New York, NY -- (SBWire) -- 04/26/2019 --The increasing prevalence of chronic diseases and surging geriatric population are boosting the growth of the market. Furthermore, technological advancements in MRI systems, rising awareness about the early diagnosis of diseases, and increasing government support for the imaging method are also augmenting the domain progress.
MRI, short for magnetic resonance imaging, is a kind of medical imaging technique that aids in the diagnosis and assessment of a medical condition, such as bone disorders, hematological disorders, brain and head injuries, and several types of cancers. It uses radio waves, strong magnets, and a computer to show detailed pictures of a patient's internal anatomy, such as organs, bones, glands, nerves, and blood vessels.
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The MRI systems market has been segmented by architecture, field strength, type, application, geography, and end users. Based on architecture, the market is divided into open and closed systems, of which the closed MRI system category held revenue share of 79.9% in 2017. Closed MRI systems, as compared to open MRI variants, deliver more accurate and high-resolution scans, which is why this category is predicted to lead the market during the forecast period as well.
MRI systems are used for the diagnosis, prognosis, and treatment of brain and head, and neck, spine, musculoskeletal, pelvic and abdomen, breast, vascular, cardiac, and other anatomical parts. Due to the increasing incidents of traumatic brain and neck injuries around the globe, the MRI systems market is projected to witness the fastest growth during the forecast period in the head, brain and neck category, which is expected to register a CAGR of 5.7%.
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MRI systems market players are developing multi-contrast MRI scanners that help in detecting anomalies in different body parts at once. In September 2016, GE Healthcare received the USFDA approval for its MAGiC (MAGnetic resonance image Compilation) scanners, which give multiple image contrasts in a single scan. Discovery MR750, Discovery MR750w, Optima MR450, Optima MR450w, and SIGNA Pioneer are the MAGiC MRI scanners developed in collaboration with SyntheticMR AB. Similarly, in October 2017, the USFDA cleared Siemens AG's 7 T Magnetom Terra MRI system, designed for the arms, legs (extremities), and head of patients weighing over 66 pounds.
Thus, with advancements in technology, the quality of the MRI systems is increasing, which, in turn, is leading the market forward.
