Magnetic Resonance Imaging (MRI) Systems Market Expected to Reach $ 7.8 Billion by 2019 with a CAGR of 6.0% from 2013 to 2019.

Companies such as Siemens and GE Healthcare have made considerable foray into the refurbished MRI systems market in the North American regions. In addition, the refurbished market in emerging nations including Mexico, India and Romania have recorded the highest unit sales for refurbished MRI systems in recent years. The global market for refurbished magnetic resonance imaging (MRI) systems is forecast to reach $1,091.7 million by 2019 at a CAGR of 11.0% from 2013 to 2019.

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San Mateo, CA -- (SBWIRE) -- 02/25/2014 -- The principal products segments in the X-ray devices market are closed MRI, open MRI and refurbished MRI systems. Closed MRI systems comprise of a long bore in which a patient has to lie to be examined similar to CT systems. Due to the rising incidence of obesity and also the presence of a large fraction of obese population over the world the conventional systems cannot be applied. On the other hand, most conventional closed MRI systems had most definitely much better imaging. But this is changing due to collective effort of market players in introducing revolutionary technology such as wide-bore closed MRI systems and open systems. The market for closed MRI systems was estimated to be valued at $ 3,299.9 million and is forecast to reach $ 4,516.1 million by 2019 at a CAGR of 4.5% from 2013 to 2019. Open MRI systems are not to be confused with Open Bore systems that are open from both ends. These systems do not envelope the patients while they are lying down. Indian Sanrad Medical Systems collaborated with Multi-Dimensional Technologies (MDT) U.S to become a key regional player along with global competition such as Siemens and GE Healthcare.

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Magnetic Resonance Imaging scanners use superconducting magnets that can create a magnetic Field strength that ranges from 0.35 Tesla to 3 Tesla. The MRI devices available on the market today can be classified according to the strength of the magnets, which indirectly corresponds to the clarity of imaging and resolution. This is now partially offset due to advanced software and 3D rendering programs that reconstruct noise-ridden images into crystal clear pictures for diagnostic imaging. Low-Field to Mid-Field strength MRI systems are typically powering a 0.2 to 0.7 Tesla magnet in the gantry. These devices provide a low quality imaging and resolution due to the low power of the magnet. These devices constitute the oldest generation of MRI systems that require comparatively same power to sustain the output of the magnet as compared to technologically advanced ultra-high Field magnets today. On the other hand, the market for High-Field strength MRI constitutes the largest share of the total MRI systems market at 53% in 2012. The high Field MRI bracket is available for several applications that include full body scans and extremity scans. There are also several options available for animal MRI research such as the 2010 Bruker Biospin Icon 1T desktop MRI. The range of applications for these systems is increasing continuously and this is expected to drive the market in the coming years.

Geographically, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America was estimated to be the largest market in 2012 valued at $ 2,001.9 million and is expected to grow at a CAGR of over 5.2% from 2013 to 2019. North America held the highest share in the global X-ray devices market with over 35% in 2012. The major drivers of the market in the region are larger adoption of high Tesla MRI systems, large purchase capacity and funding to research centers. A major restraint is the uneven reimbursement scenario for MR imaging which may hamper their use over other traditional imaging systems such as X-ray and Computed Tomography. Europe has seen a considerable demand for extremities MRI systems in recent years. Arms, hands, wrists, knees, ankles etc comprise around 18%-25% of all scans performed. Asia-Pacific countries such as Japan are already growing a trend of demand for high Tesla systems whereas emerging economies such as China, India, South-East Asia and Korea are already growing from Low-Field and Mid-Field systems to High-Field and Very-High Field systems. The trend is also similar to Latin America and Middle-East in the Rest of the World category.

In terms of market share analysis, the global X-ray devices market was dominated by GE Healthcare with a market share of over 27% in 2012. Other principal key players in the market include Siemens healthcare, Philips Healthcare, Toshiba Medical Systems, Hitachi Medical Systems, Esaote S.p.A, Fonar Corporation, IMRIS among many other small local and regional players.

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The global magnetic resonance imaging (MRI) systems market is segmented as follows:

Global Magnetic Resonance Imaging (MRI) Systems Market, by Configuration
- Closed MRI Systems
- Open MRI Systems

Global Magnetic Resonance Imaging (MRI) Systems Market, by Field Strength
- Low to Mid-Field MRI Systems
- High-Field MRI Systems
- Very High-Field MRI Systems
- Ultra High-Field MRI Systems

Global Magnetic Resonance Imaging (MRI) Systems Market, by Refurbished Systems
- Refurbished Magnetic Resonance Imaging (MRI) Systems

Global Magnetic Resonance Imaging (MRI) Systems Market, by Geography
- North America
- Europe
- Asia-Pacific
- Rest of the World (RoW)

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