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Global MRI Systems Market Forecasts (2016-2021)

Global MRI Systems Market by Architecture (Open MRI, Closed MRI), by Field Strength (Low -to mid -Field, High Field, Very High Field, Ultra High Field), by Application (Brain, Spine, Cardiac, Abdominal, Breast), and by Region – Industry Analysis, Share, Size, Growth, Trends, and Forecasts (2016-2021).
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Global MRI Systems Market was worth USD 5.61 billion in 2016 and is expected to reach USD 7.19 billion by 2021 with a CAGR of 5.1 %.

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MRI is a scan which uses magnetic field and pulses from Radio wave energy to take pictures of internal parts of our body. MRI can show problems that weren’t seen by other imaging methods. MRI is a powerful technique that is used for identifying problems in various tissues.

Recently, Technology is advanced to the point that MRI is used in combination with X-Ray or some other powerful imaging method which is known as Hybrid MRI. MRI is mainly used for finding problems like tumors, injury, Bleeding, Blood Vessel Diseases, or Infection. It is also used to see a problem encountered on x-ray or CT scan. MRI can take pictures of Head, Spine, Brain, Abdominal, cardiac and blood vessels and find the diseases or any problems associated with them.

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There are many factors driving this market, like increase in aging population, developments in MRI techniques, Developing Markets, open architecture, Ultra High Field MRI and software Applications, and development of MRI compatible pacemakers. But some of the factors like high cost of MRI systems, draining helium gas deposits, declining reimbursement rates, lack of skilled labor and complexity of machines are restraining the market.

The MRI Systems market is segmented based on field strength, Architecture, and Application. Based on field Strength, MRI Systems are further Segmented into low to mid field, High Field, Very High Field, Ultra High Field. Based on Architecture, market is further segmented in to Open MRI, Closed MRI. Based on Application, market is further segmented into Brain, Spine, Cardiac, Breast and Abdomen. In this market, Brain and Neurological MRI holds the highest share owing to rise in geriatric population and rise in early awareness levels. Ultra-high Field Strength is the fastest growing segment. High Field Strength is the most commonly used field strength in market because of increase in replacements and increasing adoption of advanced products. Based on Geography, this market is further segmented in to North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. North America has the largest share followed by Asia-Pacific. Asia-Pacific will be fastest growing region because of increase in spending limit.

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Market Segmentation

Field Strength

• Introduction

• low to mid field

• High Field

• Very High Field

• Ultra High Field

Architecture .

• Introduction

• Open MRI

• Closed MRI

• Y-o-Y Growth Analysis, By Type


• Introduction

• Brain

• Cardiac

• Abdominal

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Scope of the report:

• Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

• Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail

• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

• Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

• Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

• A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

• An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

• Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

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