Magnetic resonance imaging (MRI) machines utilize radiological procedures to capture images of anatomical structures and physiological processes within a patient's body. These images are instrumental in diagnosing various medical conditions such as brain tumors, multiple sclerosis, stroke, brain injuries, developmental abnormalities, dementia, infections, and causes of headaches. The non-invasive nature of MRI scans makes them a valuable diagnostic tool for a wide range of medical disorders. The applications of magnetic resonance imaging devices span radiology, neurology, orthopedics, cardiology, oncology, and many other medical specialties.
According to Data Bridge Market Research, the Magnetic Resonance Imaging Devices Market is accounted for USD 6,209.40 million and is expected to reach USD 8,937.54 million by 2029. The market is expected to grow with a CAGR of 4.00% in the forecast period of 2022 to 2029.
“Rise in the demand for vision-guided robotic systems boosts the market’s growth”
The magnetic resonance imaging (MRI) market is experiencing growth due to the increasing demand for vision-guided robotic systems. Vision-guided robotic systems offer precise and automated assistance during MRI procedures, improving the accuracy and efficiency of imaging. These systems utilize advanced imaging technologies and algorithms to guide robotic movements, resulting in enhanced image quality and reduced variability. The demand for such systems is driven by the need for improved diagnostic capabilities and streamlined workflows in MRI. The integration of vision-guided robotic systems in MRI setups contributes to the market's expansion by enhancing the overall imaging experience and outcomes for patients.
What restraints the growth of the magnetic resonance imaging devices market?
“Scarcity of skilled and trained professionals restraints the market’s growth”
The growth of the magnetic resonance imaging (MRI) market is hindered by the scarcity of skilled and trained professionals in the field. MRI requires specialized knowledge and expertise to operate and interpret the imaging results accurately. The limited availability of skilled professionals, such as radiologists and MRI technicians, poses a challenge to the market's growth. It creates a bottleneck in the delivery of MRI services, leading to longer waiting times and reduced accessibility. Efforts to address this scarcity through training programs and recruitment initiatives are crucial for overcoming this restraint and facilitating the market's expansion.
Segmentation: Magnetic Resonance Imaging Devices Market
The magnetic resonance imaging devices market is segmented on the basis of field strength, type, modality, indication, end user, and distribution channel.
- On the basis of field strength, the magnetic resonance imaging devices market has been segmented into high-field MRI systems, mid-field MRI systems, low-field MRI systems, and others.
- On the basis of type, the magnetic resonance imaging devices market has been segmented into closed MRI systems, wide bore MRI, and open MRI systems.
- On the basis of modality, the magnetic resonance imaging devices market has been segmented into stationary system, portable/mobile system and point-of-care (POC) system.
- On the basis of indication, the magnetic resonance imaging devices market has been segmented into brain and neurological, musculoskeletal, cardiology, mammography, oncology, pelvic and abdominal, gynecology, urology, dental, and others.
- On the basis of end user, the magnetic resonance imaging devices market has been segmented into hospitals, diagnostic centers, imaging centers, specialty clinics, ambulatory surgical centers, and academic and research institutes.
- On the basis of distribution channel, the magnetic resonance imaging devices market has been segmented into direct tender and retail sales.
Regional Insights: North America dominates the magnetic resonance imaging devices market
North America dominates the magnetic resonance imaging devices market due to the increase in the region, propelling the growth of the market. Additionally, the growing prevalence of chronic diseases will further fuel the expansion of the magnetic resonance imaging devices market.
Asia-Pacific is expected to show a significant amount of growth in the forecast period of 2022 to 2029 due to the increasing demand. Furthermore, the market is expected to be driven by the rising frequency of analysis and government initiatives aimed at raising awareness about the significance of medical analysis.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-magnetic-resonance-imaging-devices-market
Recent Developments
- In January 2019, Koninklijke Philips N.V. introduced advanced imaging system solutions, namely Next MR Wave (Ingenia Ambition, Ingenia Elition), in India. These cutting-edge MR technologies offer comprehensive information to healthcare professionals, enabling precise and accurate diagnoses. This enhancement in the company's product portfolio not only improves patient care but also contributes to increased revenue generation. The launch of these advanced imaging solutions positions Koninklijke Philips N.V. as a leader in the market, meeting the evolving needs of clinicians and enhancing diagnostic capabilities.
The Prominent Key Players Operating in the Magnetic Resonance Imaging Devices Market Include:
- Aspect Imaging (Israel)
- CANON MEDICAL SYSTEMS CORPORATION (Japan)
- Siemens (Germany)
- General Electric Company (U.S.)
- Hitachi, Ltd. (Japan)
- Koninklijke Philips N.V. (Netherlands)
- Neusoft Corporation (China)
- ESAOTE SPA (Italy)
- FONAR (U.S.)
- Synaptive Medical (Canada)
- AllTech Medical Systems (U.S.)
- United Imaging Intelligence (China)
- Medonica Co. LTD (South Korea)
- IMRIS (Canada)
- Promaxo (U.S.)
- AURORA HEALTHCARE US CORP (U.S.)
- SG HealthCare Pvt. Ltd. (India)
- HYPERFINE (U.S.)
- Elekta AB (Sweden)
- Beijing Wandong Medical Technology Co.,Ltd (China)
- ASG Superconductors spa (Italy)
Above are the key players covered in the report, to know about more and exhaustive list of magnetic resonance imaging devices market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Magnetic Resonance Imaging Devices Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
