Magnetic Resonance Imaging (MRI) Systems Market Growing Steadily

BEAR, Del. - Oct. 28, 2020 - PRLog -- The magnetic resonance imaging (MRI) systems market (https://www.psmarketresearch.com/market-analysis/mri-market) is being positively impacted by government support, the rising awareness on early disease diagnosis, increasing geriatric population, surging prevalence of chronic diseases, and technological advancements. The sale of such systems generated $5.9 billion in revenue in 2017, and the market is projected to progress at a CAGR of 5.2% during 2018–2023 (forecast period). MRI systems utilize radio waves and magnetic field to generate images of bones, tissues, organs, and blood vessels, helping doctors identify edema, tumors, vascular blockage, lesions, and other anomalies.

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On the basis of strength, the MRI systems market is categorized into low-to-mid (<1 T), high (1.5 T), very-high (3 T), and ultra-high (7 T and above) fields. A revenue contribution of $3,031.7 million, the highest among all, came from high-field systems in 2017, as they offer high accuracy of pictures and have the capability to provide spatial resolution. Further, imaging is faster in such systems, compared to those with a lower strength.

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A lucrative opportunity for the market growth is being offered by hybrid MRI scanners. As such devices utilize the soft-tissue MRI as well as positron emission tomography (PET) technologies, they overcome the limitations of both individual imaging modalities, resulting in more-accurate and faster results. With doctors becoming increasingly aware of this new technology, the adoption of such scanners is forecast to rapidly surge during the forecast period across the globe.

Hence, with an increasing number of people realizing the benefit of early diagnosis, especially of chronic diseases, the market for MRI systems would continue prospering.