You are here

Magnetic Resonance Imaging (MRI) Systems Market Worth 11,725.9 Mn at 6.4% CAGR Forecast by 2025 | Fortune Business Insights

PUNE, India, May 2, 2019 /PRNewswire/ -- Holding a large share in the medical imaging industry, the global Magnetic Resonance Imaging (MRI) Systems Market is expected to grow at a steady CAGR through 2025. As per a report by Fortune Business Insights, the global MRI systems market will exhibit a CAGR of 6.4% between 2018 and 2025. At this pace, the market will reach US$ 11,725.9 Mn by the end of 2025 as against US$ 7,165.6 Mn, its overall value in 2017. The report is titled "Magnetic Resonance Imaging (MRI) Systems Market Global Market Analysis, Insights and Forecast, 2019-2025." It offers in-depth insights into the market, covering various growth drivers, restraints, and opportunities.

MRI Systems with 1.5 T will Continue Holding a Lion's Share in Global Market

In terms of strength, MRI systems with 1.5 T held a dominant share of 70.5% of the global MRI systems Industry in 2017.  According to the report, the demand for MRI systems with 1.5 T is considerably high in the strength category as they offer a better value for money in emerging as well as developed nations. In addition to this, the increasing willingness to spend on advanced healthcare and the presence of a sophisticated healthcare infrastructure will fuel demand for advanced MRI systems in developed nations. Lead analysts also predict the global market to benefit from recent technological advancements.

"The rising demand for improved accuracy in diagnostic imaging has created scope for the development of specialized MRI systems such as neonatal MRI system, breast MRI systems, and others. Leading manufacturers are capitalizing on this trend to establish a stronghold in the global MRI systems market," said a lead analyst at Fortune Business Insights.

Get an Exclusive Sample Copy: https://www.fortunebusinessinsights.com/enquiry/sample/magnetic-resonance-imaging-systems-market-100087

However, there are several challenges such as the cost of an MRI system is directly proportional to the technology it is in-built with. Managing the increasing pricing pressures of acquiring and maintaining an advanced MRI system is a prime challenge witnessed by prospective customers. Furthermore, stringent regulatory approvals and intensifying competition from CT may create bottlenecks to growth for companies operating in the market.

Lucrative Growth Opportunities to Boost Market in Asia Pacific

Regionally, Asia Pacific was leading the global MRI systems industry in 2017. The Asia Pacific market was valued at US$ 3,159.5 Mn in 2017 and is forecast to remain dominant through the course of the forecast period. With the leading players penetrating deeper into emerging nations, the Asia Pacific market for magnetic resonance imaging systems is poised to surge at an impressive pace. Furthermore, the market is expected to gain momentum in response to the increasing patient pool and the rising prevalence of neurological and musculoskeletal disorders in the region.

The market is expected to witness lucrative growth prospects in North America and Europe as well. These regions are likely to exhibit increasing adoption of advanced MRI systems with more than 1.5 T strength. Collaborations between the U.S. based healthcare institutions and domestic healthcare organizations will bolster opportunities for the MRI systems market in the Middle East and Africa.

Studies Identify GE Healthcare as a Leading Player

Among companies operating in the global magnetic resonance imaging systems market, GE Healthcare held dominance in 2017. The company's diverse product portfolio, combined strong focus on reinforcing strategies to develop a strong distribution network, is aiding its growth. Furthermore, GE Healthcare will continue exhibiting an impressive run due to its strong penetration across emerging nations and recent technological advancements. Besides this, Siemens Healthcare is likely to enjoy a stronghold in the global MRI systems industry. The company's strong presence in China and expansion of its manufacturing capacity in Latin America will accelerate its pace of gains over the forecast period.

Browse Complete Report Details Enabled with Complete Tables and Figures is Available: https://www.fortunebusinessinsights.com/industry-reports/magnetic-resonance-imaging-systems-market-100087

The global MRI systems market can be segmented into the following categories:

  • Global MRI systems Market, by Strength
    • Less than 1.5 T
    • 1.5 T
    • More than 1.5 T
  • Global MRI systems Market, by Application
    • Musculoskeletal
    • Neurology
    • Cardiology
    • Body Imaging
    • Others
  • Global MRI systems Market, by End User
    • Hospitals
    • Ambulatory Surgical Centers
    • Diagnostic Centers
  • Global MRI systems Market, by Region
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Scandinavia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • Southeast Asia
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC
      • South Africa
      • Rest of Middle East & Africa


Request for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/magnetic-resonance-imaging-systems-market-100087

Browse Related Reports:

1. The Global Robotic Surgical Procedures Market, which was valued at US$ 3,912.2 Mn in 2017, is projected to reach US$ 13,271.6 Mn by the end of 2025, exhibiting a CAGR of 16.6%.

Existing market players operating in the robotic surgical systems market are focusing on constant innovation and upgrading their portfolio with new and advanced product offerings. Moreover, increasing number of patients undergoing surgical procedures, rising shift of healthcare providers towards minimally invasive surgical procedures, and rising adoption of robotic surgical systems in developed and emerging countries are some of the major factors projected to drive the number of robotic-assisted surgical procedures being performed globally.

2. The Global Digital Blood Pressure Monitors Market, which was valued at US$ 666.6 Mn in 2017, is projected to reach US$ 1,440.3 Mn by the end of 2025, exhibiting a CAGR of 10.1%.

Digital blood pressure monitors use the oscillatory technique to measure the blood pressure and provide the numerical data in a digital form. Improved precision and accuracy of digital blood pressure monitors and the significant rise in the purchase of home-use blood pressure monitors in the developed countries are the key factors associated with the rising popularity of digital blood pressure monitors

About Us:

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact us:

Fortune Business Insights Pvt. Ltd. 
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.

US :+1-424-253-0390
UK : +44-2071-939123
APAC : +91-744-740-1245
Email: sales@fortunebusinessinsights.com

Website: https://www.fortunebusinessinsights.com

Logo: https://mma.prnewswire.com/media/881202/Fortune_Business_Insights_Logo.jpg  
Photo: https://mma.prnewswire.com/media/881203/MRI_Infograph.jpg