Middle East Open System MRI Market - Growth, Trends and Forecast (2015 - 2020)
The Middle Eastern MRI systems market is expected to grow at a CAGR of 8.2% to reach $121.8 million by 2020. MRI is a powerful diagnostic tool which is replacing CT because of its higher sensitivity and use of non-ionizing radiations. Open MRI is the more popular one between the two available systems of MRI, open and closed. Open MRI systems have a magnetic field in the top and bottom and do not enclose the patient in a tunnel. This prevents the patients becoming Claustrophobic. There is a study which shows that one in every 6 patients suffers from claustrophobia hence the open system is preferred and is fast replacing the closed system.
The limited manufacturing capacity of these countries increases the demand in the market. Most Middle Eastern country economies rely on Oil & Petroleum making them some of the richest in the world. The average per capita income in these countries is high making healthcare facilities more affordable. The awareness of healthcare and early diagnosis has increased; there is also a rise in the aging population and incidence of diseases and cancers. These factors are drivers of the Open System MRI market in the Middle East. The equipment market can be segmented based on the resolution (low-field, mid-field and high field), the applications (Neurology, Cardiology, Gastroenterology and Oncology) and regionally (GCC). The key players in the industry are GE, Hitachi Medical Corporation, Philips Healthcare, Siemens Healthcare and Toshiba Medical Systems.
Drivers: Advancement in technology and healthcare facilities has made this technology popular. It is not only safe but also preferred by all patients as it does not make them claustrophobic. It is more sensitive than CT. The growing aging population and higher incidence of diseases are drivers of this market.
Constraints: The increasing number of accidents recorded in patients with implants such as pacemakers and cochlear implants. The technology also requires skilled professionals for performing the diagnosis and analyzing the results.
What the report offers?
1) Market Definition for the specified topic along with identification of key drivers and restraints for the market.
2) Market analysis for the North American Open System MRI Market in Healthcare Industry, with region specific assessments and competition analysis on a North American scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a Middle Eastern and regional scale. 4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5)Identification and analysis of the Macro and Micro factors that affect the Middle Eastern Open System MRI Market in Healthcare Industry on both North American and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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