Global MRI Systems Market Expected to Grow at 4.44% CAGR to 2025

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The Global MRI systems market is expected to grow at a CAGR of 4.44% during the forecast period of 2017-2025. The major factors driving the market are increasing geriatric population globally, Technological advancements, Increasing awareness among consumers, increasing prevalence of chronic diseases, rising incidences of accidents and injuries.

Main key players of MRI systems market are Ge Healthcare, Philips Healthcare, Siemens Healthcare, • Toshiba Medical Systems, Hitachi Medical Corp. Others are Advanced Imaging Research Inc, Analogic Corp., Aurora Imaging Technology, Inc., Bruker Corporation, Carestream Health, Esaote Spa, Fonar Corporation, Fujifilm Holdings, Hologic, Imris, Innervision Mri Ltd., Medonica Co. Ltd, Millenium Technology Inc., Mr Instruments Inc., Neusoft Medical Systems Co., Ltd., Nordion, Paramed Medical Systems, Philips Healthcare, Sanrad Medical Systems Pvt. Ltd., Shimadzu Corp, Time Medical Systems Inc.

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Geographical expansion is the most widely adopted strategy by the major companies in the market. For instance, Japan-based companies Toshiba and Hitachi have set up manufacturing facilities in China to leverage the country’s low-cost manufacturing facilities. Hitachi also has set its sight on Europe while other companies such as GE Healthcare and Philips Healthcare are also planning to enter other emerging markets.

MARKET INSIGHTS
The global MRI systems market segments is segmented on the basis of architecture, field-strength, technology, and applications.  Architecture is further segmented into Open MRI systems and Closed MRI systems

Field-Strength is further segmented into Low-to-mid field MRI systems, High field MRI systems, Very high-field MRI systems, and Ultra-high field MRI systems.

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MRI Technology is further segmented into: MR Angiogram, MR Venogram, Functional MRI, NMR , Spectroscopy, Other Technologies. The MR angiogram is currently dominating the market due to the growing incidences of cardiac diseases globally.

Application is further segmented into Whole-body MRI, Interventional MRI, MRI for brain & neurological disorders, Breast MRI, Cardiac MRI, Other MRI

REGIONAL INSIGHTS
Geographically, the global MRI systems market has been segmented North America – U.S. & Canada, • Europe – UK, France, Germany, Russia, RoE, Asia Pacific – China, India, Japan, South Korea, RoAPAC, • Rest of World Brazil, Middle East & Africa, Central & South America (excluding Brazil)

The North America region accounted for the highest share in 2016 due to the growing geriatric population and increasing investments by the government and the healthcare industry. However, it is the Asia-Pacific market which is predicted to be the fastest-growing region for the MRI systems market over the forecast period due to the increasing numbers of heart, brain or neurological related diseases and rising manufacturing outsourcing in the region.

Market Drivers
 Increasing Geriatric Population Globally
Technological Advancements
Increasing Awareness Among Consumers
Increasing Prevalence Of Chronic Diseases
Rising Incidences Of Accidents And Injuries

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