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Recent research: Magnetic resonance imaging (MRI) market forecast to 2024

The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Global Magnetic Resonance Imaging (MRI) Market – By Architecture (Closed MRI System, Open MRI System), By Field Strength (Low Field MRI System (1.5T), High Field MRI System (1.5T MRI System, 3T MRI System), Very High Field MRI System (4T to 6T), Ultra High Field MRI System (>7T), By Application (Brain & Neurological, Spine & Musculoskeletal, Vascular, Pelvic and Abdominal, Breast, Cardiac and Others), By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024

Market Analysis: Global Magnetic Resonance Imaging (MRI) Market

The magnetic resonance imaging devices market accounted to USD 6.1 billion in 2016 growing at a CAGR of 5.5% during the forecast period of 2017 to 2024. 

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Major market drivers and restraints:

  • Increasing incidences of chronic diseases
  • Increasing awareness and importance for minimally invasive surgical procedures
  • Growing applications in neurology and cancer screening tests
  • Inadequate Reimbursement Policies
  • High costs for MRI examinations
  • Increased competition from cost-effective imaging modules

Market Segmentation: Global Magnetic Resonance Imaging (MRI) Market

By architecture the market for magnetic resonance imaging devices is segmented into closed MRI system, open MRI system.

 By field strength the magnetic resonance imaging devices market is segmented into low field MRI system (1.5T), high field MRI system, very high field MRI system (4T to 6T), ultra high field MRI system (>7T). High Field MRI system is further segmented into 1.5T MRI system, 3T MRI system.

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On the basis of end-users the magnetic resonance imaging devices market is segmented into brain & neurological, spine & musculoskeletal, vascular, pelvic and abdominal, breast, cardiac and others.

On the basis of geography, magnetic resonance imaging (MRI) devices market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.

In 2017, North America is expected to dominate the market.

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Competitive Analysis: Global Magnetic Resonance Imaging (MRI) Market

The magnetic resonance imaging (MRI) devices market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.

The report includes market shares of magnetic resonance imaging (MRI) devices market for global, Europe, North America, Asia Pacific and South America.

Major Market Competitors: Global Magnetic Resonance Imaging (MRI) Market

Some of the major players operating in magnetic resonance imaging (MRI) devices market are Hitachi Ltd., Siemens Healthcare, Toshiba Medical Systems Corporation, GE Healthcare, Philips Healthcare, Bruker Corporation, Aurora Imaging Technology, Inc., Esaote S.P.A, Fonar Corporation, Neusoft Medical Systems Co., Ltd. among others

Research Methodology: Global Magnetic Resonance Imaging (MRI) Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models.

Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or drop down your enquiry.

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