Magnetic Resonance Imaging Market Is Booming Worldwide 2022-2028 | Key Players – General Electric Company, FUJIFILM Holdings Corporation, Siemens

According to a new report published by UnivDatos Markets Insights, the Magnetic resonance imaging Market was valued at more than USD 6900 million in 2020 and is expected to grow at a CAGR of around 5.6% from 2022-2028. The analysis has been segmented into Architecture (Open system, Closed system); Field Strength (Low Field Strength, Mid Field Strength, High Field Strength); Application (Neurology, Cardiology, Gastroenterology, Musculoskeletal, Body Imaging, Other); End User (Hospitals, Imaging Centers, Ambulatory Surgical Centers, Others); Region/Country.

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The magnetic resonance imaging market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the magnetic resonance imaging market. The magnetic resonance imaging market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the magnetic resonance imaging market at the global and regional levels.

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Market Overview

Magnetic resonance imaging is a medical imaging technique used in radiology to form pictures of the anatomy and the physiological processes of the body. MRI scanners use strong magnetic fields, magnetic field gradients, and radio waves to generate images of the organs in the body. The main factors driving this market's growth are the rising prevalence of chronic diseases and the expanding use of diagnostic services. Additionally, the capacity of magnetic resonance imaging (MRI) to diagnose various diseases early, such as stroke, traumatic brain injury, brain, and spinal cord tumors, vascular irregularities, abnormally developed brain regions, and some neurodegenerative disorders significantly boosts the success rates of the treatment, which further encourages its acceptance around the world and facilitates the market's growth. According to the World Health Organization (WHO), one in three people develops some type of neurological disorder that is the leading cause of disability and the second leading cause of death in 2022. Furthermore, market players are focusing on developing and launching products for the diagnosis of diseases. For instance, in November 2021, Philips launches a new AI-enabled MR portfolio of smart diagnostic systems, optimized workflow solutions, and integrated clinical solutions at RSNA 2021.

Some of the major players operating in the market include 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.

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COVID-19 Impact

The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the healthcare industry and has transformed the way healthcare is delivered. The magnetic resonance imaging market has been significantly affected during these times owing of the patients avoiding hospital visits for imaging procedures during the pandemic. The application of MRI in COVID-19 diagnosis is limited, however, MRI is being highly used in the assessment of post-covid complications.

The global magnetic resonance imaging market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

·???????Based on field strength, the market is categorized as low-field strength, mid field strength, and high-field strength. Among these, the mid field strength held a significant market share in 2020. The mid field strength is dominating due to the standard and most-used technology for MRI scanners. Mid field strength MRIs produce high-quality imaging results. Several key market players such as GE Healthcare, Siemens, and Phillips have a strong product portfolio devoted to the mid field strength imaging systems. For instance, in November 2021, Canon Medical Systems Corporation launched an advanced productivity 1.5 T (mid field strength) MRI system to accelerate workflows.

·???????On the basis of application, the magnetic resonance imaging market has been classified into neurology, cardiology, gastroenterology, musculoskeletal, body imaging, and others. The musculoskeletal segment grow with a significant CAGR of the magnetic resonance imaging market during the forecast period. This is attributed to the increased spine injuries and the incidence of intervertebral disc degenerative diseases, particularly in the elderly population.

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Magnetic Resonance Imaging Market Geographical Segmentation Includes:

·???????North America (United States, Canada, and Rest of North America)

·???????Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)

·???????Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)

·???????Rest of the World

APAC held a significant CAGR of the global MRI market during the forecast period. This is mainly attributed to the rising prevalence of chronic diseases, the growing geriatric population, and the need for advanced imaging has grown in the region. Additionally, the advanced medical imaging market will rise in accordance with the expanding medical tourism sector in Asian nations. With a fast-growing healthcare service industry, a good healthcare workforce, and cutting-edge healthcare facilities and services at a cheaper cost than industrialized?nations. For instance, in September 2022, New Delhi's Inter-Univesity Accelerator Centre (IUAC) launched India's one of the first indigenous MRI machines. IUAC created a 1.5 Tesla superconducting MRI magnet system that has been used in the MRI system for a full-body clinical scan. ?Thus, the above-mentioned factors drive market growth.

The major players targeting the market include

·??????? GE医疗 Company

·??????? FUJIFILM Holdings America Corporation Holdings Corporation

·??????? Siemens Healthcare Pvt. Ltd. GmbH

·??????? KONINKLIJKE PHILIPS ELECTRONICS NV N.V.

·??????? Canon Medical Systems Europe Corporation

·??????? Esaote SPA

·??????? Aspect Imaging Ltd.

·??????? Bruker

·??????? Aurora Healthcare, Inc. US Corp.

·??????? Fonar Corporation .

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Magnetic resonance imaging market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

? What are the latest trends, new patterns, and technological advancements in the magnetic resonance imaging market?

? Which factors are influencing the magnetic resonance imaging market over the forecast period?

? What are the global challenges, threats, and risks in the magnetic resonance imaging market?

? Which factors are propelling and restraining the magnetic resonance imaging market?

? What are the demanding global regions of the magnetic resonance imaging market?

? What will be the global market size in the upcoming years?

? What are the crucial market acquisition strategies and policies applied by global companies?

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