MRI Systems Market Competitive landscape analysis 2018-2023

Market Overview:
In the year 2018 Global MRI Systems Market was valued at USD 6.2 billion. By the year 2023, it is predicted to reach USD 7.95 billion with pace of 5.1% CAGR.

Magnetic resonance imaging (MRI) is integrated healthcare equipment which is used for imaging internal parts of human body. MRI scan device uses magnetic field, radio waves, and a computer to produce images of internal parts. MRI is mainly used for diagnostics imaging of central nervous system for detecting brain tumors, imaging blood vessels and liver diseases.

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Factors affecting market growth:
• Increasing adoption of MRI systems in hospitals, clinics, and diagnostic centers globally. (+)
• Rising aging population across the globe. (+)
• Increasing of chronic diseases like cancer, respiratory diseases and rheumatoid arthritis. (+)
• Improving healthcare facilities and infrastructure. (+)
• Increasing healthcare expenditures. (+)
• Advancement of technologies in medical industry. (+)
• Introduction of new MRI scan products. (+)
• High cost involved for implementing MRI equipment. (-)
• Lack of skilled professionals. (-)

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Market Segmentation
The Global MRI Systems Market is segmented on the basis of
Field Strength
• Low to mid field
• High Field
• Very High Field
• Ultra High Field
Architecture
• Open MRI
• Closed MRI
Application
• Brain
• Cardiac
• Abdominal
• Spine
• Breast

Based on Application, Brain and Neurological MRI holds the highest share due to increasing of geriatric population and rise in early awareness levels. Besides, Ultra-high Field Strength is expected as the fastest growing segment in the global MRI systems market during the forecast period.

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Key players:
Leading companies for global MRI systems market are Esaote S.P.A, Neusoft Medical System, Aurora Medical Imaging, Philips Healthcare, Hitachi Medical Corporation, Toshiba Medical Systems, Siemens Healthcare, GE Healthcare, Imris Inc., and Fonar Corporation.

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