Closed MRI Systems Market in North America is Projected to Grow at a CAGR of 4.8%

Date: 2015-08-12

“The purpose of this report is to cover the definition, description, and forecast of the global MRI system market. It involves deep dive analysis of market segmentation that encompasses field strength, application, and geography. This report also offers strategic insights of key players thriving in this market. The global closed MRI systems market by field strength is segmented into low-to-mid field MRI, high field MRI, very high field MRI, and ultra-high field MRI. Major applications of this market include spine & musculoskeletal MRI, brain & neurological MRI, vascular MRI, pelvic & abdominal MRI, breast MRI, and cardiac MRI. 

Globally, the closed MRI systems market in North America is projected to grow at a CAGR of 4.8% from 2014 to 2019. This growth is mainly attributed to rise in aging population and growing awareness among people about the benefits associated with MRI scanning. Presently, MRI is the most commonly used non-invasive imaging modality for early diagnosis and screening of various diseases, such as multiple sclerosis (MS), dementia, breast cancer, prostate cancer, spinal tuberculosis, and Alzheimer. This will further improve the overall demand for closed MRI systems all around the world. 

Furthermore, advancements in MRI techniques include superconducting (SC) magnets, open architecture, high-field MRI, and software applications. The advent of MRI-compatible pacemakers will significantly increase the number of patients eligible for MRI procedures. However, high cost of MRI systems, reduction in the availability of helium that could force hospitals to replace costly MRI magnets, and declining reimbursement rates for MRI procedures are factors restraining the growth of the closed MRI system market. 

The report also provides competitive landscaping of companies operating in this market. Segment and country-specific company shares, news & deals, mergers & acquisitions, segment specific pipeline products, product approvals, and product recalls of the major companies would also be detailed in this report. Key players of this market include GE Healthcare (U.K.), Philips Healthcare (The Netherlands), Siemens Healthcare (Germany), Toshiba Medical Systems (Japan), Hitachi Medical Corporation (Japan), Neusoft Medical System (China), and Aurora Medical Imaging (U.S.) among others. 

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