Magnetic Resonance Imaging (MRI) System Market worth $5.24 Billion By 2018

Thursday 6 June 2013, Amsterdam

The "Advances in Magnetic Resonance Imaging (MRI) System Market (2013-2018) - Technology Trend Analysis – By Architecture, Field Strengths, Technology & Applications in Medical Diagnostics with Market Landscape Analysis – Estimates up to 2018

The global healthcare industry is witnessing a paradigm shift, skewed towards non-invasive and non-ionizing diagnostic procedures, which not only cures serious illnesses, but also have negligible side effects. Magnetic resonance imaging (MRI) is one of such technologies with the potential to revolutionize medical diagnostics in healthcare. The global MR systems market was valued at $4 billion and $4.1 billion in 2011 and 2012, respectively. As of March 2013, the market is expected to be $4.13 billion and is poised to reach approximately $5.24 billion by 2018 at a CAGR of 4.56%.

This market research report evaluates the global market of magnetic resonance imaging by architecture, field strength, technology, application, and geography. The architecture MRI market is further categorized as closed and open MRI systems; the field strength segment comprises low to mid-field strength, high field strength and very-high field strength MR systems, the technology segment is classified as MR Angiogram, MR Venogram, functional MRI, MR Spectroscopy and Fusion MR, while the application segment covers breast MRI, cardiac MRI, interventional MRI, whole body MRI and MRI for brain, and neurological disorders.

Closed systems with high field strengths dominate the market due to their high clinical significance and higher image resolution. Technological advancements such as the introduction of MRI-compatible pacemakers and digital broadband scanners drive the growth of the MRI market. Aging population in developed countries and increasing cases of chronic diseases in developing economies accelerates the market growth from the demand side.

The use of MRI technology is expected to dilate globally owing to its significance in modern medical diagnosis for diverse biomedical applications. MRI systems for neurology and brain disorders command the current market, while cardiac MRI and breast MR systems are gaining momentum, due to rising cardiac and breast cancer cases globally.

With its ability to image anatomically and functionally, MRI has found its way into surgical applications and as well as in diffusion and perfusion imaging. It is being combined with other modalities such as PET, SPECT and ultrasound to achieve new heights of image clarity.

In brief, the highlights of the report are as follows:

• Comprehensive analysis of the market structure, along with forecast of the MRI market, based on magnet type, field strength, technology, and applications
• Identification of factors driving and restraining the growth of MR imaging market for the next five years (2013-2018) with more emphasis on Helium shortage
• Description of global technology developments with major emphasis on technological innovations by the corporate sector and collaborative efforts by academic institutions
• Thorough analysis of current investors in the MRI market, highlighting investment opportunities based on architecture, field strengths, applications, and geography
• Patent analysis based on geography, offers significant research and development carrying out in the market of MRI
• Assessment of regulatory framework, reimbursement, and pricing issues related to MR systems
• Analysis of the competitive landscape, which includes joint ventures, mergers and acquisitions, new product developments, and research and development in the MRI market