The size of the North America Closed MRI Systems Market was valued at USD 1.47 billion in 2022. It is further expected to grow and be worth USD 1.78 billion by 2027, growing at a CAGR of 3.80% between 2022 and 2027.
The market for closed MRI systems in North America is expanding due to an older population and increased public knowledge of the benefits of MRI scanning. In radiology, magnetic resonance imaging (MRI) is a technique for capturing images of physiological processes in the body. A closed MRI system is a tube-like tunnel with a strong magnetic field that allows for higher resolution and thinner slices. It is beneficial to understand smaller body parts. In addition, it scans patients more quickly than other MRI scanners. Closed magnetic resonance imaging (MRI) systems use a magnetic field and radio waves to screen and detect disorders like multiple sclerosis (MS), knee cartilage degradation, breast cancer, dementia, prostate cancer, spinal TB, and others.
Increased technological advancements, such as combining MRI with PET or CT to provide imaging options with less harmful radiation exposure, rising MRI adoption in developing countries, and increasing adoption of universal health coverage in developed and developing markets, are also propelling the Closed MRI market forward in the North American region.
Magnetic resonance imaging (MRI) is a useful diagnostic tool for detecting disorders such as tumors, strokes, and spinal lesions that affect blood vessels and the brain. Therefore, the increased prevalence of these disorders is projected to be a significant factor in market expansion.
The market's growth would be hampered by the high cost of MRI equipment, diminishing reimbursement rates for MRI treatments, and a reduction in helium supply, which could compel hospitals to replace expensive MRI magnets. Furthermore, the high cost of closed MRI systems is projected to stifle the market's growth. Furthermore, in emerging nations, a scarcity of qualified personnel to operate the systems is a key impediment to the market's expansion. Moreover, a decrease in the availability of helium, which might be used as an alternative to magnets in MRI systems, and a lack of proper infrastructure are important factors impeding the growth of the closed MRI systems market in North America.
This research report on North America closed MRI systems market has been segmented and sub-segmented into the following categories.
By Application:
By Field Strength:
By Country:
The North American region dominated the global closed MRI market in 2020, and this dominance is projected to last throughout the forecast period. Due to the presence of a well-established healthcare system in the North American region and the initiatives being carried out by numerous organizations, this region is likely to enhance its market share in the global market during the forecast period. Closed MRI systems, such as radiation therapy, are a crucial aspect of diagnoses and treatment regimens. In addition, the demand for MRI in the region is likely to rise due to an increase in cancer cases.
Furthermore, the guideline suggested that the use of equipment such as MRI and CT scans be temporarily paused to prevent the virus from infecting diagnostic equipment. However, because diagnostic imaging tools like MRI are such an important part of healthcare, the impact is unlikely to be long-lasting. In addition, due to the availability of sufficient infrastructure, high levels of public knowledge about health care, and a large quantity of disposable cash in the region, North America currently dominates the global closed MRI systems market in terms of revenue.
Emerging economies in North America such as U.S and Canada are expected to expand the highest over the forecast period. The market in North America is expected to witness relatively high growth over the forecast period owing to rapid growth in infrastructure, availability of appropriate healthcare setup, and growing awareness about early diagnosis among the general population.
KEY MARKET PLAYERS:
Some of the prominent companies leading North America 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 United States
6.3 Canada
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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