Boston, MA -- (SBWIRE) -- 03/05/2014 -- The research service on Advances in MRI Systems Market (2013-2018) - Technology Trend Analysis - By Architecture, Field Strengths, Technology and Applications in Medical Diagnostics with Market Landscape Analysis - Estimates up to 2018, is an attempt to showcase the technology and market impact of existing and emerging MR systems having a huge growth potential in medical imaging for the coming five years.
Magnetic resonance imaging (MRI) is a medical imaging technique that makes use of magnetism, radio waves, and a computer to produce images of body structures. MRI scans have a wide variety of applications in disease diagnosis ranging from neuroscans, cardiac to liver scans. Closed MR imaging systems command the market due to the high clinical value delivered by the systems.
MR imaging has become the preferred diagnostic imaging method for imaging the central nervous system, particularly for detecting brain tumors, spine lesions, imaging blood vessels, and stroke affected areas of brain. This technology has gained impetus from the keen interest shown in it by technology developers and manufacturers that wish to make it more patient friendly.
View Full Report Details and Table of Contents
The current magnetic resonance imaging industry is producing over 2,000 units per year. The global market for these systems values $4.13 billion, as of the first quarter of 2013, and is expected to grow at a CAGR of 4.56% reaching approximately around $5.24 billion by 2018. As of March 2013, North America dominates the market with nearly 40% share, followed by Europe due to technological developments for effective diagnostics and rapidly aging population. However, Asia is slated to grow at a high CAGR of 5.2% over the analysis period. Improved spending capability and physicians inclination towards MR imaging over other conventional medical imaging modalities is fuelling demand for MRI across this region. Asia holds enormous growth potential, particularly from countries with large population base such as China and India. The demand is anticipated primarily from private hospitals compared to public hospitals. The adoption of MR imaging equipment market is also likely to grow owing to the rising incidences of cardiac diseases, neurological and oncological cases in the region.
Liquid helium, which has an extremely low boiling point of minus 452.07degF, is used for cooling the superconducting magnets of MR systems. A severe shortage in the availability of helium across the globe would affect significantly for MR OEMs. The prices for hospital-grade helium are anticipated to rise from 2013, leading to higher health-care costs or, in the worst scenario, the need for an alternative technique for cooling MRI machines.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Medical Devices research reports at Fast Market Research
You may also be interested in these related reports:
- MediPoint: Breast Cancer Imaging - EU Analysis and Market Forecasts
- MediPoint: Breast Cancer Imaging - Global Analysis and Market Forecasts
- MediPoint: Breast Cancer Imaging - APAC Analysis and Market Forecasts
- MediPoint: Breast Cancer Imaging - US Analysis and Market Forecasts
- MediPoint: Breast Cancer Imaging - South America Analysis and Market Forecasts
- Siemens Healthcare Market Share Analysis
- North America In Vitro Diagnostics Market Outlook to 2018- Clinical Chemistry Genetic Testing, Haematology, Histology and Cytology, Immuno Chemistry, Infectious Immunology and Microbiology Culture
- China In Vitro Diagnostics Market Outlook to 2018- Clinical Chemistry Genetic Testing, Haematology, Histology and Cytology, Immuno Chemistry, Infectious Immunology and Microbiology Culture
- Pre-Clinical Imaging (In vivo) Market - By Systems and Reagents [Micro-PET, Optical Imaging, Micro-MRI, Micro-SPECT, Micro-Ultrasound, Micro-CT & Multimodality/Hybrid Imaging Modalities] - Competitive Analysis & Global Forecasts to 2017
- Germany In Vitro Diagnostics Market Outlook to 2018 - Clinical Chemistry Genetic Testing, Haematology, Histology and Cytology, Immuno Chemistry, Infectious Immunology and Microbiology Culture