NEW YORK, Dec. 17, 2014 /PRNewswire-USNewswire/ -- With advancements in neurological and functional magnetic resonance imaging (MRI), the MRI market is seeing new growth, according to Kalorama Information. Though musculoskeletal, cardiovascular and breast MRI scans account for the majority of market volume, newer 3T systems are providing a higher resolution of images, which are creating opportunities for more sophisticated applications. The medical magnetic resonance imaging (MRI) market is growing at a rate of 4%, with world market revenues for 2013 at $5.1 billion. Kalorama's report, MRI: World Market Analysis, analyzes the current and potential world market for MRI systems.
"The market is looking for new applications, faster scan times and increased image quality," said Bruce Carlson, publisher of Kalorama Information. "Advances in higher field strength – 3T and above – are yielding better diagnostic information and shortening exam times."
One of the significant trends occurring in the MRI systems market is the movement toward higher-Tesla MRI. In clinical practice, 1.5 Tesla (1.5T) MRI had been the standard, but access to 3 Tesla (3T) technology has been found to yield improved image quality and rapid scan times. Low field MR systems are limited by the nature of their low magnetic field strength. These systems are not able to perform well in the newer applications of MRI in breast, cardiac and neurological imaging, which require more field strength. So, efforts are growing to optimize the high field systems already on the market, and developing new high field systems for these and other emerging applications.
The healthcare market researcher's report forecasts future growth to 2018. Market segments covered include the world, U.S., European, BRIC, and Japanese markets. The report also provides current market size based on revenues to manufacturers of MRI systems, as well as forecasts of future revenues. This report also reviews the nature and direction of research and trends, and gives insight into some issues facing manufacturers and vendors.
3T systems have helped grow MRI's applications in neurology, cardiology, spinal, extremity, and breast examinations. 3T MRI is also being increasingly used in clinical pediatrics, because the strengths of 3T imaging assist in overcoming the anatomic, physiologic and behavioral challenges of imaging children. Higher-Tesla systems have pushed the development of more sensitive coils and magnets. At the same time, cuts in reimbursement have led to more utilization of MRI scanners so that the systems can pay for themselves. This, in turn, should cause manufacturers to push systems that help users maximize equipment usage.
The report profiles several companies, including large companies that have made names for themselves in the field, as well as smaller firms with market niches. The companies profiled include:
- Advanced Imaging Research Inc.
- Analogic Corp.
- Esaote SpA
- Fonar Corp.
- GE Healthcare
- Hitachi Medical Systems America Inc.
- Hologic Inc.
- InnerVision MRI Ltd.
- Millenium Technology Inc.
- MR Instruments Inc.
- Philips Healthcare
- Siemens Healthcare
- Time Medical Systems Inc.
- Toshiba America Medical Systems
Kalorama Information's report, MRI: World Market Analysis, provides market forecasts based on an examination of current market conditions and on investigations into the development of new products by key companies. The market data are generated into multiple year forecasts for different product segments covered in the report. The report can be found at KI: http://www.kaloramainformation.com/MRI-8550075/.
About Kalorama Information -- Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog.
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SOURCE Kalorama Information