Global Magnetic Resonance Imaging Systems (MRI) Market - Forecasts from 2019 to 2024

Magnetic resonance imaging (MRI) systems are used for the medical imaging purposes which help in the diagnosis and monitoring the treatment of various conditions. The scanners in the MRI system make use of strong magnetic fields and the radiofrequency energy in order to make digital images of the required different parts of the body. The market growth is attributed to the rapidly increasing geriatric population and growing incidence of chronic diseases which require an early diagnosis for proper treatment. Rising number of accidents leading to complicated musculoskeletal and spinal injuries have further increased the demand for advanced MRI systems for better and error-free imaging. Technological advancements, owing to the increasing investments in research and development, are leading to significant improvements in digitalized MRI machines, thus increasing their adoption on the basis of its applications.

Competitive landscape of MRI systems is promoting investments in the magnetic resonance imaging systems market. This is due to the fact that the there are various diseases which if diagnosed early would help in saving lives of many individuals who otherwise remain unaware and hence, can be benefited by the effective treatment procedures recommended by the medical professionals. Open magnetic resonance systems and closed magnetic resonance systems are in demand and are commercially available to a large consumer base.

Geographically, the global magnetic resonance imaging systems market is segmented as North America, South America, Europe, Middle East and Africa, and the Asia-Pacific. The market is further segmented into United States, Canada, Mexico, Brazil, Argentina, Germany, France, Italy, United Kingdom, Israel, Saudi Arabia, UAE, Japan, China, India, Australia, South Korea and others. Europe and North America have a significant market share owing to the prevalence of chronic diseases and the adoption of technologically advanced medical imaging systems while the Middle East and African region has an emerging market share. In addition, a strong medical tourism industry here has led to the adoption of advanced medical devices for early diagnosis followed by the effective treatment monitoring. Furthermore, rising healthcare investments will increase the demand for the global magnetic resonance imaging systems market during the forecast period. However, the high costs of an MRI machine along with the associated costs is one of the major restraints impacting the market growth.

The global magnetic resonance imaging systems market is highly competitive due to a huge consumer base and the presence of diversified market players. There is a growing need for the adoption of magnetic resonance imaging systems owing to the rising awareness of early diagnosis. Intense competition in the magnetic resonance imaging systems market is paving way for mergers & acquisitions and other strategies in order to augment the market share. Competitive landscape analysis of the products, strategies, and investments are being made by the key companies to boost their market presence.Some of the major players discussed in this report are General Electric Company, Siemens Healthcare Private Limited and Canon Medical Systems Corporation among others.

Segmentation

The global magnetic resonance imaging systems market has been segmented on the basis of type, magnetic field strength, application, end-user and geography.

By Type:
Closed MRI Systems
Open MRI Systems

By Magnetic Field Strength:
Low field (< 0.3T)
Mid field (0.3T to 1.0T)
High field (1.0T to 3.0T)
Very high field (3.0T to 7.0T)
Ultra-high field (>7.0T)

By Application:
Cerebral
Abdominal
Cardiac
Vascular
Others

By End-User:
Hospitals
Clinics
Diagnostic centers
Research laboratories
Ambulatory surgical centers

By Geography:
North America
United States
Canada
Mexico
Others

South America
Brazil
Argentina
Others

Europe
Germany
France
Italy
United Kingdom
Others

Middle East and Africa
Israel
Saudi Arabia
UAE
Others

Asia Pacific
Japan
China
India
Australia
South Korea
Others