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Global MRI Systems Market 2017-2021

About MRI Systems

Magnetic resonance imaging (MRI) is an imaging technique that creates detailed images of the organs and tissues in the body with the help of a magnetic field and radio waves. The technique does not use ionizing radiation either for the diagnosis or the study of brain function or growth of cancer. MRI is used for a variety of clinical applications such as neurology, cardiology, oncology, musculoskeletal, and orthopedics. Hence, MRI helps in the diagnosis and treatment of several conditions.

Technavio’s analysts forecast the global MRI systems market to grow at a CAGR of 6.65% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global MRI systems market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of MRI systems.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global MRI Systems Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • GE Healthcare
  • Philips Healthcare
  • Siemens Healthineers
  • Toshiba Medical Systems
Other prominent vendors
  • Advanced Imaging Research
  • Biophan Technologies
  • Bruker
  • Esaote
  • Fonar
  • Hitachi Medical Systems
  • Mindray
  • Neusoft
  • Ningbo Jansen NMR Technology
Market driver
  • Development of superconducting (SC) magnets
  • For a full, detailed list, view our report
Market challenge
  • Competition from other imaging modalities
  • For a full, detailed list, view our report
Market trend
  • Growing focus on development of PET/MRI hybrid imaging systems
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global MRI Systems Market 2017-2021

Technavio recognizes the following companies as the key players in the global MRI systems market: GE Healthcare, Philips Healthcare, Siemens Healthineers, and Toshiba Medical Systems

Other Prominent Vendors in the market are: Advanced Imaging Research, Biophan Technologies, Bruker, Esaote, Fonar, Hitachi Medical Systems, Mindray, Neusoft, and Ningbo Jansen NMR Technology

Commenting on the report, an analyst from Technavio’s team said: “The global MRI systems market has been witnessing a trend of strategic initiatives. The market is highly competitive and to survive this competition, vendors are adopting strategic collaborations and mergers and acquisitions (M&A). Leading vendors in the market acquire other complementary players to improve their geographical presence and enhance their expertise. With the growing demand for medical imaging equipment such as MRI, CT Scanners, X-rays systems, SPECT/PET equipment, and ultrasound systems, vendors are looking to implement inorganic growth strategies such as mergers and acquisitions. These strategies allow vendors to quickly penetrate the market by leveraging the products of the acquired player. Also, this will enable companies to capitalize on the existing market presence of the acquired player.”

According to the report, MRI systems have become the most preferred diagnostic imaging method to scan the various areas of the brain for detecting conditions such as brain tumors, spine lesions, anomalies of blood vessels, and stroke affected areas of the brain. Vendors are focusing on the advances in technology of MRI systems to improve the field strength to provide a better signal, improve the quality of the image, and improve the output. For instance, a 3-tesla unit is twice as good as a 1.5 tesla unit, with respect to image quality and scan timing, and it obviates the need for a second system. For instance, Ningbo Jansen NMR Technology is the manufacturer of open MRI units with SC magnets. There are different types of MRI systems available with SC magnets such as 0.5T and 0.7T by the vendor. Companies such as Supercon manufacture superconducting coils for MRI units with SC magnets. There are other advancements in the field of medical imaging such as the use of superconducting magnets for MRI systems. The recent technology of superconducting and cryogenic can be combined, which can help in meeting the growing demand for high-field strength MRI systems. The development of superconducting magnets helps in increasing the magnetic field strength of MRI systems. These are widely used in different science research, health, industrial, and energy applications. The future of MRI systems is the use of superconducting magnets in the development of strong magnetic field MRI systems.

Further, the report states that clinics and diagnostic centers with low budgets are buying used and refurbished MRI systems. The sales of refurbished MRI systems are hampering the sales of new MRI systems. Many local vendors are exporting and importing used and refurbished MRI systems. Also, used and refurbished MRI systems are usually available at half the price of new ones, and the vendors also provide a warranty period of a couple of years. In addition, customers have low awareness about the availability of low cost refurbished systems. Also, customers trust local companies to provide better after-sales support, which compels the large vendors to scale down the prices of their MRI systems. There are developing countries such as India and China where refurbished systems sales are higher than the sales of new MRI systems.

Companies Mentioned

GE Healthcare, Philips Healthcare, Siemens Healthineers, Toshiba Medical Systems, Advanced Imaging Research, Biophan Technologies, Bruker, Esaote, Fonar, Hitachi Medical Systems, Mindray, Neusoft, Ningbo Jansen NMR Technology.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Key market highlights
  • Market landscape
    • Market overview
      • Table Global MRI systems market: Market overview 2016-2021
    • Market size and forecast
      • Table Global MRI systems market 2017-2021 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by product type
    • Table Market segmentation of MRI systems by product type 2016
    • Open MRI
      • Table Global open MRI systems: Market overview
      • Table Global open MRI systems market 2017-2021 ($ billions)
      • Table Factors impacting market growth of open MRI systems
      • Table Product offerings: Open MRI systems
    • Closed MRI
      • Table Global closed MRI systems: Market overview
      • Table Global closed MRI systems market 2017-2021 ($ billions)
      • Table Factors impacting market growth of closed MRI systems
      • Table Product offerings: Closed MRI systems
  • Market segmentation by MRI strength
    • Table Global market segmentation by MRI strength 2016
    • Low-field strength MRI systems
      • Table Product offerings: Low-field strength MRI systems
      • Table Global low-field strength MRI systems: Market impact and assessment 2016
      • Table Global low-field strength MRI systems market 2017-2021 ($ billions)
    • Mid-field strength MRI systems
      • Table Product offerings: Mid-field strength MRI systems
      • Table Global mid-field strength MRI systems: Market impact and assessment 2016
      • Table Global mid-field strength MRI systems market 2017-2021 ($ billions)
    • High-field strength MRI systems
      • Table Product offerings: High-field strength MRI systems
      • Table Global high-field strength MRI systems: Market impact and assessment 2016
      • Table Global high-field strength MRI systems market 2017-2021 ($ billions)
  • Market segmentation by application
    • Table Global MRI systems market, by application 2016 (%)
    • Brain and neurological disorders
      • Table Statistics for epilepsy in the leading countries
      • Table Statistics for cerebral palsy in the leading countries
      • Table Global MRI systems market for brain and neurological disorders: Market overview
      • Table Global MRI systems market for brain and neurological disorders 2016-2021 ($ billions)
    • Whole-body screening
      • Table Global MRI systems market for whole-body screening: Market overview
      • Table Global MRI systems market for whole-body screening 2016-2021 ($ billions)
    • Cardiac imaging
      • Table Global MRI systems market for cardiac imaging: Market overview
      • Table Global MRI systems market for cardiac imaging 2016-2021 ($ billions)
    • Interventional radiology
      • Table Global MRI systems market for interventional radiology: Market overview
      • Table Global MRI systems market for interventional radiology 2016-2021 ($ billions)
    • Breast imaging
      • Table Global MRI systems market for breast imaging: Market overview
      • Table Global MRI systems market for breast imaging 2016-2021 ($ billions)
    • Other applications
      • Table Global MRI systems market for other applications: Market overview
      • Table Global MRI systems market for other applications 2016-2021 ($ billions)
  • Market segmentation by end-user
    • Table Global MRI systems market by end-user 2016 (%)
    • Hospitals
    • Diagnostic centers and clinics
  • Geographical segmentation
    • Table Global MRI systems by geographical segmentation 2016 (%)
    • MRI systems in Americas
      • Table MRI systems in the Americas: Market overview
      • Table MRI systems market in Americas 2016-2021 ($ billions)
      • Table MRI systems market in Americas: Analysis by country
    • MRI systems in EMEA
      • Table MRI systems in EMEA: Market overview
      • Table MRI systems market in EMEA 2016-2021 ($ billions)
      • Table Number of MRI units in various countries (2013)
      • Table MRI systems market in EMEA: Analysis by country
    • MRI systems in APAC
      • Table MRI systems in APAC: Market overview
      • Table MRI systems market in APAC 2016-2021 ($ billions)
      • Table MRI systems market in APAC: Analysis by country
  • Market drivers
    • Development of superconducting (SC) magnets
    • Advent of MRI-compatible pacemakers
    • Emergence of hybrid imaging technologies
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Growing demand for refurbished devices
    • High cost of MRI scans
    • Competition from other imaging modalities
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Strategic initiatives
      • Table Acquisitions in MRI market
    • Growing focus on development of PET/MRI hybrid imaging systems
    • Growing importance of tele-imaging
  • Vendor landscape
    • Competitive landscape analysis
      • Table Competitive structure analysis of global MRI systems market 2016
      • Table Competitive landscape analysis of global MRI systems market 2016
      • Table Strategic factors determining success for leading companies in global MRI systems market
  • Key vendor analysis
    • GE Healthcare
      • Table GE Healthcare: Strength assessment
      • Table GE Healthcare: Strategy assessment
      • Table GE Healthcare: Opportunity assessment
    • Philips Healthcare
      • Table Philips Healthcare: Strength assessment
      • Table Philips Healthcare: Strategy assessment
      • Table Philips Healthcare: Opportunity assessment
    • Siemens Healthineers
      • Table Siemens Healthineers: Strength assessment
      • Table Siemens Healthineers: Strategy assessment
      • Table Siemens Healthineers: Opportunity assessment
    • Toshiba Medical Systems
      • Table Toshiba Medical Systems: Strength assessment
      • Table Toshiba Medical Systems: Strategy assessment
      • Table Toshiba Medical Systems: Opportunity assessment
    • Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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