Magnetic Resonance Imaging (MRI) Market, By Type (Open and Closed), By Field Strength (Low Field Strength, Mid Field Strength, and High Field Strength), By Application (Oncology, Neurology, Cardiology, Gastroenterology, Musculoskeletal, and Others), By End User (Hospitals, Imaging Centers, Ambulatory Surgical Centers, and Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)

Published In : Dec 2023

Code : CMI443

Pages :165

Formats :

Excel and PDF

Industry : Medical Devices

Market Challenges And Opportunities

Global Magnetic Resonance Imaging (MRI) Systems Market Drivers:

Increasing product launches: Increasing product launches across the globe is one of the major factors driving the growth of the global magnetic resonance imaging (MRI) systems market.
Increasing number of diagnostic imaging centers: Increasing number of diagnostic imaging centers around the world is fueling the growth of the global magnetic resonance imaging (MRI) systems market. As more healthcare facilities invest in advanced medical imaging equipment to provide quality care to patients, the demand for MRI systems has risen dramatically in the forecast period.
Rising prevalence of chronic diseases: Chronic diseases and conditions such as cardiovascular diseases, cancer, diabetes, and others have been on a rise in the past few decades due to changes in lifestyle and environmental factors.

Global Magnetic Resonance Imaging (MRI) Systems Market Opportunities:

Increasing technological advancement: Technological advancement has created tremendous opportunities for growth in the global magnetic resonance imaging (MRI) systems market.
Development of advanced MRI coils and software: Development of new receiver coil designs that can achieve higher signal-to-noise ratios and accelerate scan speeds has the ability to vastly improve MRI resolution and imaging capabilities.
Increasing use of MRI in neuroscience research: As neuroscience research delves deeper into understanding various neurological conditions and the human brain, the reliance on MRI as a key investigative and diagnostic tool has increased substantially.

Global Magnetic Resonance Imaging (MRI) Systems Market Restraints:

High cost of MRI systems: The exorbitant cost of MRI systems poses a significant challenge for the widespread adoption of MRI technology.
Strict regulatory approval process: Regulatory agencies across most countries have implemented rigorous guidelines and standards for approving new MRI systems and upgrades to the existing systems before they can be commercially launched.
Mixed results with MRI screening: Supplementing mammography with magnetic resonance imaging (MRI) for patients with dense breast tissue, reduced the rate of interval cancers by half, but with a regarding rate of recall for additional imaging or interventions.