Advances in Magnetic Resonance Imaging (MRI) Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Advances in Magnetic Resonance Imaging (MRI) Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : May, 2020 | Healthcare IT | PPT format

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Global Advances in Magnetic Resonance Imaging (MRI) Market: Snapshot

Advancements in technology pertaining to magnetic resonance imaging (MRI) have enabled capturing of high-quality images of ligaments, soft tissues, and other body organs. Moreover, technological advancements have widened the scope of applications. Companies are focusing towards research and development of advanced open systems, which have minimum chances of suffocation and higher acceptance among claustrophobic people. Hence, such improvements in the technology are working in favor of the global MRI market. The rising geriatric population is also stimulating the adoption of MRI.

The demand for MRI is strong for scanning brain and neurological systems due to the lack of effective and accurate alternation. However, in several other applications such as cardiac and breast imaging, alternatives such as ultrasound techniques and x-ray are considered to be first-line imaging tools. In terms of field strength, mid field strength devices are likely to have high demand throughout the forecast period, owing to affordable price and acceptable speed and resolution.

While developed regions will be at the forefront of growth due to the high acceptance of technologically advanced products, developing regions will emerge to be the new destinations for key players in the global MRI market. The phenomenal growth of these regions can be attributed to the improving healthcare infrastructure and rising disposable income. The global advances in magnetic resonance imaging (MRI) market is expected to be dominated by international players due to their strong foothold and brand name across all major geographies. A large number of players will be focusing towards product innovations to stay relevant in the market

Global Advances in Magnetic Resonance Imaging (MRI) Market: Introduction

Magnetic resonance imaging (MRI) uses magnetism, radio waves, and a computer device to develop images of internal body organs and structures. MRI scans offers wide-ranging variety of applications in disease diagnosis. These consists of neuroscans, cardiac, liver scans and others. Closed MR imaging systems has the highest share in the MRI market because of high clinical value offered by the systems. MR imaging is one of the most preferred diagnostic imaging method used for the central nervous system in particular imaging blood vessels, detecting brain tumors, stroke affected areas of brain and spine lesions.

The research report offers a highly detailed and diversified description of the global advances in magnetic resonance imaging (MRI) market and the advancements that have been made in it recently. It encapsulates the priority of each key advancement and pegs it against the global healthcare industry and the advantages that it can gain through them. The report breaks down the competitive landscape of the global advances in magnetic resonance imaging (MRI) market as well, using proven industry analytical tools including Porter’s Five Force analysis and a SWOT analysis, to help each user formulate successful investment and expansion strategies within the advances in magnetic resonance imaging (MRI) market.

Global Advances in Magnetic Resonance Imaging (MRI) Market: Top Drivers and Trends

The key driver for the global advances in magnetic resonance imaging (MRI) market currently is the increase in healthcare expenditure that is being funneled into research and development activities. Additionally, physicians are shown to hold a greater favoring towards modern MRI systems over traditional medical imaging modalities, further improving the chances of research and development activities in the global MRI market. Private hospitals are expected to lead the demand for MRI devices, and the adoption rate of MRIs is likely to grow because of the growing occurrences of cardiac diseases, neurological, and oncological cases.

The challenge faced by the global advances in magnetic resonance imaging (MRI) market is the probable rise in the prices of hospital-grade helium. Liquid helium is used for lowering the temperature of superconducting magnets in MR imaging systems. Severe shortage of liquid helium is expected to limit the market growth as it will affect the rate of production for OEMs in it.

MRI technology has attained a push towards greater evolution rates because of a deep interest shown by manufacturers and technology developers. These developers and manufacturers wish to make it more patient-friendly in light of the improving standards of patient satisfaction and positive recordkeeping. North America has the leading share in the global MRI market, followed by Europe. Both regions owe their advantage in the global MRI market to a faster rate of technological developments aimed at enhancing diagnostics for the swiftly growing aging population. Asia Pacific, on the other hand, is expected to grow at a leading CAGR over next few years, owing to increasing demand.

Global Advances in Magnetic Resonance Imaging (MRI) Market: Segmentations

The global advances in magnetic resonance imaging (MRI) market is segmented on the basis of architecture, technology, field strength, and applications. The architecture of MRI machines include closed and open systems. Technologies can be segmented into MR, algorithm MR, venogram Functional MRIMR, Spectroscopy, and fusion MR. Field strength segmentations include low, mid, and high field strength systems. Applications include neurological disorder, interventional MRI systems, whole body MRI systems, MRI for brain, breast MRI systems, cardiac MRI systems, and MRI systems for minotiry applications such as those meant for chest, neck, and upper and lower extremities.

Global Advances in Magnetic Resonance Imaging (MRI) Market: Companies Mentioned in the Report

Key players in the global advances in magnetic resonance imaging (MRI) market so far, have included Agilent Technologies Inc., Advanced Imaging Research Inc., Bayer Healthcare Pharmaceuticals, Bruker Biospin GmbH, Esaote S.p.A, and Hitachi Medical Corporation.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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