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

The Europe Open System MRI Market is segmented by Resolution, Application (Neurology, Gastroenterology, Cardiology, Oncology and Other Applications), and Geography.

Market Snapshot

Study Period:

2018 - 2026

Base Year:

2019

CAGR:

5.2 %

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Market Overview

The Europe Open System MRI Market is expected to register a CAGR of nearly 5.2% during the forecast period. The major factors driving the growth of the Europe Open System MRI market are growing incidence of age-associated chronic diseases, changing lifestyles, and high demand for safe and accurate diagnostic methods.

Open MRI is the more popular one between the two available systems of MRI, open and closed. Open MRI systems have a magnetic field in the top and bottom and do not enclose the patient in a tunnel. Open MRI is used to accommodate claustrophobic, obese and pediatric patients. MRI is a powerful diagnostic tool which is replacing CT because of its higher sensitivity and use of non-ionizing radiations.

As per European Cancer Information System (ECIS), estimates that in Europe cancer burden has risen to 2.7 million new cases (all types, excluding non-melanoma skin cancer) and 1.3 million deaths in 2020. Therefore all these factors are supporting the Europe open system MRI market. Thus, high burden of cancer in the Europe is expected to increase use of open system MRI which helps in planing cancer treatment, like surgery or radiation in near future. Considering all these factors the Europe Open System MRI Market is expected to show significant market growth over the forecast period.

Scope of the report

As per scope of the report, Open MRI is the more popular one between the two available systems of MRI, open and closed. Open MRI systems have a magnetic field in the top and bottom and do not enclose the patient in a tunnel. This prevents the patients becoming Claustrophobic. The Europe Open System MRI Market is segmented by resolution, application and geography.

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Key Market Trends

Neurology Segment Under Application is Expected to Dominate the Market Growth Over the Forecast Period

MRI systems use in the neurology include 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. MRI also has potential to detect focal signal abnormalities which may assist the clinical differentiation between Alzheimer's disease (AD) and vascular dementia (VaD).

As per Alzheimer Europe 2019 report, estimates that the number of people with dementia in Germany in 2018 was around 1,585,166 and this number is projected to rise to 2,748,178 in 2050. Similarly, as a percentage of the overall population with dementia will represent 3.43% in 2050 compared to 1.91% in 2018. As number of people will dementia is expected to rise in coming years which shows positive impact on market.

Hence, the high burden of neurological diseases in the Europe is expected to rise demand for diagnostic imaging equipment like open MRI and hence this factor is expected for the market growth.

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Competitive Landscape

The Europe Open System MRI Market is consolidated. Majority of the open system MRI are being manufactured by the some of the major key players. Some of the market leaders in Europe Open System MRI are GE Healthcare, Hitachi Medical Corporation, Philips Healthcare, Siemens Healthcare, ESAOTE SA and Canon Medical Systems Corporation.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 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 Product Launches

    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 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Europe

        1. 5.3.1.1 Germany

        2. 5.3.1.2 United Kingdom

        3. 5.3.1.3 France

        4. 5.3.1.4 Italy

        5. 5.3.1.5 Spain

        6. 5.3.1.6 Rest of Europe

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 GE Healthcare

      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 Canon Medical Systems Corporation

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

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

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