Surging Chronic Conditions to Supplement Global Magnetic Resonance Imaging (MRI) Systems Market Growth
Inkwood Research anticipates that the Global Magnetic Resonance Imaging (MRI) Systems Market is evaluated to record a CAGR of 5.50% in terms of revenue during the forecasted years of 2021-2028.
“Browse 53 Market Data Tables and 48 Figures
spread over 229 Pages, along with an in-depth TOC on the Global Magnetic
Resonance Imaging (MRI) Systems Market Forecast
2021-2028.”
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Magnetic resonance imaging (MRI) is characterized
as a non-invasive imaging technology aiming to produce detailed 3-D
(three-dimensional) anatomical images. It is typically used for the detection
and diagnosis of diseases, in addition to monitoring further treatment. MRI
systems are based on a sophisticated technology that detects changes in the
rotational axis direction of protons found in water that constitutes living
tissues.
Increasing
Prevalence of Chronic Conditions to Augment Market Growth
The four most critical types of chronic
diseases entail cardiovascular ailments, chronic respiratory conditions,
cancer, and diabetes. The growing prevalence of chronic diseases, as well as
the need to comprehend its severity in patients suffering from the same,
propels the growth of MRI systems across the world. According to the World
Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause
of mortality globally, accounting for an estimated 17.9 million deaths every
year. Moreover, the incidence of chronic conditions was anticipated to increase
by 57% by 2020, thus significantly impacting developing healthcare segment
markets.
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Open MRI
Systems to be the Leading Architecture
Open MRIs use magnets to take images of the
inside of an individual’s body. Instead of an enclosed capsule, open MRI
systems utilize a magnetic top and bottom, in addition to being open on all
four sides. This substantially decreases the risk of claustrophobia and panic
attacks, therefore enabling the use of MRI to accurately diagnose conditions.
Moreover, in some cases, it is the only alternative for patients. Open MRI
systems also cost less than closed MRI systems, particularly in terms of
ongoing maintenance as well as upfront costs, since they use a cryogen-free
design with permanent magnets. In addition, several open MRI systems with a
weight-bearing feature allow technicians to tilt patients and scan them in a
standing position instead of lying flat.
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Asia-Pacific
Captured the Highest Market Share in 2020
The Asia-Pacific offers substantial
opportunities for MRI systems. Developing countries like India and China
represent the most populous nations across the region and contribute to the
rising demand for advanced healthcare facilities such as MRI systems. Moreover,
the rising number of older people, in addition to the rapid increase in the
incidence of lifestyle risk factors, are set to play an important role in
fueling the market growth in the Asia-Pacific.
The global market observes high competition
among existing players, including GE Healthcare, Siemens Healthineers, and
others. These companies, through substantial investments, attempt to improve
and expand their existing portfolio in order to strengthen their market
position. Hence, the competition is set to be intense.
Some of the key players operating in the
global market are Analogic Corporation, Hologic Inc, Hologic, Inc, etc.
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energy, with an objective comprehension that acknowledges the business
environments. Our geographical analysis comprises North & South America,
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