Magnetic Resonance Imaging (MRI) Systems Market Overview: Type and Applications, Trends, Industry Analysis & Forecast, 2018-2023

 Magnetic Resonance Imaging (MRI) Systems Market Information: By Type (Open MRI and Close MRI), Field Strength (High-Field MRI Systems), Disease Application (Brain and Neurological MRI), and by End-Users (Hospitals & Clinics) – Global Forecast Till 2023

Overview

MRI is a non-invasive diagnostic technology that produces digital images of the internal body structures. It uses the magnetic resonate atoms to show the pictures of the inner body tissue and organs. The magnetic resonate particles are the radio waves that provides the three-dimensional images of the internal organs and joints in the body. MRI shows you the detailed structure of the organ without any invasive surgery. It also detects the heart, surrounding view of the artery and the troubles related to it.

MRI study also involves Brain MRI, individual organ MRI and the extremities. The MRI market works on four demands. The four applications of MRI market include the non-invasive procedure in practices, the harmful effects of the radiation-based imaging, rising in the research and development of the life science and the increasing use of magnetic resonance imaging in the drug discovery.

There are certain other factors also that fuel the growth of the MRI market. The primary factor that is increasing the demand for MRI is the increase in the geriatric population. The increase in the geriatric population leads to the rise of cardiovascular, neurological and ophthalmic disorders which results in the growth of the MRI market. However, certain factors affect the growth of MRI markets such as high cost of the instruments, strict regulatory, insufficient reimbursement policies and the lack of skilled operators. The global market of MRI is expecting to grow and dominate the market in 2022.

 

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Segmentation

The global market of Magnetic resonance imaging is segmented into four types. It includes the architecture, disease application, magnetic field strength and the end-user. Based on the architectural model, the MRI market is of two kinds; open MRI and Closed MRI. Based on the magnetic field strength, the MRI market is divided into four types low, medium, high and very high. Similarly, based on its application, the global MRI market is classified into four types. The segmentation includes spine MRI, organ MRI, Ultra-brain MRI and the extremities.

The MRI market is also segmented based on end-users that include clinics, diagnostics centre and hospitals. As of now, the medium and the high-field segments are having large scale adoption. Usually, the medium and high-field sections produce better image quality to the end-users that helps in better treatment of the disease.

The increasing demand for MRI in the hospitals and clinics is rising with the highest market share. The MRI market is one of the significant markets for investment.

 

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Regional overview

At present, North America holds the largest market share of the MRI system. The adoption of technological advancement is making the MRI market more abundant in North America. The future improvement in the technology will offer more futuristic features in MRI; it includes early detection of the molecular and the cellular changes for diseases.

On the other hand, Europe holds the second-largest market share in the global market. The significant factors that drive the market are increasing health care infrastructure, advancement in the treatment facilities and increase expenditure in the health care sector.

Asia pacific is also expecting rapid growth in the MRI market. The faster adaptation of the health care and initiative taken by the governments is raising the growth of the MRI market.

Recent industry news

New technological advances added to the software of the MRI. It enables the MRI to make fast contrast scan; it also simplifies the cardiac imaging workflows that will help the end-user to get effective results.

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