Magnetic Resonance Imaging Market Size Is Projected to Reach $8.5 Billion by 2028 | CAGR: 6.0% | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, growing prevalence of chronic diseases and increasing demand for early diagnostic techniques are the factors expected to drive the market.

The global magnetic resonance imaging market size is expected to reach USD 8.5 billion by 2028. The market is expected to expand at a CAGR of 6.0% from 2021 to 2028. The growing prevalence of chronic diseases and increasing demand for early diagnostic techniques are the factors expected to drive the market. In addition, the growing adoption of less invasive procedures is also contributing to the growth of the market. Moreover, the growing number of clinical trials to understand the effectiveness and efficiency of magnetic resonance imaging (MRI) machines in various clinical applications is also expected to boost market growth.

End-users such as research institutes and universities are frequently studying the efficiency of MRI devices with high field strength such as 7T, 10T, and 10.5T. The growing number of research studies will help in unlocking the potential usage and advantages of high field MRI machines for various preclinical as well as clinical applications. Currently, 7T MRI machines are only effective in brain and knee imaging, largely due to the absence of advance coil required for these high field machines. Therefore, the development of advance coils to expand the application of 7T MRI machines is expected to propel market growth during the forecast period.

Key market players are adopting various strategies such as mergers and acquisitions, collaborations, and partnerships to be competitive in the market. Aurora Imaging Technology entered into a distribution agreement with Sumec Group Corporation. Under this distribution agreement, Sumec Corporation will distribute MRI portfolio ofAurora Imaging Technology in China. This, in turn, is helping both the companies in geographical expansion.

 

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MRI Market Report Highlights

Adoption of advanced imaging technologies is augmenting the growth of the market
Open system is anticipated to be the fastest growing segment during the forecast period due to its efficiency to accommodate all size of patients without feeling claustrophobic
MRI for neurological and brain disorders dominated the market largely due to growing number of neurological conditions and increasing demand for less invasive diagnostic procedure
The high field segment is expected to experience fastest growth largely due to its efficiency to provide detailed images for diagnosis
Ambulatory surgical centers are expected to exhibit highest growth rate during the forecast period. Government initiatives to improve primary care is one of the major factor impacting the segment growth
In 2020, North America dominated the magnetic resonance imaging (MRI) market and accounted for the largest revenue share owing to continuous research and high adoption of advanced techniques in the region
Asia Pacific is anticipated to witness the fastest growth rate over the forecast period due to growing number of clinical studies in the region for high field MRI machines

 

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MRI Market Segmentation

Grand View Research has segmented the global magnetic resonance imaging market based on architecture, field strength, application, end-use, and region:

MRI Architecture Outlook (Volume, Units; Revenue, USD Million, 2016 – 2028)

Closed System
Open System

 

MRI Field Strength Outlook (Volume, Units; Revenue, USD Million, 2016 – 2028)

Low Field Strength
Mid Field Strength
High Field Strength

 

MRI Application Outlook (Volume, Units; Revenue, USD Million, 2016 – 2028)

Brain and neurological
Low Field Strength
Mid Field Strength
High Field Strength
Spine and musculoskeletal
Low Field Strength
Mid Field Strength
High Field Strength
Vascular
Low Field Strength
Mid Field Strength
High Field Strength
Abdominal
Low Field Strength
Mid Field Strength
High Field Strength
Cardiac
Low Field Strength
Mid Field Strength
High Field Strength
Breast
Low Field Strength
Mid Field Strength
High Field Strength
Other
Low Field Strength
Mid Field Strength
High Field Strength

 

MRI End-use Outlook (Revenue, USD Million, 2016 – 2028)

Hospitals
Imaging Centers
Ambulatory Surgical Centers
Others

 

MRI Regional Outlook (Volume, Units; Revenue, USD Million, 2016 – 2028)

North America
U.S.
Canada
Europe
U.K.
Germany
Italy
France
Spain
Sweden
Russia
The Netherlands
Austria
Belgium
Denmark
Norway
Portugal
Finland
Asia Pacific
India
China
Japan
Thailand
South Korea
Singapore
Malaysia
Philippines
Taiwan
Indonesia
Vietnam
Latin America
Brazil
Mexico
Argentina
Colombia
Chile
Middle East & Africa
South Africa
Saudi Arabia
UAE
Kuwait
Qatar

 

List of Key Players of Magnetic Resonance Imaging Market

GE Healthcare
Hitachi Medical Systems America AG.
Siemens AG
Toshiba Corporation
Aurora Imaging Technologies, Inc.
Koninklijke Philips N.V.
Esaote SPA
Sanrad Medical Systems Pvt. Ltd.

 

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Browse More Related Report:

Magnetic Resonance Imaging Coils Market Size, Share & Trends Analysis Report By Type (Radiofrequency, Gradient), By Application (Neurology, Cardiovascular), By End-use (Hospitals, Diagnostic Imaging Centers), And Segment Forecasts, 2021 – 2028

 

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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