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  5. > North America MRI Market - Growth, Trends And Forecasts (2015 - 2020)

The North America MRI Market has been estimated to be valued at USD 1.3 billion for the year 2015 and is projected to reach USD 1.54 billion by 2020 at a CAGR of 2.9% during the forecast period 2015 to 2020. Magnetic resonance imaging (MRI) is a medical imaging procedure used in radiology to determine the anatomy and physiology of the body in both healthy and the diseased. MRI system of diagnosis is replacing CT as it is more sensitive and safe since it does not use ionizing radiations.

The end users for healthcare analytics include Hospitals, Clinics, Biopharmaceutical companies and other healthcare providers. MRI is applied in the areas of neurology, gastroenterology, cardiology, oncology and others.

Increasing chronic disease incidences, rising geriatric population, increasing health awareness and rapid technological advances are few key major drivers of this market. However, lack of skilled professionals, high cost of MRI systems and shortage of helium used for MR systems are hindering the growth of the market.

The North American MRI Market in Healthcare can be segmented based on type, resolution and geographical regions. Based on the type, the market is further segmented into Straight/Upright, Open system and Closed system. The resolution segment is sub-segmented into Low-field MRI system, Mid-field MRI system and High-field MRI system. The open MRI system has a fast growing market as it is preferred over the currently common closed system as it alleviates claustrophobia.

Based on geography, the market is segmented into USA, Canada and Mexico. North America has the largest share of the MRI market. The per capita income in countries is high in countries such as USA and Canada, making health care facilities such as MRI more affordable. A large investment is being made by the governments on the healthcare industry.

Many players in this market are trying to expand their product portfolio in order to top the global market. While few companies are entering into the market by acquisitions, top companies are expanding their growth in this market by acquiring other companies. Few companies adopted product innovation and new product launches as its key business strategy to ensure its dominance in this market. Some of the key players in the North American MRI Market are GE, Hitachi Medical Corporation, Philips Healthcare, Siemens Healthcare and Toshiba Medical Systems.

Key Deliverables in the Study
1. Market analysis for the North American MRI Market, with region specific assessments and competition analysis on global and regional scales
2. Market definition along with the identification of key drivers and restraints
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
4. Extensively researched competitive landscape section with profiles of major companies along with their market shares
5. Identification and analysis of the macro and micro factors that affect the North American MRI Market on both global and regional scales
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
8. Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.

Table Of Contents

North America MRI Market - Growth, Trends And Forecasts (2015 - 2020)
Study Deliverables
Market Definition
Sizing Units
Base Currency
Review and Forecast Period Years
General Study Assumptions
Research Methodology
Analysis Methodology
Econometric Forecast Model
Research Assumptions
Executive Summary
Key Inferences
Market Overview and Industry Trends
Current Market Scenario
Applications of MRI systems
Technology Overview
New Developments
Industry Value-Chain Analysis
Product Life-Cycle Analysis
Product Benchmarking
Investment Analysis
Porter's Five Forces
Bargaining Power of Suppliers
Bargaining Power of Consumers
Threat of New Entrants
Threat of Substitute Products and Services
Competitive Rivalry within the Industry
Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
Market Drivers
Increasing chronic disease incidences
Rising geriatric population
Increasing health awareness
Rapid technological advances
Market Restraints
Lack of skilled professionals
High cost of MRI systems
Shortage of helium used for MR systems
Key Challenges
Current Opportunities in the Market
Market Segmentation
By Resolution
Low-field MRI system
Mid-field MRI system
High-field MRI system
By Type
Open system
Closed system
By Applications
By End-users
Biopharmaceutical companies
Other healthcare providers
By Geography
North America
Competitive Landscape
Merger and Acquisition Analysis
New Product Launches
Agreements, Collaborations and Partnerships
Company Profiles
GE Healthcare
Hitachi Medical Corporation
Philips Healthcare
Siemens Healthcare
Toshiba Medical Systems
Analyst Outlook for Investment Opportunities
Future Outlook of the Market

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