Magnetic Resonance Imaging (MRI) refers to the diagnostic imaging techniques for the diagnosis, assessment and treatment of medical conditions. The technique uses strong magnetic field, radio frequency pulses and a computer to produce detailed image of soft tissues, organs, bones and other internal body structures.
The global MRI market is growing at a considerable rate due to the growing geriatric population, increasing prevalence of chronic diseases, and increasing awareness about benefits of MRI technology. In addition, the technological advancements and increasing healthcare expenditure are also driving the growth of the global MRI market. The advent of hybrid MRI system and novel application areas, such as detection of multiple sclerosis and breast cancer, are creating ample growth opportunities for the global MRI market. The factors such as stringent regulatory requirements, ceasing helium gas deposits around the world, lack of skilled professionals and high cost of MRI system are inhibiting the growth of the global market.
The U.S. dominated the global MRI market in the previous years and is expected to retain its dominance in the upcoming years. The U.S. is expected to hold 33.9% share the global MRI market by 2022. The open MRI architecture segment is anticipated to witness significant growth during the forecast period, owing to its increasing compliance and increased patient comfort. The brain and head application segment dominated the global MRI market, as MRI is mostly preferred for neurological disorders.
Some of the key companies operating in the global MRI market include Koninklijke Philips N.V., Siemens AG, Hitachi Ltd., General Electric Company, Aurora Imaging Technologies Inc., Esaote SpA and Toshiba Corporation.
