Feature | September 06, 2013

Advances in MRI Market Technology Trend Analysis

September 6, 2013 -- Reportlinker.com released a new report on the MRI market titled “Advances in Magnetic Resonance Imaging (MRI) Market (2013-2018) - Technology Trend Analysis – By Architecture, Field Strengths, Technology & Applications in Medical Diagnostics with Market Landscape Analysis – Estimates up to 2018.”

The research showcases the technology and market impact of existing and emerging MRI systems having a huge growth potential in medical imaging for the coming five years. Closed MRI imaging systems command the market due to the high clinical value delivered by the systems.

MRI imaging has become the preferred diagnostic imaging method for imaging the central nervous system, particularly for detecting brain tumors, spine lesions, imaging blood vessels, and stroke affected areas of the brain. This technology has gained impetus from the keen interest shown by technology developers and manufacturers that wish to make it more patient friendly.

The current magnetic resonance imaging industry is producing more than 2,000 units per year. The global market for these systems values $4.13 billion, as of the first quarter of 2013, and is expected to grow at a CAGR of 4.56 percent and reach approximately around $5.24 billion by 2018. As of March 2013, North America dominated the market with nearly 40 percent share, followed by Europe due to technological developments for effective diagnostics and rapidly aging population. However, Asia is slated to grow at a high CAGR of 5.2 percent over the analysis period. Improved spending capability and physicians’ inclination towards MR imaging over other conventional medical imaging modalities is fueling demand for MRI across this region. Asia holds enormous growth potential, particularly from countries with large population bases such as China and India. The demand is anticipated primarily from private hospitals rather than public hospitals.

The adoption of MR imaging equipment in the market is also likely to grow owing to the rising incidences of cardiac diseases, neurological and oncological cases in the region.

Liquid helium, which has an extremely low boiling point of minus 452 F, is used for cooling the superconducting magnets of MR systems. A severe shortage in the availability of helium across the globe would affect significantly for MR OEMs. The prices for hospital-grade helium are anticipated to rise from 2013, leading to higher health-care costs or, in the worst scenario, the need for an alternative technique for cooling MRI machines.

Moreover, changing healthcare reforms from early 2013 in the United States also resulted in 20-25 percent reimbursement cuts for MRI, affecting the global clinical OEMS, physicians and healthcare payers. Nevertheless, once market barriers of tight R&D budgets, high costs of MRI scans and alternate cooling systems are resolved, the industry is expected to grow considerably. With technology developers exploring many new applications, especially those involving cardiac and breast imaging, it was inevitable that magnetic resonance imaging would evolve into a highly sophisticated medical imaging tool.

For more information, visit www.reportlinker.com/ci02240/Medical-Imaging.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Medical_Imaging

Related Content

MR angiography, MRA, Bayer, Gadavist, gadobutrol injection, FDA approval, supra-aortic arteries
Technology | Contrast Media| April 29, 2016
Bayer announced that the U.S. Food and Drug Administration (FDA) has approved Gadavist (gadobutrol) injection for use...
News | Advanced Visualization| April 07, 2016
April 7, 2016 — Circle Cardiovascular Inc.
Toshiba, ACC 2016, American College of Cardiology, CT, MR, ultrasound, angiography, interventional radiology

Infinix 4-D CT image courtesy of Toshiba America Medical Systems.

News | Cardiac Imaging| March 30, 2016
Toshiba America Medical Systems Inc. announced it would demonstrate the following diagnostic imaging technologies at...
Duke University study, molecular lightbulbs, MRI imaging agent

Duke scientists have discovered a new class of inexpensive and long-lived molecular tags that enhance MRI signals by 10,000-fold. To activate the tags, the researchers mix them with a newly developed catalyst (center) and a special form of hydrogen (gray), converting them into long-lived magnetic resonance 'lightbulbs' that might be used to track disease metabolism in real time. Image courtesy of Thomas Theis, Duke University.

News | Magnetic Resonance Imaging (MRI)| March 28, 2016
Duke University researchers have taken a major step towards realizing a new form of magnetic resonance imaging (MRI)...
Circle Cardiovascular Imaging, GE Healthcare, licensing and distribution agreement, cmr42 software, cardiovascular MRI
News | Magnetic Resonance Imaging (MRI)| March 21, 2016
March 21, 2016 — Circle Cardiovascular Inc., developer of...
stroke damage, MRI, contrast agent, gelatinase, University of Missouri study
News | Stroke| March 16, 2016
A team of researchers led by the University of Missouri School of Medicine has developed a new, real-time method of...
Technavio market report, global medical imaging market, refurbished systems
News | March 10, 2016
According to the latest research study released by Technavio, the global medical imaging market is expected to reach...
Boston Scientific, Acuity X4 quadripolar left ventricular leads, FDA approval, ENABLE MRI study
Technology | Leads Implantable Devices| March 04, 2016
March 4, 2016 — Boston Scientific has received U.S.
viosworks, cardiac MRI

GE's ViosWorks combines 3-D cardiac anatomy, function and flow in a single, free-breathing, approximately 8 minute scan. 

 

Feature | Magnetic Resonance Imaging (MRI)| February 17, 2016 | Dave Fornell and Jeff Zagoudis
For decades now, magnetic resonance imaging (MRI) has been noted for its excellent soft tissue imaging capability wit
Philips, FDA 510k clearance, Expression MR400, MRI patient monitor
Technology | Patient Monitors| February 11, 2016
Royal Philips announced U.S. Food and Drug Administration (FDA) 510(k) clearance for the Expression MR400, a new...
Overlay Init