MRI Systems Market by Region – Global Opportunities & Forecast, 2020-2027

MRI Systems Market

The MRI Systems Market is likely to elevate at a rate of 3.81% over the forecast period. This is because of the augmenting adoption of MRI systems in hospitals, diagnostic systems, and clinics. The accelerating ageing population will further propel the market growth.

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MRI Systems Market Dynamics

The increasing incidences of chronic and non-chronic diseases is the driving force of the MRI Systems market. For example, according to the National Cancer Institute, over 1,735,350, new cancer cases are expected to be diagnosed each year from 2018. Also, the CDC published that more than 79,000 U.S. population suffered from strokes, which has strengthened the market growth. MRI generates pictures of soft tissue parts of the body that sometimes is hard to see with other imaging tests. Further, the growing consciousness about early diagnosis has proliferated the MRI systems market size. WHO, in 2017, introduced the guide for early cancer diagnosis, which has stimulated the market demand.

Moreover, the ongoing technological innovation in the MRI systems have resulted in superior imaging quality with a higher spatial resolution and faster image timing has bolstered the market size. For example, latest technology introduced by the leading market players such as Philips and GE Healthcare will support the market development. For instance, GE Healthcare, in 2019, introduced New imaging tech and intelligent apps called AIR Recon DL, Critical Care Suite which assists in MRI reconstruction, thereby proffering huge opportunity for the market. However, as per the MRI systems market analysis, excessive cost of the imaging equipment might restrain the market growth.

Application Segment Drivers

On the basis of application, the breast cancer segment is likely to expand at a significant share over the forecast period. This is because of the accelerating burden of cancer which has helped the segment in maintaining supremacy in the market. As per the report published by WHO over 9.6 million people passed away from cancer in 2018 and the NCBI stated that more than 15% of all new cancer deaths occurred from breast cancer, which has raised the market growth.

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