MRI Systems Market to Witness Growth Acceleration during 2020-2025

Global MRI systems market is poised to gain massive traction over the projected timeframe of 2019 to 2025. This can be attributed to the growing prevalence of chronic diseases, which has in turn escalated the demand for MRI systems across numerous healthcare facilities. As per National Health Council record, 40 million residents of the U.S. suffer from at least one chronic disease annually. Therefore, in order to avoid such scenario, people are inclined on getting diagnosed at early stages, which brings in the requirement for MRI scans.

Rapid technological development coupled with growing integration of smart solutions like AI into MRI systems could enhance MRI systems market outlook. Researchers from all over the world are working on creating an advanced MRI system that could accurately detect complexities inside the human body.

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According to the Centers for Disease Control and Prevention (CDC), China faces a perturbing threat from noncommunicable diseases (NCDs) that account for an estimated 82% of China’s disease burden. As a result, the local government has roll out favorable regulatory policies for MRI systems and enhance healthcare infrastructure.

Open systems segment is estimated to register a growth rate of 5% over the forecast timeframe. This growth can aptly be credited to their less enclosed structure which reduces anxiety and claustrophobia and offers great comfort to the patients. Further, with technological advances, new open MRI systems have been developed which can be tilted and provide scans in standing position which is beneficial in diagnosing complicated conditions while putting the patients at ease.

China MRI systems market has secured a substantial revenue share of 56% in Asia Pacific region and is expected to witness a considerable growth over the coming years. This can be credited to the elevating product demand due to rising geriatric population who are susceptible to chronic bone diseases such as osteoporosis and arthritis. Moreover, supportive regulatory scenario that  lower the entry barriers for new players will positively influence the industry growth in the country.

Prominent industry players operating in MRI systems market such as Philips N.V., Hitachi, Koninklijke, GE Healthcare, Toshiba and Siemens are implementing effective business strategies such as new product launches, mergers and acquisitions to gain a competitive edge in the market. For instance, in 2016, Hitachi announced its collaboration with Ningbo Jansen NMR Technology for jointly developing a high-end MRI magnet. Apparently, this agreement enabled the company to expand its MRI business and provided a strong presence in the market.

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Partial Chapter of the Table of Content

Chapter 4. MRI Systems Market, By Architecture

4.1. Key segment trends

4.2. Open

4.2.1. Market size, by region, 2014-2025 (USD Million, Units)

4.3. Closed

4.3.1. Market size, by region, 2014-2025 (USD Million, Units)

Chapter 5. MRI Systems Market, By Field Strength

5.1. Key segment trends

5.2. High to Ultra High (>1.5T)

5.2.1. Market size, by region, 2014-2025 (USD Million, Units)

5.3. Low to Medium (<1.5T)

5.3.1. Market size, by region, 2014-2025 (USD Million, Units)

Chapter 6. MRI Systems Market, By End-use

6.1. Key segment trends

6.2. Hospitals

6.2.1. Market size, by region, 2014-2025 (USD Million, Units)

6.3. Others

6.3.1. Market size, by region, 2014-2025 (USD Million, Units)

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