MRI Systems Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Dec 2020
  • Pages: 120
  • SKU: IRTNTR45908
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The MRI systems market size has the potential to grow by USD 1.91 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 5.99%. 

This report provides a detailed analysis of the market by product (closed MRI systems and open MRI systems), geography (North America, Europe, Asia, and ROW), and key vendors. 

Market Overview

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • Aspect Imaging Ltd.
  • Bruker Corp.
  • Canon Inc.
  • FONAR Corp.
  • General Electric Co.
  • Hitachi Ltd.
  • Koninklijke Philips NV
  • MR Solutions Ltd.
  • Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
  • Siemens Healthineers AG

 

The MRI systems market is fragmented and the vendors are deploying both organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players are also significantly leveraging external market drivers such as technological advances in MRI to achieve growth opportunities. However, factors such as the high cost of MRI will challenge the growth of the market participants. To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the MRI systems market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies, 

This MRI systems market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

MRI Systems Market: Key Drivers and Trends

  • MRI scanners can perform whole-body imaging with high accuracy and clarity and without any ionizing radiation.
  • Technological advances have further enhanced the capability of MRI systems to facilitate capturing images of blood vessels, lungs, brain, breasts, and abdominal and pelvic organs.
  • The cardiac MR procedures have also been simplified in new-generation MRI scanners.
  • The development of pulmonary MRI systems will further boost the adoption of MRI systems during the forecast period.
  • The software used in MRI systems has also witnessed major technological advancements.
  • Simultaneous Multi-Slice application introduced by Siemens Healthineers has helped in reducing the length of MRI brain examinations.
  • The software advances in MRI technology is identified as a key MRI systems market trends, which is driving the market growth.

 

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MRI Systems Market: Segmentation by Geography

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38% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for MRI systems in North America. Market growth in this region will be slower than the growth of the market in Asia and ROW.

The growing prevalence of several medical conditions is one of the prime factors that will facilitate the MRI systems market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

MRI Systems Market: Segmentation by Product

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The MRI systems market share growth by the closed MRI systems segment will be faster than the growth of the other segments. The increasing popularity of wide-bore closed MRI systems and the focus of vendors to increase their magnetic field strength to obtain clearer and higher quality images are primarily driving the growth of the market segment.    

Fetch actionable market insights on the post-COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the MRI systems market size. 

 

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MRI Systems Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive MRI systems market growth during the next five years
  • Precise estimation of the MRI systems market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the MRI systems industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of MRI systems market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The mri systems market growth will increase by $1918.50 million during 2020-2025.
The mri systems market is expected to grow at a CAGR of 5.99% during 2020-2025.
Technavio has segmented the mri systems market by product (Closed MRI systems and Open MRI systems) and geographic (North America, Europe, Asia, and ROW).
Aspect Imaging Ltd., Bruker Corp., Canon Inc., FONAR Corp., General Electric Co., Hitachi Ltd., Koninklijke Philips NV, MR Solutions Ltd., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Siemens Healthineers AG are a few of the key vendors in the mri systems market.
North America will register the highest growth rate of 37.72% among the other regions. Therefore, the mri systems market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • Germany
  • Japan
  • China
  • France
The key factors driving the mri systems market growth are:
  • Increasing prevalence of diseases coupled with growing geriatric population
  • Software advances in MRI technology
The mri systems market vendors should focus on grabbing business opportunities from the closed mri systems segment as it accounted for the largest market share in the base year.
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