MRI Systems Market Drivers, Restraints, and Challenges Shaping the Disposable Medical Device Sensors Market Dynamics | P&S Intelligence

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On the basis of architecture, the MRI systems market has been categorized into closed and open MRI. Of the two, open imaging systems are expected to witness faster market growth during the forecast period. The market for these systems is projected to reach $1,730.0 million by 2023, registering a CAGR of 6.5% during the forecast period. Since the elderly are often uncomfortable with the idea of undergoing long-duration MRI scanning in closed MRI settings, the demand for open imaging systems is expected to be high during the forecast period.

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During the forecast period, the MRI systems market is expected to witness the fastest growth in the APAC region, with 6.0% CAGR. The market in the region is primarily driven by improving healthcare infrastructure, increasing prevalence of chronic diseases, and technological advancements in imaging modalities. According to Cancer Australia, a cancer control agency by the Australian Government, 127,887 new cases of cancer were diagnosed in Australia in 2014, and the number is expected to reach 138,321 by the end of 2018. Surging geriatric population is another key factor driving the growth of the APAC MRI systems market. According to the World Bank, the population of the elderly in the total population of APAC increased from 6.9% in 2000 to 8.7% in 2017.

Besides, in March 2018, Canon Medical Systems Corporation entered into a collaborative agreement with Kumamoto University and the University of Bordeaux to conduct research on the application of deep learning reconstruction (DLR), an artificial intelligence (AI) based technology in MRI. DLR is a reconstruction technology that helps eliminate noise from images.

Some of the other key players operating in the global MRI systems market are Siemens AG, General Electric Company, Esaote S.p.A., Hitachi Ltd., Fonar Corporation, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Neusoft Medical Systems Co. Ltd., AURORA HEALTHCARE US CORP, Bruker Corporation, Time Medical Holdings, and Aspect Imaging Ltd.

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This post was originally published on Technology Trend