The Global Magnetic Resonance Imaging Devices Market to Surpass USD 11 Billion Mark by 2027, Assesses DelveInsight

As per DelveInsight analysis in the magnetic resonance imaging devices market, the rise in the cases of severe chronic diseases like cancers and cardiac abnormalities along with the rapid advancements in technology are likely to propel the global magnetic resonance imaging devices market.

New York, USA, March 28, 2023 (GLOBE NEWSWIRE) — The Global Magnetic Resonance Imaging Devices Market to Surpass USD 11 Billion Mark by 2027, Assesses DelveInsight

As per DelveInsight analysis in the magnetic resonance imaging devices market, the rise in the cases of severe chronic diseases like cancers and cardiac abnormalities along with the rapid advancements in technology are likely to propel the global magnetic resonance imaging devices market.

DelveInsight’s Magnetic Resonance Imaging Devices Market Insights report provides the current and forecast market analysis, individual leading magnetic resonance imaging devices companies’ market shares, challenges, magnetic resonance imaging devices market drivers, barriers, and trends, and key magnetic resonance imaging devices companies in the market.

Key Takeaways from the Magnetic Resonance Imaging Devices Market Report

  • As per DelveInsight estimates, North America is anticipated to dominate the global magnetic resonance imaging devices market during the forecast period. 
  • Notable magnetic resonance imaging devices companies such as General Electric Company, FUJIFILM Holdings Corporation, Siemens Healthcare GmbH, Koninklijke Philips N.V., Canon Medical Systems Corporation, ESAOTE SPA, Aspect Imaging Ltd., Bruker Corporation, Aurora Healthcare US Corp., FONAR Corp., Neusoft Medical Systems Co., Ltd., Shenzhen Anke High-Tech Co. Ltd., Shenzhen Basda Medical Apparatus Co. Ltd., Time Medical Holding, Hyperfine, Alltech Medical Systems, InnerVision MRI Ltd., Magnetica Limited, IMRIS, Deerfield Imaging, Inc., MR Solutions, and several others are currently operating in the magnetic resonance imaging devices market.
  • In October 2022, the Federal Executive Council meeting presided over by President Muhammadu Buhari approved a total of N592, 271, 792.48 for the procurement of magnetic resonance imaging (MRI) equipment for the Obafemi Awolowo University Teaching Hospital in Ile-Ife, South West Nigeria.
  • In July 2022, Viz.ai, a leading AI-powered disease detection and intelligent care coordination platform announced a partnership with Hyperfine, Inc., the creator of Swoop, the first FDA-cleared point-of-care magnetic resonance imaging (MRI) device.
  • In July 2022, the US Food and Drug Administration (FDA) approved Siemens Healthineers’ MAGNETOM Free.Max, a High-V magnetic resonance (MR) scanner.
  • On November 29, 2021, FUJIFILM Healthcare Americas Corporation announced the launch of its advanced, high-field open MRI system – Velocity MRI System during the 2021 Radiological Society of North America (RSNA) conference; the Velocity MRI system is designed to streamline workflow and enhance the patient experience with its unique open gantry, integrated radiofrequency (RF) coils and reconstruction technologies. The system’s anatomy-conformable Synergy Flex coil is the first of its kind for an open, vertical field MRI scanner, promoting fast abdominal and orthopedic imaging.
  • Thus, owing to such developments in the market, there will be rapid growth observed in the MRI market during the forecast period.

To read more about the latest highlights related to the magnetic resonance imaging devices market, get a snapshot of the key highlights entailed in the Global Magnetic Resonance Imaging Devices Market Report

Magnetic Resonance Imaging Devices Overview

According to the US Food and Drug Association (FDA), magnetic resonance imaging (MRI) is a medical imaging procedure for viewing images of the internal structures of the body. MRI scanners use strong magnetic fields and radio waves (radiofrequency energy) to generate images. Magnetic resonance systems can be used to detect, diagnose, and monitor the treatment of various chronic diseases. It is based on a technology that excites and detects changes in protons in the tissue fluid. It can tell the difference between white and grey matter in the brain. When frequent imaging is required for diagnosis or therapy, especially in the brain, it is the only imaging modality in demand because it does not use x-rays.

There are two kinds of MRI systems available: closed MRI and open MRI. A closed MRI system consists of a large magnet and a radio wave that sends and receives signals from the body. The open MRI systems use magnetic bottom and top, and all four sides are open, lowering the risk of panic attacks and claustrophobia.

Magnetic Resonance Imaging Devices Market Insights  

Geographically, the global magnetic resonance imaging devices market is studied for North America, Europe, Asia-Pacific, and the Rest of the World. In terms of revenue share, North America currently leads the global market and is projected to hold its magnetic resonance imaging devices market position during the study period. This dominance is due to the factors such as rising severe chronic conditions, rapid technological development activities, significant adoption due to non-invasiveness, increasing government initiatives, and others. 

In addition to the increase in the cases of chronic diseases, various product development activities, along with the involvement of key manufacturers in accessing local markets, further aid in the growth of the regional magnetic resonance imaging devices markets. For instance, in July 2022, the US Food and Drug Administration (FDA) approved Siemens Healthineers’ MAGNETOM Free.Max, a High-V magnetic resonance (MR) scanner.

Such kinds of product launches in the local markets drive the demand in the magnetic resonance imaging devices market. Therefore, factors such as the presence of a large patient population with chronic diseases, coupled with encouraging reimbursement policies and new product launches in the region, are expected to boost the North American magnetic resonance imaging devices market during the forecast period.

To know more about why North America is leading the market growth in the magnetic resonance imaging devices market, get a snapshot of the Magnetic Resonance Imaging Devices Market Outlook 

Magnetic Resonance Imaging Devices Market Dynamics

The global magnetic resonance imaging devices market is projected to witness considerable growth owing to an upsurge in cases of severe chronic diseases like various types of cancers, cardiac abnormalities, and others, rapid technological advancements in product design, coupled with the rise in geriatric population, rising adoption owing to non-invasiveness, thus expanding the growth of the magnetic resonance imaging devices market during the forecast period from 2022-2027.

However, high equipment installation and maintenance costs and product recalls may be limiting factors in the magnetic resonance imaging devices market growth.

Additionally, the unprecedented outbreak of the COVID-19 pandemic has dived down the growth of the magnetic resonance imaging devices market. This is because the rising COVID-19 cases led to the cancellation of outpatient visits and the suspension of non-emergency hospitals and procedures across the globe. However, the vaccine development of COVID-19 has initiated the process of economic recovery with the easing of lockdown restrictions and the return of normalcy in the economic landscape, which has initiated the process of resumption of regular healthcare services such as outpatient visits and resumption of healthcare services, thereby bringing the demand in the magnetic resonance imaging devices market.

Get a sneak peek at the magnetic resonance imaging devices market dynamics @ Magnetic Resonance Imaging Devices Market Dynamics Analysis

Report Metrics Details
Coverage Global
Study Period 2019–2027
Base Year 2021
Magnetic Resonance Imaging Devices Market CAGR ~6%
Projected Magnetic Resonance Imaging Devices Market Size by 2027 USD 11.28 Billion
Key Magnetic Resonance Imaging Devices Companies General Electric Company, FUJIFILM Holdings Corporation, Siemens Healthcare GmbH, Koninklijke Philips N.V., Canon Medical Systems Corporation, ESAOTE SPA, Aspect Imaging Ltd., Bruker Corporation, Aurora Healthcare US Corp., FONAR Corp., Neusoft Medical Systems Co., Ltd., Shenzhen Anke High-Tech Co. Ltd., Shenzhen Basda Medical Apparatus Co. Ltd., Time Medical Holding, Hyperfine, Alltech Medical Systems, InnerVision MRI Ltd., Magnetica Limited, IMRIS, Deerfield Imaging, Inc., MR Solutions, among others

Magnetic Resonance Imaging Devices Market Assessment

  • Magnetic Resonance Imaging Devices Market Segmentation
    • Market Segmentation By  Field Strength: High-Field MRI Systems (1.5t To 3t), Low-To-Mid-Field MRI Systems (<1.5t), Very-High-Field MRI Systems (4t and Above)
    • Market Segmentation By  Architecture: Closed MRI Systems, Wide-Bore MRI, Open MRI Systems
    • Market Segmentation By  Application: Musculoskeletal, Gastroenterology, Neurology, Oncology, Others
    • Market Segmentation By End User: Hospitals, Diagnostic Centres, Others
    • Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
  • Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

Which MedTech key players in the magnetic resonance imaging devices market are set to emerge as the trendsetter explore @ Magnetic Resonance Imaging Devices Companies 

Table of Contents 

1 Report Introduction
2 Executive summary
3 Regulatory and Patent Analysis
4 Key Factors Analysis
5 Porter’s Five Forces Analysis
6 COVID-19 Impact Analysis on Magnetic Resonance Imaging Devices Market
7 Magnetic Resonance Imaging Devices Market Layout
8 Global Company Share Analysis – Key 3-5 Companies
9 Magnetic Resonance Imaging Devices Market Company and Product Profiles
10 Project Approach
11 About DelveInsight

Interested in knowing the magnetic resonance imaging devices market by 2027? Click to get a snapshot of the Magnetic Resonance Imaging Devices Market Trends

Related Reports

Optical Coherence Tomography Market

Optical Coherence Tomography Market Insight, Competitive Landscape, and Market Forecast – 2027 report delivers an in-depth understanding of market trends, market drivers, market barriers, and key optical coherence tomography companies, including Abbott, Terumo Corporation, ZEISS Group, Leica Microsystems, CANON MEDICAL SYSTEMS EUROPE B.V, Lumedica, among others.

Positron Emission Tomography Market

Positron Emission Tomography Market Insight, Competitive Landscape, and Market Forecast – 2027 report delivers an in-depth understanding of market trends, market drivers, market barriers, and key positron emission tomography companies, including General Electric Company, Mediso Ltd., Bruker Corporation, Siemens Healthcare GmbH, Koninklijke Philips N.V., Canon Medical Systems Corporation, Positron Corporation, Shimadzu Corp., among others.

Computed Tomography Devices Market

Computed Tomography Devices Market Insight, Competitive Landscape, and Market Forecast – 2027 report delivers an in-depth understanding of market trends, market drivers, market barriers, and key computed tomography devices companies, including General Electric Company, FUJIFILM Holdings Corporation, Siemens Healthcare GmbH, Koninklijke Philips N.V., Canon Medical Systems Corporation, NeuroLogica Corp. (Samsung Electronics), Shimadzu Corp., among others.

Cardiovascular Imaging Equipment Market

Cardiovascular Imaging Equipment Market Insight, Competitive Landscape, and Market Forecast – 2027 report delivers an in-depth understanding of market trends, market drivers, market barriers, and key cardiovascular imaging equipment companies, including oshiba, GE Healthcare, Siemens Healthcare, Philips Healthcare, Epsilon Imaging, among others.

Cancer Therapy Market

Cancer Therapy Market Insight, Competitive Landscape, and Market Forecast – 2027 report delivers an in-depth understanding of market trends, market drivers, market barriers, and key cancer therapy companies, including GlaxoSmithKline, Eli Lilly & Company, F. Hoffmann-La Roche Ltd, AbbVie Inc., Amgen Inc, Sanofi, among others.

Intratumoral Cancer Therapies Market

Intratumoral Cancer Therapies Market Insight, Epidemiology, and Market Forecast – 2032 report delivers an in-depth understanding of market trends, market drivers, market barriers, along with emerging drugs and key intratumoral cancer therapies companies, including  Daiichi Sankyo, Amgen, Idera Pharmaceuticals, Philogen, among others.

Other Trending Reports

Treatment Resistant Depression Market | Advanced Renal Cell Carcinoma Market | Brain Cancer Market | Centronuclear Myopathy Market | Head And Neck Squamous Cell Carcinoma Market | Acquired Immunodeficiency Syndrome Market | Acute Intermittent Porphyria Market | Neurovascular Devices Market | Defibrillators Market | Ventricular Hypertrophy Market | Urolithiasis Market | Alopecia Areata Market | Autonomic Dysfunction Market | Acute Ischemic Stroke Ais Market | Adenoid Cystic Carcinoma Market | Aspergillosis Market | Biliary Atresia Market | Biliary Tumor Market | Chronic Inducible Urticaria Market | Chronic Insomnia Market | Critical Limb Ischemia Market | Endometriosis Pain Market | Generalized Anxiety Disorder Gad Market | Hallux Valgus Market | Hemophilia B Market | Immunologic Deficiency Syndrome Market | Neuroblastoma Market | Neuromodulation Devices Market | Neurovascular Thrombectomy Devices Market | Osteosarcoma Market | Pemphigus Vulgaris Market | Progressive Familial Intrahepatic Cholestasis Market | Pruritus Market | Radiation Toxicity Market | Pulmonary Hypertension Associated With Interstitial Lung Disease Market | Cluster Headaches Market | Foot And Ankle Devices Market | Intravenous Immunoglobulin Market | Bile Duct Neoplasm Market | Blood Glucose Monitoring Systems Market | Rett Syndrome Market | Tissue Heart Valves Market | Cardiac Biomarkers Testing Devices Market | Subscription Healthcare | Hepatorenal Syndrome Market | Central Venous Catheters Market | Continuous Renal Replacement Therapy Machines Market | Nonalcoholic Steatohepatitis Market | Necrotizing Enterocolitis Market | Cardiac Amyloidosis Market | Artificial Iris Market | Aortic Aneurysm Stent Grafts Market | Polypoidal Choroidal Vasculopathy Market | Adrenal Crisis Market | Hearing Implants Market | Image Guided Surgery Devices Market | Angioedema Market | Bladder Cancer Market

Related Healthcare Blogs

Upcoming Oncological Drugs

Upcoming Cardiovascular Diseases Drugs

Key Companies in the Cardiology Segment

Heart Failure Market

Top Cardiac Devices in the Market

Related Healthcare Services

Healthcare Consulting

Healthcare Competitive Intelligence Services

Healthcare Asset Prioritization Services

About DelveInsight

DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance.  

CONTACT: Contact Us Shruti Thakur  [email protected]  +1(919)321-6187  https://www.delveinsight.com/medical-devices

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Mango Bunch takes no editorial responsibility for the same.