MRI Market was worth US$ 5.61 Bn in 2021 and total revenue is expected to grow at a rate of 6 % CAGR from 2022 to 2029, reaching almost US$ 8.95 Bn in 2029.
Market Overview
The "MRI Market” analysis is a specialized and extensive examination of the MRI market, with a particular emphasis on market trends and analysis. The purpose of the report is to give an overview of the MRI market, as well as extensive market segmentation by type, end-user, and geography of the region. During the predicted period, the MRI market is expected to develop rapidly. The research provides important information on the market position of the MRI market major players, as well as significant market trends and opportunities.
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Market Scope
The report includes a SWOT analysis to assess the MRI market strengths and weaknesses. The research analyst conducts thorough research of the MRI Market size, share, trends, total earnings, gross revenue, and profit margin to precisely anticipate the market and give professional insights to investors to keep them up to speed on market developments.
The report on MRI Market offers a thorough analysis of the industry that is equipped with a major key finding that includes major market drivers, opportunities, challenges, and growth rate of the MRI market. The report acts as a guide for investors in the industry. The report provides the size of the MRI Market and Compound Annual Growth Rate for the forecast period (2022 to 2029).
Market Dynamics :
Academic institutions, research labs, hospitals, and clinicians are all interested in advancements in MRI techniques such as superconducting (SC) magnets, open architecture, high-field MRI, and software applications. The number of patients who can benefit from MRI procedures will increase significantly as MRI-compatible pacemakers become more widely available. The demand for MRI equipment is increasing in developed markets like North America and Europe due to replacement. The primary causes of the new wave of replacement are the development of MRI scanners with larger patient bores and the replacement of existing MRI systems that have reached their maximum usefulness.
Segmentation:
The market is divided into Open MRI Systems, Closed MRI Systems, Standard Bore, and Wide Bore based on architecture. With a 75.8% market share in 2021, the closed MRI system category dominated the market. The closed MRI system uses powerful magnetic fields and high-frequency radio waves to produce detailed images. Accurate slice selection and analysis are made possible by the closed structure. Patients in closed MRIs may experience claustrophobia and discomfort due to the intense noise. The outcomes might be inaccurate as a result of these problems. Some market participants are focusing their efforts on creating open and broad bore MRI systems that are appropriate for large and claustrophobic patients.
The market is divided into Low-to-mid Field, High-field, 1.5T, 3T, and Very-high Field strength categories based on field strength. With a 35.5% market share in 2021, the low to mid field was in the lead and is predicted to expand significantly over the forecast period. These inexpensive, easily accessible field strength MRI machines help capture images with greater accuracy. The field strength of low-field MRI machines is less than 1.5T, that of mid-field MRI machines is between 1.5T and 3T, and that of high-field MRI machines is greater than 3T. During the forecast period, the low field segment is predicted to grow the least.
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Key Players:
• Siemens Healthineers
• GE Healthcare
• Phillips
• Hitachi
• Canon Medical Systems
• Koninklijke Philips N.V.
• Aurora Imaging Technologies Inc.
• General Electric Company
• Esaote SpA
• Toshiba Corporation.
• Aspect Imaging
• Bruker
• Fonar
• Neusoft Medical Systems
• Shenzhen Mindray Bio-Medical Electronics
• Xingaoyi
• Aurora Imaging Technology
• Sanrad Medical Systems Pvt. Ltd.
• Mindray Medical International Limited
• Hologic, Inc.
• Nordion Inc.
• United Imaging Healthcare Co., Ltd.
Regional Analysis
The MRI market research provides the market area, which is further divided into sub-regions and countries. This section of the report contains information on profit forecasts as well as market share in each country. This part of the report discusses each region, country, and sub-market region's share and growth rate over the estimated time.
The report provides a PESTLE analysis for all five regions namely North America, Europe, Asia Pacific, Middle East, Africa, and South America for the MRI market.
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Key Questions answered in the MRI Market Report are:
- What is MRI Market?
- What is the forecast period of the MRI Market?
- What is the competitive scenario of the MRI market?
- Which region held the largest market share in the MRI Market?
- What are the opportunities for the MRI Market?
- What factors are affecting the MRI market growth?
- Who are the key players of the MRI market?
- Which company held the largest share in the MRI market?
- What will be the CAGR of the MRI market during the forecast period?
- What key trends are likely to emerge in the MRI market in the coming years?
Key offerings:
- Market Share, Size, and Forecast by Revenue|2022-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis by MRI
- Landscape- Leading key players and other prominent key players.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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