New York, Feb. 27, 2023 (GLOBE NEWSWIRE) -- According to the report published by Next Move Strategy Consulting, the Magnetic Resonance Imaging (MRI) Market generated USD 7.55 billion in 2022, and is projected to generate USD 12.19 billion by 2030, witnessing a CAGR of 6.2% from 2022 to 2030. The research offers a detailed analysis regarding drivers, restraints, and opportunities to highlight changing market dynamics of the market. Moreover, the research provides an extensive analysis of major segments and their sub-segments to determine fastest-growing and highest revenue-generating segments.
Equipping the extensive analysis of each and every aspect of the market in 449 pages, accompanied by 349 tables and 315 figures, the report aims to become a source of guidance for market players, investors, and startups as they devise strategies for the next few years to achieve sustainable growth. Moreover, the research outlines the Covid-19 analysis to highlight the impact on the global modular robotics market size.
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| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 7.27 Billion |
| Market Size in 2030 | USD 12.19 Billion |
| CAGR | 6.2% |
| No. of Pages | 449 |
| Tables | 349 |
| Figures | 315 |
| Segments covered | Product Type, Field Strength, Application, End-user, and Region |
| Drivers | Growing prevalence of chronic diseases is increasing the implementation of MRI |
| Integration of artificial intelligence in MRI | |
| Opportunities | Numerous advancements in MRI methods such as open architecture and high-field MRI |
The report offers a comprehensive analysis of changing market dynamics based on drivers, restraining factors, and opportunities. Advancements in diagnostic technique such as open MRI, visualization software, superconducting magnets and development of cardiac pacemaker-compatible MRI systems drive the growth of the global MRI market. However, high cost of MRI systems restrains the market growth.
Highlighting the opportunities that would enable leading players raise their Magnetic Resonance Imaging (MRI) market share in the coming years, the Lead Analyst for the Life Sciences and Healthcare at Next Move Strategy Consulting, stated, “Introduction of hybrid MRI systems and novel application of MRI systems such as in detection of multiple sclerosis and metastasis in cancer create new opportunities in the coming years.”
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The research provides an extensive analysis of segmentation of the global magnetic resonance market based on product type, field strength, application, end-user and geography. On the basis of product type, the report divides the market into open MRI and closed MRI. Based on field strength, the market is classified into less than 1.5T, 1.5T to 3T and 3T & more MRI. By application, the report categorized the market into brain and neurological, spine and musculoskeletal, vascular, abdominal, cardiac, breast and others. Based on end-user, the report classifies the market into hospitals, imaging centers, ambulatory surgical centers and others
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Based on geography, the report further segments the global MRI market into North America, Europe, Asia-Pacific, and RoW. Based on report, North America accounted for the highest share in 2021, and will dominate throughout the forecast period. This is attributed to the factors such as presence of high number of elderly populations in countries such as US and Canada that are prone to bone disorders and requires MRI for diagnosis and treatment. On the other hand, Asia-Pacific is estimated to grow steadily during the forecast period, owing to the fast-growing economy in this region, development in healthcare industries, and advancement in medical research are expected to show significant growth in this region.
The research offers an analysis of each region and its countries based on segments and their sub-segments to outline steps to be taken to consolidate the presence in the MRI industry. This analysis is also helpful in determining highest-revenue generating and fastest-growing segments and taking the next steps accordingly.
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The report offers an extensive analysis of competitive landscape of the global magnetic resonance imaging industry. Some of the major market players in the manufacturing of MRI systems are Siemens Healthineers AG, Koninklijke Philips N.V., Shenzhen Basda Medical Apparatus Co. Ltd, United Imagining Healthcare Co., Ltd, Canon Medical Systems Corporation (Formerly known as Toshiba), Fujifilm Holdings Corporation, Time Medical Holding, Onex Corporation (Carestream Health), Esaote SpA, Shenzhen Anke Hi-tech Co.Ltd, General Electric Company (GE Healthcare), Bruker, Neusoft Medical Systems, Fonar Corporation, Aspect Imaging and many more.
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