Open MRI Systems Market Is Projected To Reach $1.4 Billion By 2026: Grand View Research, Inc.

Open MRI Systems Market Is Projected To Reach $1.4 Billion By 2026: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
The global open MRI systems market size was valued at USD 906.0 million in 2018 and is projected to grow at a CAGR of 6.4% by 2026.

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.

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.

North America open MRI systems market size, by field strength, 2015 - 2026 (USD Million)

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Further key findings from the report suggest:

  • 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

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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

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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