(PharmaNewsWire.Com, March 21, 2018 ) Publisher’s market research analysts predict the global MRI systems market to grow steadily during the forecast period and post a CAGR of almost 7% by 2021. This industry research report identifies the development of MRI-compatible pacemakers to be one of the major factors that will have a positive impact on the growth of the MRI machines market in the coming years. Though used primarily in diagnosing disorders in the central nervous system in radiosurgery for the treatment of intracranial tumors and arteriovenous malformations, MRI imaging techniques are now also being used for the diagnosis of cardiac and breast diseases. This led to the development of MRI-compatible pacemakers that offer increased patient safety and procedure accuracy in patient screening, which will in turn, fuel the growth of the MRI systems market.
This market research and analysis estimates that in terms of geographical regions, the Americas was the major revenue contributor to the MRI scanner market during 2016 and will continue to dominate the market during the next four years as well. The increased adoption of MRI systems due to their cost-effectiveness and non-invasive nature and the rise in demand from research institutes for screening different diseases, will be the major factors fueling market growth in the Americas.
Characterized by the presence of several Tier-1, Tier-2, and other small companies, vendor competition in the MRI systems market is intense. Additionally, the market also has the presence of software providers which further intensifies the level of competition in the market. MRI system manufacturers focus on increasing revenues through various distribution channels like direct sales, distributors, and supply chain networks and compete on the basis of various parameters such as competitive pricing, product differentiation, technology and imaging software upgrades, online and on-site servicing, and PPPs.
The leading vendors in the market are -
GE Healthcare
Philips Healthcare
Siemens Healthineers
Toshiba Medical Systems
The other prominent vendors in the market are Advanced Imaging Research, Biophan Technologies, Bruker, Esaote, Fonar, Hitachi Medical Systems, Mindray, Neusoft, and Ningbo Jansen NMR Technology.
Segmentation by type and analysis of the MRI Systems market
Open MRI systems
Closed MRI systems
During 2016, the closed MRI systems segment accounted for the major market shares and dominated the market. Though the growing popularity of open MRI equipment will result in decreasing this segment’s revenue shares, advantages such as high image quality and high magnetic field strength will aid in their adoption in the coming years.
Segmentation by MRI strength and analysis of the MRI systems market
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