As per DelveInsight, the Global Magnetic Resonance Imaging Devices market was valued at USD 7.79 billion in 2021 and growing at a CAGR of 6.37%, it is expected to to reach USD 11.28 billion by 2027. Some of the key factors, such as growth in severe chronic diseases like various cancers, cardiac abnormalities, and others, rapid technological developmental activities, a growing geriatric population, and rising awareness & adoption of the devices owing to non-invasiveness, are expected to drive the Magnetic Resonance Imaging Devices Market growth in the coming years.
Globally, some of the prominent MedTech giants in the Magnetic Resonance Imaging Devices Market include General Electric Company, FUJIFILM Holdings Corporation, Siemens Healthcare GmbH, Koninklijke Philips N.V., Canon Medical Systems Corporation, ESAOTE SPA, Aspect Imaging Ltd., Bruker Corporation, Aurora Healthcare US Corp., FONAR Corp., Neusoft Medical Systems Co., Ltd., Shenzhen Anke High-Tech Co. Ltd., Shenzhen Basda Medical Apparatus Co. Ltd., Time Medical Holding, Hyperfine, Alltech Medical Systems, InnerVision MRI Ltd., Magnetica Limited, IMRIS, Deerfield Imaging, Inc., MR Solutions, and others.
DelveInsight’s “Magnetic Resonance Imaging Devices Market” research report provides the current and forecasted Magnetic Resonance Imaging Devices Market size, share, and trends analysis for the next five years, upcoming innovations in the segment, major market drivers & barriers, key competitors, and emerging devices in the domain.
Magnetic Resonance Imaging Devices Overview
Magnetic resonance imaging, or MRI, is a noninvasive medical imaging procedure for viewing/producing detailed images of internal structures of the body. MRI scanners use strong magnetic fields and radio waves (radiofrequency energy) to generate images. MRI scanners use a powerful magnetic field, radio waves, and a computer to produce detailed pictures.
DelveInsight’s “Magnetic Resonance Imaging Devices Market” report provides an in-depth assessment of the market based on segmentation such as by field strength (High-field MRI systems (1.5T to 3T), Low-to-mid-field MRI systems (<1.5T), Very-high-field MRI systems (4T and above), by architecture (Closed MRI systems, Wide bore MRI, Open MRI systems), by application (musculoskeletal, gastroenterology, neurology, oncology, others), by end-user (hospitals, diagnostic centers, others), and by geography (North America, Europe, Asia-Pacific, and Rest of the World)
As per DelveInsight, the High-field MRI systems are estimated to hold a significant share in the coming years owing to the specific features associated with these devices, and the added advantage such as superior imaging qualities, higher spatial resolution.
Magnetic Resonance Imaging Devices Market Analysis
MRI plays a key role in diagnosing complications in the brain and spinal cord and detecting various types of cancers. As per DelveInsight, the Magnetic Resonance Imaging Devices Market is expected to grow in the coming years owing to increasing cases of severe chronic diseases like cancers and cardiac abnormalities, among others.
As per WHO, in 2020, cancer was one of the leading causes of death worldwide, accounting for nearly 10 million deaths. Similarly, as per Cancer Research UK, in 2018, the incidence of major cancers and population growth is consistent; it is predicted that there will be 27.5 million new cancer cases worldwide each year by 2040. The rising cases of cancer are expected to generate the demand for Magnetic Resonance Imaging Devices, as early detection is essential for a cure because survival is dependent on the treatment pathway for the disease. As per WHO, in 2020, about one billion people across the world were over the age of 60. Age is considered one of the key risk factors associated with the development of chronic diseases. With the rise in the geriatric population base across the globe, Magnetic Resonance Imaging Devices can play an essential role in disease detection, which in turn will stimulate the Resonance Imaging Devices Market growth in the coming years. Due to Covid-19, globally, outpatient visits were canceled, and non-emergency hospitals and procedures were suspended. The vaccine development programs have improved and initiated the process of economic recovery. As the situation continues to improve Magnetic Resonance Imaging Devices Market is also expected to grow in the upcoming years.
Moreover, the technological advancements in the field of MRI equipment, improvement in field strength, and computing power of imaging equipment are other major factors expected to drive the Magnetic Resonance Imaging Devices Market growth in the coming years. However, some of the key factors, such as the high costs related to installation and maintenance of the equipment and product recalls, may hamper the Magnetic Resonance Imaging Devices market growth during the forecast period.
Interested to know more about the ongoing developments in the Global Magnetic Resonance Imaging Devices Market? Visit to get an in-depth insight into Magnetic Resonance Imaging Devices Types and Emerging Products
Magnetic Resonance Imaging Devices Market Assessment
As per DelveInsight’s assessment, North America is expected to hold the major share in the Global Magnetic Resonance Imaging Devices Market. The rise in chronic conditions is one of the key factors for the increasing demand for Magnetic Resonance Imaging Devices. According to the NHIS, in the US, more than half (51.8%) of adults in the US had at least 1 of 10 selected diagnosed chronic conditions, and 27.2% of adults had multiple chronic conditions.
Additionally, the rapid technological developmental activities, growth in the product development activities, non-invasive properties of MRI Devices, favorable government policies, and better & improved product launches will greatly influence the Magnetic Resonance Imaging Devices Market in the North American region. Moreover, a high disposable income, the high interest of device manufacturers in accessing local markets, the presence of a large patient population, sophisticated healthcare infrastructure, encouraging reimbursement policies, and increased awareness regarding disease progression will also impact the Magnetic Resonance Imaging Devices market growth in this region.
Interested in knowing how the Global Magnetic Resonance Imaging Devices Market will grow by 2027? Click to get a snapshot of Magnetic Resonance Imaging Devices Market Trends and Developments.
Magnetic Resonance Imaging Devices Market – Key Developments and Breakthroughs
Over the years, the Magnetic Resonance Imaging Devices Market has evolved significantly owing to the active participation of global MedTech companies and technological advancements in the domain.
- On November 29, 2021, FUJIFILM Healthcare Americas Corporation announced the launch of its advanced, high-field open MRI system – Velocity MRI System during the 2021 RSNA conference.
- On March 4, 2021, Hitachi Medical Systems launched two new permanent open MRI systems at the start of the 2021 European Congress of Radiology. Both systems were equipped with a SynergyDrive workflow solution.
- On February 18, 2021, Hitachi announced the conclusion of the absorption-type company split agreement relating to diagnostic imaging-related business (CT, MRI, X-RAY) to Fujifilm.
As per DelveInsight, the ongoing clinical & commercial development activities and research in the domain will contribute immensely to the Magnetic Resonance Imaging Devices Market in the coming years.
Key Companies In the Magnetic Resonance Imaging Devices Market
Globally, some of the prominent MedTech players in the Magnetic Resonance Imaging Devices Market include General Electric Company (NYSE: GE), FUJIFILM Holdings Corporation (OTCMKTS: FUJIY), Siemens Healthcare GmbH (OTCMKTS: SMMNY), Koninklijke Philips N.V. (NYSE: PHG), Canon Medical Systems Corporation (OTCMKTS: TOSYY), ESAOTE SPA, Aspect Imaging Ltd., Bruker Corporation (NASDAQ: BRKR), Aurora Healthcare US Corp., FONAR Corp. (NASDAQ: FONR), Neusoft Medical Systems Co., Ltd., Shenzhen Anke High-Tech Co. Ltd., Shenzhen Basda Medical Apparatus Co. Ltd., Time Medical Holding, Hyperfine (NASDAQ: HYPR), Alltech Medical Systems, InnerVision MRI Ltd., Magnetica Limited (ASX:MNA), IMRIS, Deerfield Imaging, Inc., MR Solutions, and others.
As per DelveInsight, due to the very high growth rate and positive return, several new players are expected to enter the Magnetic Resonance Imaging Devices Market in the coming years. The entry of new players and the launch of emerging products will immensely drive market growth.
Learn how new players’ entries will transform the Magnetic Resonance Imaging Devices Market in the coming years at: Magnetic Resonance Imaging Devices’ Competitive Landscape.
Scope of the Magnetic Resonance Imaging Devices Market Report:
- Geography Covered – Global
- Study Period – 2019-2027
- Magnetic Resonance Imaging Devices Market
- By Field Strength – High-Field MRI Systems (1.5T To 3T), Low-To-Mid-Field MRI Systems (<1.5T), Very-High-Field MRI Systems (4T And Above),
- By Architecture – Closed MRI Systems, Wide-Bore MRI, Open MRI Systems
- By Application – Musculoskeletal, Gastroenterology, Neurology, Oncology, Others
- By End-User – Hospitals, Diagnostic Centers, Others
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View.
Table of Content
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Magnetic Resonance Imaging Devices Market Key factors analysis |
| 5 | Magnetic Resonance Imaging Devices Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Magnetic Resonance Imaging Devices Market |
| 7 | Magnetic Resonance Imaging Devices Market Layout |
| 8 | Magnetic Resonance Imaging Devices Global Company Share Analysis – Key 3-5 Companies |
| 9 | Magnetic Resonance Imaging Devices Product Profiles and Key Companies |
| 10 | Project Approach |
| 11 | KOL Views |
| 12 | DelveInsight Capabilities |
| 13 | Disclaimer |
| 14 | About DelveInsight |
Reach out to us to get a more detailed overview of the Magnetic Resonance Imaging Devices Regulatory & Patent Analysis
Key Takeaways From the Magnetic Resonance Imaging Devices Market Report Study
- In-depth analysis of the Magnetic Resonance Imaging Devices Market size, share, and key trends.
- Comprehensive analysis of current Magnetic Resonance Imaging Devices Market size (2020) and market forecast for 5 years (2022-2027)
- The effect of the COVID-19 pandemic on the Magnetic Resonance Imaging Devices Market is significant. To capture and analyze suitable indicators, our experts are closely watching the Magnetic Resonance Imaging Devices Market.
- Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last three years
- Key companies dominating the Global Magnetic Resonance Imaging Devices Market.
- Various opportunities are available for the other competitors in the Magnetic Resonance Imaging Devices Market space.
- What are the top-performing segments in 2020? How these segments will perform in 2027.
- Which are the top-performing regions and countries in the current Magnetic Resonance Imaging Devices Market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Magnetic Resonance Imaging Devices Market growth in the coming future?
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