Magnetic Resonance Imaging (MRI) technology refers to the method of capturing the images of physiological processes in the interior parts of the body, mostly used in radiology. Closed MRI systems are made up of a tube-like tunnel which is used to obtain high resolution. Closed MRI provides better visual 3D images of the inner structure of the body. It delivers several advantages including diagnosis of numerous diseases, for example, breast cancer, prostate cancer, multiple sclerosis and spinal tuberculosis and more. Closed MRI provides better results than open MRI and uses high field strength of 1.5 Tesla and 3.0 Tesla, which has the provision of giving more clear imaging results.
There are more benefits of using closed MRI system than the open system that has anticipated boosting the growth of the market. Furthermore, rising awareness about advanced technology of closed MRI over X-ray is attributed to increasing the growth of the market over the forecast period. Moreover, the rising number of installation of MRI machine in hospitals is providing lucrative growth opportunities for the closed MRI systems market.
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For example, G. Green Construction Co., a leading company in full-service builder and construction, took a step to install 3T MRI systems of Siemens Company at Boston’s children hospital in March 2018. Moreover, similar strategies are adopted by numerous key players such as Cape Breton Regional Hospital, situated in Canada, to set up a new MRI unit to enhance its product portfolio and deal with a large number of customers.
Moreover, rising prevalence of brain and spinal injuries is witnessing the remarkable growth of the market. For instance, according to the estimation of National Spinal Cord Injury Statistical Center, around 54 incidences per one million individuals in the U.S. are occurring of spinal cord injury annually from the U.S. population of 327 million people and there are approximately 17700 new spinal cord injuries incidences each year.
However, there are several restraints in the closed MRI systems market. There are many patients who have suffered from sudden attacks during MRI, which is anticipated to trigger the growth opportunities of the market. For example, estimation of Health Research Funding Organization stated that due to claustrophobia, the owing structure of tube-like tunnel of closed MRI, approximately 13% of the individuals suffered from panic attacks in the course of MRI diagnosis. This is attributed to be major restraint of the market growth.
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Furthermore, expensive diagnosis of closed MRI is anticipated to impede the market growth. Moreover, developing countries have lack of skilled professional which might the hamper the market expansion in these regions. According to Global Health Workforce Labour Market estimation, there has been a greater demand for the health workers since 2013 and will rise up to 80 million workers. Moreover, there is scarcity of around 15 million health employees worldwide. According to a new statistics provided by the World Health Organisation (WHO), India has a shortage of 500,000 health employees. In view of all the above facts, this may hinder the growth of closed MRI system market.
Geographically, the metabolic testing market is segmented on the basis of the region covering North America, Asia Pacific, Europe, and LAMEA. Europe is expected to be dominant in the closed MRI systems market due to several factors including increased adoption of closed MRI systems market and development of MRI compatible market. In addition, increasing geriatric population and the rising awareness related to benefits of closed MRI in the medical treatment, owing to increase in the neurological and brain MRI are the major factors attributed to a positive influence in the market.
Furthermore, according to the survey of European Magnetic Resonance Forum, the demand of closed MRI system market is higher than open MRI system in Europe. This has led to providing huge opportunities for the market growth.
Prominent key players in the market are: Hitachi Medical Corporation, Siemens Healthineers, GE Healthcare, Canon Medical Systems, Philips Healthcare, Toshiba Medical Systems, Aspect Imaging, Aurora Medical Imaging, Esaote S.P.A., and Fonar Corporation.
With the vision of increasing the MRI business and integrate the advanced technology of it by offering better medical solutions, a leading company, “Toshiba Medical Systems” has done an acquisition of “Olea Medical” a global developer of medical imaging application.
By Strength of Magnetic Field:
o 3.0 Tesla
o 1.5 Tesla
By End Users:
o Research Institutes
o Diagnostic Centres
o North America (U.S and Canada)
o Europe (Germany, France, Italy and Rest of Europe)
o Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific)
o LAMEA (Brazil, Turkey, Saudi Arabia, South Africa and Rest of LAMEA)
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