Magnetic Resonance Imaging Systems Market Future Challenges and Industry Growth Outlook by 2025

Based on these aspects, Global Market Insights, Inc., predicts that the magnetic resonance imaging systems market might touch USD 8 billion by the year 2025.


Anand Joshi

5 months ago | 2 min read

The magnetic resonance imaging (MRI) systems market is set to record noteworthy gains given to surging occurrence of diseases like cancer or diabetes. As per the National Health Council, nearly 40 million Americans every year suffer from at least one chronic disease. Conditions like diabetes and cancer can usually cause complications in the future, impacting a patient’s day to day activities. Thus, people prefer to conduct diagnosis at an early stage to avoid further complications.

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On the other hand, increasing cases of road accidents could play a crucial role in driving the demand for MRI solutions for precise and quick diagnosis. Emerging countries like Africa and India are experiencing rising number of road accident cases annually. According to a study published by wheels24, approximately 14,050 people died in road accidents across South Africa in 2017. While on a global scale, millions of people suffer heavy trauma or death due to road incidents. Such instances could hugely benefit the magnetic resonance imaging industry growth over the forthcoming years.

Based on these aspects, Global Market Insights, Inc., predicts that the magnetic resonance imaging systems market might touch USD 8 billion by the year 2025. However, factors like high costs of MRI solutions could negatively impact industry growth over the predicted timeframe.

Rapid technological development coupled with growing integration of smart solutions like AI into MRI systems could enhance overall business outlook. Researchers from all over the world are working on creating an advanced MRI system that could accurately detect complexities inside the human body.

Taking July 2020 for instance, a new study at the Stanford University School of Medicine developed a new approach to diagnostic imaging which integrates the use of magnetic resonance imaging (MRI) and positron emission tomography (PET) to precisely detect the sources of chronic pain better than conventional methods.

On the regional front, China is considered to be a lucrative ground for MRI system companies. The region previously accounted for nearly 56% of the overall APAC market revenue share. Increasing prevalence of elderly population base coupled with supportive demographic trends could positively impact regional growth. Usually, the geriatric population is prone to chronic bone disorders like osteoporosis and arthritis that heavily rely on MRI systems for effective treatments.

According to the Centers for Disease Control and Prevention (CDC), China faces a perturbing threat from noncommunicable diseases (NCDs) that account for an estimated 82% of China’s disease burden. As a result, the local government has roll out favorable regulatory policies for MRI systems and enhance healthcare infrastructure.

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Companies operating in the MRI systems industry are implementing numerous business strategies like new product launches, acquisitions, and collaborations for strengthening their market share. Citing an instance, earlier in 2016, Hitachi signed a partnership deal with Ningbo Jansen NMR Technology to jointly build a superior MRI magnet.

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Created by

Anand Joshi







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