In radiology, the images of physiological processes in body are captured with the help of a technique called as magnetic resonance imaging (MRI). There are two types of MRI systems, which include closed MRI systems and open MRI systems. Closed MRI system is a tube-like tunnel with high field strength that is used in achieving greater resolution and thinner slices. The study of smaller parts of human body and fast scanning of patients can be achieved by using closed MRI systems. Closed MRI systems use magnetic field and radio waves that screen and diagnose various diseases such as multiple sclerosis (MS), cartilage degeneration in the knee, breast cancer, dementia, prostate cancer, spinal tuberculosis, and others.
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Increasing aging population and awareness among people about the benefits of MRI scanning are major factors driving growth of closed MRI systems market. Also, advancements in MRI techniques, which includes superconducting (SC) magnets, open architecture, high-field MRI, and software applications are expected to provide opportunities to the market, thereby fueling growth of closed MRI systems market.
However, high cost of magnetic resonance imaging systems, declining reimbursement rates for MRI procedures, complexity of machines, and reduction in the availability of helium that could lead to the replacement of costly MRI magnets in hospitals is expected to hinder the growth of closed MRI systems market.
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Key Developments in Closed MRI Systems Market
Key players are adopting various strategies such as mergers, acquisitions, new product launches, expansions, collaborations, partnerships, approvals, and joint ventures to retain its position in the closed MRI systems market. On April 2, 2018, a healthcare technology unit of GE Healthcare was acquired by Veritas Capital. In 2017, Seimens merged its US$ 15 million healthcare business with its competitor, as an alternative to a flotation. A major diagnostic breakthrough in multiple sclerosis was achieved by Fonar Corporation with the launch of Advanced UPRIGHT® MRI.
Some of the key players in the closed MRI systems market include GE Healthcare, Philips Healthcare, Siemens Healthcare, Toshiba Medical Systems, Imris Inc., Fonar Corporation, Esaote S.P.A., Hitachi Medical Corporation, Neusoft Medical System, and Aurora Medical Imaging.
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