Global Magnetic Resonance Imaging (MRI) Equipment Market to Reach US$8.2 Billion by 2017, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Magnetic Resonance Imaging (MRI) market. Global market for MRI equipment is projected to reach US$8.2 billion by 2017, driven by latest advances in technology, increasing number of applications for MRI equipment, increased utilization of MRI in conjunction with other modalities, and increased demand from developing countries.

Magnetic Resonance Imaging (MRI) Equipment: A Global Strategic Business Report

Follow us on LinkedIn – Global market for MRI systems is expected to grow backed by advancements in MRI technology and usage of MRI in newer applications such as identification of multiple sclerosis, among others. The market managed to sustain positive growth during recession due to the continuous improvements in the image quality and equipment features. Further, the development of newer techniques for imaging of specific portions of brain’s complex structure is driving growth in the MRI market. MRI is also finding use in conjunction with other modalities for achieving higher levels of image clarity. Also, 3-D MRI is expected to find use as a substitute for arthroscopy. The ability of MRI systems to image functionally as well as anatomically has allowed the technology to find footing in the diffusion and perfusion imaging, and surgical planning and navigation fields. The market is also witnessing a trend towards development of hybrid systems and integrated technology. Equipment incorporating innovative advancements such as improved temporal resolution, reduced exposure to radiation and reduced scanning time are expected to fuel market growth.

Globally, the expanding use of MRI technology into newer geographical regions is expected to fuel market growth. Europe is a more mature market for MRI systems akin to the US and increasing applications in areas such as breast, neurology and cardiac divisions would drive MRI market in Europe. Among the Asian countries, Japan continues to adopt newer technologies faster, thereby enabling the introduction of novel 3.0T equipment in Japanese market. Major economies such as North America, Europe, and Japan are expected to witness a decrease in market share while newer markets improve their share in the market.

As stated by the new market research report on Magnetic Resonance Imaging (MRI) Equipment, the US represents the largest regional market. The market is witnessing increasing use of dedicated systems meant for specific application including heart, brain and orthopedics. Very High-Field Systems represent the fastest growing segment as hospitals and clinics upgrade old equipment with next state-of-the-art systems. Technological advancements and aging baby-boomer population are forecast to propel growth of the market. In developing countries of Asia-Pacific and Latin America, technological advancements and increased utilization of imaging equipment are major drivers of growth in the MRI market.

In value terms, MRI equipment market in Asia-Pacific is poised to grow at the fastest compounded annual growth rate of 8.2% over the analysis period. Improved spending capability and greater awareness about healthcare services is fuelling demand for MRI technology across Asian countries. The region holds enormous growth potential, particularly from countries with large population base such as India and China. The demand is anticipated primarily from stand-alone imaging facilities, and private hospitals, as compared to public hospitals. The MRI equipment market is also likely to gain from the rising incidences of neurological, oncological, and cardiac diseases in the region. Among various segments, Closed MRI Systems, with their capability to deliver high clinical value account for largest share of the market. However, Open MRI Systems is expected to register fastest growth with a CAGR of 8.3% over the analysis period.

Major players profiled in the report include Esaote SPA, FONAR Corporation, GE Healthcare, Hitachi Medical Corporation, IMRIS Inc., Medinus Co., Ltd., Medtronic Navigation Inc., Millennium Technology Inc., Philips Healthcare, Shenzhen Anke High-tech Co., Ltd., Siemens Healthcare, Toshiba Medical Systems Corp., Beijing Wandong Medical Equipment Co., Ltd, and Koninklijke Philips Electronics N.V.

The research report titled “Magnetic Resonance Imaging (MRI) Equipment: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the Magnetic Resonance Imaging (MRI) Equipment market, current trends, growth drivers, new product introductions, recent industry activity, and focus on major global market players. The study analyzes market data and analytics in terms of value and volume sales for the global market by the following regions - US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, and Rest of Europe), Asia-Pacific, Latin America, and Rest of World. Key product segments analyzed include Closed MRI Systems and Open MRI Systems. In addition, the US Market for MRI Equipment is analyzed by Magnetic Field Strength, namely Low & Mid-Field Systems, High Field Systems and Very-High Field Systems.

For more details about this comprehensive market research report, please visit –

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
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