An emerging market analysis titled “Anticipated Trends, Drivers of Growth, and Obstacles in the Magnetic Resonance Imaging (MRI) Market” has been showcased on Report Ocean.
The “Global Magnetic Resonance Imaging (MRI) Market” report offers comprehensive insights into factors affecting demand, growth, opportunities, challenges, and limitations. It covers global and regional industry dynamics, including research & development, new product launches, and responses from leading players in both global and local markets. The report provides visual representations and regional breakdowns of the Magnetic Resonance Imaging (MRI) Market.
Obtain a comprehensive report on the Magnetic Resonance Imaging (MRI) Market, which includes a full table of contents, over 200 tables and figures, and charts. The report provides precise information on the market before and after the COVID-19 outbreak, segmented by region.
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What’s the extent of the Global Magnetic Resonance Imaging (MRI) Market in terms of size?
Global Magnetic Resonance Imaging (MRI) Market is valued at approximately USD 7.65 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 3.9% over the forecast period 2022-2029.
What is Magnetic Resonance Imaging (MRI)?
Magnetic Resonance Imaging (MRI) is important healthcare machine for identifying diseases related to spine lesions, tumors, and strokes impacting the area of vascular system and the brain. The market is growing due to the rising number of diseases. For instance, the International Agency for Research on Cancer estimates that there were 19,292,789 new cancer cases worldwide in 2020. Additionally, the adoption of MRI machines is anticipated to be aided by the growing need for fast and accurate diagnostic treatments. These MRI machines are being installed in several countries. According to the OECD, there were 34.54 MRI units installed in the United States per million population in 2020. Also, rising geriatric population will create lucrative demand for the market during forecast period.
According to World Health Organization, the number of people aged 60 and older will rise from 1 billion in 2020 to 1.4 billion in 2021. The number of persons in the world who are 60 years or older will double by 2050. (2.1 billion). Between 2020 and 2050, the number of people aged 80 or older is projected to triple, reaching 426 million. As a result, the rise in geriatric population would create lucrative demand for the market. Also, hybrid MRI systems would create lucrative opportunities for the market during forecast period. However, the high cost of Magnetic Resonance Imaging (MRI) stifles market growth throughout the forecast period of 2022-2029.
Which regions are considered in the Global Magnetic Resonance Imaging (MRI) Market study?
The key regions considered for the Global Magnetic Resonance Imaging (MRI) Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the growing incidence of chronic diseases in this region, which includes cardiovascular disorders, breast cancer, and neurological diseases creating a demand for imaging analysis. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising geriatric population and rising demand for advanced imaging modalities which would create lucrative growth prospects for the global Magnetic Resonance Imaging (MRI) Market across the Asia Pacific region.
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Major market players included in this report are:
- Barco N.V.
- General Electric Company (GE Healthcare)
- Hitachi, Ltd. (Hitachi Medical Corporation)
- Hologic Inc.
- Koninklijke Philips N.V.
- Nordion Inc.
- Onex Corporation (Carestream Health)
- Shimadzu Corporation
- Siemens AG (Siemens Healthcare)
- Toshiba Corporation (Toshiba Medical Systems Corporation)
Recent Developments in the Market:
At the 2021 Radiological Society of North America, Fujifilm Healthcare Americas Corporation announced Velocity MRI System, a cutting-edge, high-field open MRI system (RSNA). The Velocity MRI system is Fujifilm’s most current MRI scanner, and with its recreating gantry, built-in radiofrequency (RF) coils, and reconstruction technologies, it is designed to enhance patient experience and streamline workflow.
In 2021, Hitachi announced the launch of two new permanent open MRI systems at the start of the 2021 European Congress of Radiology. High-speed tests with motion-free images, simple setup and use for quick image return, and an open design that optimizes patient comfort are all features of the APERTO Lucent Plus Open MRI.
Global Magnetic Resonance Imaging (MRI) Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Architecture, Field Strength, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Architecture offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
By Architecture:
Closed MRI Systems
Open MRI Systems
By Field Strength:
Low Field MRI Systems
High Field MRI Systems
Very High Field MRI Systems
Ultra-high MRI Systems
By Application:
Oncology
Neurology
Cardiology
Gastroenterology
Musculoskeletal
Other Applications
By Region:
North America: U.S., Canada
Europe: UK, Germany, France, Spain, Italy, Rest of Europe (ROE)
Asia Pacific: China, India, Japan, Australia, South Korea, Rest of Asia Pacific (RoAPAC)
Latin America: Brazil, Mexico, Rest of Latin America (RoLA)
Rest of the World
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Report Overview:
This research offers a comprehensive exploration of the emerging trends poised to shape the future business landscape. It delves deep into the pivotal factors driving the growth of the Magnetic Resonance Imaging (MRI) market over the projected period. Furthermore, the report sheds light on strategic initiatives undertaken by leading industry players to fortify their market positions.
Market Dynamics:
Encompassing a global perspective, this study presents insights into the influential entities within the worldwide Magnetic Resonance Imaging (MRI) market. It encompasses contact details, sales figures, and global market estimates. The research draws from reputable sources and institutions, aggregating a wealth of information and insightful analysis pertaining to the global Magnetic Resonance Imaging (MRI) market.
Marketing Insights:
The study furnishes essential facts and statistics relevant for marketers, consultants, and decision-makers navigating the global Magnetic Resonance Imaging (MRI) market landscape. With comprehensive regional breakdowns, this research offers a vital resource for newcomers venturing into the global Magnetic Resonance Imaging (MRI) market. It encapsulates indispensable insights extracted from the Magnetic Resonance Imaging (MRI) Market domain, facilitating informed decision-making processes.
This report covers several key questions related to the global Magnetic Resonance Imaging (MRI) market, including:
- What can be expected for the Magnetic Resonance Imaging (MRI) market in the next decade?
- What are the primary drivers of growth in the global Magnetic Resonance Imaging (MRI) market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Magnetic Resonance Imaging (MRI) market vary based on the size of the end market?
- What is the breakdown of Magnetic Resonance Imaging (MRI) by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Magnetic Resonance Imaging (MRI) market?
Our most recent research report showcases the thriving expansion of the global Magnetic Resonance Imaging (MRI) Market and offers in-depth insights into the projected market size, share, and revenue until 2031.
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