Medical Magnetic Resonance Imaging (MRI): Technologies and Global Markets

May 2024| HLC078F| BCC Publishing

Report Highlights

The global market for medical magnetic resonance imaging (MRI) is expected to grow from $7.2 billion in 2023 and projected to reach $9.8 billion by the end of 2028, at a compound annual growth rate (CAGR) of 6.4% during the forecast period of 2023 to 2028.

Report Includes

  • 43 data tables and 36 additional tables
  • Analysis of the global markets for medical MRI systems
  • Analysis of the market trends, with historical revenue data (sales figures) for 2020-2022, estimates for 2023, and projected CAGRs through 2028
  • Estimates of the current market size and revenue growth prospects, along with a market share analysis by build architecture, magnetic field strength, application area, end user and region.
  • Facts and figures pertaining to the market drivers, opportunities and restraints, regulatory issues and macroeconomic variables
  • Highlights of emerging MRI technologies
  • Market analysis using the Porter’s Five Forces model, and a value- and supply-chain analysis based on micro- and macro-environmental market factors
  • Discussion of sustainability trends, with an emphasis on consumer attitudes, companies’ ESG rankings and practices.
  • An analysis of recent patent grants and patents published
  • An analysis of the industry structure, including company market shares, business segments, financials, product portfolios, recent M&A activity and a venture funding outlook
  • Profiles of the major players

Report Scope

This report provides information on the medical MRI market regarding science, revenues, technology innovations, key manufacturers and the competitive landscape.

Frequently Asked Questions (FAQs)

The Magnetic Resonance Imaging (MRI) market was valued at $6.8 billion in 2022 and will reach $9.8 billion by 2028. The market is expected to witness a CAGR of 6.4% from 2023 to 2028.
Key factors which are driving the growth are increasing demand for advanced imaging technologies, increasing geriatric population across the globe, increasing prevalence of chronic diseases, rising healthcare spending.
The global MRI market is segmented based on architecture, field strength, application, end-user, and region.
Closed MRI segment will dominate the market in 2028.
North America holds the highest share of the market.

Analyst Credentials

BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.

Report Synopsis

Report Metrics Details
Base year considered 2022
Forecast period considered 2023-2028
Base year market size $6.8 billion
Market size forecast $9.8 billion
Growth rate CAGR of 6.4% for the forecast period of 2023-2028
Units considered $ Millions
Segments covered Architecture, Field Strength, Application, End User, and Region
Regions covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Countries covered U.S., Canada, Germany, the U.K., France, Italy, Spain, China, India, Japan, Australia, South Korea, the Middle East and Africa, and South America
Key Market Drivers
  • Increasing demand for advanced imaging technologies.
  • Rising global geriatric population.
  • Growing prevalence of chronic diseases.
  • Increased healthcare spending.
Companies studied
  • ALLTECH MEDICAL SYSTEMS LLC
  • AURORA HEALTHCARE U.S. CORP.
  • CANON MEDICAL SYSTEMS CORP.
  • ESAOTE SPA
  • FONAR CORP.
  • FUJIFILM HOLDINGS CORP.
  • GE HEALTHCARE
  • KONINKLIJKE PHILIPS N.V.
  • MEDONICA CO. LTD.
  • SHENZHEN ANKE HIGH-TECH CO. LTD.
  • SIEMENS HEALTHINEERS AG
  • TIME MEDICAL HOLDING

Table of Contents

All reports provided in PDF format. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at info@bccresearch.com
Title/Chapter NamePagesMember Price
Full Report: Medical Magnetic Resonance Imaging (MRI): Technologies and Global Markets98Free
Chapter- 1: Executive Summary4Free
Chapter- 2: Market Overview6Free
Chapter- 3: Market Dynamics9Free
Chapter- 4: Market Segmentation Analysis35Free
Chapter- 5: Emerging Technologies and Development2Free
Chapter- 6: Competitive Intelligence7Free
Chapter- 7: Sustainability in the MRI Industry: An ESG Perspective4Free
Chapter- 8: Appendix31Free
Published - Jan-2021| Analyst - BCC Publishing| Code - HLC078E

Report Highlights

The global market for MRI systems should grow from $6.2 billion in 2020 to $7.8 billion by 2025 with a compound annual growth rate (CAGR) of 4.8% for the period of 2020-2025.

Report Includes

  • 49 tabels
  • Detailed overview of the global markets and technologies for medical magnetic resonance imaging (MRI)
  • Country specific data and analysis for United States, Canada, Mexico, Germany, U.K., France, China, India, Japan, South Korea, Middle East and Africa
  • Analyses of global market trends, with data from 2019, estimates for 2020, and projections of compound annual growth rates (CAGRs) through 2025
  • Segmentation of the global MRI systems market by geographical region, end user, type, field strength and application areas
  • Information on market dynamics such as drivers, restraints, opportunities, technological advancements and identification of growth inhibiting areas that affect the global market
  • Evaluation of current market trends, market size, market forecast, and technological advancements within the industry
  • Coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies
  • Assessment of vendor landscape and corporate-level profiles of key companies operating for MRI devices market, including Siemens Healthcare GMBH, Alltech Medical Systems, Philips Healthcare, Hitachi Medical Corp., and GE Healthcare
Published - Jul-2018| Analyst - BCC Publishing| Code - HLC078D

Report Highlights

The global MRI systems market should reach $7.3 billion by 2023 from $5.6 billion in 2018 at a compound annual growth rate (CAGR) of 5.7% from 2018 to 2023.

Report Includes

  • 45 data tables
  • Detailed overview of the global markets and technologies for medical magnetic resonance imaging (MRI)
  • Country specific data and analysis for United States, Canada, Mexico, Germany, U.K., France, China, India, Japan, South Korea, Middle East and Africa
  • Analyses of global market trends, with data from 2017, estimates for 2018, and projections of compound annual growth rates (CAGRs) through 2023
  • Insight into a detailed market scope for the MRI machines at a global level and various countries
  • Segmentation of the global MRI systems market by geographical region, end user, type, field strength and application areas
  • Information on market dynamics such as drivers, restraints, opportunities, technological advancements and identification of growth inhibiting areas that affect the global market
  • Assessment of vendor landscape and corporate-level profiles of key companies operating in the United States and other key countries for MRI devices market, including Alltech Medical Systems, Aurora Imaging Technology Inc., Canon Medical Systems Corp., Esaote SPA, Fonar Corp., GE Healthcare, Hitachi Medical Corp., Philips Healthcare, and Siemens Healthcare
Published - Sep-2016| Analyst - Himani Singhi Wadhwa| Code - HLC078C

Report Highlights

The global market for MRI systems reached $5.8 billion in 2015. The market should reach nearly $6.1 billion and $8.0 billion in 2016 and 2021 respectively, growing at a compound annual growth rate (CAGR) of 5.7% from 2016 to 2021.

Report Includes

  • An overview of the global markets and technologies for medical magnetic resonance imaging (MRI).
  • Analyses of market trends, with data from 2015, 2016, and projections of compound annual growth rates (CAGRs) through 2021.
  • Descriptions of the trends and developments for each type of MRI technology and how each is meant to satisfy the needs of customers.
  • Identification of highly competitive MRI industries and their position in the overall imaging market.
  • A look at macro trends that benefit the MRI market, which 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.
  • Examination of the MRI business in terms of specific companies and their position in the market.
  • Profiles of major players in the industy.

Published - Sep-2013| Analyst - Peggy Lehr| Code - HLC078B

Report Highlights

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.

Report Includes

  • 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.

Published - Aug-2010| Analyst - Peggy Lehr| Code - HLC078A

Report Highlights

  • In the U.S., recent reimbursement changes and the economic downturn have called the expanding use of MRI scanning into question. The North American market is worth $2.3 billion in 2010 and is expected to increase at a 4.4% compound annual growth rate (CAGR) to reach $2.9 billion in 2015.
  • Europe ranks with the U.S. as one of the most developed MRI markets. Expanding applications in the neurologic, cardiac, and breast MRI areas should drive the EU market. This sector is estimated at $1.2 billion in 2010 and is expected to increase at a 10% compound annual growth rate (CAGR) to reach $1.9 billion in 2015.
  • Japan remains an early adopter of newer MRI equipment, making it a prime opportunity for newer 3T equipment. This market is valued at $1 billion in 2010 and should reach $1.3 billion in 2015, a compound annual growth rate (CAGR) of 4.3%.
Medical Magnetic Resonance Imaging (MRI): Technologies and Global Markets

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