MRI Systems Market - insightSLICE

MRI Systems Market – insightSLICE

The Complete Guide to MRI systems Market 2023 - Benefits | Applications | Technical Breakthrough | Future Outlook

MRI systems Market – insightSLICE

MRI Systems Market Global Sales are Expected to Reach US$ 10.28 Billion by 2032

SANTA ROSA, CALIFORNIA, USA, April 20, 2023/ — The Global MRI Systems Market Share, Trends, Analysis and Forecasts, 2019-2032 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.

The global MRI systems market was estimated to be US$ 6.88 Billion in 2022 and is expected to reach US$ 10.28 Billion by 2032 at a CAGR of 4.1%. Magnetic Resonance Imaging (MRI) is a non-invasive medical imaging technique that uses a strong magnetic field and radio waves to produce detailed images of the internal structures of the human body.

An MRI machine consists of a large cylindrical magnet, radio frequency coils, and a computer that controls the machine. The patient is positioned inside the MRI machine and the magnetic field aligns the hydrogen atoms in the body. A radio frequency pulse is then sent through the body, which causes the hydrogen atoms to temporarily move out of alignment. As the atoms return to their normal alignment, they emit a signal that is picked up by the radio frequency coils. The computer analyzes these signals to create detailed images of the internal structures of the body.

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MRI is widely used for medical imaging purposes and is particularly useful for visualizing soft tissue, such as the brain, muscles, and internal organs. The images produced by an MRI scan are highly detailed and provide valuable information for medical diagnosis and treatment planning.

Growth driving factors of Global MRI Systems Market

Following are some of the major factors driving the market –                

Growing demand for non-invasive imaging techniques: With advancements in medical technology, patients are becoming more interested in non-invasive diagnostic techniques. MRI systems, in particular, are gaining popularity due to their ability to produce high-resolution images of internal structures without the need for surgery or radiation exposure. This has led to a growing demand for MRI systems in both clinical and research settings.

Increasing prevalence of chronic diseases: The rise in chronic diseases such as cardiovascular disease, cancer, and neurological disorders has led to an increased demand for early and accurate diagnosis. MRI systems are often used to diagnose and monitor these types of conditions, as they provide a non-invasive means of visualizing internal structures and identifying potential abnormalities. This has driven the demand for MRI systems in healthcare facilities around the world.

Rising demand for early diagnosis and treatment of diseases: Early diagnosis is critical for effective treatment and improved patient outcomes. MRI systems are widely used for early diagnosis of conditions such as cancer, as they can detect abnormalities before they become symptomatic. The demand for MRI systems is also driven by the need for earlier detection and treatment of other conditions, such as cardiovascular disease and neurological disorders.

Increasing use of MRI in interventional procedures: MRI systems are increasingly being used in interventional procedures, such as biopsy and ablation. The high-resolution images produced by MRI systems allow physicians to perform these procedures with greater accuracy and precision. This has led to a growing demand for MRI systems in clinical and research settings.

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Expansion of healthcare infrastructure in emerging economies: The expansion of healthcare infrastructure in emerging economies is driving the demand for MRI systems. As healthcare systems in these countries improve, the demand for advanced diagnostic tools such as MRI systems is expected to increase. This trend is expected to continue in the coming years as healthcare spending continues to rise in emerging economies. The expansion of healthcare infrastructure in emerging economies is creating opportunities for growth for MRI systems manufacturers and suppliers.

The leading market segments of Global MRI Systems Market

On the basis of field strength, the high-field MRI systems segment is the largest among the field strength segments due to its superior imaging quality and accuracy compared to the other systems. With a field strength ranging from 1.5T to 3T, high-field MRI systems have a stronger magnetic field that enables them to produce clearer and more detailed images of the human body. This results in a more precise diagnosis and treatment planning. Additionally, high-field MRI systems have a wider range of applications, making them ideal for various medical specialties, including neurology, cardiology, and orthopedics.

The key trend in the high-field MRI systems segment is the increasing demand for more advanced and sophisticated MRI systems that offer improved imaging quality, shorter scan times, and increased patient comfort. To meet this demand, manufacturers are investing in research and development to produce high-field MRI systems with faster scan speeds and improved hardware and software. This has led to the introduction of innovative technologies such as 3D imaging, ultra-fast imaging, and multi-parametric imaging, which provide more precise and detailed images in a shorter amount of time. Additionally, manufacturers are also focusing on enhancing patient comfort by incorporating features such as noise-reduction technology and larger bore sizes to reduce patient anxiety during the scan. Overall, the high-field MRI systems segment is expected to grow significantly in the coming years as healthcare facilities increasingly adopt these advanced MRI systems to improve patient outcomes and enhance the overall diagnostic accuracy of their imaging services.

Geographically, the largest segment of the global MRI systems market is North America, which is expected to account for a significant share of the market. The dominance of North America in the global MRI systems market can be attributed to factors such as the high prevalence of chronic diseases, the increasing geriatric population, the high adoption rate of technologically advanced healthcare devices, and the presence of well-established healthcare infrastructure in the region.

The fastest-growing segment of the global MRI systems market is Asia-Pacific, which is expected to grow at a significant rate over the forecast period. The growth of the Asia-Pacific MRI systems market can be attributed to factors such as the rapidly increasing population, the rapidly developing healthcare infrastructure, the increasing disposable income, and the rising awareness about the benefits of advanced healthcare devices. Additionally, the growing economies of countries such as China and India, which have a large population base, are expected to further drive the growth of the Asia-Pacific MRI systems market.

The key players of the Global MRI Systems Market are:

Canon Medical Systems Corporation (Japan), Fonar Corporation (USA), GE Healthcare (USA), Hitachi Medical Corporation (Japan), Hologic Inc. (USA), Neusoft Medical Systems Co., Ltd. (China), Philips Healthcare (Netherlands), Shimadzu Corporation (Japan), Siemens Healthineers (Germany), Toshiba Medical Systems Corporation (Japan)and Others.

Market Segmentation

By Field Strength:

• High-field MRI systems (1.5T to 3T)
o 1.5T MRI systems
o 3T MRI systems
• Low-to-mid-field MRI systems (<1>• Very-high-field MRI systems (4T and above)

By Architect:

• Closed MRI systems
• Standard bore MRI
• Wide bore MRI
• Open MRI systems

By Application:
• Oncology
• Neurology
• Cardiology
• Gastroenterology
• Musculoskeletal
• Other applications

By End Use:

• Hospitals
• Imaging Centers
• Ambulatory Surgical Centers
• Others

By Region

• North America
* United States
* Canada
* Rest of North America

• Europe
* Germany
* United Kingdom
* Italy
* France
* Spain
* Rest of Europe

• Asia Pacific
* Japan
* India
* China
* Australia
* South Korea
* Rest of Asia Pacific

• Middle East & Africa
* Saudi Arabia
* South Africa
* Rest of the Middle East & Africa

• South America
* Brazil
* Rest of South America

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