Market Overview:
MRI equipment is extensively used to diagnose and treat medical conditions. The global MRI equipment market is expected to grow at a CAGR of 5.8% during the forecast period 2018-2030. The growth in this market can be attributed to the increasing prevalence of chronic diseases, rising geriatric population, and technological advancements in MRI equipment. The global MRI equipment market can be segmented on the basis of type, application, and region. On the basis of type, the market can be divided into extremity MRI, open MRI, and closed MRI. Closed MRIs are more common than open MRIs due to their lower cost and smaller size; however, open MRIs offer superior image quality as they have a larger field of view (FOV). On the basis of application, hospitals accounted for majority share in 2017 owing to increasing number of diagnostic procedures performed in hospitals across the globe.
 Equipment Industry Outlook.svg)
Product Definition:
MRI equipment is used to measure the magnetic fields produced by protons in the body. These measurements can be used to create images of the inside of the body. MRI is important because it can be used to non-invasively diagnose diseases and conditions inside the body.
Extremity MRI:
Extremity MRI is a type of MRI that involves the use of powerful magnetic fields and radio waves to provide detailed images of body parts. The technology was first introduced in the U.S., by an American company named Envision TMS in 2001, which was later acquired by Siemens Healthineers in 2008, and rebranded as MagnetomTek. Since then, it has been adopted by many other countries such as Japan (Neuromagnetics Inc.
Open MRI:
Open MRI is a type of MRI that allows the operator to view the inside of the body. Open MRI systems are used for diagnosing various medical conditions, including brain tumors and infections. The technology is gaining popularity due to its ability to provide detailed images of soft tissues in comparison with closed or semi-open systems.
Advantages: It provides better access.
Application Insights:
MRI equipment is used in hospitals, clinics and other settings. Hospitals were the largest application segment of the market in 2017 owing to increasing adoption for clinical applications. MRI offers superior contrast medium for cardiac, neurologic & orthopedic imaging which helps detect acute injuries or conditions such as spinal cord compression or herniated disc at an early stage. It also has a higher sensitivity than computerized tomography (CT) scan and allows better delineation of small lesions that are difficult to see on CT scan such as tumor embolization or infarction due to its enhanced resolution. These advantages have led to an increased adoption rate of MRI scanners in hospitals across the world.
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of well-established healthcare infrastructure, high adoption rate of advanced technology, and increasing demand for diagnostic procedures. Moreover, favorable reimbursement policies are also expected to drive growth during the forecast period.
The Asia Pacific is expected to witness lucrative growth over the forecast period owing to rising geriatric population and improving economic conditions in emerging countries such as India and China. In addition, a large number of patients suffering from chronic diseases such as cardiovascular diseases (CVDs) or diabetes are anticipated to boost demand for MRI scans over the next eight years.
Major players operating in this industry include Siemens Financial Services Inc.
Growth Factors:
- Increasing demand for MRI equipment due to rising prevalence of chronic diseases such as cancer, Alzheimer's disease, and heart diseases.
- Growing number of MRI centers across the globe due to increasing awareness about the benefits of early diagnosis and treatment through MRI scans.
- Technological advancements in MRI equipment that offer high-resolution images with reduced scan time.
- Rising healthcare expenditure by governments and private players that is aiding in the growth of the MRI market worldwide .
Scope Of The Report
Report Attributes
Report Details
Report Title
Magnetic Resonance Imaging (MRI) Equipment Market Research Report
By Type
Extremity MRI, Open MRI, Closed MRI
By Application
Hospitals, Clinics, Other
By Companies
Siemens, Philips, GE Healthcare, Toshiba, Hitachi, ESAOTE, SciMedix, Paramed, Neusoft, Xingaoyi, Siemens, Huarun Wandong, Alltech
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
154
Number of Tables & Figures
108
Customization Available
Yes, the report can be customized as per your need.
Global Magnetic Resonance Imaging (MRI) Equipment Market Report Segments:
The global Magnetic Resonance Imaging (MRI) Equipment market is segmented on the basis of:
Types
Extremity MRI, Open MRI, Closed MRI
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals, Clinics, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Siemens
- Philips
- GE Healthcare
- Toshiba
- Hitachi
- ESAOTE
- SciMedix
- Paramed
- Neusoft
- Xingaoyi
- Siemens
- Huarun Wandong
- Alltech
 Equipment Market Overview.svg)
Highlights of The Magnetic Resonance Imaging (MRI) Equipment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Extremity MRI
- Open MRI
- Closed MRI
- By Application:
- Hospitals
- Clinics
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Magnetic Resonance Imaging (MRI) Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 Equipment Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Magnetic Resonance Imaging (MRI) equipment uses a powerful magnetic field and radio waves to create detailed images of the body. MRI is used to diagnose medical conditions, such as tumors, injuries, and abnormalities in the brain and spine.
Some of the key players operating in the magnetic resonance imaging (mri) equipment market are Siemens, Philips, GE Healthcare, Toshiba, Hitachi, ESAOTE, SciMedix, Paramed, Neusoft, Xingaoyi, Siemens, Huarun Wandong, Alltech.
The magnetic resonance imaging (mri) equipment market is expected to grow at a compound annual growth rate of 5.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Magnetic Resonance Imaging (MRI) Equipment Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Magnetic Resonance Imaging (MRI) Equipment Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Magnetic Resonance Imaging (MRI) Equipment Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Magnetic Resonance Imaging (MRI) Equipment Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Magnetic Resonance Imaging (MRI) Equipment Market Size & Forecast, 2020-2028
4.5.1 Magnetic Resonance Imaging (MRI) Equipment Market Size and Y-o-Y Growth
4.5.2 Magnetic Resonance Imaging (MRI) Equipment Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Extremity MRI
5.2.2 Open MRI
5.2.3 Closed MRI
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospitals
6.2.2 Clinics
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Magnetic Resonance Imaging (MRI) Equipment Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Magnetic Resonance Imaging (MRI) Equipment Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Extremity MRI
9.6.2 Open MRI
9.6.3 Closed MRI
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospitals
9.10.2 Clinics
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Extremity MRI
10.6.2 Open MRI
10.6.3 Closed MRI
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospitals
10.10.2 Clinics
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Extremity MRI
11.6.2 Open MRI
11.6.3 Closed MRI
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospitals
11.10.2 Clinics
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Extremity MRI
12.6.2 Open MRI
12.6.3 Closed MRI
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospitals
12.10.2 Clinics
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Extremity MRI
13.6.2 Open MRI
13.6.3 Closed MRI
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospitals
13.10.2 Clinics
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Magnetic Resonance Imaging (MRI) Equipment Market: Competitive Dashboard
14.2 Global Magnetic Resonance Imaging (MRI) Equipment Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Siemens
14.3.2 Philips
14.3.3 GE Healthcare
14.3.4 Toshiba
14.3.5 Hitachi
14.3.6 ESAOTE
14.3.7 SciMedix
14.3.8 Paramed
14.3.9 Neusoft
14.3.10 Xingaoyi
14.3.11 Siemens
14.3.12 Huarun Wandong
14.3.13 Alltech
