MRI Systems Market

The global magnetic resonance imaging (MRI) systems market is projected to reach USD 6.6 billion by 2028 from USD 5.2 billion in 2023, at a CAGR of 5.0% from 2023 to 2028. The rising prevalence of targeted diseases and increasing technological advancements fuel the market growth.

The MRI systems market is moderately competitive, with established companies and upcoming competitors for the same market share. As of 2022, the key players operating in the global MRI systems market are:

Major MRI Systems Market Companies include

• Siemens Healthineers (Germany),
• GE Healthcare (US),
• Koninklijke Philips N.V. (Netherlands),
• FUJIFILM Corporation (Japan),
• Canon Inc. (Japan) and many more....

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These competitors have utilized various strategies to increase their market share in the global MRI systems market, including acquisitions, agreements, partnerships, and product releases. In 2022, a higher share of the MRI systems market was held by Siemens Healthineers (Germany), GE Healthcare (US), Koninklijke Philips N.V. (Netherlands).

Siemens Healthineers (Germany):

Siemens is a leading player in the MRI systems market due to its robust imaging product portfolio. The company has major R&D facilities in Germany, the US, China, and India. The company offers a wide range of products and services in point-of-care diagnostics, laboratory testing, diagnostics and therapeutic screening, and molecular medicine.

The company has a broad geographic footprint with a direct presence in more than 70 countries across Europe, the Americas, Asia, Oceania, Africa, and the Middle East. The company's main manufacturing sites are in the US, Germany, and China. The company invests in R&D activities to launch innovative and technologically advanced products. The company has major R&D facilities in Germany, the US, China, and India It offers products in more than 180 countries through distributors and sales channels.

GE Healthcare (US):

GE Healthcare is headquartered in Illinois, US. The company offers a robust product portfolio in medical imaging & information technologies, medical diagnostics, disease research, biopharmaceutical manufacturing, drug discovery, and technologies. Its medical diagnostics and medical imaging portfolio includes various diagnostic solutions such as molecular imaging, ultrasound, and magnetic resonance imaging technologies.

GE HealthCare has a wide geographic presence in more than 140 countries across North America, South America, Europe, the Middle East, the Asia Pacific, and Africa. The company has adopted inorganic growth strategies such as acquisitions to strengthen its market position.

Koninklijke Philips N.V. (Netherlands)

Philips is one of the leaders in magnetic resonance imaging, patient monitoring, image-guided therapy, and health informatics. Philips offers diagnostic imaging, image-guided therapy, and ultrasound solutions through the Diagnosis & Treatment segment. As part of its strategy, Philips focuses on product launches and collaborations to increase its market share. The company mainly pursues inorganic growth strategies such as agreements and partnerships to establish a strong foothold in the imaging market. It has also invested strongly in R&D for product development.

Philips has a worldwide geographic presence, with 93 production sites in 25 countries and a sales and services network spread across over 100 countries. Some of its key subsidiaries are Philips Medical Systems (Belgium), and Philips Electronics India Limited (India), among others.

Major MRI Systems Market manufacturers include

• Philips Healthcare (Netherlands),
• Canon Medical Systems Corporation (Japan),
• Hitachi Medical Systems (Japan) and many more....

These major manufacturers in the MRI systems market are headquartered in different countries and collectively drive innovation, research, and development in medical imaging on a global scale.

Philips Healthcare (Netherlands):

• Product Portfolio: Offers a range of MRI systems, including Ingenia Ambition, Ingenia Elition, and Ingenia Prodiva, featuring high-quality imaging and patient-centric design.
• Market Presence: Philips Healthcare is a major player in the medical imaging market, with a global presence and strong customer base across regions.
• Technological Advancements: Invests in innovations such as dStream digital broadband technology, which enhances signal quality and accelerates MRI examinations.
• Partnerships: Collaborates with academic institutions and industry partners to advance MRI technology and develop new clinical applications.
• Market Share: Holds a significant share in the global MRI systems market, particularly in mid-field and high-field systems.

Canon Medical Systems Corporation (Japan):

• Product Portfolio: Offers a range of MRI systems, including Vantage Galan 3T and Vantage Orian 1.5T, featuring advanced imaging capabilities and patient comfort.
• Market Presence: Canon Medical Systems has a strong presence in the medical imaging market, with operations in North America, Europe, Asia-Pacific, and other regions.
• Technological Advancements: Focuses on innovations such as Pianissimo technology, which reduces acoustic noise during MRI examinations, enhancing patient comfort.
• Partnerships: Collaborates with healthcare providers and research institutions to develop new imaging techniques and applications.
• Market Share: Holds a significant share in the global MRI systems market, particularly in mid-field and high-field systems.

Hitachi Medical Systems (Japan):

• Product Portfolio: Offers a range of MRI systems, including Oasis, Echelon Oval, and AIRIS Vento, featuring high-performance imaging and efficient workflow.
• Market Presence: Hitachi Medical Systems is a prominent player in the medical imaging market, with a strong presence in Asia-Pacific, North America, and Europe.
• Technological Advancements: Invests in innovations such as EchoSpeed Plus technology, which enables faster imaging and reduces patient scan time.
• Partnerships: Collaborates with research institutions and industry partners to develop new MRI applications and improve imaging performance.
• Market Share: Holds a notable share in the global MRI systems market, particularly in mid-field and open MRI systems.

Related Reports:

MRI Systems Market by Architecture (Open, Closed), Field Strength (Low-to-mid (1.5T, 3T), High & ultra-high (>4T)), Application (Neuro, Spinal, Pelvic, Breast, Cardiology), Enduser, Unmet Need & Buying Criteria- Global Forecast to 2028

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