Market Overview:
The global magnetic resonance imaging systems market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The growth in the market can be attributed to the increasing prevalence of chronic diseases, rising geriatric population, and technological advancements in MRI systems. Based on type, the global magnetic resonance imaging systems market is segmented into closed MRI systems and open MRI systems. Closed MRI Systems are further sub-segmented into low-field and high-field closed MRI Systems. Based on application, the global magnetic resonance imaging systemsmarketis segmentedinto brain and neurological MRIs, spine and musculoskeletal MRIs, cardiac MRIs, pelvic and abdominal MRIs breastMRIs . Backed by technological advancements such as 3 Tesla (T) or above for high performance clinical applications such as brain tumor detection or white matter lesions characterization; 4 T for cardiac perfusion studies; 7 T for highest resolution anatomical images; 8 T for ultrahigh field strength body applications etc.
Product Definition:
Magnetic Resonance Imaging (MRI) is a medical imaging technique used to visualize the inside of the body. MRI uses a strong magnetic field and radio waves to create images of organs and tissues in the body. MRI is often used to diagnose medical conditions, including cancer, tumors, and heart disease.
Closed MRI Systems:
MRI systems are classified into open and closed MRI systems. An open MRI system is one in which the magnet generates a strong magnetic field that can penetrate body tissues to obtain detailed images of organs, bones, ligaments and nerves. On the other hand, a closed MRI system does not have a visible opening to allow access to the magnet; instead it has various shielding and protective components that protect sensitive medical equipment from external magnetic fields.
Open MRI Systems:
Open MRI systems are used for Magnetic Resonance Imaging (MRI) scan. These devices have certain advantages over closed MRI systems such as the ability to vary the magnetic field strength and provide real-time image viewing, among others. Open MRI system is a type ofMR machine that allows access to diagnostic procedures without any restrictions on when and how long a patient may be exposed to radiation levels associated with an MR scanner.
Application Insights:
MRI systems are used in the diagnosis of various diseases. The brain and neurological MRI segment dominated the market in 2017 owing to an increase in demand for non-invasive diagnostic solutions for patients suffering from neurological conditions such as stroke or Alzheimer¢â‚¬â„¢s disease. In addition, an increase in research activities pertaining to brain disorders is expected to drive growth during the forecast period.
The spine and musculoskeletal MRI segment is anticipated to witness lucrative growth over the forecast period due to a rise incidences of back pain and fractures at a younger age group globally which has led doctorsto turn towards this imaging technology as it provides accurate diagnosis with minimal risk of radiation exposure.
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of well-established healthcare facilities, availability of highly skilled physicians and advanced diagnostic technologies. Moreover, increasing government initiatives for promoting MRI safety is also expected to drive growth over the forecast period. For instance, in 2014, The American College of Radiology (ACR) established a Safety Committee that focuses on improving patient safety by developing guidelines for safe practice patterns and standards for quality improvement initiatives related to MR imaging procedures and devices used for imaging using magnetic fields generated by magnets.
Asia Pacific is anticipated to witness lucrative growth during the forecast period owing to rising medical tourism coupled with an increase in healthcare expenditure by various governments as well as private organizations such as WHO & UNICEF (World Health Organization & United Nations Children’s Fund). In addition, growing awareness regarding early diagnosis among patients will further propel demand during the projected time frame.
Growth Factors:
- Increasing demand for minimally invasive surgeries: Magnetic Resonance Imaging Systems are used to obtain images of the body's interior without having to make a large incision. This makes them ideal for use in minimally invasive surgeries, which are becoming increasingly popular due to the shorter recovery times they offer patients.
- Advances in medical imaging technology: Magnetic Resonance Imaging Systems are constantly evolving, thanks to advances in medical imaging technology. This means that healthcare professionals can now use these systems to obtain more accurate and detailed images of the body than ever before.
- Growing number of MRI centers: The number of MRI centers is growing rapidly, as more and more people become aware of the benefits that Magnetic Resonance Imaging Systems offer over other types of diagnostic imaging technologies such as CT scans and X-rays. As a result, this is driving demand for MRI systems worldwide.
Scope Of The Report
Report Attributes
Report Details
Report Title
Magnetic Resonance Imaging Systems Market Research Report
By Type
Closed MRI Systems, Open MRI Systems
By Application
Brain and Neurological MRI, Spine and Musculoskeletal MRI, Cardiac MRI, Pelvic and Abdominal MRI, Breast MRI
By Companies
Aurora Imaging Technology, Esaote, Fonar Corporation, GE Healthcare, Hitachi Medical Corporation, IMRIS, Neusoft Medical Systems, Philips Healthcare, Siemens Healthcare, Canon Medical Systems
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
141
Number of Tables & Figures
99
Customization Available
Yes, the report can be customized as per your need.
Global Magnetic Resonance Imaging Systems Market Report Segments:
The global Magnetic Resonance Imaging Systems market is segmented on the basis of:
Types
Closed MRI Systems, Open MRI Systems
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
Brain and Neurological MRI, Spine and Musculoskeletal MRI, Cardiac MRI, Pelvic and Abdominal MRI, Breast MRI
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:
- Aurora Imaging Technology
- Esaote
- Fonar Corporation
- GE Healthcare
- Hitachi Medical Corporation
- IMRIS
- Neusoft Medical Systems
- Philips Healthcare
- Siemens Healthcare
- Canon Medical Systems
Highlights of The Magnetic Resonance Imaging Systems 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:
- Closed MRI Systems
- Open MRI Systems
- By Application:
- Brain and Neurological MRI
- Spine and Musculoskeletal MRI
- Cardiac MRI
- Pelvic and Abdominal MRI
- Breast MRI
- 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 Systems 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:
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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) is a medical procedure that uses powerful magnets and radio waves to create detailed images of the body. MRI scans can show problems in the brain, spine, heart, and other organs.
Some of the major players in the magnetic resonance imaging systems market are Aurora Imaging Technology, Esaote, Fonar Corporation, GE Healthcare, Hitachi Medical Corporation, IMRIS, Neusoft Medical Systems, Philips Healthcare, Siemens Healthcare, Canon Medical Systems.
The magnetic resonance imaging systems market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Magnetic Resonance Imaging Systems 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 Systems Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Magnetic Resonance Imaging Systems 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 Systems 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 Systems Market Size & Forecast, 2018-2028
4.5.1 Magnetic Resonance Imaging Systems Market Size and Y-o-Y Growth
4.5.2 Magnetic Resonance Imaging Systems Market Absolute $ Opportunity
Chapter 5 Global Magnetic Resonance Imaging Systems 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 Magnetic Resonance Imaging Systems Market Size Forecast by Type
5.2.1 Closed MRI Systems
5.2.2 Open MRI Systems
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Magnetic Resonance Imaging Systems 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 Magnetic Resonance Imaging Systems Market Size Forecast by Applications
6.2.1 Brain and Neurological MRI
6.2.2 Spine and Musculoskeletal MRI
6.2.3 Cardiac MRI
6.2.4 Pelvic and Abdominal MRI
6.2.5 Breast MRI
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Magnetic Resonance Imaging Systems 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 Systems 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 Magnetic Resonance Imaging Systems Analysis and Forecast
9.1 Introduction
9.2 North America Magnetic Resonance Imaging Systems 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 Magnetic Resonance Imaging Systems Market Size Forecast by Type
9.6.1 Closed MRI Systems
9.6.2 Open MRI Systems
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 Magnetic Resonance Imaging Systems Market Size Forecast by Applications
9.10.1 Brain and Neurological MRI
9.10.2 Spine and Musculoskeletal MRI
9.10.3 Cardiac MRI
9.10.4 Pelvic and Abdominal MRI
9.10.5 Breast MRI
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 Magnetic Resonance Imaging Systems Analysis and Forecast
10.1 Introduction
10.2 Europe Magnetic Resonance Imaging Systems 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 Magnetic Resonance Imaging Systems Market Size Forecast by Type
10.6.1 Closed MRI Systems
10.6.2 Open MRI Systems
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 Magnetic Resonance Imaging Systems Market Size Forecast by Applications
10.10.1 Brain and Neurological MRI
10.10.2 Spine and Musculoskeletal MRI
10.10.3 Cardiac MRI
10.10.4 Pelvic and Abdominal MRI
10.10.5 Breast MRI
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 Magnetic Resonance Imaging Systems Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Magnetic Resonance Imaging Systems 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 Magnetic Resonance Imaging Systems Market Size Forecast by Type
11.6.1 Closed MRI Systems
11.6.2 Open MRI Systems
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 Magnetic Resonance Imaging Systems Market Size Forecast by Applications
11.10.1 Brain and Neurological MRI
11.10.2 Spine and Musculoskeletal MRI
11.10.3 Cardiac MRI
11.10.4 Pelvic and Abdominal MRI
11.10.5 Breast MRI
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 Magnetic Resonance Imaging Systems Analysis and Forecast
12.1 Introduction
12.2 Latin America Magnetic Resonance Imaging Systems 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 Magnetic Resonance Imaging Systems Market Size Forecast by Type
12.6.1 Closed MRI Systems
12.6.2 Open MRI Systems
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 Magnetic Resonance Imaging Systems Market Size Forecast by Applications
12.10.1 Brain and Neurological MRI
12.10.2 Spine and Musculoskeletal MRI
12.10.3 Cardiac MRI
12.10.4 Pelvic and Abdominal MRI
12.10.5 Breast MRI
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) Magnetic Resonance Imaging Systems Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Magnetic Resonance Imaging Systems 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) Magnetic Resonance Imaging Systems Market Size Forecast by Type
13.6.1 Closed MRI Systems
13.6.2 Open MRI Systems
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) Magnetic Resonance Imaging Systems Market Size Forecast by Applications
13.10.1 Brain and Neurological MRI
13.10.2 Spine and Musculoskeletal MRI
13.10.3 Cardiac MRI
13.10.4 Pelvic and Abdominal MRI
13.10.5 Breast MRI
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 Systems Market: Competitive Dashboard
14.2 Global Magnetic Resonance Imaging Systems Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Aurora Imaging Technology
14.3.2 Esaote
14.3.3 Fonar Corporation
14.3.4 GE Healthcare
14.3.5 Hitachi Medical Corporation
14.3.6 IMRIS
14.3.7 Neusoft Medical Systems
14.3.8 Philips Healthcare
14.3.9 Siemens Healthcare
14.3.10 Canon Medical Systems
