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Open System Mri Market Size, Share, Industry Trends and Forecast to 2030

Open System Mri Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.

  • Published date -30th Jan 2024

  • Formats -PDF, CSV

  • Region -Global

Market Size & CAGR of Open System MRI Market in 2021

The global open system MRI market is expected to reach a market size of USD 1.5 billion in 2021, with a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period from 2021 to 2026. The increasing prevalence of chronic diseases, technological advancements in MRI systems, and growing investments in healthcare infrastructure are driving the growth of the open system MRI market.

COVID-19 Impact on the Open System MRI Market

The COVID-19 pandemic has had a significant impact on the open system MRI market. The temporary closure of healthcare facilities, cancellations of elective procedures, and supply chain disruptions have led to a decline in the demand for open system MRI systems. However, as healthcare services resume and the focus on early diagnosis of diseases increases, the market is expected to recover steadily in the post-pandemic period.

Open System MRI Dynamics

The open system MRI market is driven by factors such as the increasing prevalence of neurological disorders, musculoskeletal conditions, and cancer. The ability of open system MRI systems to accommodate patients of various sizes and reduce claustrophobia makes them popular among healthcare providers and patients. However, high costs associated with open system MRIs and the presence of alternative imaging modalities pose a challenge to market growth.

Segments and Related Analysis

The open system MRI market is segmented based on field strength, application, and end-user. By field strength, the high-field segment dominates the market due to its high image resolution and diagnostic accuracy. In terms of application, the neuroimaging segment holds the largest market share, driven by the rising incidence of neurological disorders. Hospitals and diagnostic centers are the major end-users of open system MRI systems, accounting for a significant share of the market.

By Region Analysis

North America leads the open system MRI market, owing to the presence of sophisticated healthcare infrastructure, high healthcare expenditure, and the adoption of advanced imaging technologies. Europe follows closely, with increasing investments in research and development activities. The Asia Pacific region is expected to witness substantial growth, attributed to the growing geriatric population and improving healthcare facilities.

Key Market Players and Competitive Landscape

Key players in the open system MRI market include GE Healthcare, Siemens Healthineers, Philips Healthcare, Hitachi Medical Systems, and Toshiba Medical Systems. These companies focus on strategic initiatives such as product launches, collaborations, and acquisitions to maintain their market position and gain a competitive edge. The market is highly competitive, with technological advancements and product innovations driving the competition.

Recent Happenings in the Open System MRI Market

In recent years, the open system MRI market has witnessed several developments aimed at enhancing imaging capabilities and patient comfort. For example, GE Healthcare introduced the SIGNA Pioneer MRI system, featuring silent scan technology for reduced noise levels during imaging procedures. Siemens Healthineers launched the MAGNETOM Free.Max MRI system with advanced imaging algorithms for improved diagnostic accuracy. These innovations reflect the ongoing efforts to enhance open system MRI technology and provide better patient outcomes.

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