The Global MRI System Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Global MRI Systems is estimated to be USD 5.61 billion in 2016 and predicted to rise to USD 7.19 billion by 2021 with a CAGR of 5.1%. The market is segmented into Field Strength (low to mid-range, High Field, Very High Field, Ultra High Field) by Architecture (Open MRI, Closed MRI) by Application (Brain, Spine, Cardiac, Abdominal, Breast) and by region – Global Industry Analysis, Size, Share, Growth, Trends, and forecasts (2016-2021). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
MRI is a test which uses magnetic field and pulses from Radio wave energy to take pictures of various parts of our body. There are many drivers in this market like rise in geriatric population, developments in MRI techniques, developing markets, open architecture, and software applications, and development of MRI compatible pacemakers. But some of the factors like high cost of MRI systems, draining helium gas deposits, declining reimbursement rates, dearth of skilled labor and complexity of machines are restraining the market.
Brain and neurological MRI is the largest growing segment and the largest segment which is because of rise in geriatric population, and people gaining sufficient awareness to detect diseases. Ultra-high Field Strength is the fastest growing segment. High Field Strength is the most commonly used field strength in market because of increase in replacements and increasing adoption of advanced products.
Geographically, North America has the highest share in the global market followed by Asia. The highest share of North America is attributed to its greater availability of advanced Technology and greater spending limits for people. Asia Pacific has the highest CAGR because of the rise in spending limits of people and rise in geriatric population.
Key players in the MRI systems market 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.
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