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Global Magnetic Resonance Imaging (MRI) Systems Market to See High CAGR Growth of 4.3 % by 2026

Global Magnetic Resonance Imaging (MRI) Systems Market, By Field Strength (Very-high—field, High-field, Low-to-mid-field), By Application (Neurology, Cardiology, Breast Imaging, Vascular Imaging, Extremity Imaging, Pediatric Imaging, Others), By Architecture (Closed MRI systems, Standard bore MRI, Wide bore MRI, Open MRI systems)

Market Analysis: Global Magnetic Resonance Imaging (MRI) Systems Market

Inclination and benefits of using diagnostic imaging systems has impacted the Global Magnetic Resonance Imaging (MRI) Systems Market positively. This will raise the initial estimated value of the market from USD 5.39 billion in 2018 to an estimated value of 7.87 billion by 2026 registering a CAGR of 4.3% in the forecasted period of 2019-2026

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Market Definition: Global Magnetic Resonance Imaging (MRI) Systems Market

Magnetic Resonance Imaging (MRI) is an imaging technology that is used to diagnose the diseases or health concerns in the body. Magnetic Resonance Imaging scanners uses electromagnetic radiation to develop images of the body. Its applications are widespread in terms of diagnosis, aftermath of diseases, identification of phase of disease.

Market Drivers:

  • Rising awareness about the benefits of diagnostic imaging systems has positively impacted the growth of the market
  • Development of innovative and hybrid MRI systems that offer high quality imaging are also one of the drivers of the market

Market Restraints:

  • High cost of installation and maintenance of MRI systems will act as a major market restraint
  • MRI systems aren’t useful or compatible in patients that have non-removable metal substances in their body, this is acting as a major restraint for the market

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Segmentation: Global Magnetic Resonance Imaging (MRI) Systems Market

  • By Field Strength
    • Very-high—field MRI systems (4T and above)
    • High-field MRI systems (1.5T to 3T)
      • 5T MRI systems
      • 3T MRI systems
    • Low-to-mid-field MRI systems (less than 1.5T)
  • By Application
    • Neurology
    • Cardiology
    • Breast Imaging
    • Vascular Imaging
    • Extremity Imaging
    • Pediatric Imaging
    • Others
  • By Architecture
    • Closed MRI systems
    • Standard bore MRI
    • Wide bore MRI
    • Open MRI systems

Competitive Analysis: Global Magnetic Resonance Imaging (MRI) Systems Market

The Global Magnetic Resonance Imaging (MRI) Systems Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Magnetic Resonance Imaging (MRI) Systems market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

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