The size of Europe's Closed MRI Systems Market was worth USD 1.13 billion in 2022 and is expected to reach USD 1.35 billion by 2027, growing at a CAGR of 4.60% from 2022 to 2027.
The growing aging population, advances in MRI technology, developing markets, open architecture and software applications, and the development of MRI compatible pacemakers are primary factors driving the closed MRI systems market in Europe.
Increased government assistance in the form of investments is thought to be boosting demand for closed MRI systems. The world's aging population is propelling the industry forward, and development potential for the market can be found in the advent of new technologies and the introduction of novel equipment. Increasing disposable money in healthcare centers is also expected to boost market demand. The rising predominance of hospitals built with the most up-to-date technology significantly impacts market growth. The growth of this industry is aided by increased government assistance in the form of investments to enhance treatment techniques.
Individualized treatment is becoming a vital feature of medicine, and molecular imaging is playing an increasingly essential role by using non-invasive technologies for accurate sickness diagnosis and determination, as shown by the increasing usage of MRI. Germany today has an estimated 83 million inhabitants, 16.2 million of whom are above the age of 67, according to the Germany Federal Statistical Office 2020 research, with that number predicted to climb to 21.4 million by 2040. The elderly population is expected to increase in the near future, making them more vulnerable to chronic illnesses such as neurological diseases and other disorders, driving the market during the projected period. Individualized treatment is becoming a vital feature of medicine, and molecular imaging is playing an increasingly essential role by using non-invasive technologies for accurate sickness diagnosis and determination, as shown by the increasing usage of MRI. Germany today has an estimated 83 million inhabitants, 16.2 million of whom are above the age of 67, according to the Germany Federal Statistical Office 2020 research, with that number predicted to climb to 21.4 million by 2040. The elderly population is expected to increase in the near future, making them more vulnerable to chronic illnesses such as neurological diseases and other disorders, driving the market during the forecast period.
Europe closed MRI market is constrained by problems such as the high cost of MRI equipment, the emptying of helium gas reserves, diminishing reimbursement rates, a scarcity of experienced labor, and the complexity of the devices. In addition, outpatient imaging services have been severely disrupted by COVID-19. According to the study "COVID-19 Pandemic Impact on Fell Imaging Utilization: A Single Institutional Experience," published in NCBI in 2020, system-wide imaging volume decreased by 55 percent between April 7 and 13, 2020. Compared to normal practice, the number of outpatient exams was reduced by 68 percent. In addition, emergency room visits dropped by 48%, while inpatient visits dropped by 31%. The most affected modalities were mammograms and nuclear medicine scans, which decreased by 93 percent and 61 percent, respectively.
This research report on the European Closed MRI systems market has been segmented and sub-segmented into the following categories.
By Application:
By Field Strength:
By Country:
Europe is closely following North America in commanding the bulk of market share in the worldwide closed MRI systems market. After the advent of integrated positron emission tomography/computed tomography (PET/CT) and later the commercialization of combined PET/magnetic resonance imaging (PET/MRI) systems, multimodality imaging has become more important. MRI has also been utilized in conjunction with other strong imaging modalities, such as treating infertile patients when paired with radiography. Furthermore, magnetic Particle Imaging (MPI) and MRI work together to generate high-quality pictures of tissues and organs within the body. All of these reasons are assisting in the expansion of the European market.
During the forecast period, the German closed MRI systems market is expected to lead the European market among all other nations. Rising awareness of the benefits of early illness detection and technological improvements in healthcare are projected to boost the market in the coming years.
The availability of skilled professionals to operate MRI equipment is expected to move the UK MRI Systems Market ahead quickly. A growing number of hospitals in the United Kingdom provide comprehensive MRI scanning services. The expansion of the UK MRI systems market is being driven by the heart, lungs, bones, breast, and abdomen. These hospitals have state-of-the-art MRI scanners to provide better patient treatment.
KEY MARKET PLAYERS:
Companies playing a notable role in the European Closed MRI System Market profiled in the report are Hitachi Medical Corporation, Toshiba Medical Systems, Siemens Healthcare, GE Healthcare, Imris Inc., Fonar Corporation, Esaote S.P.A., Neusoft Medical System, Aurora Medical Imaging, and Philips Healthcare.
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 High Field
Very High Field
5.1.5 Ultra High Field
5.1.6 MY-o-Y Growth Analysis, By Field Strength
5.1.7 Market Attractiveness Analysis, By Field Strength
5.1.8 Market Share Analysis, By Field Strength
5.2 Application
5.2.1 Introduction
5.2.2 Brain
5.2.3 Cardiac
5.2.4 Spine
5.2.5 Abdominal
5.2.6 Breast
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 U.K
6.3 Spain
6.4 Germany
6.5 Italy
6.6 France
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 Hitachi Medical Corporation
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 Toshiba Medical Systems
8.3 Siemens Healthcare
8.4 GE Healthcare
8.5 Imris Inc.
8.6 Fonar Corporation
8.7 Esaote S.P.A
8.8 Neusoft Medical System,
8.9 Aurora Medical Imaging
8.10 Philips Healthcare
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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