Dublin, July 22, 2024 (GLOBE NEWSWIRE) -- The "USA MRI Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The USA MRI market is expected to grow at a CAGR of 8.26%, reaching a market size of US$1.846 billion in 2029 from US$1.059 billion in 2022
Key factors influencing the market include the advanced healthcare infrastructure, clinical applications, research and development, high patient demand, competitive market landscape, regulatory environment, healthcare expenditure, and widespread patient access to MRI services. The FDA oversees the safety and efficacy of MRI systems, and the high level of healthcare expenditure supports investments in medical technologies.
Factors such as the rising prevalence of cancer and cardiovascular disease are expected to act as major growth drivers for the growth of the USA MRI market. Moreover, the growing demand for effective diagnostic tools and equipment that can provide accurate results for providing effective treatment is further expected to increase the demand for MRI machines.
Technological advancement is predicted in the market growth
Factors contributing to the growth of the market in the country are growing technological advancement in the diagnostic field and the widening application of MRI in the medical field. As per the estimates published by the Organisation for Economic Co-operation and Development (OECD), around 40 million MRI scans are performed every year across the United States.
Some of the key market players are providing training courses to physicians to spread awareness about the latest technology that is being used in the diagnostic field. For instance, Bruker BioSpin is offering training courses for MRI customers in the US and Europe. The training course covers a wide range of applications, which include introductory classes and advanced operator courses. Owing to technological advancements, the market is expected to witness significant growth in the coming years.
The rising requisite of open MRI systems is anticipated to dominate the market
Open MRI systems are expected to dominate the growth segment during the forecast period. Open MRI systems have a lot of space and a large opening as compared to closed MRI systems, so they are suitable for claustrophobic and obese people. The major advantage offered by open MRI systems is their affordable and efficient cost.
People in countries such as the USA and Canada are adopting open MRI machines to provide more comfort to patients. For instance, Washington County Memorial Hospital in the United States has installed an Open Bore, 1.5 Tesla, magnetic resonance imaging (MRI) system.
The high cost of MRI equipment
Although the market is witnessing a robust demand during the forecast period for efficient management and treatment of chronic diseases, certain limitations are restricting the growth of the market. One such factor is the high costs associated with the installation and maintenance of imaging equipment. Installation and maintenance of these systems require a skilled workforce and complex infrastructure with high associated costs, which many small hospitals or medical institutions cannot afford.
Key Developments:
November 2023-Royal Philips is showcasing the world's first mobile MRI system with helium-free operations at #RSNA23. The BlueSeal MR Mobile, the industry's first 1.5T fully sealed magnet, delivers patient-centric MRI services where and whenever needed. Unlike other mobile MRI scanners, it is more agile and lightweight, allowing it to be located in more convenient places for patients.
The first BlueSeal MR Mobile unit, developed for outpatient radiology and oncology solutions provider Akumin, will debut at #RSNA23. With over 600 systems installed globally, the MRI scanners are equipped with Philips' BlueSeal magnet technology, which has saved over 1.5 million liters of helium since 2018.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 101 |
| Forecast Period | 2022 - 2029 |
| Estimated Market Value (USD) in 2022 | $1.06 Billion |
| Forecasted Market Value (USD) by 2029 | $1.85 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | United States |
Competitive Environment And Analysis
- Major Players and Strategy Analysis
- Market Share Analysis
- Mergers, Acquisitions, Agreements, and Collaborations
Company Profiles
- General Electric Company
- Siemens Healthineers
- Canon Medical Systems Corporation
- Koninklijke Philips N.V.
- Hitachi Medical Corporation
Market Segmentation
By Type
- Closed
- Open
By Application
- Screening
- Diagnosis
- Treatment Monitoring
- Research
For more information about this report visit https://www.researchandmarkets.com/r/82fxpt
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