What is Magnetic Resonance Imaging Systems?
It is a widely used radiology technique for the imaging of physiological processes and anatomical components of the human body. MRI devices provide high-quality images of organs and other anatomical body structures by utilising radio waves and strong magnetic fields or field gradients. MRI, unlike CT, PET, and CAT scans, does not utilise ionising radiation or X-rays. Nuclear magnetic resonance is the basis for MRI imaging technology (NMR).
There has been an increase in the use of MRI systems for diagnostic imaging, the detection of new helium deposits, technological advancements, an increasing elderly population, an emphasis on early diagnosis, increasing health awareness, and an increasing demand for high-quality image-producing high field MRI systems. The market’s growth will be bolstered by increased R&D investment and new product releases. System costs may impede market expansion in the next years.
By field strength and geography, the magnetic resonance imaging systems market is divided. In terms of field strength, the MRI market is divided into high, medium, and low field systems. In 2018, the high-field MRI systems segment dominated the market. Due to improved image quality, physicians have a substantial part of the market. The launch of new devices with FDA certification and the CE mark is expected to drive the fastest growth in the market for extremely high field MRI systems throughout the forecast period. Low-to-mid-field MRI systems have a field strength of 1.5T, while high-field MRI systems have a field strength of 4T or above. High-field MRI devices have field strengths ranging from 1.5T to 3T.
Magnetic Resonance Imaging Systems Market Segmented into
The MRI market is divided into closed and open systems based on architecture. In 2018, closed MRI systems had the highest revenue share in the market. Closed MRI systems dominated the market because of their superior image quality. Standard and large bore MRI systems are subcategories of closed MRIs. Wide bore segments are expected to grow rapidly in the next years since they can handle larger patients.
With an increasing number of MRI installations, the Asia Pacific region held the greatest revenue share at the regional level in 2018. Infrastructure growth is a result of increased foreign direct investment (FDI), rising disposable incomes, and increased investments by hospitals and diagnostic centres for infrastructural development. It was mainly owing to the existence of significant manufacturers, availability of funding, increasing awareness, and infrastructure development that the North American market held the second highest share of the global industry. MRI systems were also popular in the European market. Growth in the Middle East and Africa region will slow down in the future. The magnetic resonance imaging systems market in Latin America is expected to grow at a modest pace during the forecast period.
The MRI market is Split into three subcategories based on field strength: very high, medium, and low. In 2018, the high-field MRI systems segment accounted for the greatest market share of the overall MRI system market. Better picture quality is responsible for a large portion of this market’s growth and, as a result, physicians tend to choose it. Due to new product launches with CE mark and FDA approval, very high field MRI systems will see the strongest growth throughout the projection period. Low-to-mid-field MRI systems have a field strength of 1.5T, while high-field MRI systems have a field strength of 4T or above. High-field MRI devices have field strengths ranging from 1.5T to 3T.
There were a disproportionately large number of MRI machines in Asia Pacific. Infrastructure growth is a result of increased foreign direct investment (FDI), rising disposable incomes, and increased investments by hospitals and diagnostic centres for infrastructural development. It was mainly owing to the existence of significant manufacturers, availability of funding, increasing awareness, and infrastructure development that the North American market held the second highest share of the global industry. MRI systems were also popular in the European market. Growth in the Middle East and Africa region will slow down in the future. The magnetic resonance imaging systems market in Latin America is expected to grow at a modest pace during the forecast period.
COVID-19 Impact on Global Magnetic Resonance Imaging Systems Market
Imaging is the most popular screening option for the COVID-19 since it offers a primary diagnosis in a short period of time. Research on COVID-19 and its impact on patients of all ages and socioeconomic backgrounds has made extensive use of all imaging modalities, including magnetic resonance imaging. Smaller, lighter, and more portable low-magnetic-field MRIs are now possible thanks to advances in medical imaging technology. COVID-19 can have a greater impact on people with preexisting medical issues. As a result, the use of imaging devices during a pandemic may grow. For example, in 2020, Hyperfine got FDA approval to utilise Swoop for brain imaging in all age groups. As a result, the market analysed is affected by increased product approval and acceptance.
In addition to technological advancements, such as the incorporation of MRI with PET or CT to provide imaging possibilities with less radiation exposure, rising adoption of MRI in developing countries, and rising adoption of universal health coverage, the magnetic resonance imaging market is gaining momentum.
Developments in recent times
Siemens will introduce its High-V MRI whole-body MRI in November 2020, which is its smallest and lightest model ever. Digital technology and a new field strength of 0.55 tesla give this MRI scanner an edge in clinical applications. To better scan patients with implants, Magnetom Free.Max uses MRI to significantly improve pulmonary imaging.
The Swoop Portable MR imaging equipment gained 510(k) clearance from the US Food and Drug Administration (FDA) in August 2020. With the Swoop system from Hyperfine, MR imaging can be performed at the patient’s bedside, plugging into a conventional electrical outlet and being managed by wireless tablet, making MR imaging accessible, immediate, and seamless.
