Publication Month: Sep 2018 | Report Code: TIPHE100001108 | No. of Pages: 183 | Category: Medical Device | Status: Published
Magnetic resonance imaging (MRI) is a scan which utilizes strong magnetic fields and radio waves for producing detailed images of the inside of the body. The MRI scanner is a large tube that contains powerful magnets, the patient lies inside the tube during the scan. The radio waves manipulate the magnetic position of the atoms of the body, which are picked up by a powerful antenna and sent to a computer. The computer performs calculations, which produces clear, cross-sectional black-and-white images of the body. An MRI scan can be used to examine almost any part of the body, which include brain and spinal cord, bones and joints, breasts, heart and blood vessels, internal organs, such as the liver, womb or prostate gland, and others.
The report offers insights and in-depth analysis of the magnetic resonance imaging market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world. It also includes the impact of the COVID-19 pandemic on the market across all the regions. The COVID-19 pandemic has disrupted the socioeconomic conditions of various countries across the world. Most healthcare providers prefer imaging over the other COVID-19 screening techniques because it offers a primary diagnosis in a short amount of time. COVID-19 and its effect on distinct patients in each demography have been studied using all imaging modalities, including magnetic resonance imaging. The industry has been able to produce smaller and more portable low-magnetic-field MRIs due to advancements in radiology imaging techniques. COVID-19 can cause more significant consequences in people who have underlying medical issues. As a result, during a pandemic, imaging technologies may be more widely adopted. The market, based on region, is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
Early diagnosis of a medical condition opens the door to treatment and future care. The earlier diagnosis of diseases helps the medical professionals and patients to take up various important medical decisions in terms of care, support needs, financial and legal matters. There exists a large number of advantages to obtaining accurate and early diagnosis after noticing of cognitive symptoms related to a particular medical condition. These benefits include reversal of symptoms, effective, sooner and early treatment of the individual, empowerment of the patient, time for better decision making and others. Magnetic resonance imaging (MRI) is one of the very effective and popularly practiced imaging techniques for diagnosis of diseases associated with various medical specialties including neurological disorders, musculoskeletal diseases, cancer, cardiovascular disorders and others. The increasing awareness among global populace regarding the importance of early disease detection is a major factor responsible to drive the growth of global magnetic resonance imaging market.
Based on field strength, the magnetic resonance imaging market is segmented into low-field MRI systems, high-field MRI systems, and ultra-high field MRI systems. In 2017, the high field MRI systems segment held a largest market share of 55.0% of the magnetic resonance imaging market, by field strength. This segment is also expected to dominate the market in 2025 owing to its ability to have a wide imaging potential and significantly higher resolution that can be used in various modalities that range from standard musculoskeletal studies to advanced work in neurology, cardiology, and specific spectroscopy scanning. Furthermore, the low field MRI systems segment is anticipated to witness the fastest growth rate during the forecast period.
Based on architecture, the magnetic resonance imaging market is segmented into closed MRI systems and open MRI systems. The open MRI Systems segment is anticipated to grow at a CAGR of 4.4% during the forecast period. The open architecture of the MRI scanners decreases the risk of claustrophobia and risk of panic attacks at exponential levels as well as allows patients of all the sizes and shapes to take up the MRI tests for accurate diagnosis and treatment of their medical conditions.
The application segment includes cardiology, oncology, neurology, gastroenterology, musculoskeletal and others. The musculoskeletal segment is anticipated to grow at a CAGR of 4.5% during the forecast period. The advantages offered by the MRI such as increased signal-to-noise ratio, higher spatial resolution, improved spectral resolution for spectroscopy, improved sensitivity for X-nucleus imaging, and decreased image acquisition times.
Based on end user, the magnetic resonance imaging market is segmented into hospital, ambulatory surgical centers, and diagnostic centers. The hospitals segment is anticipated to grow at a CAGR of 4.0% during the forecast period. Rising prevalence of various diseases, increasing number of hospitals across the globe, and rapid growth of various surgical procedures are primarily attributed the growth of this segment in the magnetic resonance imaging market in the coming years.
|Market Size Value in||US$ 5,913.6 Million in 2017|
|Market Size Value by||US$ 7,955.1 Million by 2025|
|Growth rate||CAGR of 3.8% from 2018-2025|
|No. of Pages||183|
|No. of Tables||80|
|No. of Charts & Figures||65|
|Historical data available||Yes|
|Segments covered||Field Strength , Architecture , Application , End User , and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The magnetic resonance imaging market players adopt organic strategies such as product launch and expansion to expand their footprint and product portfolio worldwide as well as to meet the growing demand.
The List of Companies - Magnetic Resonance Imaging Market
1. General Electric
2. Koninklijke Philips N.V.
3. Siemens AG
4. Canon Medical Systems Corporation
5. Esaote SpA
7. Hitachi, Ltd.
8. Aspect Imaging
9. NeuSOFT Technologies
10. Time Medical Holding