Magnetic Resonance Imaging Market Global Analysis by 2025

report image

Magnetic Resonance Imaging Market to 2025 - Global Analysis and Forecasts by Field Strength (Low-Field MRI Systems, High-Field MRI Systems, Ultra-High MRI Systems), Architecture (Closed MRI Systems and Open MRI Systems), Application (Cardiology, Oncology, Neurology, Gastroenterology, Musculoskeletal and Others), End User (Hospital, Ambulatory Surgical Centers and Diagnostic Centers), and Geography

Publication Month: Sep 2018 | Report Code: TIPHE100001108 | No. of Pages: 183 | Category: Medical Device | Status: Published

The magnetic resonance imaging market is projected to reach US$ 7,955.1 million by 2025 from US$ 5,913.6 million in 2017; it is expected to register a CAGR of 3.8% from 2018 to 2025.

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.

Lucrative Regions for Magnetic Resonance Imaging Market

Lucrative Regions for Magnetic Resonance Imaging Market

Get more information on this report :


Market Insights

Increasing Awareness Regarding Benefits of Early Diagnosis

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.

Field Strength-Based Insights

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.

Magnetic Resonance Imaging Market, by Field Strength – 2017 and 2025

Magnetic Resonance Imaging Market, by Field Strength – 2017 and 2025

Get more information on this report :


Architecture-Based Insights

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.

Application-Based Insights

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.

End User-Based Insights

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.

Strategic Insights

Report Coverage - Magnetic Resonance Imaging Market
Report CoverageDetails
Market Size Value inUS$ 5,913.6 Million in 2017
Market Size Value byUS$ 7,955.1 Million by 2025
Growth rateCAGR of 3.8% from 2018-2025
Forecast Period2018-2025
Base Year2018
No. of Pages183
No. of Tables80
No. of Charts & Figures65
Historical data availableYes
Segments coveredField Strength , Architecture , Application , End User , and Geography
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue 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.

By Field Strength

  • Low-Field MRI Systems
  • High-Field MRI Systems
  • Ultra-High Field MRI SystemsOthers

By Architecture

  • Closed MRI Systems
  • Open MRI Systems

By Application

  • Neurology
  • Musculoskeletal 
  • Cardiology
  • Gastroenterology
  • Oncology
  • Others

By End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Diagnostic Centers

By

Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South and Central America (SCAM)
    • Brazil
    • Argentina
    • Rest of SCAM

Company Profiles

  • General Electric
  • Koninklijke Philips N.V.
  • Siemens AG
  • Canon Medical Systems Corporation
  • Esaote SpA
  • FONAR
  • Hitachi, Ltd.
  • Aspect Imaging
  • NeuSOFT Technologies
  • Time Medical Holding            

Frequently Asked Questions

MRI could be a scan that utilizes durable magnetic fields and radio waves to bring out comprehensive inside pictures of the body.
The MRI scanner is a large tube that contains powerful magnets, the patient lies within the tube throughout the scan. The radio waves control the magnetic position of the atoms of the body that are picked up by a strong antenna and sent to a computer. The computer performs calculations, that brings out clear, cross-sectional black & white images of the inside the body.
The industry has been able to turn out smaller and additional transportable low-magnetic-field MRIs thanks to advancements in radiology imaging techniques. As a result, throughout the pandemic outbreak, imaging technologies is also additional wide adopted.
The MRI market players adopt organic methods like product launch and growth to expand their footprint and product portfolio worldwide yet on meet the growing demand.
The hospitals section is anticipated to grow at a CAGR of 4% throughout the forecast. Rising prevalence of assorted diseases, increasing range of hospitals across the world, and rapid climb of assorted surgical procedures are primarily attributed the expansion of this section within the MRI market within the coming back years.

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
6. FONAR
7. Hitachi, Ltd.
8. Aspect Imaging
9. NeuSOFT Technologies
10. Time Medical Holding

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the magnetic resonance imaging market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global magnetic resonance imaging market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
TIPHE100001108
Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Get the Latest COVID-19 Analysis on this market




tip-analyst

Have a question?

Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Speak To Analyst
Pricing
  • $3000
  • $4550 $3000
  • $6550 $4000
  • $8550 $5000

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis.

    Inquire for Discount