Advanced Diagnostic Technology: Growth and Trends in the Global MRI Market

MRI Industry was worth US$ 5.61 Bn in 2021 and total revenue is expected to grow at a rate of 6 % CAGR from 2022 to 2029, reaching almost US$ 8.95 Bn in 2029.

MRI Industry Overview:

MRI Industry 2021 by Manufacturers, Regions, Forecast to 2029, published by Maximize Industry Research, is the culmination of thorough primary and secondary research. The research completely provides a detailed analysis of regional insights in the MRI Industry, as well as its changing trends, industry environment, and all of the Industry-leading elements. The research approach was used to investigate the global MRI Industry, and the results were logically presented in the report.

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MRI Industry Scope

MRI# Industry report provides in-depth analysis, knowledge and understanding of trends, dynamics, restraints, and opportunities. Research identifies the most important trends that impact business operations. It helps to identify the information included in the research that determines the competitive landscape of key companies, the factors affecting the MRI Industry size and volume, and other aspects that help to determine the current Industrying plan. SWOT analysis is conducted to find the strengths and weaknesses of the MRI Industry.

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Segmentation

by Application

• Spine and musculoskeletal MRI
• Brain and neurological MRI
• Vascular MRI
• Pelvic and Abdominal MRI
• Breast MRI
• Cardiac MRI

The market is further divided based on application into vascular MRI, breast MRI, cardiac MRI, brain and neurological MRI, pelvic and abdominal MRI, spine and musculoskeletal MRI, and vascular MRI. The market was dominated by MRI systems, which had the largest market share of 24.2% in 2021 and generated scans of a higher quality than computerised tomography systems. Similar to this, it is anticipated that the market for breast imaging would grow rapidly as the incidence of breast cancer rises, increasing the need for identifying risk factors for the disease. As a result, MRI techniques help in the providing of quantitative information regarding cancer by identifying the biological and physical properties of tissue.

by Architecture

• Open MRI Systems
• Closed MRI Systems
• Standard Bore
• Wide Bore

The market is divided into Open MRI Systems, Closed MRI Systems, Standard Bore, and Wide Bore based on architecture. With a 75.8% market share in 2021, the closed MRI system category dominated the market. The closed MRI system uses powerful magnetic fields and high-frequency radio waves to produce detailed images. Accurate slice selection and analysis are made possible by the closed structure. Patients in closed MRIs may experience claustrophobia and discomfort due to the intense noise.

by Field Strength

• Low-to-mid Field
• High-field
• 1.5T
• 3T
• Very-high Field

The market is divided into Low-to-mid Field, High-field, 1.5T, 3T, and Very-high Field strength categories based on field strength. With a 35.5% market share in 2021, the low to mid field was in the lead and is predicted to expand significantly throughout the projection period. These inexpensive, easily available field strength MRI scanners help acquire pictures with greater accuracy. The field strength of low-field MRI machines is less than 1.5T, that of mid-field MRI machines is between 1.5T and 3T, and that of high-field MRI machines is greater than 3T. During the projected period, the low field segment is predicted to increase the least.

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Key Players

• Siemens Healthineers
• GE Healthcare
• Phillips
• Hitachi
• Canon Medical Systems
• Koninklijke Philips N.V.
• Aurora Imaging Technologies Inc.
• General Electric Company
• Esaote SpA
• Toshiba Corporation.
• Aspect Imaging
• Bruker
• Fonar
• Neusoft Medical Systems
• Shenzhen Mindray Bio-Medical Electronics
• Xingaoyi
• Aurora Imaging Technology
• Sanrad Medical Systems Pvt. Ltd.
• Mindray Medical International Limited
• Hologic, Inc.
• Nordion Inc.
• United Imaging Healthcare Co., Ltd.

Regional Analysis

MRI Region dominated the MRI Industry in 2022 and is expected to witness significant growth during the forecast period. Government initiatives in the sector and regulations and rein in rising expenses drive the MRI Industry growth in the region. The MRI Industry report includes a geographic condition of the Industry, and revenue as well as in-depth research into the business network structure, opportunities, and news updates.

Key Questions answered in the MRI Industry Report are:

• What is MRI Industry?
• What is the forecast period of the MRI Industry?
• What is the competitive scenario of the MRI Industry?
• Which region held the largest Industry share in the MRI Industry?
• What are the opportunities for the MRI Industry?
• What factors are affecting the MRI Industry growth?
• Who are the key players of the MRI Industry?
• Which company held the largest share in the MRI Industry?
• What will be the CAGR of the MRI Industry during the forecast period?
• What key trends are likely to emerge in the MRI Industry in the coming years?

Key offerings:

• Industry Share, Size, and Forecast by Revenue|2022-2029
• Industry Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
• Industry Segmentation: A detailed analysis by MRI
• Landscape- Leading key players and other prominent key players.

About Maximize Industry Research:

Maximize Industry Research is a multifaceted Industry research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide Industry-verified industry estimations, technical trend analysis, crucial Industry research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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