Open System MRI Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The market is segmented by Resolution, Application (Neurology, Gastroenterology, Cardiology, Oncology and Others), and Geography

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Open System MRI market Size

Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 4.8 %

Major Players

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*Disclaimer: Major Players sorted in no particular order
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Open System MRI market Analysis

MRI is a powerful diagnostic tool which is replacing CT because of its higher sensitivity and use of non-ionizing radiations. 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.

Conventional MRI scanners are a cylinder shape, while an open MRI does not completely surround your body. It is usually open on two or three sides. An Open MRI provides a more relaxed, less confining environment and lower noise levels making it less stressful for you. Therefore all these factors are supporting the open system MRI market.

Open System MRI market

MRI is a powerful diagnostic tool which is replacing CT because of its higher sensitivity and use of non-ionizing radiations. 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.

In the report, a detailed analysis of the open system MRI market is provided. The market is evaluated by collating revenues generated across segments, categorized by Resolution, Application, and Geography.

 

By Resolution
Low- Field Scanner
Mid-field Scanner
High-Field Scanner
By Application
Neurology
Gastroenterology
Cardiology
Oncology
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Open System MRI market Trends

This section covers the major market trends shaping the Open System MRI market according to our research experts:

Application in Neurology is Expected to Dominate the market

MRI is the best tool for diagnostic imaging and neuroscience research. It provides morphological images with the highest spatial resolution and unmatched soft tissue contrast, as well as the unique functional information of the central nervous system (CNS). 97% of MRI sites perform the brain examinations and 1 in 4 MRI scans is of the brain, making it one of the most commonly performed exams in neurology.

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.

According to The American Speech-Language-Hearing Association (ASHA), worldwide, in 2016, there were approximately 27 million new cases of Traumatic Brain Injury (TBI) with an age-adjusted incidence rate of 369 per 100,000, which represents a 3.6% increase from 1990. In the same year, prevalence was 55.5 million individuals, representing an 8.4% increase from 1990.

Hence, the increase prevalence of TBI have resulted in increased demand for diagnostic imaging equipment like open MRI and hence this factor is expected for the market growth.

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North America is Expected to Dominate the Open System MRI Market

North America currently dominates the open system MRI market, and it is expected to continue its stronghold for a few more years. This region is expected to increase its market share in the future, owing to the well-established healthcare system of the United States and the initiatives that are being carried out by the various organizations, along with the government to promote the disease diagnosis. Siemens and Philips are the leading companies in the United States.

The average MRI scanning cost ranges between USD 650 to USD 950 based on dye being used or not. With that, the United States has the largest market share in North America, and is also expected to record a high CAGR over the forecast period.

Geography

Open System MRI market

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

Open System MRI market Leaders

  1. GE Healthcare

  2. Hitachi Medical Corporation

  3. Philips Healthcare

  4. Siemens Healthcare

  5. ESAOTE SA

*Disclaimer: Major Players sorted in no particular order

Concentration

Open System MRI market Report - 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 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 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  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

      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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Open System MRI market Research FAQs

The Open System MRI Market is studied from 2018 - 2028.

The Open System MRI Market is growing at a CAGR of 4.8% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

GE Healthcare, Hitachi Medical Corporation, Philips Healthcare, Siemens Healthcare, ESAOTE SA are the major companies operating in Open System MRI Market.

Open System MRI Industry Report

Statistics for the 2023 Open System MRI market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Open System MRI analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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