Mri installed base

One of the significant factors limiting the market's development is the higher costs associated with the installation and maintenance of imaging equipment.

Installation and proper maintenance of these systems often require complex infrastructure and associated costs, which many medical institutions can often not undertake or provide. A significant number of the installed base of the MRO systems is located across countries in the emerging market, such as the Asia Pacific. These lead hospitals and diagnostics centers in these regions to purchase refurbished MRI systems to meet their imaging needs.

The refurbished systems are available at a substantially lower cost than installing a newer system. Hospitals and other healthcare institutions in developing countries often opt for these systems due to their cost-effectiveness.

At the same time, another critical limitation is the voluntary product recalls of a number of imaging systems due to reasons such as human error. It has also adversely impacted the market growth. To know how our report can help streamline your business, Speak to Analyst.

The global market is segmented into less than 1. The dominance of the 1. Several key market players such as GE Healthcare, Siemens, and Phillips have a strong product portfolio devoted to the imaging systems of this strength.

They also possess product offerings with diverse application areas. This segment dominated the global market in terms of volume and is one of the highest shareholders in terms of value. The more than 1. They have superior imaging qualities, such as higher spatial resolution. For instance, in terms of volume and value share, the Indian market seems to be dominated by the 1. The less than 1. The market is segmented into musculoskeletal, neurology, cardiology, body imaging, and others in terms of application.

The musculoskeletal segment is expected to dominate in the forecast period due to the large procedural volumes devoted to this application and the strong efficacy of MRI in soft tissue imaging.

The neurology segment is expected to be the second most dominant segment in the forecast period because of the increasing usage of this imaging technique for imaging strokes. The cardiology and the body imaging segments are anticipated to grow at comparatively lower CAGR despite the increasing usage of these imaging techniques in certain cardiological events, such as the detailed imaging of the beating heart.

Increasing application areas such as molecular imaging are expected to boost the growth of the others segment during the forecast period. The market is segmented into hospitals, ambulatory surgical centers, and diagnostic centers for the end-user. One of the critical factors for the dominance of the hospitals segment is a large installed base of these systems.

This is primarily because hospitals are the only institutions that can provide the complex infrastructure needed to install and run these systems. The diagnostic center's segment is anticipated to be the second most dominant segment because, in multiple regions such as India, a significant number of imaging examinations are conducted in these facilities.

The ambulatory surgical centers segment is estimated to grow at a comparatively lower CAGR due to the relatively smaller installed base and the presence of such facilities in specific regions only. To get more information on the regional analysis of this market, Request a Free sample. In terms of regional share, North America was one of the largest markets, with the region's revenue standing at USD 1.

The market in Europe is the second most dominant market globally. The critical reasons for the region's high growth rate are the increasing adoption of advanced systems, a strong potential patient base, and the rising awareness regarding advanced diagnostics due to the increasing prevalence of severe disorders. The market in Latin America is estimated to register a comparatively steady CAGR in the forecast period backed by the increasing developments of the healthcare infrastructure such as diagnostics systems and the growing procedure volumes of medical imaging.

But, the increasing adoption of advanced healthcare systems stoked by the rising patient awareness and developing economic parameters can drive the growth in this region during the forecast period. In terms of the competitive landscape, this market reflects a classical monopolistic market scenario, consisting of a wide and varied range of players: established and emerging.

The established companies have a robust revenue position and a diverse product portfolio comprising MRI systems of varying strengths and application areas. These companies also have a strong foothold in the key growth regions, and some of these established players include GE Healthcare, Siemens Healthineers, and Philips.

Also, the competitive scene has companies of a comparatively smaller size with a limited number of offerings in their product portfolio, especially in terms of imaging systems of higher strengths such as 7. These companies possess a strong domestic presence such as Shenzhen Anke Hi-tech Co.

They are expected to increase their market share in the forecast period. To get information on various segments, share your queries with us. The global magnetic resonance imaging equipment market report provides a detailed analysis of the market. Besides this, the report offers insights into the market trends and highlights key industry developments.

In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years. Growing at a CAGR of 6. The rising prevalence of chronic diseases, increased demand for imaging, favorable health reimbursement, and launches of technologically advanced products are driving the market. Launches of technologically advanced products addressing the critical unmet needs of the market, such as pediatric imaging and lung imaging, are driving the adoption of magnetic resonance imaging equipment.

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It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team. Listen to Audio Version. Approximately a fifth of these are now more than ten years old. This makes them challenging to be properly maintained and repaired and — more worryingly - suboptimal for conducting many modern procedures.

COCIR will publish an in-depth overview of numerical data in the coming weeks. The ECR congress also marks the fifth anniversary of the formation of EuroSafe Imaging , whose mission is to support and strengthen medical radiation protection in Europe.

This is why this worrying trends on ageing equipment is an ongoing concern and why we felt important to use this flagship event to share these critical data. We encourage national and regional governments and EU policymakers to demonstrate support for replacing obsolete equipment and bring the benefits of the latest advances to all EU citizens. Medical imaging, radiotherapy and digital technologies developed by industries covered by COCIR directly contribute to patient safety and quality.

COCIR members remain committed to continuously enhancing both quality and safety through constant research and innovation to ensure best support is given to healthcare providers and to ultimately benefit the citizens in Europe and beyond.