Global Magnetic Resonance Imaging (MRI) Market is expected to reach an approximate value of USD 5.6 billion by 2025. Constant introduction of advanced disease diagnostic technologies is primarily boosting the growth. In addition, the rapid growth of MRI sector is attributed to the growing prevalence of chronic diseases which require early diagnosis and timely treatment to prevent late stage complications. Also, rising number of road accidents leading to injuries and complications are augmenting the demand for this modality. The musculoskeletal and spine injuries also demand for magnetic resonance imaging systems for better scans using high-resolution scanning technique.
On the other hand, high cost of these products, and requirement of qualified professional to operate the device are some of the major factors challenging the growth of the market. Moreover, prolonged life span of these devices is resulting in delayed repeat purchase and thereby hindering the market growth.
Furthermore, players are adopting various strategies such as merges and acquisitions, and collaborations to remain competent in the space. For instance, Aurora Imaging Technology signed a distribution agreement with Sumec Group Corporation. Under the terms of agreement, Sumec Corporation is distributing Aurora Imaging Technology’s MRI system in China. The agreement provided a platform for both the companies to expand their diagnostics and screening market for breast scans using Aurora MRI system in China.
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Further Key Findings from the Study Suggest:
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Grand View Research has segmented the magnetic resonance imaging market by architecture, field strength, application and region:
Magnetic Resonance Imaging Architecture Outlook (Revenue, USD Million; 2014 – 2025)
Magnetic Resonance Imaging Field Strength Outlook (Revenue, USD Million; 2014 – 2025)
Magnetic Resonance Imaging Application Outlook (Revenue, USD Million; 2014 – 2025)
Magnetic Resonance Imaging Regional Outlook (Revenue, USD Million; 2014 – 2025)
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