Magnetic Resonance Imaging Market Growth Outlook, COVID-19 Impact, Trends Analysis, Sales Statistics and Size Projection By 2023

Magnetic Resonance Imaging (MRI) Systems Market Information: By Type (Open MRI and Close MRI), Field Strength (High-Field MRI Systems), Disease Application (Brain and Neurological MRI), and by End-Users (Hospitals & Clinics) – Global Forecast Till 2023

Magnetic Resonance Imaging Market Overview

The advancements in imaging services are appraised to bolster the magnetic resonance imaging market. The medical device reports are prepared by Market Research Future, which includes magnetic resonance imaging market options for development. A 3.5% CAGR is anticipated to bolster the earning potential to USD 5 Billion in 2023.

The soaring interest in research and development activities in the life sciences sector is foreseen to offer lucrative options for diagnostic imaging services market development in the upcoming period. The use of advanced methods in drug discovery processes and preclinical research is further anticipated to spur the magnetic resonance imaging market share.

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Magnetic Resonance Imaging Market Segmental Review

The segmental evaluation of the magnetic resonance imaging market is conducted on the basis of field strength, type, disease application, region, and end-user. Based on the end-user, the MRI market is segmented into hospitals and clinics, pharmaceutical &biotechnology companies, research laboratories and diagnostic imaging centers. Based on the field strength, the MRI market is segmented into 1.5t MRI systems, low-to-mid-field MRI systems 3t MRI systems, high-field MRI systems, very-high-field MRI systems, and others.

On account of disease application, the market for MRI systems is segmented into brain & neurological MRI, breast MRI, pelvic & abdominal MRI, spine & musculoskeletal MRI, cardiovascular MRI, and others. On the basis of regions, the market for MRI systems is segmented into the Middle East, Americas, Europe, Africa, and the Asia Pacific. Based on the type, the market for MRI systems is segmented into closed MRI, standard bore MRI, open MRI, and wide-bore MRI.

Magnetic Resonance Imaging Market Detailed Regional Insights

The regional scrutiny of the Magnetic Resonance Imaging Market comprises of the Middle East, Americas, Europe, Africa, and the Asia Pacific. The Americas MRI market governs the market because of the growing occurrence of neurological, cardiovascular, and ophthalmic illnesses relating to increasing geriatric inhabitants, which is a chief factor. Furthermore, factors such as mounting demand for precise diagnosis, consciousness about adverse effects of radiation imaging, growing government advantages and capital for research in the medical devices sector, competency to deliver in-depth images of soft tissues, and vascular systems are promoting the regional MRI market.

The European regional MRI Industry has the second leading market and holds a strong share in the global MRI market due to the accessibility to progressive treatment facilities, collective healthcare spending, suitable healthcare infrastructure, and prosperous medical device industry owing to the occurrence of key market companies. The Asia Pacific market for MRI systems is projected to be the fastest increasing market with the most encouraging growth possibilities.

Magnetic Resonance Imaging Market Competitive Outlook

The prerequisite for sustainability in the MRI market is projected to be formed by renewing the open cash movements. The end-users in the market are estimated to show variety in terms of the preference in the coming period. The decrease in supply chain bottlenecks is appraised as a primary objective that challengers in the market are assessed to tackle urgently in the forecast period.

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The MRI market is estimated to open up to new and lucrative opportunities for expansion in the forecast period. The contenders for the majority share are predicted to transform the market backdrop considerably in the forecast period. The government bodies of several countries are likely to play a central role in the revitalization of the global market, post the deceleration seen in the aftermath of the pandemic. The markets are estimated to conduct more of their business dealings online than in brick and mortar stores.

The fundamental companies in the Magnetic Resonance Imaging Market are Siemens AG, Canon Medical Systems, Hitachi, Aurora Imaging Technologies, Inc., GE Healthcare, Philips, Toshiba Corporation and Xingaoyi.

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