The MRI systems market is expected to reach USD 7.09 billion by 2023 from an estimated USD 5.85 billion in 2018, at a CAGR of 3.9%. The key factors driving the growth of this market include, rising awareness about the benefits of early diagnosis, technological advancements leading to the replacement of low-field MRI systems with high-field MRI systems, and discovery of new helium deposits.
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Global Magnetic Resonance Imaging Systems Market segmented by architecture, field strength, and region. Based on architecture, MRI systems market segmented into closed & open MRI systems.
Closed MRI systems segment further divided into standard bore & wide bore MRI systems.
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In 2017, closed MRI systems segment accounted for the largest share of MRI system market. Large share of this segment is attributed to high-field strength of these systems enabling higher image quality and throughput.
- Diagnostic centers
- Research institutes
- Academic institutes
- Medical device suppliers
- Market research and consulting firms
Geographically, Asia Pacific dominated the market in 2017 with the highest market share in the MRI system market. The largest share of this regional segment is attributed to increasing FDI enabling local and foreign MRI manufacturers to invest in this region, rising disposable incomes, and rising demand for high-field MRI systems in APAC countries.
RoW is expected to grow at highest CAGR during the forecast period. Untapped markets in Latin America and MEA is the key driver of regional segment.
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MRI systems market is segmented into high-field, low-to-mid-field, and very-high-field MRI systems. The high-field MRI systems held the largest share in this market in 2017.
The large share of these systems can be attributed to the replacement of low-field MRI systems with high-field MRI systems, owing to their high throughput and better image quality.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1–37%, Tier 2–30% and Tier 3–33%
- By Designation – C-level–48%, Director Level–34%, Others–18%
- By Region – North America–45%, Europe–35%, Asia Pacific–12%, RoW–8%
The global MRI systems market is segmented into closed MRI systems, and open MRI systems. The closed MRI systems segment is further segmented into a standard bore MRI systems and wide bore MRI systems.
In 2017, the wide-bore closed MRI systems segment is expected to grow at the fastest CAGR as these systems accommodate large/obese patients as well.
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The report analyzes the MRI systems market and aims at estimating themarket size and future growth potential of this market based on various aspects such asfield strength, architecture, and region. The report also includes the competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
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