The size of the Asia-Pacific open MRI Systems Market was worth USD 0.59 Billion in 2022 and is expected to reach USD 0.93 Billion by 2027, growing at a CAGR of 9.40% from 2022 to 2027.
The Asia-Pacific area offers enormous opportunities for open MRI systems. China and India are the region's most populous countries, resulting in the growing demand for advanced healthcare facilities like MRI systems. The rising incidence of age-related chronic diseases, changing lifestyles, and growing demand for safe and accurate diagnostic technologies are likely to propel the overall market forward. Open MRI systems have a lower risk of panic attacks and claustrophobia, which has led to widespread acceptance among patients with these disorders. For scanning newborns, open systems are favored since they can accommodate fatter and stockier patients. In addition, open systems are preferred by hospitals and diagnostic centers because they enable diagnostic imaging of a wide range of diseases.
Other primary factors likely to fuel market expansion during the forecast period include an increasing trend of preventive healthcare and a high need for early diagnosis. The majority of the major players are concentrating their efforts on developing modern open systems with high strength and image quality. This is projected to increase demand for open MRI systems, which would help the market grow. Rising awareness of the benefits of early diagnosis, technological improvements leading to the replacement of low-field MRI systems with high-field MRI systems, and the discovery of new helium resources are among the key drivers driving the market's growth. Leading open MRI system providers have chosen product launches and approvals as a significant business strategy. Increased MRI system shipments help manufacturers in the diagnostic imaging industry strengthen their product portfolios and acquire market share by pursuing this growth strategy.
The high cost of MRI systems, incompatibility of MRI systems in some patients, and diminishing reimbursement rates for MRI operations, on the other hand, are anticipated to limit the market's expansion. Furthermore, orthopedic implants such as screws, plates, or artificial joints cause MRI scans to be distorted. As a result, the incompatibility of MRI systems for patients with implants is limiting the market's growth potential.
This research report on the Asia Pacific Open MRI Systems Market has been segmented and sub-segmented into the following categories.
By Field Strength:
By Application:
By Country:
Due to developing economies such as China and India, Asia Pacific is expected to grow at the quickest CAGR throughout the projection period. Increased medical tourism in the region and fierce rivalry among healthcare service providers are projected to drive up demand for modern MRI systems. India is expected to hold roughly 35 percent of the South Asian market share throughout the forecast period. With significant economic potential in India, Open MRI equipment providers are concentrating on diversifying their product portfolios by designing MRI systems that are suited to the specific needs of the Indian market to improve patient care. The low penetration of MRI systems in developing economies such as India and China, as well as rising incidences of cardiac, neurological, and oncological diseases, rising healthcare spending, increased physician preference for MRI over other imaging modalities, and the growing focus of major players in this region, provide significant opportunities for players to invest in this region. As a result, Asia Pacific is expected to be the fastest-growing regional market during the forecast period. Increased disposable income is predicted to drive regional market growth by encouraging people to spend on health-related issues.
KEY MARKET PLAYERS:
Companies playing a notable role in the Asia-Pacific Open MRI Systems market profiled in the report are Hitachi Medical Corporation (Japan), Toshiba Medical Systems (Japan), Siemens Healthcare (Germany), GE Healthcare (U.K.), and Philips Healthcare (Netherlands).
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Field Strength
5.1.1 Introduction
5.1.2 Low to Mid field
5.1.3 Y-o-Y Growth Analysis, By Field Strength
5.1.4 Market Attractiveness Analysis, By Field Strength
5.1.5 Market Share Analysis, By Field Strength
5.2 Application
5.2.1 Introduction
5.2.2 Brain
5.2.3 Spine
5.2.4 Abdominal
5.2.5 Breast
5.2.6 Cardiac
5.2.7 Y-o-Y Growth Analysis, By Application
5.2.8 Market Attractiveness Analysis, By Application
5.2.9 Market Share Analysis, By Application
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Field Strength
6.1.3.3 By Application
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Field Strength
6.1.4.3 By Application
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Field Strength
6.1.5.3 By Application
6.2 China
6.3 India
6.4 Japan
6.5 South Korea
6.6 Australia
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 GE Healthcare
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Hitachi Medical Corporation
8.3 Philips Healthcare
8.4 Siemens Healthcare
8.5 Toshiba Medical Systems
8.6 Aastrom Biosciences
8.7 Celgene Corporation
8.8 Invitrogen
8.9 Cytori Therapeutics
8.10 Retractable Technologies
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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