MRI Market Size to Reach $5.6 Billion by 2025: Grand View Research, Inc.

Tuesday, February 21, 2017 Research News
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SAN FRANCISCO, February 21, 2017 /PRNewswire/ --

The global magnetic resonance imaging (MRI) market is

expected to reach an approximate value of USD 5.6 billion by 2025. Constant introduction of advanced disease diagnostic technologies is primarily boosting the growth. In addition, the rapid growth of MRI sector is attributed
to the growing prevalence of chronic diseases which require early diagnosis and timely treatment to prevent late stage complications. Also, rising number of road accidents leading to injuries and complications are augmenting the demand for this modality. The musculoskeletal and spine injuries also demand for magnetic resonance imaging systems for better scans using high-resolution scanning technique.

     (Logo: http://photos.prnewswire.com/prnh/20150105/723757 )

On the other hand, high cost of these products, and requirement of qualified professional to operate the device are some of the major factors challenging the growth of the market. Moreover, prolonged life span of these devices is resulting in delayed repeat purchase and thereby hindering the market growth.

Furthermore, players are adopting various strategies such as merges and acquisitions, and collaborations to remain competent in the space. For instance, Aurora Imaging Technology signed a distribution agreement with Sumec Group Corporation. Under the terms of agreement, Sumec Corporation is distributing Aurora Imaging Technology's MRI system in China. The agreement provided a platform for both the companies to expand their diagnostics and screening market for breast scans using Aurora MRI system in China.

Browse full research report with TOC on "Magnetic Resonance Imaging (MRI) Market Analysis By Architecture (Open And Closed), By Field Strength (Low, Medium, High), By Application (Brain & Neurological, Spine & Musculoskeletal, Vascular, Abdominal & Pelvic, Cardiac, Breast), And Segment Forecasts, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/magnetic-resonance-imaging-market

Further key findings from the report suggest: 

  • Adoption of advanced imaging technologies is augmenting the growth of MRI market
  • The closed system segment accounted for the largest share in 2015. Whereas open system is anticipated to be the fastest growing segment during the forecast period.
  • MRI for neural and brain disorders dominated the market since no alternate scanning tool is available  
  • In 2015, North America dominated the global space with the largest revenue share owing to continuous research and high adoption of advanced techniques  
  • Asia Pacific is anticipated to show the fastest growth rate during the forecast period from 2016 to 2025
  • Rapidly growing medical tourism industry coupled with growing disposable income of India, and China are some of the factors that are expected to drive the market growth
  • Major players competing in the industry include but are not limited to Siemens AG; Koninklijke Philips N.V.; GE Healthcare; Hitachi Medical Systems

Browse related reports by Grand View Research: 

  • Glucose Monitoring Device Market - http://www.grandviewresearch.com/industry-analysis/glucose-monitoring-device-market
  • Neurovascular Intervention Devices Market - http://www.grandviewresearch.com/industry-analysis/neurovascular-intervention-devices-market
  • Blood Glucose Monitoring (BGM) Devices Market - http://www.grandviewresearch.com/industry-analysis/blood-glucose-monitoring-bgm-devices-market
  • Infectious Vaccines Market - http://www.grandviewresearch.com/industry-analysis/infectious-vaccines-market

Grand View Research has segmented the magnetic resonance imaging market by architecture, field strength, application and region: 

  • Magnetic Resonance Imaging Architecture Outlook (Revenue, USD Million; 2014 - 2025)
    • Closed Systems
    • Open Systems
  • Magnetic Resonance Imaging Field Strength Outlook (Revenue, USD Million; 2014 - 2025)
    • Low Field Strength
    • Mid Field Strength
    • High Field Strength
  • Magnetic Resonance Imaging Application Outlook (Revenue, USD Million; 2014 - 2025)
    • Brain and neurological
    • Spine and Musculoskeletal
    • Vascular
    • Abdomen
    • Cardiac
    • Breast
    • Others
  • Magnetic Resonance Imaging Regional Outlook (Revenue, USD Million; 2014 - 2025)
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • UK
    • Asia Pacific
      • China
      • Japan
    • Latin America
      • Mexico
      • Brazil
    • MEA
      • South Africa

Read Our Blog: Magnetic resonance imaging market: driven by increasing technological advancements in imaging systems

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: sales@grandviewresearch.com

Web: http://www.grandviewresearch.com

SOURCE Grand View Research, Inc.



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