MRI Market share, and statistics Analysis Report 2024 | Research Cosmos
MRI Market Outline Report:
The Magnetic Resonance Imaging (MRI) has gained increasing popularity over the years as it is used for diagnostic imaging of ailments related to Neurology, Spine, Head and Neck, Cardiovascular, Abdominal and Prostrate. The remarkable sensitivity and specificity of this imaging modality has helped in making it a popular choice for the diagnosis of various neurological diseases worldwide.
For example, the arrival of multinuclear spectroscopy to analyse various neurological disorders using a high-quality MRI scanner has increased in recent years. In the absence of known biological risk, these modalities help in the detection of the diseases which are manifested by an imbalance of the water content of the bodies. The use of better contrast agents for imaging in outpatient surgery centres and diagnostic imaging centres enable advanced imaging at high resolution, thereby highlighting the market. Different types of MRI’s can be classified into less than 0.5T MRI, 1.5T MRI, and 3T MRI. 1.5T MRI can be termed as the major segment as it holds around a share of 47%.
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MRI Market Drivers and Restraints:
Healthcare expenditure has been on a rise in the Asia-Pacific reason over the past few years. It has enabled the physicians to diagnose a wide range of diseases through MRI and particularly for cancer related examination. Certain factors such as increase in cancer ailments, neurological and orthopaedic conditions among the population has contributed to increase in the use of MRI and growth in their sales. Availability of Universal Health Coverage among some countries in North America and Europe has helped in boosting the sales of MRI machines. The high cost of setting up MRI machines has acted as a barrier to higher growth in their sales. Certain MRI machines can be used in diagnosing only certain parts, which acts as a restraint.
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MRI Market Geographical Segmentation:
On the basis of Geography, North America dominates the MRI market because of the technological advancement of the region. The demand is expected to rise in the coming years because of the increase in health consciousness among the people of the USA and Canada. The Asia-Pacific is going to contribute to increase in sales of MRI machines. The Middle East and Africa are also expected to witness higher CAGR with the rapid growth of health coverage.
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MRI Market Key Players:
Fonar Corporation, GE Healthcare, Hitachi Medical Systems, Phillips Healthcare, Canon Medical Systems Ltd, Aurora Imaging Technology, and Siemens Healthineers are the major players of the MRI market.
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