Closed MRI Systems Market -Regional Analysis
Based on geography, the ClosedMRI System Market has been segmented into North America, Latin America,Europe, Middle East, Asia Pacific, and Africa. Europe holds the dominantposition in the closed MRI system market over the forecast period, owing tohigh adoption of closed MRI as compared to open MRI. For instance, according toEuropean Magnetic Resonance Forum (EMRF) Foundation, open systems are mostlysold in the U.S., and the market share of open system is limited in Europe.This is creating a demand for closed MRI systems usage in the diagnosis inEurope.
Magnetic resonance imaging (MRI)is a non-invasive medical test that uses powerful magnetic field, radio waves,and a computer to produce detailed virtual image of internal organs of thebody. Closed MRI systems have a tube-like tunnel with magnetic field of around1.5 to 3.0 tesla or above to generate detailed image of the organs. Closed MRIsystem is used in screening and diagnosis of brain, cardiac, spine, breast orabdominal abnormalities. According to European Magnetic Resonance Forum (EMRF)Foundation, the US sale of MRI machine in 2014 / 2015 was approximately 11,500MRI systems for which one quarter is open system and rest are closed systems.The closed MRI system market is expected to witness growth, owing to its advantagesover conventional open MRI and increasing incidence of brain and spinalinjuries.
Closed MRI Systems Market Driver
Advantages of using closed MRIsystems over open MRI systems is expected to be a major factor for growth ofthe market. Closed MRI systems have field strength of 1.5 Tesla and can reachup to 3.0 Tesla, which can give four to five times clearer imaging results ascompared to open MRI system. This advantage of wide range of field strength hasled to increasing use of these systems in lesion detection in multiplesclerosis, nerve visibility for brachial plexus, anatomic structures in thewrist or diagnostic accuracy for hepatic metastases.
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Increasing awareness aboutbenefits of MRI over X-ray and other imaging techniques using harmful radiationis also expected to propel growth of closed MRI system market in the forecastperiod. For instance, over the period of January 2016 to January 2017,3,234,690 patients underwent MRI diagnosis in England. Moreover, increasingnumber of MRI machine installation is expected to enhance the closed MRI systemmarket growth. For instance, in March 2018, G. Greene Construction Co.installed a Siemens 3T MRI at Boston Children’s Hospital. Furthermore, CapeBreton Regional Hospital installed a new MRI unit, in March 2018. Increasingincidences of spinal and brain injuries is also expected to create a conduciveenvironment for growth of the closed MRI market. For instance, according to2017 Spinal Cord Injury factsheet of National Spinal Cord Injury StatisticalCenter (NSCISC), the annual incidence of spinal cord injury in the U.S. is 54cases per million or about 17,500 new cases each year.
Closed MRI Systems MarketRestraint
Owing to its closed structure,several claustrophobic patients suffer from panic attacks during MRI diagnosis.For instance, according to factsheet of 2014 Health Research FundingOrganization, up to 13% of the patients suffer from panic attacks due toclaustrophobia during MRI diagnosis. This is expected to be a major restrainingfactor for growth of the market.
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Furthermore, high cost of closedMRI system is expected to hinder growth of the closed MRI systems market.Moreover, lack of skilled professionals to handle the systems in emergingcountries is a major challenge for growth of the closed MRI system market. In2016, according to the prediction of Global Health Workforce Labor MarketProjections for 2030, global demand for health workers will rise to 80 millionworkers, double the current (2013) while the supply of health workers isexpected to reach 65 million over the same period, resulting in a worldwide netshortage of 15 million health workers. According to World Health Organization(WHO) in 2016, India is lacking with 500,000 doctors. According to the recentstudy findings by Public Health Foundation of India for Ministry of Health andFamily Welfare in 2015, radiography and imaging professionals alone accountsfor 88.7% of skill gap out of 97.9% across various health workforce categories,amounting to a huge shortage of medical laboratory technicians.
Closed MRI Systems Market –Competitive Analysis
Key players in the closed MRIsystems market are Hitachi, Siemens Healthineers, Canon Medical Systems, GEHealthcare, Philips, Aspect Imaging, Bruker, Aurora Imaging Technology andEsaote S.P.A. Various strategies adopted by key players in closed MRI systemmarket are mergers and acquisitions. For instance, in October 2015, Toshibaacquired medical imaging application developer, Olea Medical. The acquisitionis expected to enhance the MRI business of the company by offering Olea’ssoftware for advanced post-processing and image analysis as well as thecompany’s relationships and agreements with research institutions and customerswill aid the MRI business.
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