Global MRI Scanner Market – Industry Trends and Forecast to 2028

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Market Analysis and Insights : Global MRI Scanner Market

The MRI scanner market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 4.98% in the forecast period of 2021 to 2028 and is expected to reach USD 8,422.16 million by 2028. Growing geriatric population and rising per capita income are the major drivers which have propelled the demand of the MRI scanner market in the forecast period.

MRI scanner is a type of advanced medical imaging technique which uses magnetic fields, magnetic field gradients and radio waves to capture the images of patients’ inner body. MRI Scanner has several advantages as compared to other imaging modalities. The MRI scanner includes an electromagnetic field and large static magnetic field to produce detailed images.

Increasing prevalence chronic diseases is acting as a driver for the growth of the MRI scanner market. Increase in use of refurbished and reused MRI products is acting as a restraint for the MRI scanner market. Increasing healthcare expenditure and infrastructure across the world is acting as an opportunity for the MRI scanner market. Strict regulations and standards for the approval and commercialization of MRI devices are acting as challenge for the MRI scanner market.

The MRI scanner market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the MRI scanner market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

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MRI Scanner Market Scope and Market Size

The MRI scanner market is segmented on the basis of the type, product, application, end user and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

• On the basis of product, the MRI scanner market is segmented into closed MRI systems and open MRI systems. In 2021, closed MRI systems segment is dominating the market due to the rising prevalence and incidence of chronic diseases.
• On the basis of type, the MRI scanner market is segmented into portable type and desktop type. In 2021, desktop type segment is dominating the market due to growing patient emphasis on effective and early disease diagnosis.
• On the basis of application, the MRI scanner market is segmented into oncology, neurology, cardiology, pelvic and abdominal, musculoskeletal and other applications. In 2021, neurology segment is dominating the market due to increasing cases of brain and neurological across the world.
• On the basis of end user, the MRI scanner market is segmented into hospital, clinic, ambulatory surgical centers, scientific research and other. In 2021, hospital segment is dominating the market due to growing number of hospitals in low and middle income countries.
• On the basis of distribution channel, the MRI scanner market is segmented into direct tender and retail sales. In 2021, direct tender segment is dominating the market because direct tender holds the largest market share along with the highest CAGR because most of the service providers buy the devices from manufacturers and it is noticed that revenue from direct sales is higher, so it is influential as well as growing in the market.

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Global MRI Scanner Market Country Level Analysis

Global MRI scanner market is analyzed and market size information is provided by the country, type, product, application, end user and distribution channel.

The countries covered in the global MRI scanner market report are the U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey, rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, Saudi Arabia, South Africa, UAE, Israel, Egypt and rest of Middle East and Africa.

The U.S. is dominating in the North America MRI scanner market as the desktop type segment in North America region is expected to grow with the highest growth rate in the forecast period of 2021 to 2028 owing to growing usage of MRI scanner during diagnosis. Japan is the leading country in the growth of the Asia-Pacific MRI scanner market due to growing geriatric population as well as technological advancements in the healthcare sector. The U.K. is dominating in the Europe MRI scanner market owing to escalation in healthcare expenditure in the region.  

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

Growing Strategic Activities by Major Market Players to enhance the Awareness for MRI Scanner is boosting the MRI Scanner Market Growth

The MRI scanner market also provides you with detailed market analysis for every country growth in MRI scanner industry. Moreover, it provides detailed information regarding MRI scanner sales, impact of regulatory scenarios, and trending parameters regarding MRI scanner market. The data is available for historic period 2011 to 2019.

Competitive Landscape and MRI Scanner Market Share Analysis

The MRI scanner market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to global MRI scanner market.

The major companies covered in the global MRI scanner market report are Aspect Imaging, CANON MEDICAL SYSTEMS CORPORATION (a subsidiary of Canon Inc.), Siemens Healthcare GmbH, GE Healthcare, Hitachi, Ltd., Koninklijke Philips N.V., Neusoft Corporation, ESAOTE SPA, FONAR Corp., Synaptive Medical, AllTech Medical Systems, Shanghai United Imaging Medical Technology Co., Ltd., Medonica Co. LTD, IMRIS, Promaxo, Aurora Healthcare US Corp, SG HealthCare, Elekta AB, Beijing Wandong Medical Technology Co., Ltd, ASG Superconductors spa, MinFound Medical Systems Co., Ltd., Hyperfine, SternMed GmbH and Time Medical Holding among other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.   

Many contracts and agreements are also initiated by the companies’ worldwide which are also accelerating the MRI scanner market.

For instance,

• In December 2019, Siemens Healthcare GmbH announced that they have launched multiple software assistants based on artificial intelligence (AI) which are specially designed to free radiologists from the burden of performing routine activities during magnetic resonance imaging (MRI) examinations. After launching such type of innovative software for magnetic resonance imaging (MRI), the company enhanced the credibility of their product portfolio.

Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market players is enhancing the company footprints in the MRI scanner market which also provides the benefit for organization’s profit growth.

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