Magnetic Resonance Imaging Scanners Market to Cross US$ 8 Bn by 2019

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Posted By: Lucas Jones December 9, 2016

This report provides analysis of the global magnetic resonance imaging or MRI scanners market in terms of device configuration, field strength and geography. It provides estimates of market in terms of value and volume with 2013 & 2014 as base years and forecast of 2015-2019. Magnetic Resonance Imaging (MRI) scanner is a non-invasive diagnostic device that allows investigation of anatomies and functions of the body through images created by high magnetic fields. The device uses the body?s natural magnetic properties to produce detailed images from any part of the body. For imaging purposes the hydrogen nucleus (a single proton) is used because of its abundance in water and fat. The analysis strongly points towards growing adoption of 3T MRI systems based on interviews with industry experts and radiologists particularly in emerging economies such as China, Brazil, South Africa, and South-East Asia. The global magnetic resonance imaging (MRI) systems market was estimated to be valued at US$ 6005.8 million in 2014 and forecast to reach US$ 8,113.2 million by 2019 with a CAGR of 6.2% from 2015 to 2019.

Market Drivers:

  • Clinical and technological advancements in MRI diagnostics.
  • Widening applications such as preclinical and veterinary MRI.
  • Rapidly aging world geriatric population.
  • Increasing number of MRI compatible implants pushing growth and usage.
  • Rise in adoption of mobile imaging services.

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Market Inhibitors:

  • High cost of device and technical components is a significant barrier while purchasing MRI.
  • Substitute technologies compete strongly with MRI.
  • Excise duty imposed on sale of medical devices in the U.S. market by the Affordable Care Act.

Device Configurations Covered In This Report:

  • Open MRI
  • Closed MRI

Market by Field Strength Covered In This Report:

  • Low-Field (0.5T)
  • Mid-Field (1.5T)
  • High-Field (3T)
  • Ultra-High-Field (7T & above)

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Key Players Covered In This Report:

  • BrainLab AG
  • Esaote
  • Fonar
  • GE Healthcare
  • Hitachi Medical
  • Mobius