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Global Magnetic Resonance Imaging (MRI) Market: Advanced Technologies and Global Forecast (2011 - 2016)
Markets and Markets, Oct 2011, Pages: 201
The global MRI systems market is being boosted by technological advancements and the increasing number of MRI applications such as identification of multiple sclerosis. The global MRI market is expected to grow from $4,000 million in 2011 to $4,760 million in 2016, at an estimated CAGR of 3.55% from 2011 to 2016. Closed MRI systems commanded the largest share within the MRI market, mainly due to the high clinical value delivered by the systems.
MRI software is required to increase the quality of the MRI image obtained. It helps in plane adjustment, also provides functional MRI images. All the major players such as, GE Healthcare, Siemens, and Philip Healthcare are actively involved in developing software for MRI. There are institutes such as Massachusetts General Hospital; which are also actively involved in MRI software.
The major restraint for MRI market is that MRI equipment involves high installation and maintenance costs. For instance, the systems require radio frequency (RF) shielding, and helium used for cooling the MRI coils also requires replacement every three years, which increases the maintenance cost of MRI equipment. The major factor driving the MRI market from demand side is the growing population in developing nations and the increase in aging population in developed countries.
MRI market has an opportunity to grow in the developing market such as Brazil, Russia, India, and China. With rising focus on healthcare, there is an increasing expenditure on capital equipments. Moreover, with the advent of colored MRI market, identification of cancerous cells is also possible. MRI is also likely to replace Computed Tomography (CT) for coronary angiography.
MR angiography holds the largest market in MRI market by technology. MR angiography is a technique used for imaging of blood vessels and internal organs through magnetic resonance. The technique’s general applications include phase-contrast angiography and time-of-flight angiography. Functional MRI has the second largest share; it is used to map brain areas and to analyze changes in the brain’s blood flow as a response to stimulus. A 1.5T MRI system is generally employed for this purpose. Functional MRI is also being explored for lie detection.
The global market for MRI is highly consolidated with majority of the market being held by a few major players. GE Healthcare (U.K.), Philips (The Netherlands), and Siemens (Germany) together constitute most of the market with Siemens being the market leader. There is an increasing presence of Japanese players such as Toshiba (Japan) and Hitachi (Japan).
Scope of the report
Global MRI Market research report evaluates the global market of Magnetic Resonance Imaging by architecture, by field strength, by technology market, by application and by geography. The report analyzes geography; forecasting revenues, and trends in each of the following submarkets:
The segments covered under the report are
By architecture
- Closed MRI
- Open MRI
By field Strength
- Low field strength MRI
- Mid field strength MRI
- High field strength MRI
By Technology
- MR angiogram
- MR venogram
- Functional MRI
- NMR Spectroscopy
- Others
By Application
- Whole Body MRI
- Interventional MRI
- MRI for Brain and Neurological disorder
- Breast MRI
- Cardiac MRI
- Others
By geography
- North America
- Europe
- Asia
- ROW
Each section provides market data, market drivers, trends and opportunities, top-selling products, key players, and competitive outlook. This report also provides market tables for covering the sub-segments and micro-markets. In addition, it makes ways for company profiles that cover all the sub-segments. As such, the report leaves no stone unturned in apprising about the past, present, and future of global diagnostic imaging market.
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