The global Magnetic Resonance Imaging market is anticipated to grow at a considerable CAGR during the forecast period (2020-2026). MRI is utilized to detect human conditions and diseases through radio waves and large magnets by looking at organs. These systems are utilized majorly to examine brain tumors, spinal cords, blood vessel areas, as well as several other conditions.
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The growth of the market is attributed to the increasing adoption of diagnostic devices in developed as well as developing economies and technological advancements in MRI systems. Increasing lifestyle-oriented diseases such as cancer, cardiovascular diseases (CVD), coronary heart disease (CHD) have resulted in increased demand for MRI systems across the globe and hence driven the global magnetic resonance imaging (MRI) industry growth.
Furthermore, the increasing adoption of MRI systems in emerging economies is one of the major factors stimulating the growth of the market. Emerging markets are widely recognized as one of the important growth areas for medical devices, such as MRI. These markets are witnessing significant growth, in terms of the middle-class population, increased access to care, and new feature versus price trade-offs. Thus, large and mid-size companies are focusing on investing in these countries.
Emerging economies, such as China and India, are providing growth opportunities for the market studied. In these regions, new sales are expected to be fueled by the rapid uptake of less expensive MRI systems. This is expected to provide access to healthcare in the majority of the remote areas of these price-sensitive economies. In Asia-Pacific, the increasing healthcare expenditure is also enabling physicians to diagnose a wide range of diseases, primarily through MRI and CT, particularly for cancer examinations, which is eventually boosting the market growth.
Market Coverage
- Market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- by Architecture, Application, and Field Strength
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Siemens AG, Canon Medical Systems Corp., Inc., GE Healthcare; Hologic, Inc; Fonar Corp.; and Koninklijke Philips N.V.
Global Magnetic Resonance Imaging Market Report Segment
By Architecture
- Closed MRI Systems
- Open MRI Systems
By Application
- Oncology
- Neurology
- Cardiology
- Gastroenterology
- Musculoskeletal
- Others
By Field Strength
- Low-To-Mid-Field MRI Systems (<1.5t)
- High-Field MRI Systems (1.5t to 3t)
- Very-High-Field MRI Systems (4t and Above)
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
