However, declining restitution rates for MRI procedures and scarcity of helium gas deposits obstruct the growth of this market, which acts as restraint. In 2015, the global MRI market was accounted for $4,981 million and is expected to grow at the CAGR of 3.81% during the analysis period.
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Increasing diseases such as brain tumors, breast cancers, prostate cancers, scoliosis and sclerosis enhances the demand of MRI Market which acts as major drivers of the MRI market. Technology growth such as superconducting (SC) magnets, open architecture, high-field MRI, and software applications also drive this market.
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The market is segmented based on architecture, magnetic field strength, application, end users, and geography. Based on architecture, the market is segmented into open MR and Close MRI.
According to field strength, the market is classified into low, mid, high, very high, and ultra-high field system. Based on application, the market is classified into ultra-Brain MRI, Spine MRI, Organ MRI, and Extremities.
Based on end users the market is divided into clinics, hospitals and diagnostic centers.
By geography and by detailed analysis of each of earlier discussed segments is included for North America (U.S., Mexico and Canada), Europe (U.K., France, Russia, Germany, Italy and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, Taiwan and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
In future technological advancement will likely to create new opportunities during the forecast period. For example, Fonar Corporation, a U.S.
based company, has developed a new Radio Frequency (RF) receiver and scanning protocol that allows scoliosis patients to get diagnostic pictures of their spines without the risks of x-rays.
GE Healthcare, Siemens Healthcare, Philips Healthcare, Hitachi Medical Corporation, and Toshiba Medical Systems Corporation play key role in the market of MRI technology.
KEY BENEFITS FOR STAKEHOLDERS
- In-depth analysis of the market is based on market estimations of key segments for the period of 2014‐2022.
- Comprehensive analyses of market dynamics, such as drivers, restraints, and opportunities impacting the market growth are provided in the report.
- Exhaustive analysis of the market segments helps understand the prospects of MRI system and variants in the future.
- Competitive intelligence of leading manufacturers and distributors of MRI System market helps understand the competitive scenario of geographies.
- The profiles and strategies of key market players are provided in the report to understand the competitive outlook of the global market.
KEY MARKET SEGMENTATION
BY ARCHITECTURE TYPE
- Open MRI
- Closed MRI
BY FIELD STRENGTH
- Low field
- Medium field
- High field
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