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MRI Systems Market To Expand By A CAGR Of 6.5% On The Back Of Rising Geriatric Population During 2019-2027

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Research Nester released a report titled MRI Systems Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global MRI systems market in terms of market segmentation by system type, by mobility, by application, by end user and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

The market for MRI systems is anticipated to record a CAGR of about 6.5% during the forecast period, i.e., 2019-2027. This can be attributed to the growing geriatric population across the world. According to WHO, the proportion of world’s population above the age of 60 was estimated to increase from 12% to 22% between 2015 and 2050.The market is segmented by system type, by mobility, by application, by end user and by region, out of which, the system type segment is further bifurcated into closed MRI systems and open MRI systems. On the basis of system type, the closed MRI systems are estimated to hold the largest share during the forecast period on account of higher quality of images provided by this scanning system along with lesser time taken to scan.

Based on region, the market in North America is anticipated to retain the largest share in the MRI systems market as a result of increasing advancements in technology in the medical industry and rising healthcare expenditure by people in the region. Moreover, the market in Asia-Pacific region is projected to observe the highest growth rate during the forecast period on account of entrance of major key players in order to expand the business along with rising geriatric population in the region.

Growing Awareness For Early Detection And Improved Diagnosis Of Disorders To Support The Market Growth

Magnetic Resonance Imaging (MRI) is a relatively safe diagnostic imaging test as compared to x-rays and CT scans. MRI scans do not use strong harmful radiations which is anticipated to significantly propel the market growth during the forecast period.

However, MRI scans cannot be used by people with metal implants such as pacemakers as metal objects interfere with the imaging process and harm the person as well. This is a major restraining factor estimated to restrict the market growth.

This report also provides the existing competitive scenario of some of the key players of the global MRI systems market which includes company profiling of Koninklijke Philips (PHIA), General Electric Company (GE), Siemens Healthcare Private Limited (SHL), Hitachi Medical Systems, Canon Medical Systems, Aurora Healthcare, Neusoft Corporation (SHA: 600718), Bruker (BRKR), Time Medical Holding and Fonar Corporation (FONR). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global MRI systems market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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