Global Magnetic Resonance Imaging (MRI) Market 2022-2028

Global Magnetic Resonance Imaging Market Size, Share & Trends Analysis Report by Architecture (Closed MRI System and Open MRI Systems), by Application (Cardiology, Oncology, Neurology, Gastroenterology, Musculoskeletal, and Others), by Field Strength (Low-To-Mid-Field MRI Systems, High-Field MRI Systems, and Very-High-Field MRI Systems) Forecast Period 2022-2028

The global magnetic resonance imaging market is growing at a CAGR of 3.8% during the forecast period. The major factors that are augmenting the growth of the market include government policies in emerging countries and the need for accurate MRI systems. Furthermore, rising lifestyle-oriented diseases such as Cancer, CVD, and CHDare the factors that are also estimated to be contributing significantly to the growth of the market. The impact of COVID-19 has played a major role in the field of the market in several countries. However, certain factors are affecting the growth of the market. High-cost treatment and low availability of MRI systems per individual in a few emerging countries are the major constraints that are hindering the growth of the global magnetic resonance imaging market across the globe.

Among architecture, the closed MRI systems category is expected to lead the market due to the increasing prevalence of chronic diseases and the aging population across the globe. The closed MRI refers to a tube-like tunnel, which is the original shape of most of the MRI systems available on the market. By field strength, the high-field MRI systems (1.5t to 3t) category is expected to lead the market during the forecast period. High-field MRI systems fall in the category of high precision and affordability. Wide-bore MRIs of the field strength of 1.5T and more, are gaining popularity. These wide-bore MRI machines offer high-quality images and better diagnostic detail associated with a high field MRI scanner and the comfort of an open MRI scanner.

Based on geography, the magnetic resonance imaging market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia-Pacific is estimated to be the leading region in the global MRI market. Increasing advancement in technologies and patients' concern for their health is also one of the major factors driving the growth of the market in the region. The region is expected to create opportunity in this market as there are favorable government policies to improve healthcare spending along with the advancement in technologies with greater accuracy need. Rising awareness among the people along with the increase in population will further have a significant impact on the market growth as there will be a rise in customer base.

Research Methodology

The market study of the global MRI market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of the market size and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global MRI Market Research and Analysis by Architecture
2. Global MRI Market Research and Analysis by Application
3. Global MRI Market Research and Analysis by Field Strength

OMR Report Covers:

• Comprehensive research methodology of global MRI market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global MRI market.
• Insights about market determinants that are stimulating the global MRI market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.