Magnetic Resonance Imaging (MRI) Market Is Likely To Reach USD 9.34 Billion And CAGR Of 6.5% By 2029

Magnetic Resonance Imaging (MRI) Market study by “Data Bridge Market Research” provides details about the market dynamics affecting the Magnetic Resonance Imaging (MRI) market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favourable competitive landscape and trends prevailing over the years.

Magnetic Resonance Imaging (MRI) Market study by “Data Bridge Market Research” provides details about the market dynamics affecting the Magnetic Resonance Imaging (MRI) market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favourable competitive landscape and trends prevailing over the years.

The reliable Magnetic Resonance Imaging (MRI) report underlines analysis of prime manufacturers, trends, opportunities, marketing strategies analysis, market effect factor analysis and consumer needs by major regions, types, and applications globally. This market research report performs an estimation of the growth rate and the market value based on market dynamics and growth inducing factors. Local, regional as well as global market has been considered here to conduct the market research study of a high-ranking Magnetic Resonance Imaging (MRI) market report. The report can be accessible to the users in the form of PDF or spreadsheet. Moreover, PPT format can also be offered depending upon client’s requirement.

Global magnetic resonance imaging (MRI) market was valued at USD 5.64 billion in 2021 and is expected to reach USD 9.34 billion by 2029, registering a CAGR of 6.5% during the forecast period of 2022-2029. The “closed magnetic resonance imaging (MRI) systems” accounts for the largest architecture segment in the magnetic resonance imaging (MRI) market within the forecasted period owing to the fact that it offers higher and more powerful image quality and throughput. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Some of the major players operating in the magnetic resonance imaging (MRI) market are

  • Siemens (Germany),
  • General Electric Company (US),
  • Koninklijke Philips N.V., (Netherlands),
  • Hitachi Ltd., (Japan),
  • CANON MEDICAL SYSTEMS CORPORATION (Japan),
  • Sanrad Medical Systems Private Limited (India),
  • ESAOTE SPA (Italy),
  • Aspect Imaging Ltd. (Israel),
  • FONAR Corp., (U.S),
  • Shenzhen Anke High-tech Co., Ltd., (China),
  • Neusoft Corporation (China),
  • AURORA HEALTHCARE US CORP (U.S), and 
  • Shenzhen Mindray Bio-Medical Electronics Co., Ltd

 

Recent Developments

  • In November 2020, Siemens launched its smallest and most lightweight whole-body MRI named High-V MRI. The scanner's unique blend of digital technologies, as well as the increased 0.55 tesla field strength, expands the spectrum of clinical applications for MRI scanners. Free of Magnetoms. Max significantly improves pulmonary imaging with MRI and enables for much more accurate scanning of patients with implants.

Drivers

  • Growing Diseases Require Diagnostic Services

The increasing prevalence of chronic diseases along with the rising adoption of diagnostic services are the most significant factor driving the growth for this market. Moreover, the ability of magnetic resonance imaging (MRI) of early detection of various conditions such as the orthopedic and cardiovascular substantially increases the success rates of the treatment that further favors its adoption across the globe and accelerates the overall growth of the market. Furthermore, the expanding senior population, which is more vulnerable to such medical issues, is driving up adoption.

Rising awareness about the benefits of early diagnosis and the advent of MRI-compatible pacemakers will further expand the magnetic resonance imaging (MRI) market's growth rate in the future. Furthermore, the expanding healthcare sector along with the government initiatives to make quality healthcare facilities accessible are also expected to fuel market growth.

Opportunities

  • Various Growth Opportunities will Bolster Market’s Growth

Moreover, the factors such as the discovery of new helium deposits and rising awareness about the benefits of early diagnosis are also projected to offer various growth opportunities to the market. There have been various advancements in MRI techniques, such as open architecture, high-field MRI, superconducting (SC) magnets, and software applications. These technological advancements leading to the replacement of low-field MRI systems with high-field MRI systems are estimated to generate lucrative opportunities for the market. Various technological advances in imaging equipment, such as software upgrades and the use of superconducting magnets compatible with cardiac pacemakers, as well as innovations such as the introduction of 3D and 4D imaging with accelerated processing speed and automated workflow, are providing market growth opportunities.

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Global Magnetic Resonance Imaging (MRI) Market Scope

Type

  • Conventional
  • Bio-based

Process

  • Trans-Esterification
  • Direct Esterification

Field Strength

  • High-Field Magnetic Resonance Imaging (MRI) Systems (1.5t to 3t)
  • Low-To-Mid-Field Magnetic Resonance Imaging (MRI) Systems (<1.5t)
  • Very-High-Field Magnetic Resonance Imaging (MRI) Systems (4t and Above)

Architecture

  • Closed Magnetic Resonance Imaging (MRI) Systems
  • Standard Bore Magnetic Resonance Imaging (MRI)
  • Wide-Bore Magnetic Resonance Imaging (MRI)
  • Open Magnetic Resonance Imaging (MRI) Systems

Application

  • Oncology
  • Neurology
  • Cardiology
  • Gastroenterology
  • Musculoskeletal
  • Other Applications

End Users

  • Hospitals
  • Imaging Centers
  • Ambulatory Surgical Centers
  • Others

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Magnetic Resonance Imaging (MRI) Market Regional Analysis/Insights

The Global Magnetic Resonance Imaging (MRI) Market is analysed and market size insights and trends are provided by country, type, process, field strength, architecture, application and end users as referenced above.

The countries covered in the magnetic resonance imaging (MRI) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the magnetic resonance imaging (MRI) market because of the prevailing advanced healthcare technologies within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rising prevalence of chronic diseases, ever growing geriatric population and increasing personal disposable income within the region.

Major Highlights of TOC:   Magnetic Resonance Imaging (MRI) Market

1   Magnetic Resonance Imaging (MRI) Market Overview

2   Magnetic Resonance Imaging (MRI) Market Competitions by Manufacturers

3   Magnetic Resonance Imaging (MRI) Capacity, Production, Revenue (Value) by Region (2022-2029

4   Magnetic Resonance Imaging (MRI) Supply (Production), Consumption, Export, Import by Region (2022-2029)

5   Magnetic Resonance Imaging (MRI) Production, Revenue (Value), Price Trend by Type

6   Magnetic Resonance Imaging (MRI) Market Analysis by Application

7   Magnetic Resonance Imaging (MRI) Manufacturers Profiles/Analysis

8 Magnetic Resonance Imaging (MRI) Manufacturing Cost Analysis

9 Industrial Chain, Sourcing Strategy and Downstream Buyers

10 Marketing Strategy Analysis, Distributors/Traders

11 Market Effect Factors Analysis

12   Magnetic Resonance Imaging (MRI) Market Forecast (2022-2029)

13 Research Findings and Conclusion

14 Appendix

Browse Detailed Table of Content: https://www.databridgemarketresearch.com/toc/?dbmr=global-magnetic-resonance-imaging-mri-market

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