Last updated on April 24, 2014 at 21:24 EDT

MarketsandMarkets: Magnetic Resonance Imaging (MRI) Global Market Worth US$4,987 Million by 2016

November 8, 2011

DALLAS, Texas, November 8, 2011 /PRNewswire/ –

The report “Magnetic Resonance Imaging (MRI): Advanced Technologies and
Global Market (2011 – 2016) [


]” studies the global market for magnetic
resonance imaging systems by technologies and applications; analyzing the
major market drivers, restraints, and opportunities for MRI market in North
America, Europe, Asia, and ROW (Rest of the World).

Browse market data tables and in-depth TOC on Magnetic Resonance Imaging
(MRI): Advanced Technologies and Global Market (2011 – 2016).


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The global MRI market is expected to grow from $3,759 million in 2011 to
$4,987 million in 2016 at a CAGR of 5.81% from 2011 to 2016. The closed MRI
systems sub-market commanded the largest share within the MRI market. The
high-field MRI Market [


] commands the largest share of the overall MRI
market in terms of value. The applications of such MRI systems include brain
exploration, pulmonary MR angiography, peripheral MR angiography, bone and
joint imaging, abdominopelvic imaging, and cardiac imaging.

The increasing aging population in developing countries and rising
incidence of diseases are driving the demand from the consumer’s side.
Besides, the fact that MRI imaging is safe for the providers as well as the
patients makes it a preferred modality.

The market of low field MRI will rapidly decrease with a negative CAGR
of 2.63% in the coming five years. The market is expected to be replaced
with high field MRI that is much more efficient and can produce high
resolution images in a shorter time.

North America is the leading market for MRI systems; followed by Europe
and Asia. The market is being driven by Europe and Asia. The demand in
developed regions is more for replacement purchases.

GE (U.K.), Philips (The Netherlands), and Siemens (Germany) together
constitute the largest share; around 80%. Siemens is the leader with 32%.
The other players that are rapidly gaining presence in the market are
Toshiba (Japan), Hitachi (Japan), and Esoate (Italy).

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Source: PR Newswire