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Global Magnetic Resonance Imaging System Market – MRI 2018 Forecast & Analysis in New Research Report at ReportsnReports.com
Date:7/19/2013

, as of the first quarter of 2013, and is expected to grow at a CAGR of 4.56% reaching approximately around $5.24 billion by 2018. As of March 2013, North America dominates the market with nearly 40% 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% over the analysis period. Improved spending capability and physicians inclination towards MR imaging over other conventional medical imaging modalities is fuelling 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 compared to public hospitals. The adoption of MR imaging equipment 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 452.07°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 healthcare 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 U.S. also resulted in 20-25% 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.


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