Portland, OR -- (SBWire) -- 02/21/2018 --MRI is the most preferred imaging modality due to its numerous advantages over other modalities in terms of image quality as well as the ability to capture the images through soft tissues. The rise in diseases such as brain tumors, breast cancers, prostate cancers, scoliosis, and sclerosis enhances the demand for MRI, which majorly drive the MRI market.
However, development in technology such as superconducting (SC) magnets, open architecture, high-field MRI, and software applications are the other drivers of this market. However, decline in restitution rates for MRI procedures and scarcity of helium gas deposits obstructing the growth of this market, which restraints the market growth. The novel MRI systems are expected to detect the early molecular and cellular changes in Alzheimer disease and for other diseases, will provide scope in the market.
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The global market is expected to garner $6,493 million by 2022, registering a CAGR of 3.81% during the period 2016 to 2022.Closed surgery segment is expected to hold the largest market share during the analysis period.
MRI systems market in the Asia-Pacific region is expected to grow during the forecast period due to the large population base and healthcare reforms in this region.
The key players in the MRI system markethavefocusedto expand their business operations in the emerging economies by adopting strategies, such as new product launch and geographical expansion. The major market players profiled in the report include GE Healthcare, Hitachi Medical Corporation, Phillips Healthcare, Siemens Healthcare, and Toshiba Medical Systems Corporation.
Some Key Findings of the MRI System Market:
- In 2015, close MRI dominated the MRI system market. It is projected to grow at a CAGR of 3.16% during the forecast period.
- LAMEA is expected grow at the fastest CAGR of 7.39%.
- North America contributed the largest share in the global MRI system market in 2015, and is projected to grow at a CAGR of 3.05% from 2016 to 2022.
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MRI System Market Size by Architecture Type and Field Strength