Asia Pacific Open System MRI Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Asia Pacific Open System MRI Market is Segmented by Resolution (Low- Field Scanner, Mid-field Scanner and High-Field Scanner), Application and by Geography

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2019
CAGR: 4.5 %

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Market Overview

Open systems are preferred systems for scanning infants and can accommodate overweight and obese patients also. Hospitals and diagnostic centers prefer to purchase open systems as they allow diagnostic imaging of a variety of conditions. These systems have a small risk of panic attacks and claustrophobia, leading to widespread acceptance of these programs by patients with these conditions. 

The growth of this open MRI systems market can be attributed to the increasing geriatric population and rising prevalence of cancer in the region. According to estimates of Johnson and Johnson, Asia pacific has 50% of the world's cancer burden in the year 2020 and is expected to increase by 36% for 2030. However, the growing disease burden, and increasing application of the MRI system, and the advantages of the open MRIs are boosting the market growth in the region. Therefore all these factors are supporting the Asia Pacific Open System MRI market.

Scope of the report

As per the scope of the report, magnetic resonance imaging (MRI) uses a strong magnetic field and radio waves to create detailed images of the organs and tissues within the body. Open MRI systems have a magnetic field in the top and bottom and do not enclose the patient in a tunnel. This prevents patients from becoming Claustrophobic.

By Resolution
Low- Field Scanner
Mid-field Scanner
High-Field Scanner
By Application
Neurology
Gastroenterology
Cardiology
Oncology
Others
Geography
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific

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Key Market Trends

Application in Neurology is Expected to Dominate the Asia Pacific Open System MRI Market

The neurological uses of MRI systems include the diagnosis of brain and spinal cord tumors, infection, and vascular irregularities, which may lead to stroke. MRI can also detect the disorders, along with performing the monitoring of degenerative disorders, such as multiple sclerosis, and it can even document brain injury from trauma. Other abnormalities that are often diagnosed include brain aneurysms, stroke, tumors of the brain, as well as tumors or inflammation of the spine.

According to an article published in ‘Stroke and Vascular Neurology’ 2019 edition, the death rate for cerebrovascular diseases in China was 149.49 per 100 000, accounting for 1.57 million deaths in 2018. Therefore with the increasing prevalence of neurological diseases, the demand for diagnostic imaging equipment like open MRI and hence this factor is expected for the market growth.

stroke

Competitive Landscape

The majority of the open system MRI are being manufactured by some of the major key players. Market leaders with more funds for research and a better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing the emergence of some small players due to the rise of awareness. This has also helped the market grow.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Number of MRI Procedures

      2. 4.2.2 Increasing Applications in Clinical Diagnosis and Increasing Disease Burden

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Open MRI Systems

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Resolution

      1. 5.1.1 Low- Field Scanner

      2. 5.1.2 Mid-field Scanner

      3. 5.1.3 High-Field Scanner

    2. 5.2 By Application

      1. 5.2.1 Neurology

      2. 5.2.2 Gastroenterology

      3. 5.2.3 Cardiology

      4. 5.2.4 Oncology

      5. 5.2.5 Others

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 Japan

        3. 5.3.1.3 India

        4. 5.3.1.4 Australia

        5. 5.3.1.5 South Korea

        6. 5.3.1.6 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Mindray

      2. 6.1.2 Hitachi Medical Corporation

      3. 6.1.3 Philips Healthcare

      4. 6.1.4 Siemens Healthcare

      5. 6.1.5 ESAOTE SA

      6. 6.1.6 SHENZHEN BASDA MEDICAL APPARATUS CO.,LTD

      7. 6.1.7 Canon Medical Systems Corporation

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Asia Pacific Open System MRI Market market is studied from 2018 - 2026.

The Asia Pacific Open System MRI Market is growing at a CAGR of 4.5% over the next 5 years.

Hitachi Medical Corporation, Siemens Healthcare, ESAOTE SA, Philips Healthcare, SHENZHEN BASDA MEDICAL APPARATUS CO.,LTD. are the major companies operating in Asia Pacific Open System MRI Market.

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