Global Magnetic Resonance Imaging System Market – MRI 2018 Forecast & Analysis in New Research Report at ReportsnReports.com
Dallas, TX (PRWEB) July 20, 2013 -- The research service on Advances in MRI Systems Market (2013-2018) - Technology Trend Analysis - By Architecture, Field Strengths, Technology and Applications in Medical Diagnostics to 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, and 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 the 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.
The current magnetic resonance imaging industry (http://www.reportsnreports.com/reports/239227-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.html) 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 bases 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 452.07˚F, 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 healthcare costs or, in the worst scenario, the need for an alternative technique for cooling MRI machines.
Moreover, changing healthcare reforms from early 2013 in the U.S. also resulted in 20-25% reimbursement cuts for MRI, affecting the global clinical OEMS, physicians and healthcare payers. Nevertheless, once market barriers of tight R&D budgets, high costs of MRI scans and alternate cooling systems are resolved, the industry is expected to grow considerably. With technology developers exploring many new applications, especially those involving cardiac and breast imaging, it was inevitable that magnetic resonance imaging would evolve into a highly sophisticated medical imaging tool.
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Scope of the Report
This research report evaluates the global market of magnetic resonance imaging by architecture, field strength, technology market, application, and geography. The report analyzes geography; forecasting revenues and trends in each of the following submarkets:
By Architecture
• Closed systems
• Open systems
By Field Strength
• Low field strength systems
• Mid field strength systems
• High field strength systems
By Technology
• MR Angiogram
• MR Venogram
• Functional MRI
• MR Spectroscopy
• Others -Fusion MR
By Application
• Whole Body MRI systems
• Interventional MRI systems
• MRI for Brain and Neurological disorder
• Breast MRI systems
• Cardiac MRI systems
• MR systems for Other applications such as -; Chest, Neck, Upper and Lower extremities
By Geography
• North America
• The U.S.
• Canada
Europe
• France
• Germany
•U.K.
Asia
• China
• Japan
• India
ROW
• Australia
• Brazil
• Israel
• Russia
Each section provides market data, market drivers, trends and opportunities, top-selling products, key players, and competitive outlook.
Key Company Profiles: Aurora Imaging Technology, Agilent Technologies, Inc., ASG Superconductors S.P.A., Advanced Imaging Research, Inc. Dba Sree Medical Systems, Bartington Instruments, Ltd., Bayer Healthcare Pharmaceuticals, Biophan Technologies, Inc., Bruker Biospin GmbH, Doty Scientific, Inc.. Esaote S.P.A, Fonar Corporation, Ge Healthcare, Hitachi Medical Corporation, Imris, Inc., Lmt Lammers Medical Technology Gmbh, Philips Healthcare, Shenzhen Basda Medical Apparatus Co. Ltd., Siemens Healthcare, Toshiba Medical Systems Corporation, Insightec Ltd. and more.
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