Magnetic Resonance Imaging (MRI) Market is expected to grow at a CAGR of 5.4% during the forecast period of 2020-2030
Modernization of the healthcare infrastructure and technological developments in MRI techniques such as open architecture, high field MRI and superconducting (SC) magnets are the factors driving the magnetic resonance market growth.
The Magnetic Resonance Imaging (MRI) Market is expected to grow at a CAGR of 5.4% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
MRI is used for identify diseases related to tumors, spine lesions, and stroke affecting the area of blood vessels and brain. It provides high dimensional picture of the soft tissues and organs of the human body. MRI is less harmful as it does not use ionizing radiation and therefore, it is the most preferred diagnosis technology by the doctors. The magnetic resonance imaging market growth is gaining momentum due to the surge in diseases such as trauma, cancer and cardiac arrest. Also, factors such as growing demand of advanced equipment to provide better healthcare and rising demand for accurate diagnosis are driving the market growth. However, high installation cost of MRI devices and limited reimbursements are factors expected to hamper the growth of the magnetic resonance imaging market to some extent.
Based on product type, the market is segmented into open MRI and close MRI. On the basis of field strength, the market is divided into high field system, medium field system and low field system. On the basis of application, the market is categorized into brain and neurological, spine and musculoskeletal, vascular, abdominal, cardiac, breast, and others. Based on enduser, the market is bifurcated into hospitals, imaging centers, ambulatory surgical centers, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographically, North America holds the lion share of the magnetic resonance imaging market. This is attributed to the factors such as introduction of hybrid MRI systems in this region and higher healthcare expenditure. Europe is holding the second-largest share of the market due to growing demand of advanced diagnostic devices and increasing geriatric population.
However, Asia Pacific is expected to show fastest growth in terms of market share owing to rapid expansion of healthcare industry, increasing awareness about the benefits of early diagnosis and availability of low-cost healthcare services.
According to the report, the key players of the market are GE Healthcare, Siemens Healthcare, Philips Healthcare, Hitachi Medical Corporation, Toshiba Medical Systems Corporation, Shimadzu Corp, Carestream Health, Hologic, Barco and Nordion Inc.
Browse key industry insight from the report, “Magnetic Resonance Imaging (MRI) Market by Product Type (Open MRI and Close MRI), and by Field Strength (High field system, Medium field system and Low Field System)- Global Opportunity Analysis and Industry Forecast, 2020 – 2030.”
Key Insights from the Magnetic Resonance Imaging (MRI) Market Report:
Current emerging trends and opportunities are extensively analysed in magnetic resonance imaging market report.
The forecast of the magnetic resonance imaging market comes along with additional information associated with opportunities, restrains and key drivers in the market.
The report magnetic resonance imaging market- segmented by product type, field strength, application, enduser and geography.
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