The size of the North America Open MRI Systems Market is predicted to grow USD 1.38 billion by 2027 from USD 1.04 billion in 2022, growing at a CAGR of 5.90% during the forecast period.
The open MRI system market in the North American region is expected to account for the largest share in the global market during the forecast period due to the rise in the increase in emergency cases with severe damage to the brain and other body parts. Furthermore, an increasing number of patients with cancer and other disorders is expected to provide market growth possibilities.
The adoption of hybrid MRI systems majorly drives the North American open MRI Systems market, rising emphasis on early diagnosis and increasing personalized care. The use of MRI is constantly expanding; for example, customized care is becoming an essential component of medicine, and molecular imaging is playing an increasingly important role through the use of non-invasive methods for accurate disease diagnosis and determination. According to the American Heart Association's 2018 Research Report, nearly 2,300 Americans die each day from cardiovascular illnesses, or once every 38 seconds.
When MRI is combined with other strong imaging methods, such as radiography, it can be utilized to treat infertile patients. Furthermore, combining Magnetic Particle Imaging (MPI) with MRI allows for high-resolution pictures of inside organs and tissues. All of these elements contribute to the market's growth.
The use of MRI is constantly expanding; for example, customized care is becoming an important component of medicine, and molecular imaging is playing an increasingly important role through the use of non-invasive methods for accurate illness diagnosis and determination. Furthermore, after the introduction of integrated positron emission tomography/computed tomography (PET/CT) and later the commercialization of combined PET/magnetic resonance imaging (PET/MRI) systems, multimodality imaging becomes even more significant.
However, the high cost of MRI systems, incompatibility of MRI systems in some patients, and falling reimbursement rates for MRI procedures are expected to limit the growth of the North American Open MRI systems market.
This research report on the North America Open MRI Systems Market has been segmented and sub-segmented into the following categories.
By Field Strength:
By Application:
By Country:
Geographically, Regionally, North America dominated the Open MRI System Market during the previous year, and it is most likely to continue its domination during the forecast period. The factors such as rising healthcare expenditure, increasing per capita income, and expanding healthcare infrastructure significantly boost the market growth. The United States and Canada are two of the region's most significant growth contributors. The population of these nations fuels the expansion of the regional market with a high per capita income, making healthcare facilities such as MRI scanners and other scanning technologies more affordable. This is supported by a number of government efforts as well as industry studies. For example, the US is considered the most lucrative market for heart-related issues and diseases as the number of lifestyle-oriented conditions in the country is increasing rapidly. As a result, the United States has dominated the market and accounted for a significant share in the market due to the expansion of open MRI applications in diagnosing various diseases and support from the government.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the North American Open MRI systems market profiled in this 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 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 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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