Global Magnetic Resonance Imaging (Mri) Market | Size

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The Global Magnetic Resonance Imaging (MRI)
Market to Evolve at CAGR of 5.62 by 2028

• Triton Market Research presents the Global
  Magnetic Resonance Imaging (MRI) Market segmented
  by Application (Cardiology, Neurology,
  Gastroenterology, Musculoskeletal, Oncology,
  Other Applications), Architecture (Open MRI
  Systems, Closed MRI Systems), Field Type (Low
  Field, High Field 7T MRI, 3T MRI, Mid Field),
  and Geography (North America, Asia-Pacific,
  Middle East and Africa, Europe, North America).
  The report also discusses the Market Summary,
  Industry Outlook, Impact of COVID-19, Key
  Insights, Porters Five Forces Analysis, Market
  Attractiveness Index, Vendor Scorecard, Key
  Impact Analysis, Key Market Strategies, Drivers,
  Challenges, Opportunities Competitive Landscape,
  Research Methodology Scope, Global Market Size,
  Forecasts Analysis (2021-2028).
• Based on Triton Market Researchs report, the
  global magnetic resonance imaging (MRI) market is
  likely to witness growth at a compound annual
  growth rate of 5.62 over the estimated phase
  from 2021 to 2028.

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Magnetic resonance imaging (MRI) is a
non-invasive imaging technology that helps
develop 3-D anatomical images. It is mainly used
to diagnose diseases, along with monitoring
treatments. Over the years, neoadjuvant
chemotherapy indications have increased, making
the residual tumor assessment vital for
successive surgical strategies. In this regard,
MRI appears to be a more useful and sensitive
imaging technique to characterize breast cancer.
Hence, the growing use of MRI for breast cancer
evaluation is likely to create several
opportunities for the MRI market. However,
certain drawbacks, such as stringent regulations
and the high cost of magnetic resonance imaging
machines, impedes the studied markets overall
growth. Geographically, North America is
estimated to emerge as the fastest-growing region
in the magnetic resonance imaging (MRI) market.
The regions growth is mainly owing to the high
number of MRI procedures and strong reimbursement
policies. Further, the growing mobile MRI
installations have widened the markets score in
the region. Other than this, innovative designs,
such as open MRI and upright MRI, are gaining
traction in hospitals and office settings,
thereby driving the magnetic resonance imaging
market on a progressive path across the United
States and Canada. The major companies in the MRI
market include Fonar Corporation, Canon Medical
Corp, Esaote SPA, GE Healthcare, Carestream
Health Inc, Siemens Healthineers, Shimadzu Corp,
Fujifilm Holdings Corporation, Medtronic Plc,
Analogic Corporation, Aurora Imaging Technology
Inc, Philips Healthcare, Konica Minolta, Mindray
Medical International Limited, and Hologic
Inc. The players in the market need to comply
with several regulations. These regulations are
created to ensure safety from MRI and differ from
country to country. Further, brand image plays a
major role in the products success, mainly for
new market players. On the other hand, data
traceability and protection are vital in order to
develop trust among consumers. Moreover, the
customers will trade their data for services that
add value, resulting in brand commitment. Hence,
the threat of new players is likely to be from
moderate to high, whereas the competition among
players is estimated to be high during the
forecast period.
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