Open System MRI Market cover

Open System MRI Market by Resolutions (Low-field Scanner, Mid-field Scanner, and High-field Scanner), Applications (Cardiology, Neurology, Gastroenterology, Oncology, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: HC-3530
  • Author: Growth Market Reports
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  • No. Of Pages: 193
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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.

Open System MRI Market summary

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.

Attributes

Details

Report Title

Open System MRI Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Resolutions (Low-field Scanner, Mid-field Scanner, and High-field Scanner), Applications (Cardiology, Neurology, Gastroenterology, Oncology, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Philips Healthcare; GE Healthcare; Hitachi Medical Corporation; ESAOTE SA; and Siemens Healthcare

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.

Open System MRI Market application

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.

Open System MRI Market region

Segments

Segment Covered in the report

The global open system MRI market has been segmented on the basis of

Resolutions

  • Low-field Scanner
  • Mid-field Scanner
  • High-field Scanner

Applications

  • Cardiology
  • Neurology
  • Gastroenterology
  • Oncology
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Philips Healthcare
  • GE Healthcare
  • Hitachi Medical Corporation
  • ESAOTE SA
  • Siemens Healthcare

Competitive Landscape

Key players competing in the global open system MRI market are Philips Healthcare; GE Healthcare; Hitachi Medical Corporation; ESAOTE SA; and Siemens Healthcare. The companies are focusing on business strategies, long-term agreements, and collaboration with other industry players to expand their market share.

Open System MRI Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. open system MRI Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. open system MRI Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. open system MRI Market - Supply Chain
  4.5. Global open system MRI Market Forecast
     4.5.1. open system MRI Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. open system MRI Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. open system MRI Market Absolute $ Opportunity
5. Global open system MRI Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. open system MRI Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global open system MRI Demand Share Forecast, 2019-2026
6. North America open system MRI Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America open system MRI Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America open system MRI Demand Share Forecast, 2019-2026
7. Latin America open system MRI Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America open system MRI Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America open system MRI Demand Share Forecast, 2019-2026
8. Europe open system MRI Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe open system MRI Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe open system MRI Demand Share Forecast, 2019-2026
9. Asia Pacific open system MRI Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific open system MRI Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific open system MRI Demand Share Forecast, 2019-2026
10. Middle East & Africa open system MRI Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa open system MRI Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa open system MRI Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global open system MRI Market: Market Share Analysis
  11.2. open system MRI Distributors and Customers
  11.3. open system MRI Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Philips Healthcare
     11.4.2. GE Healthcare
     11.4.3. Hitachi Medical Corporation
     11.4.4. ESAOTE SA
     11.4.5. Siemens Healthcare

Segment Covered in the report

The global open system MRI market has been segmented on the basis of

Resolutions

  • Low-field Scanner
  • Mid-field Scanner
  • High-field Scanner

Applications

  • Cardiology
  • Neurology
  • Gastroenterology
  • Oncology
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Philips Healthcare
  • GE Healthcare
  • Hitachi Medical Corporation
  • ESAOTE SA
  • Siemens Healthcare

Key players competing in the global open system MRI market are Philips Healthcare; GE Healthcare; Hitachi Medical Corporation; ESAOTE SA; and Siemens Healthcare. The companies are focusing on business strategies, long-term agreements, and collaboration with other industry players to expand their market share.

Open System MRI Market keyplayers

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