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:
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.
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.
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