Overview:

The global market report on magnetic resonance imaging (MRI) systems reveals the possibility of growing with a CAGR of 3.5% during the forecast period (2018-2023). This would help the market reach a valuation of USD 5 billion by the end of 2023. Market Research Future (MRFR) in their recent report on the same topic discussed several factors that can impact the growth rate. 

The market would benefit from growing investment plans in the healthcare sectors, especially in the Asia Pacific region. In the research segment, a hike in the influx of investment would ensure a better growth rate. As the demand for better diagnosis and non-invasive procedures are rising, people are looking forward to technologies that can inspire better market understanding. However, a high price can create a negative impact on the market.

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Segmentation:

The global market report on the magnetic resonance imaging (MRI) systems market includes several segments with an intent to get details. These segments are type, strength, disease application, and end user. Such a detailed look into the market reveals insights that can help in planning the market strategies. 

By type, the report on the magnetic resonance imaging (MRI) systems market can be segmented into closed MRI, open MRI, MRI, wide-bore and MRI standard bore.

By field strength, the market report on the magnetic resonance imaging (MRI) systems would include 1.5t MRI systems, 3t MRI systems, high-field MRI systems, very-high-field MRI systems, low-to-mid-field MRI systems, and others.

By disease application, the market report containing details on magnetic resonance imaging (MRI) systems includes brain & neurological MRI, spine & musculoskeletal MRI, breast MRI, cardiovascular MRI, pelvic & abdominal MRI, and others.

By end user, the market report on the magnetic resonance imaging (MRI) systems includes research laboratories, hospitals & clinics, diagnostic imaging centers, and pharmaceutical & biotechnology companies.

Regional Analysis:

The MRFR report on magnetic resonance imaging (MRI) systems market includes several regions to analyze the demographic details that can influence the market. This regional analysis also has several other information that would include data on growth pockets. 

The Americas would be in charge as the regional market is on the track of getting a boost from several big companies who are investing much in research and development to come up with one of a kind models. In addition, the market is also getting support from various hospitals, laboratories, and research centers where the demand for such devices is growing. 

In Europe, the magnetic resonance imaging (MRI) systems market would get backed by better healthcare policies and growing government funding. Quite a few companies are also operating from the region, which would boost the regional market. In the Asia Pacific region, a hike in intake would be massive. Several countries are investing much in their respective healthcare industries owing to which growth would be substantial.  

Competitive Landscape:

The global market for magnetic resonance imaging (MRI) systems market is getting boosted by the strategic decisions of several companies like Siemens AG, Hitachi, GE Healthcare, Canon Medical Systems, Toshiba Corporation, Philips, Xingaoyi, Toshiba Corporation, and Aurora Imaging Technologies, Inc. These companies are planning mergers, acquisitions, collaborations, and others to ensure their own stand in the market. Their growing investment in the research and development sector is promoting healthy competition, which could ensure a better growth rate in the coming years. 

Industry News:

In February 2020, Hyperfine Research Inc. announced that they have received clearance from FDA for their bedside MRI machine, which is first-of-its-kind. Its cost would be significantly lower than the traditional models and power consumption would be less. 

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