MRI Systems Market, Size, Share, Evaluation, 2021-2028

Market Overview

“The Global MRI Systems Market is expected to grow at a CAGR during the forecasting period (2021-2028)”.

Magnetic resonance imaging (MRI) is a medical imaging technique, which is used in radiology to produce pictures of the anatomy and the physiological processes of the body. These pictures are further used to diagnose and detect the presence of abnormalities in the body. MRI detects heart and surrounding arteries views and associated troubles.

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Market Dynamics

The global MRI systems market growth is driven by the rising awareness about the benefits of early diagnosis, technological advancements leading to the replacement of low-field MRI systems with high-field MRI systems, and discovery of new helium deposits.  

Technological advancements in the strength of MRI will drive the market growth

Technological advancements in MRI techniques, such as superconducting (SC) magnets, open architecture, high-field MRI, and software applications, are generating interest among academic institutes, research laboratories, hospitals, and physicians. Additionally, the advent of MRI-compatible pacemakers will significantly increase the number of patients eligible for MRI procedures. The growth of MRI systems in developed markets such as North America and Europe is mainly driven by replacement. The prime factors responsible for the new wave of replacement include the introduction of MRI scanners with wider patient bores and replacement of existing MRI systems that have reached optimum utilization.  

The global players, such as GE, Siemens, and Philips, have an extensive hold on improving technology, as well as global distribution channels, which helps the increasing number of public and private diagnostic centers around the world. For instance, in 2019, the US Food and Drug Administration (FDA) approved Clariscan developed by GE Healthcare. Clariscan is a gadolinium-based contrast agent indicated for intravenous use with MRI in brain (intracranial), spine, and associated tissues in adult and pediatric patients, to detect and visualize areas with disruption of the blood brain barrier (BBB) and/or abnormal vascularity. Increasing demand for and development of the MRI technology are expected to help the market growth. However, the use of refurbished MRI equipment is also widely preferred in the developing markets, due to its cost-effectiveness and easy availability.   

Market Segmentation

Global MRI Systems Market– By Type

• Closed
• Opened
• Others

Global MRI Systems Market- By Application

• Breast MRI
• Brain MRI
• Cardiac MRI
• Abdominal
• Pelvic MRI
• Others

Global MRI Systems Market– By Field Range

• Low
• Medium
• High
• Ultra High

Global MRI Systems Market– By End-User

• Diagnostic Centers
• Hospitals
• Others

Global MRI Systems Market- By Region

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America

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Competitive Landscape

The MRI systems market is highly competitive with presence of local as well as global companies.  Some of the key players which are contributing to the growth of the market include Siemens Healthineers, GE Healthcare, Canon Medical Systems, Aurora Imaging Technology, Carestream Health, Esaote SpA, GE Healthcare, Hitachi Ltd, Koninklijke Philips NV, Neusoft Medical Systems Co. Ltd among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the anal fistula globally. For instance, in November 2020, Siemens launched its smallest and most lightweight whole-body MRI named High-V MRI. The scanner’s unique combination of digital technologies and the new field strength of 0.55 tesla broadens the range of clinical applications for MRI systems. Magnetom Free.Max considerably improves pulmonary imaging with MRI and allows patients with implants to be scanned much more accurately.

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Tags: Neusoft Medical Systems Co. Ltd, Carestream Health, Hitachi Ltd., Breast MRI, Brain MRI, Cardiac MRI, MRI Abdominal, Canon Medical Systems, Aurora Imaging Technology, Esaote SpA, MRI Systems, Siemens Healthineers, GE Healthcare, MRI Systems Market, Magnetic Resonance Imaging