Open MRI Systems Market Worth $1.4 Billion By 2026 | CAGR: 6.4%: Grand View Research, Inc.

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Oct 08, 2019, 06:05 ET

SAN FRANCISCO, Oct. 8, 2019 /PRNewswire/ -- The global open MRI systems market size is expected to reach USD 1.4 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 6.4%. Increasing demand for high strength open MRI systems is expected to drive growth during the forecast period.

Key suggestions from the report:

High field strength open MRI systems segment is expected to grow at the fastest CAGR as these systems are effective in capturing detailed images
Low field strength open MRI systems segment held the largest market share in 2018 mainly owing to limitations of open structure in integrating high strength magnets
On the basis of application, the brain segment held the largest open MRI systems market share in 2018 owing to growing geriatric population and high prevalence of neurodegenerative diseases
The breast segment, based on application, is expected to grow at a lucrative rate mainly due to growing incidence of breast cancer and rising demand for early diagnosis
Asia Pacific is anticipated to witness the fastest growth over the forecast period due to factors such as rapidly advancing healthcare facilities, increasing disposable income, rising awareness about preventive diagnostics, and growing economies
Major players in the industry are focusing on technological advancements to enhance images and reduce the time of diagnosis

Read 105 page research report with ToC on "Open MRI Systems Market Size, Share, & Trends Analysis Report By Field Strength (Low, Medium, High), By Application (Brain, Cardiac, Breast, Spine, Abdominal) By Region, Competitive Insights, And Segment Forecasts, 2019 - 2026" at: https://www.grandviewresearch.com/industry-analysis/open-mri-systems-market

Changing lifestyle and increasing prevalence of age-associated chronic conditions including cancers and neurological disorders are among the factors expected to boost the demand for safer and accurate diagnostic imaging devices. Open MRIs are specifically designed to provide comfort to patients, especially children and obese patients.

Limited number of high strength open MRI systems and large number of ongoing studies are expected to widen the scope for growth of the market over the forecast period. Launch of Oasis open MRI 1.2T system by Hitachi and rapid geographic expansion of the company are likely to contribute to the high demand for advanced open MRIs in developed and developing regions.

Increasing number of strategic initiatives such as development of advanced software for open MRI systems and patient-friendly devices with less noise is among the factors expected to propel market growth. Moreover, rising awareness about preventive diagnostics and growing medical tourism in developing regions are some of the factors expected to aid in growth.

Grand View Research has segmented the global open MRI systems market on the basis of field strength, application, and regions:

Open MRI Systems Field Strength Outlook (Volume in '000 Units; Revenue, USD Million, 2015 - 2026)

Low
Medium
High

Open MRI Systems Application Outlook (Volume in '000 Units; Revenue, USD Million, 2015 - 2026)

Brain
Spine
Abdominal
Breast
Cardiac
Others

Open MRI Systems Regional Outlook (Volume in '000 Units; Revenue, USD Million, 2015 - 2026)

North America

U.S.
Canada

Europe

France
Germany
Italy
U.K.
Spain

Asia Pacific

China
Japan
India
Thailand
South Korea

Latin America

Brazil
Mexico
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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