MRI systems market to grow at a CAGR of 6.65% during the period 2017-2021

Market Research analysts forecast the global MRI systems market to grow at a CAGR of 6.65% during the period 2017-2021.

According to the report, MRI systems have become the most preferred diagnostic imaging method to scan the various areas of the brain for detecting conditions such as brain tumors, spine lesions, anomalies of blood vessels, and stroke affected areas of the brain. Vendors are focusing on the advances in technology of MRI systems to improve the field strength to provide a better signal, improve the quality of the image, and improve the output. For instance, a 3-tesla unit is twice as good as a 1.5 tesla unit, with respect to image quality and scan timing, and it obviates the need for a second system. For instance, Ningbo Jansen NMR Technology is the manufacturer of open MRI units with SC magnets. There are different types of MRI systems available with SC magnets such as 0.5T and 0.7T by the vendor. Companies such as Supercon manufacture superconducting coils for MRI units with SC magnets. There are other advancements in the field of medical imaging such as the use of superconducting magnets for MRI systems. The recent technology of superconducting and cryogenic can be combined, which can help in meeting the growing demand for high-field strength MRI systems. The development of superconducting magnets helps in increasing the magnetic field strength of MRI systems. These are widely used in different science research, health, industrial, and energy applications. The future of MRI systems is the use of superconducting magnets in the development of strong magnetic field MRI systems.

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Further, the report states that clinics and diagnostic centers with low budgets are buying used and refurbished MRI systems. The sales of refurbished MRI systems are hampering the sales of new MRI systems. Many local vendors are exporting and importing used and refurbished MRI systems. Also, used and refurbished MRI systems are usually available at half the price of new ones, and the vendors also provide a warranty period of a couple of years. In addition, customers have low awareness about the availability of low cost refurbished systems. Also, customers trust local companies to provide better after-sales support, which compels the large vendors to scale down the prices of their MRI systems. There are developing countries such as India and China where refurbished systems sales are higher than the sales of new MRI systems.

About MRI Systems

Magnetic resonance imaging (MRI) is an imaging technique that creates detailed images of the organs and tissues in the body with the help of a magnetic field and radio waves. The technique does not use ionizing radiation either for the diagnosis or the study of brain function or growth of cancer. MRI is used for a variety of clinical applications such as neurology, cardiology, oncology, musculoskeletal, and orthopedics. Hence, MRI helps in the diagnosis and treatment of several conditions.

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Covered in this report

The report covers the present scenario and the growth prospects of the global MRI systems market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of MRI systems.

The market is divided into the following segments based on geography:
Americas
APAC
EMEA

Global MRI Systems Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
GE Healthcare
Philips Healthcare
Siemens Healthineers
Toshiba Medical Systems

Other prominent vendors
Advanced Imaging Research
Biophan Technologies
Bruker
Esaote
Fonar
Hitachi Medical Systems
Mindray
Neusoft
Ningbo Jansen NMR Technology

Market driver
Development of superconducting (SC) magnets
For a full, detailed list, view our report

Market challenge
Competition from other imaging modalities
For a full, detailed list, view our report

Market trend
Growing focus on development of PET/MRI hybrid imaging systems
For a full, detailed list, view our report

Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

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