Magnetic Resonance Imaging (MRI) Systems Market worth $6,802.7 Million by 2020

The report “Magnetic Resonance Imaging (MRI) Systems Market by Architecture (Open MRI, Closed MRI), Field Strength (low-to-mid field, high field, very high field, ultra-high field) & Application (Brain, Spine, Cardiac, Breast, Abdominal) - Global Forecast to 2020”, provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the global market along with the revenue estimates and forecasts.

Browse 192 market data tables and 56 figures spread through 250 pages and in-depth TOC on “Magnetic Resonance Imaging (MRI) Systems Market"

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The global MRI systems market is poised to reach $6,802.7 million by 2020 from $5,093.0 million in 2014, at a CAGR of 5.0% from 2015 to 2020.


In this report, the global market is broadly segmented by architecture, field strength, application, and region. By architecture, MRI systems market is categorized into closed and open magnetic resonance imaging system.


On the basis of field strength, MRI systems market is categorized into low-to-mid-field MRI, high-field MRI, very-high-filed MRI, and ultra-high-filed MRI. In 2014, the high-field MRI segment accounted for the largest share of the market attributing to the growing number of replacements of low-to-mid field magnetic resonance imaging system.


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Based on applications, the MRI systems market is broadly classified into spine and musculoskeletal MRI, brain and neurology MRI, vascular MRI, pelvic and abdominal MRI, breast MRI, and cardiac MRI. Spine and musculoskeletal MRI is the fastest-growing segment of the market attributing to the growing aging population and rising awareness about early diagnosis.


Growth of the market is propelled by the rising aging population and technological advancements such as superconducting (SC) magnets, open architecture, high-field MRI, and software applications. Emerging markets (China, India, Brazil, and Middle East), novel application areas such as multiple sclerosis and breast cancer, and advent of hybrid magnetic resonance imaging system provide new growth opportunities to players in the market. However, high costs of magnetic resonance imaging system, declining reimbursement rates for MRI procedures, shortage of helium gas deposits, dearth of trained personnel, and uncertain outcomes of changing healthcare reforms are hindering the growth of this market.


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Key players operating are GE Healthcare (U.K.), Hitachi Medical Corporation (Japan), Philips Healthcare (Netherlands), Siemens Healthcare (Germany), and Toshiba Medical Systems (Japan).


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