According to a report on Radiant Insights, Inc. the worldwide MRI systems market is likely to show exponential growth by 2022.Factors such as rising elderly population, improvements in MRI systems, increasing demand for minimally invasive diagnostic procedures, and Increase in implementation of MRI systems in clinics, hospitals, and diagnostic centers can propel the market during the forecast period (2016 to 2022).
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Growing use of MRI technique is associated with increasing occurrence of chronic disease that needs early diagnosis and immediate treatment for preventing late stage complications. In addition, increasing number of road accidents has imposed injuries and several complications, which are driving demand for these techniques. Anatomical and physiological scanning abilities of MRI system empower its application in imaging several organs including brain, abdomen, heart, spine, pelvis, musculoskeletal structure and breast. Advancements in scanning systems such as software applications, open systems, development of superconducting magnets and ultra-high field MRI, and introduction of MRI-compatible pacemakers will create positive outlook for the market. Additionally, progresses such as gadolinium-DTPA and paramagnetic contrast agent are used as intravenous injection to obtain sharp and accurate and precise images within a short duration.
However, high cost associated with these products and requirement of skilled specialist to operate these products may challenge the market growth.
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The worldwide MRI system market can be fragmented on the basis of product and application. Based on product, the market can be segmented into open MRI and close MRI. As per application, the market can be fragmented into spine and musculoskeletal MRI, vascular MRI, brain and neurological MRI, breast MRI, pelvic and abdominal MRI, and cardiac MRI.
Geographically, the market can be divided into Europe, North America, Southeast Asia, China, Japan India. North America is considered as one of the largest markets due to high adoption of advanced technologies and research and developments in the region.
Factors such as developed healthcare infrastructure, availability of variety of advanced imagining system for diagnosis, favorable refund policies and insurance coverage allow patients to undergo primary diagnosis that is necessary, while treating chronic diseases. Southeast Asia is likely to show rapid growth in the years to come. This growth can be associated with rising geriatric population, increasing disposable income, and growing awareness among the people. In addition, flourishing medical tourism industry is also expected to increase the growth in the near future. Emerging countries such as India, China, and Japan are also creating growth opportunities with improvements in healthcare infrastructures, existence of skilled healthcare professionals, and advanced healthcare services at less cost with compare to other developed countries.
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Key companies operating in the market include Siemens Healthcare, GE Healthcare, Toshiba Medical System, Hitachi Medical, and Philips Healthcare. Novel application areas like breast cancer, detection of multiple sclerosis, breast cancer, and development of hybrid MRI systems will offer new growth prospects to companies in the market.
Recently, Samsung Electronics, provider of medical imaging technology introduced a OmniTommobile 16-slice computed tomography (CT) scanner. It has received a 510(k) FDA clearance for the U.S. market. The system is an improved version of company’s CereTom CT scanner. It is a mobile imaging device and can be used for cranial procedures.
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