Magnetic Resonance Imaging (MRI) Systems Market to Surpass US$ 7,281.8 Mn by 2030 - Coherent Market Insights

Global Magnetic Resonance Imaging (MRI) Systems Market, by Type (Open and Closed), by Field Strength (High Field, Mid Field, Low Field), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 5,464.3 Million in 2022 and is expected to exhibit a CAGR of 3.7% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.

The increase in product launches by key market players is expected to drive growth of market over the forecast period. For instance, in December 2021, Fujifilm Healthcare Americas Corporation, a provider of diagnostic imaging and medical informatics solutions launched the Velocity MRI System. Velocity MRI System is an advanced, high-field open MRI system and is designed with an open gantry, integrated radiofrequency (RF) coils, and reconstruction technologies to improve workflow and patient experience The system's  Synergy Flex coil is   an open, vertical field MRI scanner, enabling rapid abdominal and orthopaedic imaging.

Moreover, the increasing number of research and development activities in magnetic resonance imaging market is expected to drive the market growth over the forecast period. For instance, in December 2019, researchers from Profound Medical, a company developing customizable, incision-free therapies which combine real-time Magnetic Resonance (“MR”) imaging, thermal ultrasound and closed-loop temperature feedback control for the radiation-free ablation of diseased tissue reported that the minimally invasive MRI-guided transurethral ultrasound ablation (Tulsa) treatment effectively treats prostate cancer with minimal side effects.

Global Magnetic Resonance Imaging (MRI) Systems Market – Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.

However, the COVID-19 pandemic had a positive impact on market, owing to the increasing use of MRI scanning in diagnostic purposes. For instance, in February 2021, according to an article published in Journal of Ultrasound, The Official Journal of the Italian Society for Ultrasound in Medicine and Biology, MRI have a role in the diagnosis of COVID-19 complications, such as cardiac complications or persistent myositis. MRI is also helpful to demonstrate incidental findings related to COVID-19 in the pulmonary parenchyma.

Global Magnetic Resonance Imaging (MRI) Systems Market: Key Developments

Increasing number of acquisitions between market players is expected to boost the market over forecast period.  For instance, in July 2022, Canon Medical Systems, a medical equipment company announces expansion of distributorship with the acquisition of NXC imaging, a medical imaging equipment distributor and service provider. This acquisition is expected to broaden and advance Canon Medical Systems U.S. sales and service outreach in the northern portion of the U.S.

Browse 27 Market Data Tables and 26 Figures spread through 150 Pages and in-depth TOC on “Global Magnetic Resonance Imaging (MRI) Systems Market”- Forecast to 2030 Global Magnetic Resonance Imaging (MRI) Systems Market, by Type (Open and Closed), by Field Strength (High Field, Mid Field, Low Field), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

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https://www.coherentmarketinsights.com/market-insight/magnetic-resonance-imaging-mri-systems-market-443

Increasing number of product approvals by regulatory authorities is expected to boost the market over forecast period. For instance, in November 2021, Hyperfine, Inc., U.S. based MedTech company, received U.S. FDA(Food and Drug Administration) clearance for advanced image reconstruction technology using Deep Learning Portable MRI. The enhanced image quality as a result of this new technique boosts the diagnostic utility of portable MRI.

Key Takeaways of the Global Magnetic Resonance Imaging (MRI) Systems Market:

• Global magnetic resonance imaging (MRI) systems market is expected to exhibit a CAGR of 3.7 % during the forecast period due to the technology advancements in the MRI processes. For instance, in December 2021 Siemens AG, a German-based conglomerate corporation developed new MRI technology in collaboration with researchers at The Ohio State University College of Medicine and College of Engineering. The new MRI, 0.55T MAGENTOM Free.Max has lower magnetic field strength that offers the potential for it to be used for lung imaging without X-ray radiation.
• Among field strength segment, high field segment is expected to exhibit highest CAGR in the global magnetic resonance imaging (MRI) systems market during the forecast period, this is attributed to increasing product launches and increasing availability by major players in the market. Key market players like Bruker and Siemens AG offers wide variety of high field strength MRI magnets range.
• Among regions, North America is estimated to account for the largest market share in the global magnetic resonance imaging (MRI) systems market, due to product launches by key market players. For instance, in May 2022, Bruker, U.S. based manufacturer company of scientific instruments for molecular and materials research, announced launch of new 7 Tesla and 9.4 Tesla Preclinical MRI Magnets. 7 Tesla and 9.4 Tesla magnets eliminates the need for liquid Helium or Nitrogen refills, while offering high-field sensitivity and resolution for advanced preclinical MRI and PET/MR research.
• Major players operating in the global magnetic resonance imaging (MRI) systems market include Seimens AG, Koninklijke Philips N.V., Medtronic plc, Aurora Imaging Technologies Inc., General Electric Company, Hitachi Ltd., Esaote SpA, The InterMed Group, and Canon Medical Systems Corporation.