Dublin, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The "North America Open MRI System Market Size and Share Analysis by Type, Scan Type, End User - Industry Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The North America open MRI system market has garnered USD 822.7 million in 2022, and it will touch USD 1,380.8 million, growing at a 6.7% CAGR, by 2030.
The growth of the industry is mainly attributed to the rising incidence of acute and chronic diseases, the cost-efficiency of open MRI systems, and the increasing elderly population. Continuous research and development have allowed the creation of advanced MRI systems in recent years that have enhanced image quality, exam time, and throughput. Some major developments in this field are hybrid MRIs and MRI-compatible devices.
In 2022, the semi-open high-field category, based on type, accounted for the largest North America open MRI system market share, of over 45%. This can be attributed to the fact that these systems scan patients faster as compared to other variants. Whereas, the advanced open category will witness the fastest growth, with approximately 8% compound annual growth rate, in the years to come. This can be ascribed to the fact that for weight-bearing imaging this type of MRI is the ideal choice. In addition, this MRI is fully open above, behind, and in the front, therefore providing the doctor with better ease of imaging and offering more freedom to the patient.
In 2022, the neurology category, based on scan type, accounted for the largest industry share, approximately 56%. MRI systems are widely utilized for scanning the head, neck, and brain, because of the rising brain injuries count in the region.
In North America, the U.S. accounted for the larger industry share, of over 90%, in 2022. This is primarily due to the growing incidence of chronic illnesses, the accessibility of advanced MRI systems, and the increasing elderly population in the nation. This growth is also attributed to the existence of enhanced healthcare facilities, rising requirements for MRI scans, and high healthcare expenditure.
Additionally, the arrival of artifact stabilization software, the efforts to make minimally invasive MRI systems, the integration of artificial intelligence to decrease radiologists' workload, the increasing prevalence of cancer and cardiac illness, and the growing utilization of integrated PET/MRI systems for the precise soft tissue anomaly detection are boosting the growth of the industry.
However, the need for open MRI systems in Canada is increasing significantly because of the mounting elderly population, the growing prevalence of cancer, and the rising incidence of neurodegenerative illnesses. It is because of the increasing elderly population, rising incidence of acute and chronic illness, as well as the cost-efficiency of open MRI systems, the open MRI system industry in North America will continue to advance in the years to come.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 136 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $822.7 Million |
| Forecasted Market Value (USD) by 2030 | $1380.8 Million |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | North America |
Market Dynamics
Trends
- Product approvals and launches
- Rising awareness of preventive healthcare and early disease diagnosis
Drivers
- Increasing prevalence of chronic and acute diseases
- Rising geriatric population
- Cost-effectiveness of open MRI systems
- Impact Analysis of Drivers on Market Forecast
Restraints
- Shortage of radiologists
- Low imaging accuracy
- Impact Analysis of Restraints on Market Forecast
- Impact of COVID-19
Regulatory Scenario for Diagnostic Imaging Systems
- Maintenance Cost Analysis of MRI Systems
- Value Chain Analysis
- Porter's Five Forces Analysis
List of Major Hospitals and Imaging Centers with Open MRI Systems
- U.S.
- Canada
- Number of MRI Procedures Performed in 2022
Company Profiles
- Koninklijke Philips N.V.
- Siemens AG
- GE Healthcare Technologies Inc.
- Esaote S.p.A.
- FUJIFILM Holdings Corporation
- FONAR Corporation
- Neusoft Medical Systems Co. Ltd.
- Time Medical Holdings
- Canon Medical Systems Corporation
- Medonica Co. LTD.
- Shenzhen Anke High-tech Co. Ltd.
- ASG SUPERCONDUCTORS S.P.A.
- SternMed GmbH
Definition of Market Segments
By Type
- Semi-open high-field
- Open low-field
- Advanced open
By Scan Type
- Cardiology
- Orthopedics
- Breast
- Neurology
- Pelvic and abdomen
By End User
- Hospitals and clinics
- Diagnostic imaging centers
For more information about this report visit https://www.researchandmarkets.com/r/bawqhl
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