HOME Top Market Reports Magnetic Resonance Imaging (MRI) Market by Architecture (Closed & Open MRI), Field Strengths (Low, Medium, High, Very & Ultra High Field Strength) & by Applications (Brain & Neurological, Vascular, Pelvic & Abdominal & Vascular) - Global Forecast To 2020

Magnetic Resonance Imaging (MRI) Market by Architecture (Closed & Open MRI), Field Strengths (Low, Medium, High, Very & Ultra High Field Strength) & by Applications (Brain & Neurological, Vascular, Pelvic & Abdominal & Vascular) - Global Forecast To 2020

By: marketsandmarkets.com
Publishing Date: March 2015
Report Code: UC 1206

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MRI is an imaging technique designed to visualize internal structures of the body using magnetic and electromagnetic fields which induce a resonance effect of hydrogen atoms. The electromagnetic emission created by these atoms is registered and processed by a dedicated computer to produce the images of the body structures.

The global MRI market will be valued at $5,338.0 million in 2015 and is poised to reach $6,802.7 million by 2020 at a CAGR of 5%. The growth of this market is propelled by increasing pool of ageing population and technology advancements such as superconducting (SC) magnets, open architecture, high-field MRI, and software applications. Additionally, the advent of MRI-compatible pacemakers will significantly increase the number of patients eligible for MRI procedures. Rapid technological advancements with the introduction of MRI-compatible pacemakers and digital broadband scanners drive the market. A major factor driving the MRI market from the demand side is growing population in developing nations and rapidly aging population in developed countries. But the high cost of MRI systems is expected to restraint the growth of this market during the forecast period.

Recently, MRI is the most preferred imaging method for diagnosis, prognosis and intervention of MSK disorders and spinal injuries as it is non-invasive and offers high-resolution anatomy images with unparalleled tissue contrast. Hence, the spine and musculoskeletal MRI segment is expected to grow at a highest CAGR over the forecast period.

High field strength segment of the MRI is expected to dominate the market in the forecast period. They are used in systems including pulmonary and peripheral MR angiography, as well as imaging of the brain, heart, abdominal, pelvic areas, and bones and joints. The high growth of this segment can be attributed to is growing need of better resolution images to facilitate better healthcare system.

North America (comprising the U.S. and Canada) accounted for the largest share of the global MRI market in 2015. Factors such as ageing population, well established healthcare system, growing awareness about healthcare, and technological advancements are driving the growth of this region. However, high market penetration and declining medicare reimbursement rates for MRI exams are the major factors restraining the growth of this market. The major players in the global MRI include GE Healthcare (U.K.), Hitachi Medical Systems (Japan), Philips Healthcare (U.S.), Siemens Healthcare (Germany), and Toshiba Medical Systems (Japan).

Scope of the Report

This research report categorizes and analyzes the global MRI market on the basis of architectures, field strengths, applications, and geography. These markets are further divided into segments and sub-segments at geography level to provide exhaustive value market analysis for the years 2013, 2014, 2015, and forecast to 2020. Each market is comprehensively analyzed at a granular level by geography (North America, Europe, Asia, and Rest of the World) to provide in-depth information on the global scenario.

This report is a comprehensive study of current trends in the market, industry growth drivers, and restraints. This report includes analysis of recent developments in this technology and detailed profiles of top 10 industry players.

Table of Contents

     1.1 Objectives of the Study
     1.2 Definition
     1.3 Market Scope
             1.3.1 Markets Covered
             1.3.2 Years Considered in The Study
     1.4 Currency
     1.5 Limitations
     1.6 Stakeholders

2.Research Methodology
     2.1 Market Size Estimation
     2.2 Market Crackdown & Data Triangulation
     2.3 Market Share Estimation
             2.3.1 Key Data Points Taken From Secondary Sources
             2.3.2 Key Data Points From Primary Sources
               Key Industry Insights
     2.4 Assumptions

3. Executive Summary

4. Premium Insights

5. Market Overview
     5.1 Introduction
     5.2 Evolution
             5.2.1 Commercially Available Products
     5.3 Market Segmentation
             5.3.1 MRI Market By Architecture
             5.3.2 MRI Market By Field Strength
             5.3.3 MRI Market By Technology
             5.3.4 MRI Market By Application
     5.4 Market Dynamics
             5.4.1 Drivers
             5.4.2 Restraints
             5.4.3 Opportunities
             5.4.4 Challenges
     5.5 Regulatory Landscape
     5.6 Reimbursement Scenario
     5.7 Burning Issues
     5.8 Winning Imperatives

6.Industry Insights
     6.1 Introduction
     6.2 Value Chain Analysis
     6.3 Industry Insights
             6.3.1 Trend Analysis-Pricing & Installations
             6.3.2 Technology Roadmap
     6.4 Porterís Five Forces Analysis
             6.4.1 Threat From New Entrants
             6.4.2 Threat From Substitutes
             6.4.3 Bargaining Power of Suppliers
             6.4.4 Bargaining Power of Buyers
             6.4.5 Intensity of Competitive Rivalry
     6.5 Strategic Benchmarking

7.MRI Market, By Architecture
     7.1 Closed MRI Systems Market
     7.2 Open MRI Systems Market

8.MRI Market, By Field Strength
     8.1 Low To Mid-Field MRI Systems
     8.2 High-Field MRI Systems
     8.3 Very High-Field MRI Systems

9.MRI Market, By Application
     9.1 MRI for Brain & Neurological Disorders
     9.2 MRI for Spine
     9.3 MRI for Extremity
     9.4 MRI for Vascular
     9.5 MRI for Pelvic & Abdominal
     9.6 Breast MRI
     9.7 Cardiac MRI
     9.8 Others

10.Geographic Analysis
       10.1 North America
                 10.1.1 U.S
                 10.1.2 Canada
       10.2 Europe
                 10.2.1 Germany
                 10.2.2 France
                 10.2.3 U.K.
                 10.2.4 Italy
                 10.2.5 Spain
                 10.2.6 Turkey
                 10.2.7 ROE
       10.3 Asia-Pacific
                 10.3.1 Japan
                 10.3.2 China
                 10.3.3 India
                 10.3.4 Rest of Asia (ROA)
       10.4 Rest of The World (ROW)
                 10.4.1 Brazil
                 10.4.2 Rest of ROW

11.Competitive Landscape
       11.1 Overview
       11.2 Market Share of Major Players
       11.3 Competitive Situation and Trends
                 11.3.1 New Product Launch
                 11.3.2 Mergers & Acquisitions
                 11.3.3 Agreement/Partnership/Collaboration
                 11.3.4 Expansion
                 11.3.5 Other Developments

12.Company Profiles (Overview, Financials, Products & Services, Strategy, and Developments)*#
       12.1 Introduction
       12.2 Aurora Imaging Technology
       12.3 Esaote S.P.A
       12.4 Fonar
       12.5 GE Healthcare
       12.6 Hitachi Medical Corporation
       12.7 IMRIS, Inc
       12.8 Philips Healthcare
       12.9 Siemens Healthcare
       12.10 Neosoft Corp
       12.11 Toshiba Medical Systems Corporation

*Top 10 companies in the market will be covered
#Details on Financials, Product & Services, Strategy, & Developments might not be captured in case of unlisted companies.


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