Overview

MRI Systems Market is estimated to value over USD 7.6 billion by 2027 end with a CAGR of over 3.7% during the forecast period 2020 to 2027.

Technological advancements in MRI like open architecture, superconducting magnets, high-field MRI, increased adoption amongst research laboratories, academic institutes, physicians and hospitals are some factors responsible for the MRI systems market growth. Furthermore, the emergence of pacemakers that are compatible with MRIs shall substantially bolster the proliferation of the market. However, the MRI systems are expensive, thereby increasing the treatment cost and it can induce permanent damage to implantable devices line ICDs and pacemakers which shall impede the market growth to a certain extent. Furthermore, a lack of skilled professionals for handling advanced MRI systems shall pose an impounding challenge to the augmentation of the market. Many companies are expanding their businesses in emerging nations like China, thereby providing lucrative growth opportunities for the market.

MRI Systems Market

MRI Systems Market Segmentation:

By Architecture
•   Closed MRI Systems
•   Standard Bore MRI
•   Wide Bore MRI
•   Open MRI Systems
By Field Strength
•   High Field MRI Systems
   o 1.5T MRI systems
   o 3T MRI systems
•   Low to Mid Field MRI Systems
•   Very High Field MRI Systems
By Region
•   North America
•   Europe
•   Asia Pacific
•   Latin America
•   Middle East & Africa

The market is fragmented into architecture, field strength and region. The architecture segment is classified into closed MRI systems, standard bore MRI, wide bore MRI and open MRI systems. The closed MRI systems segment is predicted to hold the largest MRI systems market share owing to its capability of producing images of high throughput and quality. The field strength is classified into high field MRI, low to medium field MRI and very high field MRI system. The very high field MRI system segment is anticipated to lead the market owing to extensive research activities conducted in MRI systems.
Regional Analysis:
The Asia Pacific region is projected to dominate the market during the forecasted timeframe owing to growing foreign direct investment in developing nations like India, increasing geriatric population along with soaring patient population in the region.

Competitive Landscape:
Some of the key market players associated are HOYA Group PENTAX Medical, FUJIFILM Medical Systems U.S.A. Inc., Olympus America Inc., Erbe USA, CREATE MEDIC CO. LTD. etc, Covidien, Ethicon EndoSurgery Inc., Stryker, Karl Storz.

FutureWise Key Takeaways:
•   Growth prospects
•   SWOT analysis
•   Key market trends
•   Key data-points affecting market growth

Objectives of the Study:
•   To provide with an exhaustive analysis on the global MRI systems market by architecture, by field strength and by region
•   To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•   To evaluate and forecast micro-markets and the overall market
•   To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East and Africa
•   To record, evaluate and analyze competitive landscape mapping- product launches, technological advancements, mergers and expansions

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