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 : October, 2020 | Healthcare IT | PPT format

Report Digest


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.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

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

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?