The global Magnetic Resonance Imaging was valued at US$ 6.14 Bn in 2018 and is expected to reach US$ 7.55 Bn by the end of the forecast period, growing at a CAGR of 4.2% during the period from 2018 to 2023. Browse industry intelligence content at: Full Report Link — https://inforgrowth.com/report/1402662/magnetic-resonance-imaging-market
The global Magnetic Resonance Imaging market is projected to witness a significant growth rate in the coming years until 2023. This technique is preferred as a diagnostic tool for diseases and disorders such as tumours, diseases related to the nervous system, spine lesions, and stroke affected areas in blood vessels and brain. The growing number of geriatric population and rising number of chronic diseases are the major factors driving the growth of the market. In addition to these, advancements in techniques/technologies such as software upgrades, superconducting magnets, and open systems are also triggering the overall market growth.
Further, gadolinium-DTPA, which is a paramagnetic contrast agent, is used as an intravenous injection in order to give accurate, sharp, and precise images within the duration of 20 minutes to 1 hour. The rising number of road accidents that result in injuries and severe complications is also augmenting the overall market growth. Spine and musculoskeletal injuries also increase the demand for magnetic resonance imaging systems in order to have better scans. Therefore, these technical advancements and rapid adoption of these systems are driving the global magnetic resonance imaging market. However, the high cost associated with these devices and their servicing and proper maintenance, are slowing down the market growth. Additionally, stringent regulations that cause delay in product approval is hindering the market growth over the years.
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Key Companies Analysis: The notable players operating in this industry include Siemens AG, GE Healthcare, Koninklijke Philips N.V., Toshiba Corporation, Aurora Imaging Technologies, Inc, Hitachi Medical Systems America, Inc., Esaote SpA, Sanrad Bruker Corporation, Medical Systems Pvt. Ltd., and Neusoft Medical Systems Co. Ltd., among others.
Recent Developments in the Market:
Asia-Pacific: In April 2017, Toshiba medical demonstrated the Vantage Galan 3T at 2017 International Society for Magnetic Resonance in Medicine (ISMRM). With advanced applications that include neuro, musculoskeletal (MSK), abdominal, cardiovascular, breast and prostate, the Vantage Galan 3T is designed to increase signal-to-noise ratio (SNR) by up to 20 percent. This allows for faster sampling and higher resolution images.
Neurology: In Feb 2019, Canada's first 7-Tesla whole-body magnetic resonance imaging scanner has been installed that will see the nervous system in microscopic details. The new MRI scanner is capable of taking high resolution images. The introduction of the whole-body 7T MRI to The Neuro (Montreal Neurological Institute and Hospital) of McGill University will give researchers an unprecedented window into the effects of neurological diseases not only on the brain but also on the entire human nervous system.
Siemens Healthineers: In Dec 2018, Siemens Healthineers introduced the Magnetom Altea 1.5 Tesla (1.5T) magnetic resonance (MR) scanner that is equipped with BioMatrix patient personalization technology. The Magnetom Altea has a wide 70-cm bore and BioMatrix technology that includes the Select&Go Interface, powered by artificial intelligence (AI), to enhance workflow productivity.
Key Questions Answered in the Report:
• What is the market value of the overall market and its segments?
• What are the key segments and sub-segments in the market?
• Which is the largest sub-segment in each segment in the scope of the study?
• What are the key drivers, restraints, opportunities, and challenges in the market and how are they expected to impact the market?
• What are the attractive segments and geographies to invest in?
• What is the market value at the regional and the country level?
• Who are the key market players and their key competitors?
• Who are the key market players at different stages of the value chain?
• What are the strategies for growth adopted by the key players in the market?
• How does a particular company rank against its competitors with respect to revenue, profit comparison, operational efficiency, cost competitiveness, and market capitalization?
• How financially strong are the key players in the market (on the basis of revenue and profit margin, market capitalization, expenditure analysis, investment analysis)?
• What are the recent trends in the market? (M&A, partnerships, new product developments, expansions)
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Related Reports on Magnetic Resonance Imaging Market:
Global Magnetic Resonance Imaging Market Summary Report
Global Magnetic Resonance Imaging Market Segmentation Report
Global Magnetic Resonance Imaging Market Regional Report
Global Magnetic Resonance Imaging Market Competitive Intelligence & Company Profiles Report
Global Magnetic Resonance Imaging Market Statbook
Release ID: 492680