MRI Equipment Market To Reach 5.5 Billion Dollars By 2010, According To New Report By Global Industry Analysts, Inc.

Main Category: MRI / PET / Ultrasound
Also Included In: Medical Devices
Article Date: 23 Apr 2008 - 1:00 PDT

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Since the introduction of magnetic resonance imaging (MRI), the technology has become a ubiquitous diagnostic tool for better understanding of diseases. A trade-off between patient-comfort designs and enhanced diagnostic information highlights the trend in modern MRI equipment research. In this highly sophisticated industry, innovation and service quality are the trump cards of success. Image quality remains the impulse for equipment selection. Field strength is a standard component of image quality as it adds to extended application range, signal-to-noise ratio and short examination times. Use of dedicated MRI systems is expected to witness significant growth due to high imaging quality and cost effectiveness.

Development of 3T scanners has provided the MRI industry an edge over 1.5T scanners, much touted as the industry's 'Gold Standard'. 3T MRI systems are a success story in the MRI market today. Lower examination costs complimented by improved image quality and lesser scan times highlight the pros of 3T scanners.

United States represents the largest market in both dollar and unit terms. Magnetic resonance imaging (MRI) equipment market in the United States is estimated at $1.9 billion for 2008, as stated in a recent report published by Global Industry Analysts, Inc. The Very High-Field MRI Systems market in the United States is projected to reach $968 million by the year 2010. Very High-Field Systems also represent the fastest growing segment, as hospitals and clinics upgrade old equipment with state-of-the-art systems.

Japan represents the second largest market for MRI equipment. The country holds the distinction of featuring the highest MRI scanners per million population. Closed MRI Systems market in Japan represents the largest product category, accounting for an estimated market share of 84% (in value terms) for 2008. MRI industry is in its infancy in most regions of Asia-Pacific, and countries such as India, Singapore, Malaysia, Thailand, South Korea, China offering enormous potential for growth. Asia-Pacific is projected to register a CAGR of 11.6% over the period, 2005-2010. Open MRI systems market in Asia-Pacific is estimated at $81 million for 2008.

GE Healthcare, Siemens Medical Solutions, and Philips Medical Systems dominate the global MRI equipment market. Other prominent players profiled in the report include Esaote SPA, Fonar Corp., Hitachi Medical Corporation, IMRIS, Medinus, Medtronic Surgical Navigation Technologies, Siemens Medical Solutions, and Toshiba Medical Systems Corp.

The report titled "Magnetic Resonance Imaging (MRI) Equipment: A Global Strategic Business Report" published by Global Industry Analysts, Inc., analyzes the global and regional markets under the following segments - Closed MRI Systems and Open MRI Systems. United States market for MRI Equipment is separately analyzed by the following segments categorized by magnetic field strength: Low & Mid-Field Systems, High Field Systems, and Very-High Field Systems. The market is analyzed in terms of value and volume sales over the 2000-2015 period for major geographical markets including United States, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. The report reviews strategic corporate activity of major market participants.

For more details of this research report please visit here.

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

http://www.StrategyR.com