Top Three Emerging Trends Impacting Global MRI Systems Market
By Medimaging International staff writers
Posted on 21 Feb 2017
Image: The Vantage Titan 3T MRI system (Photo courtesy of Toshiba Medical Systems).
The size of the global magnetic resonance imaging (MRI) systems market is expected to reach USD 7.52 billion by 2021, driven by top three emerging trends: strategic initiatives; growing focus on development of PET/MRI hybrid imaging systems, and; growing importance of tele-imaging. These are the latest findings of Technavio Research, a global technology research and advisory company.
According to Technavio, the global MRI systems market will grow at a CAGR of close to 7% through 2017-2021, led by the Americas, which will record the highest revenue and maximum incremental growth. The top three emerging trends are expected to significantly impact the global MRI systems market and contribute to its growth.
Strategic initiatives: In order to survive in the highly competitive MRI systems market, vendors are adopting various strategic initiatives. Strategic collaborations and mergers and acquisitions are being undertaken by complementary players in order to expand their geographical presence and improve their expertise. This will contribute to the development and launch of new products, while allowing end-users to choose from a wide range of treatment options depending on the disease complexity. Thus, strategic initiatives undertaken by vendors in the MRI systems market will provide them with an added advantage and boost their prospects.
Growing focus on development of PET/MRI hybrid imaging systems: Vendors, such as Philips, Aspect Imaging, and MR Solutions, have launched indigenous PET/MRI hybrid imaging systems in the MRI systems market. These systems combine anatomical imaging and functional imaging data to deliver excellent soft tissue characterization and imaging provided by MRI scans without ionizing radiation. Additionally, positron emission tomography/magnetic resonance imaging hybrid systems are finding major applications in breast and prostate cancer. The emergence of these systems is expected to provide a boost to the MRI systems market.
Growing importance of tele-imaging: The introduction of fully automated, versatile, and easy to use imaging systems has led to significant use of teleradiology and tele-imaging in remote areas where the required technology is not easily available. Researchers are focusing on using inexpensive and readily available technology/equipment to develop a low-cost tele-imaging platform in order to further drive the usage of tele-imaging in low and middle-income countries. This has resulted in higher demand for digital imaging in the developed as well as developing countries, including the US, Germany, Japan, India, Brazil, and China, thus driving the growth of the overall MRI systems market.