North America Open System MRI Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The North America Open System MRI Market is segmented by Resolution (Low- Field Scanner, Mid-field Scanner, High-Field Scanner), Application and by Geography.

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2021
CAGR: 4.5 %

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Market Overview

MRI is a powerful diagnostic tool that 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 patients from becoming Claustrophobic. There is a study that shows that one in every 6 patients suffers from claustrophobia hence the open system is preferred and is fast replacing the closed system.

The per capita income in countries is found to be high in countries such as the United States and Canada, making health care facilities such as MRI more affordable. There is a rise in the aging population and disease incidence in these countries contributing to the growth of the 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
North America
United States
Canada
Mexico

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Key Market Trends

Application in Neurology is Expected to Dominate the Market

MRI is the best tool that 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 brain examinations and 1 in 4 MRI scans is of the brain, making it one of the most commonly performed exams in neurology. According to Somnath Pal in his article published in 2018, twenty million Americans experience some form of neuropathy, and 16% of U.S. households contain an individual with brain impairment. Therefore with the huge burden of neurological diseases, the demand for its diagnosis is expected to grow.

USA neuro

Competitive Landscape

The majority of the open system MRI is 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.

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 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

  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 Canon Medical Systems Corporation

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

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

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Frequently Asked Questions

The North America Open System MRI Market market is studied from 2018 - 2026.

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

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

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