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The global Magnetic Resonance Imaging ( MRI ) systems market is forecast to exceed $4 billion by 2016 with a Compound Annual Growth Rate (CAGR) of 5% from 2009-2016. The market is expected to be driven by new clinical indications of MRI, especially in the areas of cardiology and neurology, along with technological advancement and upgradation of MRI devices. The increasing use of MRI in detecting diseases in their early stages, such as multiple sclerosis and breast cancer, is also a key driver of the MRI systems market. In addition, Diffusion MRI is now the preferred method, rather than Computed Tomography ( CT ) for the diagnosis of stroke.

The emerging economies, such as Brazil, India and China will also play a significant role in driving the demand for MRI systems in the near future. With these economies witnessing significant economic growth, their respective governments are attempting to improve their healthcare infrastructure. Healthcare is emerging as a prime focus of these economies and healthcare spending, both at the private and public levels, is expected to double over the next seven years.

In the developed countries, the MRI systems market is approaching saturation level with the focus now shifting towards developing new technologies which will improve the efficiency and save costs for hospitals and diagnostic imaging facilities.

The global high field MRI systems market was valued at $ 0.9 billion in 2009 and is forecast to reach $1.7 billion in 2016 with a CAGR of 9%. It is those MRI systems which are greater than or equal to 3 Tesla in field strength that are included in this segment. High field MRI system was introduced in the US in 2002 and since then has gained immense popularity amongst radiologists and healthcare providers. The main advantage of a high field MRI system is the increase in noise to signal ratio as well as the high spectral resolution. High field MRI systems can be used to improve the temporal resolution and thereby increasing the image quality and reducing scan time. A high field MR system is primarily used to examine the smaller parts of the body. The high field MRI systems are increasingly being adopted by radiologists due to advantages such as faster scan times and enhanced image quality.

GlobalData’s new report, “ Magnetic Resonance Imaging ( MRI ) Systems - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016” provides key data, information and analysis on the global MRI systems market. The report provides market landscape, competitive landscape and market trends information the MRI systems market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.

Source: GlobalData

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