Global MRI systems market is expected to grow at a CAGR of 5.2% for the forecasted period of 2015 to 2021. MRI systems market is driven by various factors which include global increase in neurological diseases, global rise in cancer, CVD and other life style oriented diseases, global rise in adoption of diagnostics system. Research and development, innovation and technological advancement enables the global MRI systems market to grow fast. Global rise in healthcare expenditure is also favourable for global MRI systems market.
However, the market is restrained by reimbursement policies in various regions especially emerging markets such as India and China. There is a very high cost involved in setting up MRI systems in hospitals and clinics. The hospitals and clinics have to make infrastructural changes to accommodate a new MRI machine. Some MRI machines may cost over $800,000 to $1 million. Market also faces challenges such as creating awareness in emerging economies and stringent government policies and regulations.
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Market segmentation is on the basis of application which includes brain and neurological MRI market, spine and musculoskeletal MRI market, vascular MRI market, pelvic and abdominal MRI market, breast MRI market and cardiac MRI market. MRI market is also segmented on the basis of architecture which includes closed MRI systems market and open MRI systems market. Field strength is also taken as a basis of segmentation. The sub segments include low to mid field MRI systems, high field MRI systems, very high field MRI systems and ultra-high field MRI systems.
North American market has the highest market share amongst geographies. It is followed by Asia Pacific, Europe and Rest of the world. Asia Pacific market is expected to record highest CAGR amongst all regions. Market consists of major players such as Aurora imaging technology Inc, Esoate SPA, Fona corporation, IMRIS, Inc, Neusoft medical systems co. ltd, Philips healthcare, Esaote S.P.A, GE Healthcare, Hitachi Medical Corporation and others.
Companies profiled in the report
1. Aurora imaging technology Inc
2. Esoate SPA
3. Fona corporation
4. IMRIS, Inc
5. Neusoft medical systems co. ltd
6. Philips healthcare
7. Esaote S.P.A
8. GE Healthcare
9. Hitachi Medical Corporation
10. Mindray Medical International Ltd.
11. Samsung Medison Co. Ltd.
12. Siemens Healthcare
13. Medtronic Inc
14. Toshiba Medical Systems Corporation
15. Roche Diagnostics Ltd.
16. Philips corporation
17. Stryker corporation
18. Smith and nephew inc
19. Johnson & Johnson
21. Zimmer holdings
22. St. Jude medical Inc
23. Thermo fisher scientific
24. Abiant Inc
25. EKF diagnostics holdings inc
26. Myriad RBM inc
27. Oligomerix inc
28. Opko health inc
29. Osta biotechnologies inc
30. Psynova neurotech ltd
31. Ridge diagnostics
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This Occams Research Report covers
1. Historical data
2. Revenue forecasts, growth rates and CAGR up to 2021
3. Industry Analysis
4. Competitive Analysis
5. Key geographic growth data
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