Magnetic Resonance Imaging Systems Market

According to latest research report "Magnetic Resonance Imaging (MRI) Systems Market by Architecture (Open MRI Systems and Closed MRI Systems (Standard Bore and Wide Bore)), Field Strength (Low-to-mid Field, High-field (1.5T and 3T), and Very-high Field) - Global Forecast to 2027", the market is expected to reach $8.01 billion by 2027 from an estimated $5.85 billion in 2018, at a CAGR of 3.6%. The key factors driving the growth of this market include technological advancements leading to the increased adoption of high-field MRI systems, growing geriatric population, and the discovery of new helium deposits.

Browse 141 market data Tables and 33 Figures spread through 158 Pages and in-depth TOC on "Magnetic Resonance Imaging (MRI) Systems Market"

The closed MRI systems segment held the largest share of the MRI Systems Market in 2018

Based on architecture, the MRI systems market is segmented into closed and open MRI systems. The closed MRI segment is further divided into standard bore and wide bore MRI systems. In 2018, the closed MRI systems segment accounted for the largest share of the MRI systems market. The large share of this segment can be attributed to the superconducting magnets used in these systems to obtain higher image quality and throughput. The wide bore closed MRI segment is also expected to grow at the fastest rate during the forecast period owing to its patient-friendly design that accommodates larger patients.

By field-strength, very-high-field MRI systems to grow at the highest rate during the forecast period

The MRI systems market is segmented by field strength into high-field (1.5T and 3T), low-to-mid field (<1.5T), and very-high-field (4T and above) MRI systems. The very-high-field (4T and above) MRI systems segment is expected to register the highest CAGR during the forecast period. Growth in this market can be attributed to the recently (October 2017) received FDA and CE mark approval of the first 7T MRI system.

Asia Pacific dominated the MRI Systems Market in 2018

In 2018, Asia Pacific is accounted for the largest share of the MRI systems market, followed by Europe. Factors such as high geriatric population, increasing FDI (enabling local and foreign MRI manufacturers to invest in MRI development projects), improving healthcare infrastructure, increasing disposable incomes, and rising demand for high-field MRI equipment in several APAC countries contributed to the high share of Asia Pacific in the global MRI Systems market.

The major players in the global MRI systems market are Siemens Healthineers (Germany), GE Healthcare (US), Phillips (Netherlands), Hitachi (Japan), and Canon Medical Systems (Japan).

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