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MRI Systems Market 2020 By Revenue, Top Trend & Regional Growth Forecast

Author : Ronak Bora | Published Date : 2020-09-11 

MRI Systems Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The magnetic resonance imaging (MRI) systems market is set to record noteworthy gains given to surging occurrence of diseases like cancer or diabetes. As per the National Health Council, nearly 40 million Americans every year suffer from at least one chronic disease. Conditions like diabetes and cancer can usually cause complications in the future, impacting a patient’s day to day activities. Thus, people prefer to conduct diagnosis at an early stage to avoid further complications.

Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/2140

On the other hand, increasing cases of road accidents could play a crucial role in driving the demand for MRI solutions for precise and quick diagnosis. Emerging countries like Africa and India are experiencing rising number of road accident cases annually. According to a study published by wheels24, approximately 14,050 people died in road accidents across South Africa in 2017. While on a global scale, millions of people suffer heavy trauma or death due to road incidents. Such instances could hugely benefit the magnetic resonance imaging industry growth over the forthcoming years.

Based on these aspects, Global Market Insights, Inc., predicts that the magnetic resonance imaging systems market might touch USD 8 billion by the year 2025. However, factors like high costs of MRI solutions could negatively impact industry growth over the predicted timeframe.

The number of road accidents has surged rapidly in recent years which has increased the demand for MRI procedures for accurate diagnosis. Records show that the number of accidental injuries is particularly high in developing countries such as India and Africa.

According to wheels24, nearly 14,050 people died due to road accidents in 2017 in South Africa alone. Millions of people die due to accidents and consequent trauma each year. These factors are likely to create a favorable scenario for global MRI systems industry.

Low to medium (<1.5T) systems are among the most widely used MRI systems in the healthcare industry due to easy availability and lower replacement costs. In many developed countries, 1.5T shot-bore MRI scanners is still the preferred the standard technology for MRI procedures.

Low to medium (<1.5T) MRI systems offer several advantages such as high-quality images of chest and abdomen. The segment was estimated to be worth US$168 million in 2018 and is expected to witness a substantial expansion in the near future.

A vast majority of patients suffering from damaged spinal cord, protrusion of discs, and soft tissue injuries prefer getting diagnosed at hospitals using advanced MRI systems. In addition, respective governments in developed as well as developing countries are making significant investments to ensure availability of advanced medical equipment in public hospitals. Hospitals end-use segment was estimated to be worth more than US$3 billion during 2018.

From a geographical perspective, China is slated to capture around 56% revenue share of Asia Pacific MRI systems industry. The regional growth can be attributed to favorable demographic trends and an expanding elderly population base. Elderly people are more vulnerable to chronic bone disorders such as osteoporosis and arthritis. Local players entering the industry are bound to witness lucrative growth opportunities on account of a positive regulatory framework in the country. 

Excessive costs pertaining to MRI procedures may limit the adoption of MRI systems slightly. However, a strong demand for these systems in the diagnosis of chronic diseases such as cancer and diabetes will foster MRI systems industry outlook. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/magnetic-resonance-imaging-mri-systems-market

Partial Chapter of the Table of Content 

Chapter 5. Magnetic Resonance Imaging (MRI) Systems Market, By Field Strength

5.1. Key segment trends

5.2. High to Ultra High (>1.5T)

5.2.1. Market size, by region, 2014-2025 (USD Million, Units)

5.3. Low to Medium (<1.5T)

5.3.1. Market size, by region, 2014-2025 (USD Million, Units)

Chapter 6. Magnetic Resonance Imaging (MRI) Systems Market, By End-use

6.1. Key segment trends

6.2. Hospitals

6.2.1. Market size, by region, 2014-2025 (USD Million, Units)

6.3. Others

6.3.1. Market size, by region, 2014-2025 (USD Million, Units)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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