The global market for MRI systems was $4.9 billion in 2012. This market is projected to reach $5.4 billion in 2013 and $6.9 billion by 2018, at an estimated compound annual growth rate (CAGR) of 5% from 2013 to 2018.
This report provides:
- Descriptions of the trends and developments for each type of MRI technology and how each is meant to satisfy the needs of customers.
- Analyses of market trends, with data from 2012, estimates for 2013 and projections of compound annual growth rates (CAGRs) through 2018.
- Examination of the MRI business in terms of specific companies and their position in the market.
- Identification of highly competitive MRI industries and their position in the overall imaging market.
MRI MARKET, BY GEOGRAPHIC REGION, IN 2013 AND 2018
Source: BCC Research
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STUDY GOALS AND OBJECTIVES
The current report focuses on the magnetic resonance imaging (MRI) portion of the overall imaging market. Within the imaging market, there are technologies such as ultrasound, fluoroscopy, X-rays, computed tomography (CT) scans, and positron emission tomography (PET) scans that provide significant competition to MRI imaging. Each has its own advantages and disadvantages based on visualization capabilities and costs.
The analysis of the imaging market indicates that MRI scans constitute approximately 12% of the market, with less comprehensive tests such as ultrasound, fluoroscopy and X-rays capturing more than 50% of the market. Determining the influence of MRI on future health-care trends and the viability for market expansion in globally stringent reimbursement and regulatory environments are key reasons for conducting this market study.
The goal of this study is to describe and discuss changes in the global MRI market, including the following objectives:
- To describe the trends and developments for each type of MRI technology and how each is meant to satisfy the needs of customers.
- To analyze market and driving forces to determine the market size for the technologies and pinpoint target applications.
- To examine the MRI business in terms of specific companies and their position in the market.
REASONS FOR DOING THE STUDY
- Macro trends that benefit the MRI market include
- A globally aging population.
- Continued global urbanization.
- Prevalence of major diseases such as heart disease, cancer and diabetes.
- Expanding access to health-care products and services, particularly in rural areas and for younger populations.
- Negative global trends include:
- Tightening medical insurance reimbursement policies.
- Economic uncertainty throughout the world.
- Reluctance to embrace new technologies.
- Increasing competition from other imaging technologies.
- Stricter governmental regulations.
This study will explore the keys to continued growth in this industry, including increasing sales in developing regions, expanded services, a strong pipeline of new products, and new applications for existing technologies.
This study of the competitive and evolving MRI industry will be beneficial to diagnostic industry participants holding marketing, management and technical development positions. It will also benefit readers who are suppliers to this industry. Additionally, investors, venture capitalists, insurance companies, and those interested in various aspects of the MRI industry will find this report valuable.
SCOPE OF REPORT
The report concentrates on highly competitive MRI industry and its position in the overall imaging market.
The MRI market encapsulates current and potential products, related technologies, components and component suppliers, end markets, governmental and regulatory agencies, major companies competing in this market, relative market shares, and the impact of the worldwide market status.
This study defines the MRI market and provides detailed information on the following:
- Products that comprise the MRI industry.
- Emerging and current MRI technologies.
- Analysis of these technologies and the effect on future market development.
- Market structure and current market size, with forecasts by type of product and market region, from 2013 to 2018.
- The effect of external market forces (such as insurance, regulatory and economic issues) and increased incidence of disease.
Sources for this report include information provided by company representatives, company websites and product literature, financial analyst reports, industry association members, and industry sources.
The primary data collection methodology for this report focuses on information provided by industry personnel, through: Web-based sources or interviews; government agencies; industry observers; and industry professional organizations. In addition to these primary data sources, secondary data research techniques include literature searches of medical, government and business sources.
All data collected were analyzed by BCC personnel to determine specific findings and to make forecasts. Growth forecasts are made in constant 2012 dollars based on the U.S. manufacturers’ (wholesale) price levels, unless otherwise noted.
Peggy S. Lehr is the BCC research analyst of this report. Ms. Lehr holds a BS in Journalism from the University of Colorado, Boulder, and an MS in Communication from the University of Denver. Ms Lehr has been involved with the medical/nursing industry for more than 25 years, and she has worked within the publishing industry for both for-profit and not-for-profit organizations. Recent reports for BCC include eight health-care reports and her latest report, HLC007H—Rapid Medical Diagnostic Kits: The Global Market.
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The information developed in this report is intended to be as reliable as possible at the time of publication and is of a professional nature. This information does not constitute managerial, legal or accounting advice, nor should it be considered as a corporate policy guide, laboratory manual or an endorsement of any product, as much of the information is speculative in nature. The author assumes no responsibility for any loss or damage that might result from reliance on the reported information or from its use.
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