This research document on the global magnetic resonance imaging (MRI) market assess the scenario according to the multiple market segments along with geographical and consumer based tendencies. The report is compiled specifically for the purpose of its user gaining a high level of strategy oriented knowledge that enables him/her to take the next step in a successful manner.
The report provides a thorough examination of all the latest market trends, growth drivers of the industry, and critical restraints. One of the key features of the report is an easy to comprehend pattern of data organization, in terms of historic and forecast data. The report also provides a complete perspective of the MRI market using Porter's Five Force Model. All top companies in the MRI market are explained according to their successful business strategies, innovative distinctions, and a SWOT analysis.
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This research report contains vital data regarding the global magnetic resonance imaging (MRI) market. MRI is a technique used in medical imaging for radiology. It is used to examine the physiology and anatomy of a patient or even a healthy person. MRI devices make use of radio waves and strong magnetic fields to create extremely detailed images of the body. MRI scanners are primarily used in hospitals and healthcare centers for the purpose of medical diagnosis.
There are currently two main types of MRI scanners according to structure: closed MRI and open MRI. According to the strength of the magnetic field used, an MRI can be recognized as a low field MRI, a mid field MRI, and a high field MRI.
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The greatest driving factor of the global MRI market is the increasing aging population. The population of the elderly is expected to reach 970 million by 2030, which increases the number of patients that could suffer from breast cancer, diabetes, and different types of heart diseases. The fact that and MRI scanner can help in diagnosing a condition at an early stage makes it more and more of a necessity. Other drivers for the MRI market include a recovering economy, increasing awareness towards early diagnostics, and an increase in disposable income of families.
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From 2012 to 2017, the open MRI market segment is expected to grow at a CAGR of 4.8%, while the closed MRI market segment is expected to grow at a CAGR of 2.5%. The global MRI market was valued at US$3.9 billion in 2011. It is expected to grow at a CAGR of 3.5% from 2012 to 2017, to finally reach US$4.8 billion by the end of the forecast period.
The top players in the global MRI market include GE, Siemens, Philips, Hitachi, and Toshiba. Each company has an independent branch that is dedicated to the manufacture of medical equipment.