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MRI Market Size, Global Industry Share, SWOT Analysis & Forecast Report 2018-2025

October 8th, 2019 Fortune Business Insights Releases

According to the study, the Global MRI Market, which stood at US$ 7,165.6 Mn in 2017, will reach US$ 11,725.9 Mn by the end of 2025. If these figures prove true, the global magnetic resonance imaging equipment market will rise at a CAGR of 6.4% between 2018 and 2025.

The rising demand from musculoskeletal application segment is prognosticated to help the global magnetic resonance imaging equipment market rise at a positive pace, finds Fortune Business Insights in their new study. The study is titled, “Magnetic Resonance Imaging Equipment Market: Global Market Analysis, Insights and Forecasts, 2018 – 2025.”

Key companies leading the global Magnetic Resonance Imaging (MRI) Equipment Market include

  • SHENZHEN BASDA MEDICAL APPARATUS
  • Shenzhen Anke High-tech
  • Hitachi
  • Koninklijke Philips
  • GE Healthcare
  • Fonar Corporation
  • Time Medical Holding
  • Esaote SpA
  • Canon
  • Siemens Healthineers.

Request Sample Copy:

https://www.fortunebusinessinsights.com/enquiry/sample/magnetic-resonance-imaging-systems-market-100087

The musculoskeletal segment is anticipated to rise at a faster rate among other categories based on application. This is due to the recently proven clinical efficacy of MRI systems in detailed bone imaging cases.

Again, the neurology segment, out of various applications will register a higher CAGR because of the expansion of neuroscience in developed nations and its application in medical therapies and testing devices. On the other hand, the hospital segment is likely to generate more revenue over the next few years, because of the significant rise in funding by governments.

Advent of Superconducting Magnets and Software Upgrades to Boost MRI Market

Using magnetic resonance imaging technique is considered as an effective way of diagnosing disorders of the central nervous system, spine lesions, tumors, and the stroke affected areas of blood vessels and brain.

The demand for this system is increasing with the rising geriatric population and their susceptibility to various diseases. Also the rising demand for minimally invasive or non-invasive diagnostic procedures will boost the uptake of magnetic resonance imaging machines. With recent advancements in scanning techniques such as superconducting magnets, MRI systems, and software grades, the demand for magnetic resonance imaging machines is also increasing. Such factors will bode well for the market during the forecast tenure.

Nowadays, manufacturers are installing advanced techniques in MRI machines where such machines will be compatible with cardiac pacemakers for better reading for the physicians. Such innovation is likely to boost the market in the coming years. Increasing awareness about serious disorders and their immediate actions and early diagnosis will help the market to grow remarkably in the coming years.

However, the market may face rough waters considering the high cost of MRI machines and inadequate reimbursement policies issued by various governments. Furthermore, the unavailability of such advanced medical services in under developed nations may act as a restrain for the global MRI market.

Nevertheless, new entrants of vendors into the market and the scope of benefits from these emerging market may bring better growth opportunities for the market during the forecast period.

Browse Complete Report Details:

https://www.fortunebusinessinsights.com/industry-reports/magnetic-resonance-imaging-systems-market-100087

Increasing Emphasis of Early Diagnosis to Boost MRI Equipment Market in Latin America

The increasing adoption of MRI systems for detection of severe internal injuries is propelling the MRI equipment market in Asia Pacific. This regional market also exhibits growth at a relatively higher pace. Besides, the increasing incidence of neurological and musculoskeletal disorders and rising number of patient pool will also bode well for the market. Government initiatives for installing new MRI machines in developing economies is likely to boost the market in Asia Pacific.

The adoption of new MRI techniques and the presence of majority of market players in North America will help the market to emerge at the fore. Meanwhile, the market in Latin America is likely to witness lucrative growth opportunities because of the increased adoption of MRI systems in the region. This, coupled with the rising emphasis of early diagnosis will help the market in Latin America contribute a significant share in overall market revenue.

Strategic Collaborations among Key Players to Give Tailwinds to Growth

Players are entering into strategic collaborations and manufacturing improved MRI systems to gain competitive advantage in the global MRI equipment market. Besides this, they are focusing on mergers and acquisitions, new product launches, and adopting advanced technologies, to strengthen their position in the market.

Segmentation of the Global Magnetic Resonance Imaging (MRI) Systems Market

By Strength

  • Less than 1.5 T
  • 5 T
  • More than 1.5 T

By Application

  • Musculoskeletal
  • Neurology
  • Cardiology
  • Body Imaging
  • Others

By End user

  • Hospitals
  • Ambulatory Surgical Centers
  • Diagnostic Centers

Speak to Analyst:

https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/magnetic-resonance-imaging-systems-market-100087  

About Us

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us

Fortune Business Insights Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune – 411045, Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

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