Technological Advancements and Emerging Applications in the Global Magnetic Resonance Imaging (MRI) Market, Forecast to 2024

Customers’ Unmet Needs and New Technical Applications to Create Opportunities in the MRI Market

This research service presents an analysis of the global magnetic imaging resonance (MRI) market. It is an in-depth analysis of the current trends, market size, revenue forecast, market penetration, market attractiveness, and low-end, mid-range, high-end Tesla MRI, and extremity MRI. The market is broken down into various regions also.

Research Scope

The research service provides an in-depth analysis of the critical unmet needs and potential game-changing strategies in the MRI market. Growth opportunities in terms of geographies and technologies are provided. A detailed analysis focusing on the competitive structure, market metrics, market share, unit shipment, and forecasts are provided for the geographies covered under the research scope.  

Regions Covered:

• North America: The United States and Canada
• Western Europe: Germany, the United Kingdom, Italy, France, Spain, Benelux, Scandinavia
• Eastern Europe: Poland, Turkey, Hungary, Romania
• Asia-Pacific: Australia, China, India, Japan, Thailand, Indonesia, Malaysia
• LATAM: Brazil, Argentina
• South Africa
• The Middle East: Saudi Arabia and United Arab Emirates

Market Engineering Measurements are provided 2019 and forecasted up to 2024, including revenue and year-on-year growth rate by countries and segments. The price range and growth trend by equipment type are also analyzed.

• MRI has become ubiquitous in multidisciplinary hospitals as a standard workhorse.
• MR trends are moving toward interventional applications (image guidance and procedural monitoring), tumor detection, and excision guidance.
• The use of MRI technology is expected to expand across a broad range of clinical applications globally owing to its increasing significance in modern medical diagnosis. Improvements in MRI systems, such as high performance gradients, parallel imaging techniques, higher field strength, and new clinical applications have substantially increased the level of quality and speed of image acquisition.
• Additionally, advanced imaging applications for different anatomies are gaining acceptance. Innovative ways are being explored to use the equipment in areas such as abdominal imaging, cardiac imaging, and cancer diagnosis.
• While MRI is used widely for neurology and spine disorders, its use in cardiac, abdominal, and breast imaging is expected to increase multifold during the forecast period, primarily due to radiation when compared to computed tomography (CT) scan. In neurology, the introduction of 3T and 7T MRI has been found to have significant use in patients with neurodegenerative diseases such as Alzheimer’s and Parkinson’s.
• Introduction of portable or point-of-care MRI presents potential scope to be a game-changer in the MRI space. Affordability and accessibility of point of care will enhance penetration in developing economies, currently facing shortage.
• Increased utility and new business models (procurement through group purchasing organization GPOs) and managed equipment service (MES) models) are expected to drive the global MRI market.
• Currently, penetration of MRI in APAC, LATAM, and South Africa is low compared to developed economies. With new business models and private healthcare services investing in MRI, increase in procedural volume is evident.