19 November 2019 - Magnetic Resonance Imaging (MRI) Market
was valued at USD 3.2 billion in 2015. The systems are used mainly for the
detection of central nervous system (CNS) related diseases such as tumors,
spine lesions, stroke influenced area in brain and blood vessels. The main
driving factor for this market is increasing elderly population and high
incidences of CNS diseases. The high rates of chronic diseases due to the
increased geriatric population and demand for the minimally invasive or
non-invasive diagnostic procedures fuel the market growth.
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The technology advancement in various screening techniques
namely open systems, software up gradation and superconducting magnets supports
the market growth. The combination of MRI and pacemaker is a new technology
development open the new door for MRI market due to its duel advantage and
application. The higher adoption in the technology is due to the its sharp and
precise images in short period of 20 minutes time because of its paramagnetic
contrast agent and gadolinium-DTPA use as an intravenous injection.
The high cost of devices and maintenance as well as
servicing cost are hinders the market growth. The helium gas usage in machine
cooling increases the total operation time and shrinks the productivity. The
product approval from FDA and other regulatory authorities are one of the
biggest challenge for the market.
Market Segment:
Magnetic Resonance
Imaging Architecture Outlook (Revenue, USD Million; 2014 - 2025)
• Closed
Systems
• Open Systems
Magnetic Resonance
Imaging Field Strength Outlook (Revenue, USD Million; 2014 - 2025)
• Low Field
Strength
• Mid Field
Strength
• High Field
Strength
Magnetic Resonance
Imaging Application Outlook (Revenue, USD Million; 2014 - 2025)
• Brain and
neurological
• Spine and Musculoskeletal
• Vascular
• Abdomen
• Cardiac
• Breast
• Others
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Product Insights
The product is categorized as closed and open type based on
its design. The closed type of instrument captures the largest market in 2015.
On the other hand the product acceptance of closed instrument is very law for
the claustrophobic patients due to the fear of suffocation so the market
opportunities for the open instrument is very high in projected forecast
period.
The instrument is also classified as mid field strength
devices and high strength devices. The Mid field strength devices is more
preferred due to its cost, speed of scanning and resolution. Thus, the mid
field strength devices account the largest revenue share in 2015.
Application Insights
The MRI technique dominates the medical diagnosis market due
to its various biomedical applications. The MRI is used for the scanning of
various body parts such as abdomen, pelvis, brain, spine, heart, breast and
musculoskeletal structure due to its anatomical and physiological scanning
competence.
The other alternative failed to give accurate and precise
imaging results for the neural and brain disorders that boosts the market
growth for MRI market. The lack of other alternatives are the prime market
driver for MRI and encourage the market growth during the forecast period. The
MRI market is not so suitable for the breast and cardiac imaging due to the
other strong preferable techniques such as of X-ray and other fist line imaging
techniques.
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