Market Research Report
Magnetic Resonance Imaging Market Size, Share & Trends Analysis Report By Architecture, By Field Strength, By Application (Brain & Neurological, Spine & Musculoskeletal), By End-use, By Region, And Segment Forecasts, 2021 - 2028
|Published by||Grand View Research, Inc.||Product code||986173|
|Published||Content info||210 Pages
Delivery time: 2-10 business days
|Magnetic Resonance Imaging Market Size, Share & Trends Analysis Report By Architecture, By Field Strength, By Application (Brain & Neurological, Spine & Musculoskeletal), By End-use, By Region, And Segment Forecasts, 2021 - 2028|
|Published: December 30, 2020||Content info: 210 Pages||
The global magnetic resonance imaging market size is expected to reach USD 8.5 billion by 2028. The market is expected to expand at a CAGR of 6.0% from 2021 to 2028. The growing prevalence of chronic diseases and increasing demand for early diagnostic techniques are the factors expected to drive the market. In addition, the growing adoption of less invasive procedures is also contributing to the growth of the market. Moreover, the growing number of clinical trials to understand the effectiveness and efficiency of magnetic resonance imaging (MRI) machines in various clinical applications is also expected to boost market growth.
End-users such as research institutes and universities are frequently studying the efficiency of MRI devices with high field strength such as 7T, 10T, and 10.5T. The growing number of research studies will help in unlocking the potential usage and advantages of high field MRI machines for various preclinical as well as clinical applications. Currently, 7T MRI machines are only effective in brain and knee imaging, largely due to the absence of advance coil required for these high field machines. Therefore, the development of advance coils to expand the application of 7T MRI machines is expected to propel market growth during the forecast period.
Key market players are adopting various strategies such as mergers and acquisitions, collaborations, and partnerships to be competitive in the market. Aurora Imaging Technology entered into a distribution agreement with Sumec Group Corporation. Under this distribution agreement, Sumec Corporation will distribute MRI portfolio ofAurora Imaging Technology in China. This, in turn, is helping both the companies in geographical expansion.