Magnetic Resonance Imaging (MRI) Machines Market is valuedaround USD 6.55 Billion in 2019 and expected to reach USD 11.68 Billion by 2030with the CAGR of 5.4% over the forecast period.
MRI machine is used for themedical imaging in radiology to study the detail analysis of human anatomy witheffective diagnosis of various disorders. It is a non invasive procedure whichuses the strong magnetic waves to obtain the anatomical image for analysis. Itis one of the least detrimental and versatile diagnostic procedures. Forfurther detailed study of organs sometimes contrast agents are given to thepatient intravenously or orally which are safer than as compared to CT andX-ray contrast. Patients with medical implants such as pacemaker and other mayhave some difficulties during MRI scan. Market players are aggressively workingfor the development of implant friendly MRI machine.
Global MagneticResonance Imaging (MRI) Machines Market report is segmented on the basis ofarchitecture, field strength, application and by regional. Based upon architecture,the MRI machine market is fragmented into open MRI machines and closed MRImachines. Based on field strength, the market is fragmented into Low field MRI,High field MRI, and Ultra high Field MRI. On the basis of application, themarket is divided into Orthopedic, Spine, Neurology, Cardiovascular, Head andNeck, Abdominal & Prostate, and Others. The regional bifurcation ofcountries includes North America, Europe, Asia-Pacific, and RoW which arefurther segmented into major countries such as U.S., UK, France, and others.
The Magnetic ResonanceImaging (MRI) Machines market is mainly driven by the high prevalence rate ofvarious disorders such as orthopedic, neurological, cardiovascular, abdominaldisorders which indirectly increased the demand for MRI scans for better andaccurate diagnosis. Moreover, wide application with rising geriatric populationalong with the amplification in trauma cases is likely to propel the marketgrowth. In addition, constant innovation with technological advancement is alsoexpected to positively affect the market growth. However, high cost of the MRImachines as well as lack of proper reimbursement policies in the developingeconomies are expected to restrain the market growth.
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The developed regions suchas North America and Europe are expected to hold the major market share owingto the presence of major market players in the region with innovation.Moreover, growing technological advancement along with the well developedhealthcare facilities & infrastructure. Moreover, Asia Pacific is expectedto dominate the MRI machine market in terms of growth rate owing to the rise ingeriatric population and amplification in trauma cases with high demand ofaccurate diagnosis. Moreover, rapid development of healthcare facilities withwide applications and rising healthcare expenditure is also expected tocontribute the market growth.
The major market playersprofiled in the Magnetic Resonance Imaging (MRI) Machines market includes AspectImaging, Fonar Corporation, Hitachi Ltd., Koninklijke Philips NV, GEHealthcare, Siemens Healthcare GmbH, Neusoft Medical Systems Co. Ltd, EsaoteSpA, Canon Medical Systems Corporation and Aurora Imaging Technology amongothers.
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