(PRWEB) April 13, 2014
The "Advances in Magnetic Resonance Imaging (MRI) System Market (2013-2018) - Technology Trend Analysis – By Architecture, Field Strengths, Technology & Applications in Medical Diagnostics with Market Landscape Analysis – Estimates up to 2018
Browse 22 market data tables with 43 figures spread through 208 slides and in-depth TOC on Advances in Magnetic Resonance Imaging (MRI) System Market"
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The global MR systems market was valued at $4 billion and $4.1 billion in 2011 and 2012, respectively. As of March 2013, the market is expected to be $4.13 billion and is poised to reach approximately $5.24 billion by 2018 at a CAGR of 4.56%.
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The average prices of the MRI machines will go on decreasing; the highest decrease will be observed in Europe and Asia. This will be due to the decreasing prices of technology and the manufacturing base shifting to developing countries like India and China.
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This market research report evaluates the global market of magnetic resonance imaging by architecture, field strength, technology, application, and geography. The architecture MRI market is further categorized as closed and open MRI systems; the field strength segment comprises low to mid-field strength, high field strength and very-high field strength MR systems, the technology segment is classified as MR Angiogram, MR Venogram, functional MRI, MR Spectroscopy and Fusion MR, while the application segment covers breast MRI, cardiac MRI, interventional MRI, whole body MRI and MRI for brain, and neurological disorders.
Installation of new MRI equipment increased by 6.9% from 2009 to 2010 globally after the economic recession affected the developed economies like U.S and Europe. However, BRIC economies (Brazil, India, Russia, and China) registered 5.2% growth in the time of recession driving the overall market. This indicates the crucial growth strategies to be improved product offerings in the developed market and geographical expansion into emerging markets.
The use of MRI technology is expected to dilate globally owing to its significance in modern medical diagnosis for diverse biomedical applications. MRI systems for neurology and brain disorders command the current market, while cardiac MRI and breast MR systems are gaining momentum, due to rising cardiac and breast cancer cases globally.
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