Research and Markets has announced the addition of the “Global MRI Market – Growth, Trends and Forecasts (2014 – 2019)” report to their offering.
The market is expected to register a CAGR of 6% between 2014 and 2020. There are two systems of screening available, the open and the closed type.
The open MRI system has a faster growing market as it is preferred over the closed system alleviating claustrophobia in the patients. MRI is the tool of choice for medical investigations as it is more sensitive than CT and does not use ionizing radiations. MRI is widely used in the diagnosis of cancers, neurological and cardiac disorders. The increasing incidences of these diseases favor the fast growing MRI market.
The United States, Europe and South East Asia hold about 80 percent of the market share but Asian countries like India and China have the fastest growing market as the large investments made in medical research and healthcare have resulted in advanced technologies. The affordability and awareness of medical health facilities have also increased in these countries.
The MRI systems market can be segmented on the basis of structure (Open, Closed and Standing), resolution (low field, mid field and high field), applications (Neurological, Gastrointestinal, Cardiology and Oncology) and regionally (North America, Europe, Asia-Pacific and the rest of the world). Some of the key players are GE (USA), Hitachi Medical Corporation (Japan), Philips Healthcare (Netherlands), Siemens Healthcare (USA) and Toshiba Medical Systems (Japan).
Drivers: Increasing incidences of diseases and increasing aging population are the main drivers. The advancement of technology, increasing affordability, growing awareness and availability of healthcare facilities are other contributing factors to the growing market.
Constraints: Though the technology is considered safe, the numbers of accidents associated have been increasing as the magnetic field is dangerous when the patients have embedded devices such as pacemakers and cochlear implants.
For more information visit http://www.researchandmarkets.com/research/4wv55k/global_mri_market