North America Open System MRI Market Size
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| Forecast Data Period | 2023 - 2028 |
| Market Size (2023) | USD 552.83 Million |
| Market Size (2028) | USD 808.91 Million |
| CAGR (2023 - 2028) | 7.91 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Open System MRI Market Analysis
The North America Open System MRI Market size is estimated at USD 552.83 million in 2023, and is expected to reach USD 808.91 million by 2028, growing at a CAGR of 7.91% during the forecast period (2023-2028).
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.
North America Open System MRI Market Trends
This section covers the major market trends shaping the North America Open System MRI Market according to our research experts:
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.
North America Open System MRI Industry Overview
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.
North America Open System MRI Market Leaders
Hitachi Medical Corporation
Philips Healthcare
Siemens Healthcare
ESAOTE SA
Canon Medical Systems Corporation
*Disclaimer: Major Players sorted in no particular order
North America Open System MRI Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Increasing Number of MRI Procedures
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4.2.2 Increasing Applications in Clinical Diagnosis and Increasing Disease Burden
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4.3 Market Restraints
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4.3.1 High Cost of Open MRI Systems
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4.4 Porter's Five Force Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Resolution
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5.1.1 Low- Field Scanner
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5.1.2 Mid-field Scanner
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5.1.3 High-Field Scanner
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5.2 By Application
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5.2.1 Neurology
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5.2.2 Gastroenterology
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5.2.3 Cardiology
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5.2.4 Oncology
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5.2.5 Others
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5.3 Geography
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5.3.1 North America
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5.3.1.1 United States
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5.3.1.2 Canada
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5.3.1.3 Mexico
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Mindray
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6.1.2 Hitachi Medical Corporation
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6.1.3 Philips Healthcare
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6.1.4 Siemens Healthcare
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6.1.5 ESAOTE SA
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6.1.6 Canon Medical Systems Corporation
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Open System MRI Industry Segmentation
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 | |||||
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North America Open System MRI Market Research FAQs
How big is the North America Open System MRI Market?
The North America Open System MRI Market size is expected to reach USD 552.83 million in 2023 and grow at a CAGR of 7.91% to reach USD 808.91 million by 2028.
What is the current North America Open System MRI Market size?
In 2023, the North America Open System MRI Market size is expected to reach USD 552.83 million.
Who are the key players in North America Open System MRI Market?
Hitachi Medical Corporation, Philips Healthcare, Siemens Healthcare, ESAOTE SA and Canon Medical Systems Corporation are the major companies operating in the North America Open System MRI Market.
North America Open System MRI Industry Report
Statistics for the 2023 North America Open System MRI market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America 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.
