The rising demand from musculoskeletal application segment is prognosticated to help the MRI Systems Market rise at a positive pace, finds Fortune Business Insights in their new study. The study is titled, “MRI Systems Market: Global Market Analysis, Insights and Forecasts, 2018 – 2025.”
According to the study, the global 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.
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Leading Players operating in the MRI Systems Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- GE Healthcare
- Siemens Healthcare
- Koninklijke Philips N.V.
- Canon Inc.
- Hitachi, Ltd.
- Esaote SpA
- Shenzhen Anke High-tech Co., Ltd.
- Time Medical Holding
- SHENZHEN BASDA MEDICAL APPARATUS CO., LTD.
- Fonar Corporation
- Other prominent players
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 MRI Systems Market.
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.
Market Segmentation:
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
By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (GCC, South Africa, Rest of Middle East & Africa)
Reasons to Purchase this Report:
- Comprehensive analysis of the MRI Systems Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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KEY QUESTIONS ANSWERED:
- What are the key technological and MRI Systems Market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- Why Choose Fortune Business Insights?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the MRI Systems Market growth?
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