Global Magnetic Resonance Imaging (MRI) Market: Advanced Technologies and Global Forecast (2011 - 2016)

Date: October 1, 2011
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Report type: Strategic Report
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Global Magnetic Resonance Imaging (MRI) Market: Advanced Technologies and Global Forecast (2011 - 2016)
The global MRI systems market is being boosted by technological advancements and the increasing number of MRI applications such as identification of multiple sclerosis. The global MRI market is expected to grow from $4,000 million in 2011 to $4,760 million in 2016, at an estimated CAGR of 3.55% from 2011 to 2016. Closed MRI systems commanded the largest share within the MRI market, mainly due to the high clinical value delivered by the systems.

MRI software is required to increase the quality of the MRI image obtained. It helps in plane adjustment, also provides functional MRI images. All the major players such as, GE Healthcare, Siemens, and Philip Healthcare are actively involved in developing software for MRI. There are institutes such as Massachusetts General Hospital; which are also actively involved in MRI software.

The major restraint for MRI market is that MRI equipment involves high installation and maintenance costs. For instance, the systems require radio frequency (RF) shielding, and helium used for cooling the MRI coils also requires replacement every three years, which increases the maintenance cost of MRI equipment. The major factor driving the MRI market from demand side is the growing population in developing nations and the increase in aging population in developed countries.

MRI market has an opportunity to grow in the developing market such as Brazil, Russia, India, and China. With rising focus on healthcare, there is an increasing expenditure on capital equipments. Moreover, with the advent of colored MRI market, identification of cancerous cells is also possible. MRI is also likely to replace Computed Tomography (CT) for coronary angiography.

MR angiography holds the largest market in MRI market by technology. MR angiography is a technique used for imaging of blood vessels and internal organs through magnetic resonance. The technique’s general applications include phase-contrast angiography and time-of-flight angiography. Functional MRI has the second largest share; it is used to map brain areas and to analyze changes in the brain’s blood flow as a response to stimulus. A 1.5T MRI system is generally employed for this purpose. Functional MRI is also being explored for lie detection.

The global market for MRI is highly consolidated with majority of the market being held by a few major players. GE Healthcare (U.K.), Philips (The Netherlands), and Siemens (Germany) together constitute most of the market with Siemens being the market leader. There is an increasing presence of Japanese players such as Toshiba (Japan) and Hitachi (Japan).

Scope of the report

Global MRI Market research report evaluates the global market of Magnetic Resonance Imaging by architecture, by field strength, by technology market, by application and by geography. The report analyzes geography; forecasting revenues, and trends in each of the following submarkets:

The segments covered under the report are
  • By architecture
    • Closed MRI
    • Open MRI
  • By field Strength
    • Low field strength MRI
    • Mid field strength MRI
    • High field strength MRI
  • By Technology
    • MR angiogram
    • MR venogram
    • Functional MRI
    • NMR Spectroscopy
    • Others
  • By Application
    • Whole Body MRI
    • Interventional MRI
    • MRI for Brain and Neurological disorder
    • Breast MRI
    • Cardiac MRI
    • Others
  • By geography
    • North America
    • Europe
    • Asia
    • ROW
Each section provides market data, market drivers, trends and opportunities, top-selling products, key players, and competitive outlook. This report also provides market tables for covering the sub-segments and micro-markets. In addition, it makes ways for company profiles that cover all the sub-segments. As such, the report leaves no stone unturned in apprising about the past, present, and future of global diagnostic imaging market.
1 EXECUTIVE SUMMARY

MARKET OVERVIEW
MRI SYSTEMS MARKET
COMPETITIVE LANDSCAPE
GEOGRAPHIC ANALYSIS

1 INTRODUCTION

1.1 KEY TAKE AWAYS
1.2 REPORT DESCRIPTION
1.3 MARKETS COVERED
1.4 STAKEHOLDERS
1.5 RESEARCH METHODOLOGY

2 SUMMARY

3 MRI MARKET OVERVIEW

3.1 GLOBAL MRI BUSINESS PROCESS
3.2 TREND ANALYSIS: PRICING & INSTALLATION
3.3 MRI SOFTWARE
3.4 DRIVING FACTOR ANALYSIS
  3.4.1 DEMAND-SIDE DRIVERS
  3.4.2 SUPPLY-SIDE DRIVERS
  3.4.3 RESTRAINTS
  3.4.4 OPPORTUNITIES
  3.4.5 KEY COMPETITIVE POINTS
3.5 PATENT ANALYSIS
  3.5.1 PATENT ANALYSIS BY GEOGRAPHY
  3.5.2 Y-O-Y PATENT ANALYSIS
  3.5.3 PATENT ANALYSIS BY ASSIGNEE

4 MRI SYSTEMS MARKET

4.1 MRI SYSTEMS MARKET, BY MAGNET TYPE
  4.1.1 PERMANENT MAGNET MRI
  4.1.2 RESISTIVE MAGNET MRI
  4.1.3 SUPERCONDUCTOR MAGNET MRI
  4.1.4 CLOSED MRI SYSTEMS
    4.1.4.1 Drivers & Opportunities
      4.1.4.1.1 High image quality
      4.1.4.1.2 Wide-bore systems to scan obese patients
  4.1.5 OPEN MRI SYSTEMS
    4.1.5.1 Drivers & Opportunities
      4.1.5.1.1 Cheaper than closed MRI
      4.1.5.1.2 Improvement in field strength
      4.1.5.1.3 Dedicated systems for specific applications
4.2 MRI SYSTEMS MARKET, BY FIELD STRENGTH
  4.2.1 LOW- TO MID-FIELD MRI
  4.2.2 HIGH-FIELD MRI SYSTEMS
  4.2.3 VERY HIGH-FIELD MRI SYSTEMS
4.3 MRI SYSTEMS MARKET, BY TECHNOLOGY
  4.3.1 MR ANGIOGRAPHY (MRA)
  4.3.2 MR VENOGRAM (MRV)
  4.3.3 FUNCTIONAL MRI
  4.3.4 NMR SPECTROSCOPY
  4.3.5 OTHER TECHNOLOGIES
4.4 MRI SYSTEMS MARKET, BY APPLICATIONS
  4.4.1 WHOLE-BODY MRI
  4.4.2 INTERVENTIONAL MRI
  4.4.3 MRI FOR BRAIN & NEUROLOGY DISORDERS
  4.4.4 BREAST MRI
  4.4.5 CARDIAC MRI
  4.4.6 OTHERS

5 GEOGRAPHIC ANALYSIS

5.1 NORTH AMERICAN MRI MARKET
  5.1.1 BURNING ISSUE: IMPACT OF DEFICIT REDUCTION ACT
5.2 EUROPEAN MRI MARKET
  5.2.1 BURNING ISSUE: NEED FOR CLARITY IN EC DIRECTIVES
5.3 ASIAN MRI MARKET
  5.3.1 BURNING ISSUE: INCREASE IN MEDICAL TOURISM & GOVERNMENT SPENDING
5.4 ROW MRI MARKET

6 COMPETITIVE LANDSCAPE

7 COMPANY PROFILES

7.1 ANALOGIC CORPORATION
  7.1.1 OVERVIEW
  7.1.2 FINANCIALS
  7.1.3 PRODUCTS & SERVICES
  7.1.4 STRATEGY
  7.1.5 DEVELOPMENTS
7.2 AURORA IMAGING TECHNOLOGY INC.
  7.2.1 OVERVIEW
  7.2.2 PRODUCTS & SERVICES
  7.2.3 STRATEGY
  7.2.4 DEVELOPMENTS
7.3 BRUKER BIOSPIN GMBH
  7.3.1 OVERVIEW
  7.3.2 FINANCIALS
  7.3.3 PRODUCTS & SERVICES
  7.3.4 STRATEGY
  7.3.5 DEVELOPMENTS
7.4 ESAOTE S.P.A.
  7.4.1 OVERVIEW
  7.4.2 FINANCIALS
  7.4.3 PRODUCTS & SERVICES
  7.4.4 STRATEGY
  7.4.5 DEVELOPMENTS
7.5 FONAR CORPORATION
  7.5.1 OVERVIEW
  7.5.2 FINANCIALS
  7.5.3 PRODUCTS & SERVICES
  7.5.4 STRATEGY
  7.5.5 DEVELOPMENTS
7.6 GE HEALTHCARE
  7.6.1 OVERVIEW
  7.6.2 FINANCIALS
  7.6.3 PRODUCTS & SERVICES
  7.6.4 STRATEGY
  7.6.5 DEVELOPMENTS
7.7 HITACHI MEDICAL CORPORATION
  7.7.1 OVERVIEW
  7.7.2 FINANCIALS
  7.7.3 PRODUCTS & SERVICES
  7.7.4 STRATEGY
  7.7.5 DEVELOPMENTS
7.8 IMRIS INC.
  7.8.1 OVERVIEW
  7.8.2 FINANCIALS
  7.8.3 PRODUCTS & SERVICES
  7.8.4 STRATEGY
  7.8.5 DEVELOPMENTS
7.9 MEDTRONIC SURGICAL NAVIGATION TECHNOLOGIES
  7.9.1 OVERVIEW
  7.9.2 FINANCIALS
  7.9.3 PRODUCTS & SERVICES
  7.9.4 STRATEGY
  7.9.5 DEVELOPMENTS
7.10 PHILIPS HEALTHCARE
  7.10.1 OVERVIEW
  7.10.2 FINANCIALS
  7.10.3 PRODUCTS & SERVICES
  7.10.4 STRATEGY
  7.10.5 DEVELOPMENTS
7.11 SHENZHEN BASDA MEDICAL APPARATUS CO. LTD.
  7.11.1 OVERVIEW
  7.11.2 FINANCIALS
  7.11.3 PRODUCTS & SERVICES
  7.11.4 STRATEGY
  7.11.5 DEVELOPMENTS
7.12 SIEMENS HEALTHCARE
  7.12.1 OVERVIEW
  7.12.2 PRODUCTS & SERVICES
  7.12.3 STRATEGY
  7.12.4 DEVELOPMENTS
7.13 TOSHIBA MEDICAL SYSTEMS CORP
  7.13.1 OVERVIEW
  7.13.2 PRODUCTS & SERVICES
  7.13.3 STRATEGY
  7.13.4 DEVELOPMENTS
7.14 INSIGHTEC LTD
  7.14.1 OVERVIEW
  7.14.2 FINANCIALS
  7.14.3 PRODUCTS & SERVICES
  7.14.4 STRATEGY
  7.14.5 DEVELOPMENTS
7.15 OTHERS
  7.15.1 BEIJING WANDONG MEDICAL EQUIPMENT CO. LTD
    7.15.1.1 Overview
    7.15.1.2 Products & Services
    7.15.1.3 Strategy
  7.15.2 MEDINUS CO. LTD
    7.15.2.1 Overview
  7.15.3 MR INSTRUMENTS INC. (MRII)
    7.15.3.1 Overview
  7.15.4 NORAS MRI PRODUCTS GMBH
    7.15.4.1 Overview
  7.15.5 XI'AN LANDCOM DIGITAL MEDICAL SCIENCE & TECHNOLOGY CO. LTD
    7.15.5.1 Overview
  7.15.6 XINAOMDT TECHNOLOGY CO. LTD
    7.15.6.1 Overview
    7.15.6.2 Products & Services

APPENDIX

U.S. PATENTS
EUROPE PATENTS
JAPAN PATENTS

LIST OF TABLES

TABLE 1 GLOBAL MRI SYSTEMS MARKET REVENUE, BY PRODUCTS, 2009 – 2016 ($BILLION)
TABLE 2 GLOBAL MRI SYSTEMS MARKET INSTALLATIONS, BY PRODUCTS, 2009 – 2016 (NO. OF UNITS)
TABLE 3 RECENT DEVELOPMENTS IN MRI SOFTWARE
TABLE 4 KEY PLAYERS & STRATEGIES
TABLE 5 CLOSED MRI SYSTEMS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 6 CLOSED MRI SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 7 OPEN MRI SYSTEMS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 8 OPEN MRI SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 9 GLOBAL MRI SYSTEMS MARKET REVENUE (FIELD STRENGTH), BY PRODUCTS, 2009 – 2016 ($MILLION)
TABLE 10 GLOBAL MRI SYSTEMS MARKET INSTALLATIONS (FIELD STRENGTH), BY PRODUCTS, 2009 – 2016 (NO. OF UNITS)
TABLE 11 MRI SYSTEMS MARKET REVENUE (FIELD STRENGTH), BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 12 MRI SYSTEMS MARKET INSTALLATIONS (FIELD STRENGTH), BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 13 LOW- TO MID-FIELD MRI SYSTEMS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 14 LOW- TO MID-FIELD MRI SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 15 HIGH-FIELD MRI SYSTEMS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 16 HIGH-FIELD MRI SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 17 VERY HIGH-FIELD MRI SYSTEMS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 18 VERY HIGH-FIELD MRI SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 19 GLOBAL MRI SYSTEMS MARKET REVENUE (BASED ON TECHNOLOGY), BY PRODUCTS, 2009 – 2016 ($MILLION)
TABLE 20 GLOBAL MRI SYSTEMS MARKET INSTALLATIONS (BASED ON TECHNOLOGY), BY PRODUCTS, 2009 – 2016 (NO. OF UNITS)
TABLE 21 MRI SYSTEMS MARKET REVENUE (BASED ON TECHNOLOGIES), BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 22 MRI SYSTEMS MARKET INSTALLATIONS (BASED ON TECHNOLOGIES), BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 23 MR ANGIOGRAM SYSTEMS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 24 MR ANGIOGRAM SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 25 MR VENOGRAM MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 26 MR VENOGRAM SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 27 FUNCTIONAL MRI SYSTEMS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 28 FUNCTIONAL MRI SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 29 NMR SPECTROSCOPY SYSTEMS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 30 NMR SPECTROSCOPY SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 31 OTHER MRI TECHNOLOGY SYSTEMS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 32 OTHER MRI TECHNOLOGY SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 33 GLOBAL MRI SYSTEMS MARKET REVENUE, BY APPLICATIONS, 2009 – 2016 ($MILLION)
TABLE 34 GLOBAL MRI SYSTEMS MARKET INSTALLATIONS, BY APPLICATIONS, 2009 – 2016 (NO. OF UNITS)
TABLE 35 MRI SYSTEMS MARKET REVENUES BASED ON APPLICATIONS, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 36 MRI SYSTEMS MARKET INSTALLATIONS (BASED ON APPLICATIONS), BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 37 WHOLE-BODY MRI SYSTEMS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 38 WHOLE-BODY MRI SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 39 INTERVENTIONAL MRI SYSTEMS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 40 INTERVENTIONAL MRI SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 41 BRAIN & NEUROLOGY MRI SYSTEMS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 42 BRAIN & NEUROLOGY MRI SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 43 BREAST MRI SYSTEMS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 44 BREAST MRI SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 45 CARDIAC MRI SYSTEMS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 46 CARDIAC MRI SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 47 OTHER MRI SYSTEMS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 48 OTHER MRI SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 49 MRI SYSTEMS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2016 ($MILLION)
TABLE 50 MRI SYSTEMS MARKET INSTALLATIONS, BY GEOGRAPHY, 2009 – 2016 (NO. OF UNITS)
TABLE 51 NORTH AMERICA: MRI SYSTEMS MARKET REVENUE, BY PRODUCTS, 2009 – 2016 ($MILLION)
TABLE 52 NORTH AMERICA: MRI SYSTEMS MARKET INSTALLATIONS, BY PRODUCTS, 2009 – 2016 (NO. OF UNITS)
TABLE 53 EUROPE: MRI SYSTEMS MARKET REVENUE, BY PRODUCTS, 2009 – 2016 ($MILLIONS)
TABLE 54 EUROPEA: MRI SYSTEMS MARKET INSTALLATIONS, BY PRODUCTS, 2009 – 2016 (NO. OF UNITS)
TABLE 55 ASIA: MRI SYSTEMS MARKET REVENUE, BY PRODUCTS, 2009 – 2016 ($MILLION)
TABLE 56 ASIA: MRI SYSTEMS MARKET INSTALLATIONS, BY PRODUCT, 2009 – 2016 (NO. OF UNITS)
TABLE 57 ROW: MRI SYSTEMS MARKET REVENUE, BY PRODUCTS, 2009 – 2016 ($MILLION)
TABLE 58 ROW: MRI SYSTEMS MARKET INSTALLATIONS, BY PRODUCTS, 2009 – 2016 (NO. OF UNITS)
TABLE 59 PRODUCT LAUNCHES, 2008 – 2011
TABLE 60 AGREEMENTS, COLLABORATIONS, & MERGERS & ACQUISITIONS, 2008 – 2010
TABLE 61 OTHER DEVELOPEMNTS, 2009 – 2011
TABLE 62 ANALOGIC: TOTAL REVENUE & R&D EXPENSES, 2008 – 2010 ($MILLION)
TABLE 63 ANALOGIC: TOTAL MEDIACL TECHNOLOGY REVENUE, BY SEGMENTS, 2008 – 2010 ($MILLION)
TABLE 64 ANALOGIC: TOTAL REVENUE, BY COUNTRY, 2008 – 2010 ($MILLION)
TABLE 65 BRUCKER BIOSPIN: TOTAL REVENUE & R&D EXPENSES, 2008 – 2010 ($MILLION)
TABLE 66 BRUCKER BIOSPIN: TOTAL REVENUE, BY GEOGRAPHIC REVENUES ($MILLION)
TABLE 67 GE HEALTHCARE: TOTAL REVENUE & R&D EXPENSES, 2008 - 2010 ($BILLION)
TABLE 68 GE HEALTHCARE: TOTAL REVENUE, BY GEOGRAPHY, 2008 – 2010 ($BILLION)
TABLE 69 GE HEALTHCARE: MARKET REVENUE, BY BUSINESS SEGMENTS, 2008 – 2010 ($BILLION)
TABLE 70 HITACHI: TOTAL REVENUE & R&D EXPENSES, 2008 – 2010 ($MILLION)
TABLE 71 HITACHI: TOTAL SALES, BY GEOGRAPHY, 2008 – 2010 ($MILLION)
TABLE 72 IMRIS: TOTAL REVENUE AND R&D EXPENSES, 2008 – 2010 ($MILLION)
TABLE 73 MEDTRONICS: TOTAL REVENUE AND R&D EXPENSES, 2008 – 2010 ($MILLION)
TABLE 74 MEDTRONICS: TOTAL REVENUE, BY GEOGRAPHY, 2008 – 2010 ($MILLION).
TABLE 75 PHILIPS HEALTHCARE: REVENUE & R&D EXPENSES, 2008 – 2010 ($BILLION)
TABLE 76 PHILIPS HEALTHCARE: SALES, BY GEOGRAPHY, 2008 – 2010 ($BILLION)

LIST OF FIGURES

FIGURE 1 MRI MARKET SEGMENTATION
FIGURE 2 MRI BUSINESS PROCESS
FIGURE 3 MRI PRICING TREND
FIGURE 4 MRI INSTALLATIONS (2009 – 2016)
FIGURE 5 FACTORS INFLUENCING MRI MARKET GROWTH
FIGURE 6 INDICATIVE SHARE OF GLOBAL MRI PATENTS
FIGURE 7 GLOBAL MRI PATENTS (JANUARY 2005 – JULY 2009)
FIGURE 8 PATENT SHARE BY ASSIGNEE (JANUARY 2005 – JUNE 2010)
FIGURE 9 COMPETITIVE ANALYSIS
FIGURE 10 MAJOR PLAYERS USING DIFFERENT STRATEGIES TO GROW, 2009
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