MRI Market was worth US$ 5.94 Bn in 2022 and total revenue is expected to grow at a rate of 6% CAGR from 2023 to 2029, reaching almost US$ 8.94 Bn in 2029.
MRI Market Report Overview
A new report published by Global Market Intelligence firm, Maximize Market Research, indicates that the MRI Market is expected to grow significantly in the coming years. The report identifies the key drivers of growth, as well as the major restraints and challenges that the market is facing. It also provides insights into the potential opportunities that exist in the market.
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MRI Market Report Scope
The report provides current MRI market trends and regional insights, including demand, supply, and sales, as well as recent changes in the market. It focuses on the key drivers and restraints for key players, as well as the current competitive landscape. The report also provides the latest data on market statistics, future developments, size, and emerging trends, which can help you identify the products and end users that are driving revenue growth and profitability. It also includes company profiles, product specifications, production capacity/sales, revenue, price, gross margin, and sales by product.
MRI Market Regional Analysis
The MRI market report provides a comprehensive overview of the market, including its geographic condition, market size and share, business network structure, opportunities, and news updates.
MRI Market Segmentation
The market is divided into three segments based on architecture: Open MRI Systems, Closed MRI Systems Standard Bore, and Wide Bore. With 75.8% of the market share in 2021, the closed MRI system category dominated the market. The closed MRI system uses high-frequency radio waves and strong magnetic fields 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 could be inaccurate as a result of these problems. A few industry players are focusing their efforts on creating open, 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 segments based on field strength. With a 35.5% market share in 2022, the low to mid field led the market and is anticipated to rise rapidly over the course of the projection period. These inexpensive, high-field strength magnetic resonance imaging devices help to obtain more accurate images. The field strength of an MRI machine is less than 1.5T for low-field machines, 1.5T to 3T for mid-field machines, and greater than 3T for high-field machines. Throughout the projection period, the low field sector is anticipated to grow the least. Midfield and high field machines have replaced the low field strength ones.
The market is divided into submarkets based on application, including vascular, breast, musculoskeletal, brain and neurological, pelvic and abdominal, and cardiac magnetic resonance imaging. Because they produce scans that are of a better caliber than computed tomography scans, magnetic resonance imaging (MRI) systems dominated the market in 2022, with the largest share of 24.2%. Similar to this, it is anticipated that the market for breast imaging would grow quickly as the number of cases of breast cancer rises, increasing the need for risk factor detection. As a result, MRI methods help provide quantitative information about cancer by identifying the biological and physical characteristics of tissue.
MRI Market Size and Forecast, by Application (2022-2029)
1. Spine and musculoskeletal MRI
2. Brain and neurological MRI
3. Vascular MRI
4. Pelvic and Abdominal MRI
5. Breast MRI
6. Cardiac MRI
MRI Market Size and Forecast, by Architecture (2022-2029)
1. Open MRI Systems
2. Closed MRI Systems
3. Standard Bore
4. Wide Bore
MRI Market Size and Forecast, by Field Strength (2022-2029)
3. Low-to-mid Field
3. High-field
3. 1.5T
4. 3T
5. Very-high Field
MRI Market Size and Forecast, by Region (2022-2029)
1. North America
2. Europe
3. Asia Pacific
4. Middle East and Africa
5. South America
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MRI Market Key Players
1. Siemens Healthineers
2. GE Healthcare
3. Phillips
4. Hitachi
5. Canon Medical Systems
6. Koninklijke Philips N.V.
7. Aurora Imaging Technologies Inc.
8. General Electric Company
9. Esaote SpA
10.Toshiba Corporation.
11.Aspect Imaging
12.Bruker
13.Fonar
14.Neusoft Medical Systems
15.Shenzhen Mindray Bio-Medical Electronics
16.Xingaoyi
17.Aurora Imaging Technology
18.Sanrad Medical Systems Pvt. Ltd.
19.Mindray Medical International Limited
20.Hologic, Inc.
21.Nordion Inc.
22.United Imaging Healthcare Co., Ltd.
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@ https://www.maximizemarketresearch.com/market-report/global-mri-market/8399/
Key Questions answered in the MRI Market Report are:
- What is MRI?
- What is the forecast period of the MRI Market?
- What is the expected MRI market size by the end of the forecast period?
- What will be the CAGR of the MRI market during the forecast period?
- Who are the key players in the MRI industry?
- Which region held the largest market share in the MRI Market?
- What are the opportunities for the MRI Market?
- What are the factors restraining the MRI market growth?
Key Offerings:
- Past Market Size and Competitive Landscape (2017 to 2021)
- Past Pricing and price curve by region (2017 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis of segments and their sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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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