing collaborations between domestic and international firms to enhance MRI technology adoption.
Singapore: As a medical hub, Singapore is investing in state-of-the-art MRI systems to serve both local and international patients.
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Mri Market Segmentation
by Technology
Closed MRI Systems
Open MRI Systems
Wide-bore MRI Systems
by Field Strength
Low-field MRI (Less than 1.0 Tesla)
Mid-field MRI (1.0 Tesla to 3.0 Tesla)
High-field MRI (Greater than 3.0 Tesla)
by Application
Neurology
Orthopedics
Cardiology
Oncology
Imaging
Pediatrics
Some of the current players in the Mri Market are:
North America:
1. GE Healthcare (United States)
1. Siemens Healthineers AG (United States)
2. Philips Healthcare (United States)
3. Canon Medical Systems Corporation (United States)
4. Hitachi Medical Corporation (United States)
5. Smart Scan Medical Imaging, LLC (Florida)
Europe:
6. Aspect Imaging (Israel)
7. DMS Group (Brazil)
8. Esaote SpA (Italy)
9. Bracco Imaging S.p.A. (Italy)
Asia-Pacific:
10. Neusoft Medical Systems Co., Ltd. (China)
11. United Imaging Healthcare Co., Ltd. (China)
12. Mindray Medical International Limited (China)
13. Hologic, Inc. (Australia)
14. Toshiba Medical Systems Corporation (Japan)
15. Medison Co., Ltd. (South Korea)
Mri Market Conclusion:
The global MRI market is set for substantial growth, driven by technological advancements and an increasing need for non-invasive diagnostic tools. As healthcare infrastructures evolve and patient-centric innovations emerge, MRI technology will continue to play a pivotal role in enhancing diagnostic accuracy and patient outcomes worldwide.
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