Acumen Research and Consulting, recently published report “Magnetic Resonance Imaging (MRI) Systems Market Size, Share, Growth and Forecast, 2019 - 2026”.

LOS ANGELES, May 08, 2019 (GLOBE NEWSWIRE) -- The global Magnetic Resonance Imaging Systems Market is estimated to grow at CAGR above 6 % over the forecast time frame 2019-2026 and reach the market value around USD 9 billion by 2026.

Increasing geriatric population in the predicted years will drive market growth. The risk of degenerative disk disorders due to various physical changes is increased due to ageing, for instance the development of small spinal disks and the loss of spinal fluids. The increase in the prevalence of chronic disease and awareness of early diagnosis are highly influential.

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Adaptation rate will rise with technological advances in scanners. In the recent past a number of advances have been made, in particular in software that simplified the imaging workflow and reduced scans. GE Healthcare, for instance, launched in September 2016 a multi-contrast resonance technology called MAGiC, to provide medical clinicians with more data than conventional scan technology in a fraction of the time.

The lack of skilled technicians and x-rays for the operation and maintenance of machinery prevents the expansion of the industry. These experts also play an important role in interpreting the doctor's instruction, explaining the procedure to patients and selecting suitable imagery parameters and software options for proper scanning.

Industry Insights

Further restricts the adoption of high costs associated with machines. In addition to the high cost of buying a machine, additional expenses include establishing an MRI suite, patient support areas, installation of machines and maintenance.

The market for magnetic resonance imaging systems was dominated by closed MRI machines in 2016. Configuration of the closed magnet is a tube-like tunnel in which the person who is scanned lies. The advantages of this setup, such as faster scanning times and greater image resolution, lead to the growth of the segment. However, due to the compact nature of the system, it is not possible for the equipment to accommodate large patients and a sense of claustrophobia. To overcome these problems, large bore scanners are being developed.

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In predicted years, the market for low-to-medium MRI scanners will be able to see significant growth. Adoption rates need to be stepped up for benefits such as open design, comparatively lower purchases and operating costs, lower fringe range and tissue energy deposition. The most important market share was played by hospitals as end users. The growing number of hospitals will further expand the fuel segment through the development of healthcare infrastructure.

Germany has a significant industry share in the magnetic resonance imaging system market. The growth of the industry should lead to an increasing proportion of elderly people and chronic diseases. In-service doctors generally advise the RIM test in accident cases to detect and diagnose personal injury. In-service traffic accidents are increasing.

End Use Stance

The market is divided into hospitals, imaging centers and others based on end-use. Currently, the hospital segment has the largest market share and will continue to lead throughout the forecast period. Due to the complicated infrastructure requirements of high field MRI machines, however, they are expected to only be adopted by a number of facilities.

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Due to government initiatives aimed at improving and increasing the number of primary care facilities, it is expected that the APCs will expand at the fastest CAGR during the forecast period. Simple patients and patients in remote areas can benefit from Mobile MRI machines.

Key Players & Strategies

The Magnetic Resonance Imaging Systems market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players are Koninklijke Philips N.V., Hitachi, Sanrad Medical Systems, Fonar Corporation, Toshiba and Neusoft Medical Systems, Siemens, Aurora Imaging Technologies, Esaote SpA and Toshiba.

Industry players have implemented several strategic initiatives to enhance their market position. Strategic initiatives include fusions, procurement and the launch of new products. Toshiba launched a Vantage Galan 3 T MRI system in January 2017, for example. New product launch will encourage growth in the company.

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