MRI Systems Market Analysis

MRI Systems Market Analysis

MRI systems market from closed magnetic is set to reach USD 11 billion by 2032 owing to the evolution of more potent and effective equipment. Manufacturers are continuously attempting to lower noise levels, boost scan rates, and use less power, which is likely to propel segment growth. For instance, in November 2022, Koninklijke Philips N.V, a Dutch medical devices firm, introduced a new fully sealed 1.5T magnet MRI scanner to achieve helium-free MR operations.
 

MRI systems market from mid field strength segment is foreseen to be worth more than USD 5 billion in revenue by 2032. Magnetic field strengths used by mid-field strength MRI systems usually range from 0.5 to 1.5 Tesla. It is used in a range of therapeutic settings, such as oncology, cardiology, orthopedics, and neurology due to its adaptability for medical professionals. Moreover, the versatility of these systems is supporting developments in the capabilities of mid-field strength MRI scans.
 

Based on end-use, the magnetic resonance imaging systems market by hospitals segment is slated to garner over USD 4 billion by 2032, propelled by wide applicability in hospitals for diagnostic and therapeutic purposes to monitor the progression of diseases and the positive results of therapies over time. The information-rich images help professionals in hospitals to evaluate diseases for a large number of patients at a rapid speed compared to traditional forms.
 

MRI systems market from vascular application segment is estimated to witness significant CAGR of 5% over the forecast period. The MRI is a non-invasive diagnostic tool that provides detailed images of blood vessels and blood flow, allowing doctors to diagnose and monitor a variety of vascular conditions. For instance, it can identify a disease named venous thrombosis that causes blood clots in the veins and specify their size and position for determining the best course of action. These benefits are likely to fuel product uptake for vascular applications through 2032.
 

North America magnetic resonance imaging systems market is projected to depict growth at over 5.5% CAGR from 2023 to 2032 attributed to surging emphasis on the development of technologies, especially in the fields of software and image processing. In March 2022, a team of researchers at the University of Waterloo developed a new form of MRI tech that makes cancerous tissues glow in medical images, enabling doctors to detect the illness more accurately.