Magnetic Resonance Imaging Scanners- Global Analysis And Market Forecasts

Magnetic Resonance Imaging (MRI) also known by several other terminologies such as magnetic resonance tomography (MRT) and consists of devices that allow the non-invasive investigation of anatomies and functions of the body through the technique of radiology. The major advantage of MRI systems over other modalities is the absence of ionizing radiation during the imaging process. Approximately 84.4 million MRI procedures were performed across the world in 2015 and diagnostics for brain disorders and tumors lead with 23.8 million procedures. This report by SA-BRC encompasses the market analysis for MRI systems by configuration, magnetic field strength or imaging resolution and geography.

According to the latest research “Global Magnetic Resonance Imaging Scanners Market Assessment & Forecast 2015 - 2019” by SA-BRC, the global MRI technologies market was valued at US$ 6005.8 million in 2014. The market is forecast to reach a value of US$ 8,113.2 million by 2019 with a CAGR of 6.2% from 2015 to 2019.

The report focuses on two major device configurations; open and closed MRI. Technological advancements in the MRI systems market are expected to drive its growth in the coming years. Advent of open upright MRI scanners by companies such as Fonar Corporation allows patient to sit or stand in the MRI scanner, and hence, increase patient comfort while scanning. Extremely powerful imagers with 3T or greater field strength magnets in MRI have also introduced very high clarity of image players. Such developments have significantly boosted the market for open MRI systems.

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In terms of imaging resolution or the field strength of the magnet, the market is divided into low-field, mid-field, high-field and ultra-high field MRI systems. The low-field MRI scanners typically have superconducting magnet with field strength between 0.1T to 0.5T. It is expected that as costs erode in the future and software technology is developed that brings 3T systems at par with the image quality of 5T or the research approved 7T system. North America has the highest number of MRI procedures carried out across the world. Strong supportive reimbursement has pushed imaging along with other drivers such as mobile MRI installations. . It is the largest market for MRI systems with a share of over 33.96% in 2014 and is driven by demand from total body MRI scans and extremity MRI devices.

GE Healthcare, Siemens Healthcare, Philips Healthcare and Toshiba Medical Systems dominated the MRI systems market with a combined market share of around 86.3%. Other important players in the MRI systems market include Hitachi Medical Systems, Esaote S.p.A, Fonar Corporation and IMRIS among other smaller players.

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