Market Analysis and Insights: Asia-Pacific Magnetic Resonance Imaging Devices Market
Asia-Pacific Magnetic resonance imaging devices market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.1% in the forecast period of 2020 to 2027 and is expected to reach USD 2,088.45 million by 2027. Increasing focus on replacing low-field MRI systems with high-level MRI systems and introduction of advance technology based magnetic resonance imaging devices are the major drivers which propelled the demand of the market in the forecast period.
Magnetic resonance imaging devices have techniques that are mainly used in radiology to take pictures of anatomy and physiological processes in the patient's body. MRI scans are used to diagnose brain tumors, MS, stroke, brain injury, developmental disorders, dementia, infections and causes of headaches. The MRI scan method is a type of diagnostic test that is not invasive and is used to diagnose a wide range of medical conditions.
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Increased focus on replacing low-level magnetic resonance imaging systems with high-level magnetic resonance imaging, increasing the age of the elderly, increasing awareness of early diagnosis, introducing magnetic resonance imaging techniques and increasing the incidence of chronic diseases are the main drivers of demand for magnetic resonance imaging devices. However, the high cost of magnetic resonance imaging systems, product recall and increased use of refurbished and recycled magnetic resonance imaging products are expected to hinder the growth of magnetic resonance imaging equipment during the forecast period.
The magnetic resonance imaging devices market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Magnetic Resonance Imaging Devices Market Scope and Market Size
Magnetic resonance imaging devices market is categorized into six notable segments which are based on field strength, type, modality, indication, end user and distribution channel.
On the basis of field strength, Asia-Pacific magnetic resonance imaging devices market is segmented into high-field MRI systems, mid-field MRI systems, low-field MRI systems and others. In 2020, high-field MRI systems holds highest market share as high-field MRI systems have a field strength of 1T or greater, which corresponds to shorter scan times as well as the ability to see details of the smallest tissues in the patient's body. High-field MRI systems are fuelled by the benefits of potentially higher signal-to-noise ratio, contrast-to-noise ratio and spectral resolution for certain applications.
On the basis of type, Asia-Pacific magnetic resonance imaging devices market is segmented into closed MRI systems, wide bore MRI and open MRI systems. In 2020, closed MRI systems holds the highest market share as closed MRI scanning process is very fast due to magnetic field strength, closed MRI usually scans fast but it still takes some time to scan depending on the patient's body part, healthcare professionals need to scan.
On the basis of modality, Asia-Pacific magnetic resonance imaging devices market is segmented into stationary system, portable/mobile system and point-of-care (POC) system. In 2020, stationary system segment is expected to dominate the Asia-Pacific magnetic resonance imaging devices market with the highest share due to Stationary magnetic resonance imaging systems have a high temporal and good internal side view of patients with high local and time resolution that is useful to healthcare professionals in providing the patient with appropriate treatment.
On the basis of indication, Asia-Pacific magnetic resonance imaging devices market is segmented into brain and neurological, musculoskeletal, cardiology, mammography, oncology, pelvic and abdominal, gynecology, urology, dental and others. In 2020, brain and neurological holds highest market share as magnetic resonance imaging devices provide details as well as clear images of various parts of the brain, which is not possible with x-rays, CT scanner, or ultrasound.
On the basis of end user, Asia-Pacific magnetic resonance imaging devices market is segmented into hospitals, diagnostic centers, imaging centers, specialty clinics, ambulatory surgical centers and academic & research institutes. In 2020, hospitals hold highest market share as the hospital department has well-trained staff to receive the correct and better treatment of patients with MRI. The installation of high-definition MRI systems with better professional healthcare professionals can be seen more in the hospitals.
On the basis of distribution channel, Asia-Pacific magnetic resonance imaging devices market is segmented into direct tender and retail sales. In 2020, direct tender holds highest market share as direct tender is the method of large-scale product sales to increase the efficiency of business growth with end users, by conducting appropriate negotiations and working on them. Direct distribution allows the consumer to purchase magnetic resonance imaging equipment directly from the manufacturer.
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Asia-Pacific Magnetic Resonance Imaging Devices Market Country Level Analysis
Magnetic resonance imaging devices market is analysed and market size information is provided by field strength, type, modality, indication, end user and distribution channel as referenced above.
The countries covered in the magnetic resonance imaging devices market report are the Japan, China, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific.
Asia-Pacific is expected to grow with the highest CAGR in the forecast period as in the Asia-Pacific’s countries demand for magnetic resonance imaging devices is increasing very rapidly. Japan is expected to dominate in the market in the Asia-Pacific market. Japan is one of the leading countries in the world with rapidly increasing diagnosis rate with rising government initiatives for awareness regarding importance of diagnosis.
The country section of the magnetic resonance imaging devices market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Strategic Collaboration and Product Launch by Manufactures is Creating New Opportunities for Players in the Magnetic Resonance Imaging Devices Market
Magnetic resonance imaging devices market also provides you with detailed market analysis for every country growth in aesthetic industry with magnetic resonance imaging devices sales, impact of advancement in the magnetic resonance imaging devices and changes in regulatory scenarios with their support for the magnetic resonance imaging devices market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Asia-Pacific Magnetic Resonance Imaging Devices Market Share Analysis
Magnetic resonance imaging devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Asia-Pacific magnetic resonance imaging devices market.
The major companies which are dealing in the Asia-Pacific magnetic resonance imaging devices market are
Aspect Imaging, CANON MEDICAL SYSTEMS CORPORATION (A Subsidiary of Canon Inc.), Siemens Healthcare GmbH, GE Healthcare, Hitachi, Ltd., Koninklijke Philips N.V., Neusoft Corporation, ESAOTE SPA, AllTech Medical Systems, Shanghai United Imaging Medical Technology Co., Ltd, United Imaging Intelligence, Medonica Co. LTD, IMRIS, SG HealthCare, Elekta AB and Beijing Wandong Medical Technology Co., Ltd, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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