Open System MRI Market Size, Analysis, Share & Forecast 2031

Report Description

The global open system MRI market size is projected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising demand for advanced healthcare facilities and improving healthcare infrastructure.
The open system MRI is a medical imaging technique that used in radiology to form pictures of the anatomy and physiological processes of the body. Open system MRI scanners use strong magnetic fields, magnetic field gradients, and radio waves to generate images of the internal organs in the body. It does not involve the use of X-rays or ionizing radiation. Therefore, the MRI system distinguishes from CT and PET scans. The MRI system is a medical application of nuclear magnetic resonance, which is used for imaging applications, such as NMR spectroscopy. MRI systems are widely used in hospitals and clinics for medical diagnosis and staging of diseases. MRI system is capable of providing better contrast in images of soft-tissues. However, the open system MRI is perceived as less comfortable by some patients owing to the usually longer and louder measurements. Moreover, the medical implant and other non-removable metal in the body can pose a risk and exclude some patients from undergoing an MRI examination safely. In case of clinical and research MRI, hydrogen atoms are most often used to generate a macroscopic polarization for the subject being examined. The hydrogen atoms are naturally abundant in humans and other biological organisms. Therefore, most MRI scans essentially map the location of water and fat in the body. The pulses of radio waves excite the nuclear spin energy transition. The magnetic field gradients localize the polarization in space. The different contrasts are generated between tissues owing to varying the parameters of the pulse sequence. Functional MRI and Diffusion MRI extend the utility of MRI system to capture blood flow and neuronal tracts respectively. The dramatic increase in demand for MRI systems in healthcare has led to decrease in cost effectiveness and over diagnosis.

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The COVID-19 pandemic has affected almost every industry including the healthcare industry. The outbreak situation resulted into nationwide lockdowns and implication of stringent regulatory policies globally. Therefore, the outbreak of coronavirus disease disrupted the supply of healthcare facilities, transportation activities, and manufacturing of medical devices. The stringent regulations and slowdown in economy hampered the growth of the open system MRI market.

Market Trends, Drivers, Restraints, and Opportunities

• Rising awareness about the benefits of early diagnosis are anticipated to fuel the growth of the market in the coming years.
• Growing technological advancements leading to the replacement of low-field MRI systems with high-field MRI systems is expected to spur the market growth during the forecast period.
• Increasing geriatric population and growing investments in MRI development projects are propelling the market expansion in the projected timeline.
• High cost associated with MRI systems and declining reimbursement rates for MRI procedures are the major challenges anticipated to hamper the market growth in the coming years.
• Increasing industrial investments for technological advancement and increasing government initiatives for disease diagnosis are expected to offer immense opportunities for the market players in the long run.

Scope of the Report

The report on the global public safety market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Open System MRI Market Segment Insights

High-field Scanner segment is anticipated to register at a substantial CAGR

Based on resolutions, the market is segmented into low- field scanner, mid-field scanner, and high-field scanner. The high-field scanner segment is anticipated to register at a substantial CAGR during the projected period owing to the growing demand for effective therapeutic methods and rising prevalence of cancer. Moreover, the rising demand for high resolution imaging for detection of brain tumor is anticipated to grow of the market segment in the coming years. On the other hand, the mid-field scanner segment is expected to register at a rapid pace during the forecast period owing to the increasing prevalence of common health disorders among the middle-age population, rising healthcare expenditures, and growing demand for early diagnosis of the diseases.

Neurology segment is projected to hold a significant market share

On the basis of applications, the market is segregated into cardiology, neurology, gastroenterology, oncology, and others. The neurology segment is projected to hold a significant market share during the forecast period due to rising demand for diagnostic imaging and neuroscience research. Moreover, increasing consumption for detecting the neurological diseases and performing the monitoring of degenerative disorders are anticipated to fuel the market segment in the coming years. However, the gastroenterology segment is anticipated to expand at a considerable pace owing to increasing demand from aging population and rising incidences of gastric attacks.

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North America market is anticipated to dominate the market

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in the North America is anticipated to expand at a significant CAGR during the forecast period owing to the well-established healthcare system in the region. Moreover, the region is expected to continue its dominance in the market due to increasing number of initiatives that are being carried out by the various organizations to reduce the prevalence of health disorders. Furthermore, the government support to promote the disease diagnosis is projected to grow the market in the coming years. On the other hand, the market in Asia Pacific is expected to grow at a significant rate during the forecast period due to the increasing demand for advanced healthcare facilities and rising standardization of hospitals in the region. Furthermore, the increasing disposable incomes and rising demand for high-field MRI equipments are expected to fuel the regional market growth during the forecast period.

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