Report Forecasts MRI Sector to Double by 2020

A new report released by Reportstack analyzes the expected growth of the global Magnetic Resonance Imaging (MRI) systems market. The authors forecast the value of the market to increase from about USD 4.1 billion in 2013 to USD 9.2 billion in 2020, at a Compound Annual Growth Rate (CAGR) of 11.8%. 

Although MRI systems require a substantial initial investment and have high maintenance costs, the sector is experiencing growth and competition is on the increase. In addition, the pace of innovation is accelerating and a variety of options are being offered.

Growth in US and European Union (EU) will come mostly from purchase of new systems to replace existing systems that have reached end-of-life. Elsewhere, growth is expected to be led by innovations, improved reimbursement, cost reduction, and sales of less expensive MRI systems in growth economies.

The report investigates the competitive landscape, current and planned MRI system designs, established and new startups, and market opportunities.

According to the Reportstack analyst, “Sales growth in emerging countries, such as China and India, will be fueled by the rapid uptake of less-expensive MRI systems that will allow access to healthcare in more remote areas of these price-sensitive economies. With increases in average income, growing demand for healthcare, and higher standards for care, emerging markets are expected to see a rise in MRI diagnostic procedures, as the technology offers safe and valuable insight into patient conditions and is a powerful, irreplaceable decision-making tool for physicians."

Reportstack is an online market research company. The full report is available from the Reportstack website.

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