Global Magnetic Resonance Imaging (MRI) Equipment Industry

  • November 2013
  • -
  • Global Industry Analysts
  • -
  • 396 pages

This report analyzes the worldwide markets for Magnetic Resonance Imaging (MRI) Equipment in Units and US$ Million by the following Product Segments:
Closed MRI Systems,
and Open MRI Systems.

The US Market for MRI Equipment is separately analyzed by the following segments, categorized by magnetic field strength:
Low & Mid-Field Systems,
High Field Systems,
and Very High-Field Systems.

The report provides separate comprehensive analytics for the
US,
Canada,
Japan,
Europe,
Asia-Pacific,
Latin America,
and Rest of World.

Annual estimates and forecasts are provided for the period 2010 through 2018. Also, a six-year historic analysis is provided for these markets. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based on public domain information including company URLs.

The report profiles 42 companies including many key and niche players such as -
China Resources Wandong Medical Equipment Co., Ltd.
Esaote SPA
FONAR Corporation
GE Healthcare
Hitachi Medical Corporation
IMRIS, Inc.

Table Of Contents




I. INTRODUCTION, METHODOLOGY and PRODUCT DEFINITIONS
Study Reliability and Reporting Limitations I-1
Disclaimers I-2
Data Interpretation and Reporting Level I-2
Quantitative Techniques and Analytics I-3
Product Definitions and Scope of Study I-3
Closed MRI Systems I-3
Open MRI Systems I-3
Low and Mid-Field Systems I-4
High Field Systems I-4
Very-High Field Systems I-4


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW II-1
Prelude II-1
Current and Future Analysis II-2
MRI Establishes Superiority over Other Imaging Techniques II-2
Major Advantages or MRI II-3
Clinical Applications of MRI II-3
Table 1: Global MRI Usage by Application Area (2012)
(includes corresponding Graph/Chart) II-4
Medical Imaging Industry under the Impact of Economic Downturn II-4
MRI - The Most Affected Modality in Medical Imaging during
Recession II-5
Economic Crisis and MRI Market in BRIC Countries II-6
Open MRI - Continues to Make Rapid Strides II-6
Technological Advancements Boost MRI Market II-7
MRI Advancements in Brain Imaging II-7
Automated Scanning Technology - A Boon for Patients II-8
Dedicated MRI Systems - Offering High Imaging Quality at
Affordable Prices II-8
Whole-Body and Black Blood Systems: Improving Diagnostic
Abilities II-8
Improved Imaging Techniques II-8
Will High Field Systems Replace Standard Field Systems in
Foreseeable Future? II-8
Competitive Scenario II-10
Table 2: Leading Players in the Global MRI Equipment Market
(2012): Percentage Breakdown of Value Sales for Siemens
Healthcare, GE Healthcare, Philips Healthcare, Toshiba
Medical, Hitachi Medical Corporation and Others (includes
corresponding Graph/Chart) II-10

2. MARKET TRENDS/ISSUES II-11
Opportunities Galore for MRI market in Developing Economies II-11
Clinical Acceptance of MRI Systems on Rise II-11
Functional MRI - The Superior Technique II-12
Growing Impact of MRI in Neurology Applications II-12
Customer Satisfaction Riding the Increased Penetration of MRI II-12
Extremity MRI Systems - Emerges as a Low Cost Solution II-13
Virtual PET/MRI System - High Potential II-13
Ultrasound and MRI Imaging: An Efficient Combination II-13
Scanning Extends to Facilities Other Than Hospitals II-13
Targeted MRI - Developing Technology II-14
Growing Popularity of 3T Scanners II-14
Development of New Procedures Driving Growth in the MRI Market II-14
Dot - The Next Best Thing in MRI II-15
Shift in MRI Equipment Purchasing Patterns II-15
Increase in number of Private Hospitals and Clinics Drive MRI
Market II-15
Manufacturers Focus on Offering Custom-made Equipment II-16
Helium Gas - Growing Cause of Concern II-16
Gadolinium - Causing Fatal Conditions II-17
Reimbursement Issues Threaten Future Growth of MR Imaging Market II-17
Refurbished MRI Equipment - Posing Threat to New Equipment Market II-17
Table 3: Global Refurbished Diagnostic Devices Market by
Product Category (2012): Percentage Breakdown of Value Sales
for CT, MRI, Ultrasound, X-rays and Others (includes
corresponding Graph/Chart) II-17
High Equipment Cost Limits Increased Uptake II-18
Factors Affecting Penetration of MRI Equipment II-18

3. MRI EQUIPMENT: PRODUCT OVERVIEW II-19
Evolution of MRI II-19
Specialized MRI Equipment for Operational Efficiency II-20
MRI for Operating Room II-20
Functioning of MRI Equipment II-20
MRI Equipment Types II-21
Whole Body Scanners/Closed MRI Systems II-21
Whole-body II-21
Very High-Field Whole-Body Scanners II-21
Open MRI Systems II-22
Merits of Open system II-22
Open System Vs. Whole-body system II-23
Dedicated MRI II-23
MRI Equipment Classification based on Magnetic Strength II-23
Advantages of High Field Strength Magnets Over Low Field
Strength Magnets II-24
MRI Magnet: Key Component of MRI System II-25
Impact of New Magnet Technology on MRI System II-25
Magnetic Field Gradient: Vital Component of Magnetic
Resonance Imaging System II-25
Specialized RF Coils II-26
Open Magnetic Resonance Imaging Systems II-26
Advantages of Open MRI Systems II-26
Table 4: Select Mid, High Field Open Systems II-26
Table 5: Select Low Field Open Systems II-27

4. UTILITIES OF MRI EQUIPMENT II-28
Advantages of MRI Systems II-28
Safety Aspects II-28
Associated Costs II-28
New Areas of Application II-29
MRI Portrays Anatomy of the Prospective Kidney Donor Accurately II-29
Detection of Re-Narrowed Heart Arteries II-29
Injection of Corticosteroid Directly into the Sacroiliac
Joints (SIJ) II-29
Breast MRI Gaining Popularity as a Diagnostic Tool II-29
Destruction of Fibroid Tumors of the Uterus II-30
Early Stage Detection of Alzheimer's II-30
Functional MRI II-30
fMRI in Clinical Settings II-30
Challenges to fMRI II-31

5. VERY HIGH FIELD SYSTEMS - REDEFINING EFFICIENCY II-32
3T Scanner Changes Imaging Landscape II-32
Promising Areas of 3T Scanners II-32
1.5T Systems Bow to the New 3T Scanners II-33
3T Systems on the Roll Out II-33
7.0 Tesla II-34
Capabilities of 7T II-34
Concerns over Use of 7T II-35
9.4 Tesla- The Next On Roll II-35

6. COMPETITIVE IMAGING TECHNOLOGIES II-36
X-Ray II-36
Ultrasound II-36
Computed Tomography (CT) System II-36
Spiral CT II-37
PET and SPECT II-37
Nuclear Medicine II-37
MRI Compared with Other Imaging Options II-38
Technical Performance II-38
Safety II-38
Comparison of MRI Against Other Imaging Modalities II-38
Clinical Usefulness, Costs, and Availability II-39
Therapeutic Capabilities II-39
Contra-indications for MRI scanning II-39

7. PRODUCT INTRODUCTIONS/APPROVALS II-40
Royal Philips Electronics Unveils Innovative Clinical
Functionalities in MRI II-40
Aspect Imaging Introduces Compact M-Series MRI Systems II-40
St. Jude Medical Introduces Accent MRI Pacemaker II-40
MILabs and RS2D Unveil Modular SPECT/PET/CT/ MRI Solutions II-41
GE Healthcare Launches Mavric SL MRI Technology II-41
Aspect Imaging Introduces M-series Range of Compact MRI Systems II-42
Esaote Group Unveils Next Generation Ultrasound and Dedicated
MRI Technologies II-42
ISOL Technology Launches 1.5T MRI CHORUS System II-43
Medtronic Introduces Advisa DR MRI SureScan Pacing System II-43
Siemens Healthcare to Launch MAGNETOM Prisma MRI System II-43
GE Healthcare Unveils Optima MR360 Advance Digital Broadband
MRI System II-44
GE Healthcare Launches MR VesselIQ Xpress and CardiacVX
Cardiovascular MRI Analysis Software II-44
Medtronic Unveils RestoreSensor® SureScan® MRI
Neurostimulation Systems for Chronic Pain II-45
Toshiba America Medical Systems to Introduce Vantage Titanâ„¢ 3T
MR System II-45
GE Healthcare Japan to Expand MRI Devices Portfolio II-46
Philips Rolls Out Achieva 1.5T XR MRI Scanner II-46
Medtronic Introduces Advisa DR MRI SureScan Pacing System II-46
Mediso Medical Imaging Systems Launches Advanced nanoScan®
Four Modality Pre-clinical Imaging Platform II-47
IRadimed Introduces iMAGOX 2460 Nonmagnetic MRI Compatible
SpO2 Monitor II-47
Sanrad Medical Systems Introduces Innovative 1.5T
Superconducting MRI Equipment II-47
MR Solutions Unveils New High-Performance 3T MRI Scanners II-48
Agilent Technologies Launches nScope eMRI Preclinical Imaging
System II-48
Baotou Xibao Bowei Medical System to Develop High-Performance
Rare Earth Permanent Magnet MRI System II-48
Newmatic Medical Unveils MRI-Conditional LabWall II-48
Esaote Launches Advanced G-Scan Brio Weight- Bearing MRI System II-48
General Electric Introduces Quieter MRI Technology II-49
McLeod Dillon Launches Open MRI System of GE Ovation II-49
GE Healthcare Expands Caring Magnetic Resonance Suites II-49
GE Healthcare Launches Brivo MR355 Inspire and Optima MR360
Advance Systems II-50
Siemens Introduces Magnetom Prisma MRI Scanner II-50
Siemens Healthcare Introduces Magnetom Spectra Magnetic
Resonance Imaging System II-50
Toshiba America Medical Systems Introduces Vantage Titanâ„¢ 1.5T
MR Series II-51
Toshiba America Medical Systems Unveils Vantage Titanâ„¢ MR
Product Line II-51
Bruker Launches BioSpec® 150/11 MRI System II-52
GE Healthcare Launches Magnetic Resonance Patient Experience
Array II-52
Toshiba Unveils Vantage Titanâ„¢ 3T MR System II-52
Toshiba America Medical Systems Introduces 16-Channel Flexible
Coil System II-53
Toshiba America Medical Systems Unveils reNEWâ„¢ Upgrade Program II-53
Siemens Healthcare Obtains 510(k) Clearance from FDA for
Biograph mMR II-53
Toshiba America Medical Systems Obtains FDA Approval for
Vantage Titanâ„¢ 3T Open Bore MR System II-54
St. Jude Medical Obtains European CE Mark Clearance for Accent
MRIâ„¢ Pacemaker and Tendril MRIâ„¢ Lead II-54
GE Healthcare Secures FDA Approval for GEM Surface Coil Suite II-55
GE Healthcare Receives FDA Approval for High-Quality MR Systems II-55
Siemens Healthcare Obtains CE Mark for Biograph mMR System II-55
Philips Introduces Ingenia MRI Equipment II-56
Siemens Unveils Biograph mMR II-56

8. RECENT INDUSTRY ACTIVITY II-57
Rangatira Takes Over Minority Stake in Magritek II-57
Neusoft to Take Over Stake in Philips and Neusoft Medical
Systems from Philips II-57
IRadimed Secures Contract from HealthTrust Purchasing Group
for MRidiumâ„¢ MRI Infusion Pump Systems II-57
PinnacleHealth Deploys Vantage Titanâ„¢ 3T Solution of Toshiba
America Medical Systems II-58
MRI Interventions and IMRIS Integrate ClearPoint® Neuro
Intervention System and Intraoperative MRI II-58
Horizon CSA Inks Exclusive Vendor Supplier Agreement with Cool
Pair Plus II-59
Neusoft Medical Systems Acquires Majority Stake in Philips and
Neusoft Medical Systems II-59
Bellin Health System Takes Over NEWisconsin MRI Center II-59
Schiller India and Paramed Medical Systems Enter into
Collaboration for Standing MRI II-59
FONAR Acquires Business Managing Stand-Up® MRI centers and
Scanning Centers II-59
Toshiba Medical Systems Establishes New Subsidiary in South Korea II-59
Toshiba Medical Systems Acquires Majority Interest in TMST II-60
Aspect Imaging Extends Cooperation with Bruker Corporation for
Iconâ„¢ MRI Scanner II-60
Esaote Group Expands Commercial Presence outside Europe II-60
Diagnostic Imaging Services Installs 3T MRI System II-60
Shands at the University of Florida Purchases Vantage Titanâ„¢
3T MR Systems of Toshiba America Medical Systems II-61
American Medical Imaging to Setup Imaging Center with High-
Field Performance Open MRI II-61
SCI Logistics Takes Over White Glove Transportation Systems II-61
Nexus Systems Enters into Partnership with MRI Software II-61
Manchester United and Toshiba Medical Systems Enter into
Partnership II-62
Imricor Medical Systems and Cyberonics Ink Agreement II-62
Siemens Healthcare and Varian Medical Systems Ink Agreement II-62
Tranzbyte Inks Preliminary Agreement with Hurricane Enterprises II-63
The Sint Maartenskliniek Enters into Managed Services
Agreement with Royal Philips Electronics II-63
Bruker Inks Distribution Agreement with Diagnosoft for Cardiac
MRI Analysis Tools II-63
Philips Healthcare Collaborates with Brainlab on Intra-
Operative MRI for Neurosurgery II-63
Bruker to Acquire Preclinical In-Vivo Imaging Operations from
Carestream II-64
Akron General Medical Center Selects Brainlab for Deployment
of Brainsuite iCT and iMRI II-64
Philips and Elekta to Extend Collaboration II-64
Winn Army Community Hospital Deploys Vantage Titanâ„¢ 3T MR
System of Toshiba II-65
Centro Medico Teknon Purchases High Field Open Panoramic MRI
System II-65
Life Little Company of Mary Hospital Deploys Philips Ingenia
3.0 Tesla MRI System II-65
Royal Philips Electronics Introduces New Enhancements to MRI
and Ultrasound Systems II-65
Toshiba America Medical Systems Establishes Toshiba MR
Research Center II-66
Philips and Smit Mobile Deploy First Mobile 3.0T MRI System in
Middle East II-66
Royal Philips Electronics to Install Advanced MRI Technology
in Public Hospitals in Ethiopia II-66
CarolinaEast Medical Center and Diagnostic Center Install New
MRI System II-67
Hitachi Medical Systems and iCAD Ink Agreement II-67
Air Products and Chemicals Secures Contract from Genesis
Medical Imaging II-67
Alliance HealthCare Services Takes Over 24/7 Radiology II-68
Hitachi Medical Systems and Trivitron Healthcare Enter into
Partnership II-68
Geisinger Health System Deploys Vantage Titan 1.5T MR of
Toshiba America Medical Systems II-68
Thumb MRI Center Installs Toshiba MR Technology II-68
Toshiba Medical Systems to Take Over Vital Images II-69
GE Healthcare Acquires SSI II-69
ADG Acquisition Acquires AFO Imaging II-69
Michigan Resonance Imaging Installs Siemens Aera 1.5T Open
Magnetic Resonance Imaging Machine II-69
Brainlab and SurgiVision Collaborate for iMRI Guided Therapies II-70
Star Imaging Installs MRI System II-70
St Jude Medical Obtains CE Mark Clearance for Accent MRI
Pacemaker, Tendril MRI Lead II-70
GE Healthcare Obtains FDA Clearance II-71
Toshiba Launches reNEW Upgrade Program for Vantage 1.5T MR
Equipment II-72
Air Products Signs a Contract with Genesis II-72
MRI Medical Renamed as Xeridiem Medical Devices II-72

9. FOCUS ON SELECT PLAYERS II-73
China Resources Wandong Medical Equipment Co., Ltd (China) II-73
Esaote SPA (Italy) II-73
FONAR Corporation (USA) II-74
GE Healthcare (UK) II-75
Hitachi Medical Corporation (Japan) II-75
IMRIS, Inc. (Canada) II-76
Medinus Co., Ltd. (South Korea) II-76
Medtronic, Inc. (USA) II-76
Millennium Technology, Inc. (Canada) II-77
Philips Healthcare (US) II-77
Shenzhen Anke High-tech Co., Ltd. (China) II-78
Siemens Healthcare (Germany) II-78
Toshiba Medical Systems Corp. (Japan) II-79
Toshiba America Medical Systems, Inc. (US) II-79

10. GLOBAL MARKET PERSPECTIVE II-80
A. Unit Analytics II-80
Table 6: World Recent Past, Current and Future Analysis for
Magnetic Resonance Imaging Equipment by Geographic Region -
US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
Latin America and Rest of World Markets Independently
Analyzed with Annual Sales Figures in Units for Years 2010
through 2018 (includes corresponding Graph/Chart) II-80

Table 7: World Historic Review for Magnetic Resonance Imaging
Equipment by Geographic Region - US, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), Latin America and Rest of
World Markets Independently Analyzed with Annual Sales
Figures in Units for Years 2004 through 2009 (includes
corresponding Graph/Chart) II-81

Table 8: World 15-Year Perspective for Magnetic Resonance
Imaging Equipment by Geographic Region - Percentage Breakdown
of Volume Sales for US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Latin America and Rest of World Markets
for Years 2004, 2013 and 2018 (includes corresponding
Graph/Chart) II-82
MRI Equipment Market by Segment II-83
Table 9: World Recent Past, Current and Future Analysis for
Closed MRI Systems by Geographic Region - US, Canada, Japan,
Europe, Asia-Pacific (excluding Japan), Latin America and
Rest of World Markets Independently Analyzed with Annual
Sales Figures in Units for Years 2010 through 2018 (includes
corresponding Graph/Chart) II-83

Table 10: World Historic Review for Closed MRI Systems by
Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Latin America and Rest of World Markets
Independently Analyzed with Annual Sales Figures in Units for
Years 2004 through 2009 (includes corresponding Graph/Chart) II-84

Table 11: World 15-Year Perspective for Closed MRI Systems by
Geographic Region - Percentage Breakdown of Volume Sales for
US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
Latin America and Rest of World Markets for Years 2004, 2013
and 2018 (includes corresponding Graph/Chart) II-85

Table 12: World Recent Past, Current and Future Analysis for
Open MRI Systems by Geographic Region - US, Canada, Japan,
Europe, Asia-Pacific (Excluding Japan), Latin America and
Rest of World Markets Independently Analyzed with Annual
Sales Figures in Units for Years 2010 through 2018 (includes
corresponding Graph/Chart) II-86

Table 13: World Historic Review for Open MRI Systems by
Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Latin America and Rest of World Markets
Independently Analyzed with Annual Sales Figures in Units for
Years 2004 through 2009 (includes corresponding Graph/Chart) II-87

Table 14: World 15-Year Perspective for Open MRI Systems by
Geographic Region - Percentage Breakdown of Volume Sales for
US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
Latin America and Rest of World Markets for Years 2004, 2013 and
2018 (includes corresponding Graph/Chart) II-88
B. Dollar Analytics II-89
Table 15: World Recent Past, Current and Future Analysis for
Magnetic Resonance Imaging Equipment by Geographic Region -
US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
Latin America and Rest of World Markets Independently
Analyzed with Annual Sales Figures in US$ Million for Years
2010 through 2018 (includes corresponding Graph/Chart) II-89

Table 16: World Historic Review for Magnetic Resonance
Imaging Equipment by Geographic Region - US, Canada, Japan,
Europe, Asia-Pacific (excluding Japan), Latin America and
Rest of World Markets Independently Analyzed with Annual
Sales Figures in US$ Million for Years 2004 through 2009
(includes corresponding Graph/Chart) II-90

Table 17: World 15-Year Perspective for Magnetic Resonance
Imaging Equipment by Geographic Region - Percentage Breakdown
of Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Latin America and Rest of World Markets
for Years 2004, 2013 and 2018 (includes corresponding
Graph/Chart) II-91
MRI Equipment Market by Segment II-92
Table 18: World Recent Past, Current and Future Analysis for
Closed MRI Systems by Geographic Region - US, Canada, Japan,
Europe, Asia-Pacific (excluding Japan), Latin America and
Rest of World Markets Independently Analyzed with Annual
Sales Figures in US$ Million for Years 2010 through 2018
(includes corresponding Graph/Chart) II-92

Table 19: World Historic Review for Closed MRI Systems by
Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Latin America and Rest of World Markets
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2004 through 2009 (includes corresponding
Graph/Chart) II-93

Table 20: World 15-Year Perspective for Closed MRI Systems by
Geographic Region - Percentage Breakdown of Dollar Sales for
US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
Latin America and Rest of World Markets for Years 2004, 2013 and
2018 (includes corresponding Graph/Chart) II-94

Table 21: World Recent Past, Current and Future Analysis for
Open MRI Systems by Geographic Region - US, Canada, Japan,
Europe, Asia-Pacific (excluding Japan), Latin America and
Rest of World Markets Independently Analyzed with Annual
Sales Figures in US$ Million for Years 2010 through 2018
(includes corresponding Graph/Chart) II-95

Table 22: World Historic Review for Open MRI Systems by
Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Latin America and Rest of World Markets
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2004 through 2009 (includes corresponding
Graph/Chart) II-96

Table 23: World 15-Year Perspective for Open MRI Systems by
Geographic Region - Percentage Breakdown of Dollar Sales for
US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
Latin America and Rest of World Markets for Years 2004, 2013 and
2018 (includes corresponding Graph/Chart) II-97


III. MARKET

1. THE UNITED STATES III-1
A.Market Analysis III-1
Current and Future Analysis III-1
Imaging Centers Feel the Heat during Recession III-1
Changing Technological Scenario III-2
In the 80s III-2
1990s Mark Openness III-2
Installed Base and Procedural Volumes III-3
Table 24: US Market for MRI Systems by Type (2012):
Percentage Breakdown of MRI Installed Base for 1.5T, and =3T (includes corresponding Graph/Chart) III-3

Table 25: Number of MRI Procedures in US in Millions for
Years 2003 through 2012 (includes corresponding
Graph/Chart) III-3
US Market for Low and Mid-Field MRI Systems III-3
Select Low and Mid-Field MRI Systems from Major Players III-4
Demographic Changes Offer Growth Opportunities III-4
Table 26: Percentage Distribution of US Population by Age
Group: 2012 (includes corresponding Graph/Chart) III-4
Advancements in Technology to Drive the Market III-5
Health care Reform to Open Doors for Global Manufacturers III-5
Reimbursement III-5
CMS’ Rules Change Cuts Down Technical Component of MRI
Reimbursement III-6
Table 27: A Comparison of Medicare Reimbursement Rates for
Upper and Lower Extremity MRI Examinations for 2012 and
2013 III-6

Table 28: MRI Reimbursement Changes: CPT Codes for MRI and
MR Angiography (MRA) and Payment Rates for 2013 and 2014 III-7

Table 29: Lower Extremity MRI Reimbursement Changes: CPT
Codes for MRI and MR Angiography (MRA) and Payment Rates
for 2013 and 2014 III-8

Table 30: Upper Extremity MRI Reimbursement Changes: CPT
Codes for MRI and MR Angiography (MRA) and Payment Rates
for 2013 and 2014 III-9

Table 31: Abdominal MRI Reimbursement Changes: CPT Codes
for MRI and MR Angiography (MRA) and Payment Rates for 2013
and 2014 III-10

Table 32: Cardiac MRI Reimbursement Changes: CPT Codes for
MRI and Payment Rates for 2013 and 2014 III-10

Table 33: Chest MRI Reimbursement Changes: CPT Codes for
MRI and MR Angiography (MRA), and Payment Rates for 2013
and 2014 III-11

Table 34: Reimbursement Changes for Other MRI Procedures:
CPT Codes for MRI and Payment Rates for 2013 and 2014 III-11

Table 35: Spinal MRI Reimbursement Changes: CPT Codes for
MRI and MR Angiography (MRA), and Payment Rates for 2013
and 2014 III-12

Table 36: Pelvic MRI Reimbursement Changes: CPT Codes for
MRI and MR Angiography (MRA), and Payment Rates for 2013
and 2014 III-13
The Fallout of ATRA on MRI Examination Trends III-13
Competitive Scenario III-14
Table 37: Leading Players in the US MRI Equipment Market
(2012): Percentage Breakdown of Value Sales for Siemens,
GE, Philips and Others (includes corresponding Graph/Chart) III-14

Table 38: Leading Players in the US High-Field MRI
Equipment Market (2012): Percentage Breakdown of Value
Sales for Siemens Healthcare, GE Healthcare, Philips
Healthcare, Toshiba America Medical Systems, and Others
(includes corresponding Graph/Chart) III-14

Table 39: Leading Players in the US Open MRI Equipment
Market (2012): Percentage Breakdown of Value Sales for
Hitachi Medical Systems, GE Healthcare, Fonar, Toshiba
America Medical Systems, and Others (includes corresponding
Graph/Chart) III-15

Table 40: Leading Players in the US Closed MRI Equipment
Market (2012): Percentage Share Breakdown of Value Sales
for GE Healthcare, Siemens Healthcare, Philips Healthcare,
and Others (includes corresponding Graph/Chart) III-15
EX-IM Statistics III-16
Table 41: US Exports of MRI Apparatus by Destination:
Percentage Breakdown of Export Value by Country for Years
2011 and 2012 (includes corresponding Graph/Chart) III-16

Table 42: US Imports of MRI Apparatus by Country of Origin:
Percentage Breakdown of Import Value by Country for Years
2011 and 2012 (includes corresponding Graph/Chart) III-17
Product Launches/Developments III-18
Strategic Corporate Developments III-25
Select Players III-36
B.Market Analytics III-38
Unit Analytics III-38
Table 43: US Recent Past, Current and Future Analysis for
Magnetic Resonance Imaging Equipment by Magnetic Field -
Low and Mid-Field Systems, High-Field Systems, and Very
High-Field Systems Markets Independently Analyzed with
Annual Sales Figures in Units for Years 2010 through 2018
(includes corresponding Graph/Chart) III-38

Table 44: US Historic Review for Magnetic Resonance Imaging
Equipment by Magnetic Field - Low and Mid-Field Systems,
High-Field Systems, and Very High-Field Systems Markets
Independently Analyzed with Annual Sales Figures in Units
for Years 2004 through 2009 (includes corresponding
Graph/Chart) III-39

Table 45: US 15-Year Perspective for Magnetic Resonance
Imaging Equipment by Magnetic Field - Percentage Breakdown
of Volume Sales for Low and Mid-Field Systems, High-Field
Systems, and Very High-Field Systems Markets for Years
2004, 2013 and 2018 (includes corresponding Graph/Chart) III-40

Table 46: US Recent Past, Current and Future Analysis for
Magnetic Resonance Imaging Equipment by Design Type -
Closed MRI Systems and Open MRI Systems Markets
Independently Analyzed with Annual Sales Figures in Units
for Years 2010 through 2018 (includes corresponding
Graph/Chart) III-41

Table 47: US Historic Review for Magnetic Resonance Imaging
Equipment by Design Type - Closed MRI Systems and Open MRI
Systems Markets Independently Analyzed with Annual Sales
Figures in Units for Years 2004 through 2009 (includes
corresponding Graph/Chart) III-42

Table 48: US 15-Year Perspective for Magnetic Resonance
Imaging Equipment by Design Type - Percentage Breakdown of
Volume Sales for Closed MRI Systems and Open MRI Systems
Markets for Years 2004, 2013 and 2018 (includes corresponding
Graph/Chart) III-43
Dollar Analytics III-44
Table 49: US Recent Past, Current and Future Analysis for
Magnetic Resonance Imaging Equipment by Magnetic Field -
Low and Mid-Field Systems, High-Field Systems, and Very
High-Field Systems Markets Independently Analyzed with
Annual Sales Figures in US$ Million for Years 2010 through
2018 (includes corresponding Graph/Chart) III-44

Table 50: US Historic Review for Magnetic Resonance Imaging
Equipment by Magnetic Field - Low and Mid-Field Systems,
High-Field Systems, and Very High-Field Systems Markets
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2004 through 2009 (includes corresponding
Graph/Chart) III-45

Table 51: US 15-Year Perspective for Magnetic Resonance
Imaging Equipment by Magnetic Field - Percentage Breakdown
of Dollar Sales for Low and Mid-Field Systems, High-Field
Systems, and Very High-Field Systems Markets for Years
2004, 2013 and 2018 (includes corresponding Graph/Chart) III-46

Table 52: US Recent Past, Current and Future Analysis for
Magnetic Resonance Imaging Equipment by Design Type -
Closed MRI Systems and Open MRI Systems Markets
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2010 through 2018 (includes corresponding
Graph/Chart) III-47

Table 53: US Historic Review for Magnetic Resonance Imaging
Equipment by Design Type - Closed MRI Systems and Open MRI
Systems Markets Independently Analyzed with Annual Sales
Figures in US$ Million for Years 2004 through 2009
(includes corresponding Graph/Chart) III-48

Table 54: US 15-Year Perspective for Magnetic Resonance
Imaging Equipment by Design Type - Percentage Breakdown of
Dollar Sales for Closed MRI Systems and Open MRI Systems
Markets for Years 2004, 2013 and 2018 (includes corresponding
Graph/Chart) III-49

2. CANADA III-50
A.Market Analysis III-50
Current and Future Analysis III-50
MRI Market Overview III-50
Table 55: Percentage Distribution of Canadian Population by
Age Group: 2012 (includes corresponding Graph/Chart) III-50
Recession Hits Imaging Industry III-51
Installed Base of MRI Scanners Rises, Waiting Time Declines III-51
Advancements in Technology Drive Growth in Imaging Market III-51
Fusion of Modalities to Expand Applications III-51
Miniaturization and Increase in Computing Power III-51
Automation of Workflow III-52
3D/4D imaging and Computer-aided Detection III-52
Market Challenges III-52
Technological Constraints III-52
Diagnostic Confidence III-52
Interconnectivity and Standardization III-52
Accessibility III-52
Regulatory and Legal Restrictions III-53
Competitive Landscape III-53
Table 56: Leading Players in the Canadian MRI Equipment
Market (2012): Percentage Breakdown of Value Sales for GE
Healthcare, Philips Healthcare, Siemens Healthcare,
Hologic, Inc., Toshiba Medical Systems, and Others
(includes corresponding Graph/Chart) III-53
EX-IM Statistics III-54
Table 57: Canadian Exports of MRI Apparatus by Destination:
Percentage Breakdown of Export Value by Country for Years
2011 and 2012 (includes corresponding Graph/Chart) III-54

Table 58: Canadian Imports of MRI Apparatus by Country of
Origin: Percentage Breakdown of Import Value by Country for
Years 2011 and 2012 (includes corresponding Graph/Chart) III-54
Product Introductions/Innovations III-55
Strategic Corporate Developments III-55
Select Players III-56
B.Market Analytics III-57
Unit Analytics III-57
Table 59: Canadian Recent Past, Current and Future Analysis
for Magnetic Resonance Imaging Equipment by Design Type -
Closed MRI Systems and Open MRI Systems Markets
Independently Analyzed with Annual Sales Figures in Units
for Years 2010 through 2018 (includes corresponding
Graph/Chart) III-57

Table 60: Canadian Historic Review for Magnetic Resonance
Imaging Equipment by Design Type - Closed MRI Systems and
Open MRI Systems Markets Independently Analyzed with Annual
Sales Figures in Units for Years 2004 through 2009
(includes corresponding Graph/Chart) III-58

Table 61: Canadian 15-Year Perspective for Magnetic
Resonance Imaging Equipment by Design Type - Percentage
Breakdown of Volume Sales for Closed MRI Systems and Open
MRI Systems Markets for Years 2004, 2013 and 2018 (includes
corresponding Graph/Chart) III-59
Dollar Analytics III-60
Table 62: Canadian Recent Past, Current and Future Analysis
for Magnetic Resonance Imaging Equipment by Design Type -
Closed MRI Systems and Open MRI Systems Markets
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2010 through 2018 (includes corresponding
Graph/Chart) III-60

Table 63: Canadian Historic Review for Magnetic Resonance
Imaging Equipment by Design Type - Closed MRI Systems and
Open MRI Systems Markets Independently Analyzed with Annual
Sales Figures in US$ Million for Years 2004 through 2009
(includes corresponding Graph/Chart) III-61

Table 64: Canadian 15-Year Perspective for Magnetic
Resonance Imaging Equipment by Design Type - Percentage
Breakdown of Dollar Sales for Closed MRI Systems and Open
MRI Systems Markets for Years 2004, 2013 and 2018 (includes
corresponding Graph/Chart) III-62

3. JAPAN III-63
A.Market Analysis III-63
Current and Future Analysis III-63
Japanese MRI Market - An Overview III-63
Effective Use of MRI Equipment - A Major Concern III-63
Overseas Players Dominate Japanese MRI Market III-64
Table 65: Leading Players in the Japanese MRI Equipment
Market (2012): Percentage Breakdown of Value Sales for GE
Healthcare, Toshiba, Siemens, and Others (includes
corresponding Graph/Chart) III-64
Demographics and Healthcare III-65
Production and Import Statistics III-65
Table 66: Japanese Production of MRI Equipment: Annual
Value of Equipment Production in US$ Million for Years 2003
through 2011 (includes corresponding Graph/Chart) III-65

Table 67: Japanese Imports of MRI Equipment: Import Value
in US$ Million for Years 2003 through 2011 (includes
corresponding Graph/Chart) III-66
Product Introductions/Innovations III-66
Strategic Corporate Development III-67
Select Players III-68
B.Market Analytics III-69
Unit Analytics III-69
Table 68: Japanese Recent Past, Current and Future Analysis
for Magnetic Resonance Imaging Equipment by Design Type -
Closed MRI Systems and Open MRI Systems Markets
Independently Analyzed with Annual Sales Figures in Units
for Years 2010 through 2018 (includes corresponding
Graph/Chart) III-69

Table 69: Japanese Historic Review for Magnetic Resonance
Imaging Equipment by Design Type - Closed MRI Systems and
Open MRI Systems Markets Independently Analyzed with Annual
Sales Figures in Units for Years 2004 through 2009
(includes corresponding Graph/Chart) III-70

Table 70: Japanese 15-Year Perspective for Magnetic
Resonance Imaging Equipment by Design Type - Percentage
Breakdown of Volume Sales for Closed MRI Systems and Open
MRI Systems Markets for Years 2004, 2013 and 2018 (includes
corresponding Graph/Chart) III-71
Dollar Analytics III-72
Table 71: Japanese Recent Past, Current and Future Analysis
for Magnetic Resonance Imaging Equipment by Design Type -
Closed MRI Systems and Open MRI Systems Markets
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2010 through 2018 (includes corresponding
Graph/Chart) III-72

Table 72: Japanese Historic Review for Magnetic Resonance
Imaging Equipment by Design Type - Closed MRI Systems and
Open MRI Systems Markets Independently Analyzed with Annual
Sales Figures in US$ Million for Years 2004 through 2009
(includes corresponding Graph/Chart) III-73

Table 73: Japanese 15-Year Perspective for Magnetic
Resonance Imaging Equipment by Design Type - Percentage
Breakdown of Dollar Sales for Closed MRI Systems and Open
MRI Systems Markets for Years 2004, 2013 and 2018 (includes
corresponding Graph/Chart) III-74

4. EUROPE III-75
A.Market Analysis III-75
Current and Future Analysis III-75
MRI Market in Europe - An Overview III-75
European MRI Market Outlook III-76
Impact of Lag in Market Performance over Technology Innovation III-76
Refurbished Medical Imaging Equipment Market: Gaining
Strength During Adversities III-77
Mobile Imaging Units in Demand III-77
Regulations for Imaging Equipment III-77
Uncertainty over Future Use of Clinical MRI in Europe Wilts III-77
Italy Shoots to the Top in MRI Density III-78
Table 74: MRI Scanners per Million People in Select
European Markets: 2011 (includes corresponding Graph/Chart) III-79

Table 75: Availability of MRI Scanners in Select European
Countries by Facility Type (2010): Breakdown of Number of
Units per Million Population for Hospital and Non-Hospital
Facilities (includes corresponding Graph/Chart) III-80
B.Market Analytics III-81
Unit Analytics III-81
Table 76: European Recent Past, Current and Future Analysis
for Magnetic Resonance Imaging Equipment by Geographic
Region - France, Germany, Italy, UK, Spain, Russia and Rest
of Europe Markets Independently Analyzed with Annual Sales
Figures in Units for Years 2010 through 2018 (includes
corresponding Graph/Chart) III-81

Table 77: European Historic Review for Magnetic Resonance
Imaging Equipment by Geographic Region - France, Germany,
Italy, UK, Spain, Russia and Rest of Europe Markets
Independently Analyzed with Annual Sales Figures in Units
for Years 2004 through 2009 (includes corresponding
Graph/Chart) III-82

Table 78: European 15-Year Perspective for Magnetic
Resonance Imaging Equipment by Geographic Region -
Percentage Breakdown of Volume Sales for France, Germany,
Italy, UK, Spain, Russia and Rest of Europe Markets for
Years 2004, 2013 and 2018 (includes corresponding
Graph/Chart) III-83

Table 79: European Recent Past, Current and Future Analysis
for Magnetic Resonance Imaging Equipment by Design Type -
Closed MRI Systems and Open MRI Systems Markets
Independently Analyzed with Annual Sales Figures in Units
for Years 2010 through 2018 (includes corresponding
Graph/Chart) III-84

Table 80: European Historic Review for Magnetic Resonance
Imaging Equipment by Design Type - Closed MRI Systems and
Open MRI Systems Markets Independently Analyzed with Annual
Sales Figures in Units for Years 2004 through 2009
(includes corresponding Graph/Chart) III-85

Table 81: European 15-Year Perspective for Magnetic
Resonance Imaging Equipment by Design Type - Percentage
Breakdown of Volume Sales for Closed MRI Systems and Open
MRI Systems Markets for Years 2004, 2013 and 2018 (includes
corresponding Graph/Chart) III-86
Dollar Analytics III-87
Table 82: European Recent Past, Current and Future Analysis
for Magnetic Resonance Imaging Equipment by Geographic
Region - France, Germany, Italy, UK, Spain, Russia and Rest
of Europe Markets Independently Analyzed with Annual Sales
Figures in US$ Million for Years 2010 through 2018
(includes corresponding Graph/Chart) III-87

Table 83: European Historic Review for Magnetic Resonance
Imaging Equipment by Geographic Region - France, Germany,
Italy, UK, Spain, Russia and Rest of Europe Markets
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2004 through 2009 (includes corresponding
Graph/Chart) III-88

Table 84: European 15-Year Perspective for Magnetic
Resonance Imaging Equipment by Geographic Region -
Percentage Breakdown of Dollar Sales for France, Germany,
Italy, UK, Spain, Russia and Rest of Europe Markets for
Years 2004, 2013 and 2018 (includes corresponding
Graph/Chart) III-89

Table 85: European Recent Past, Current and Future Analysis
for Magnetic Resonance Imaging Equipment by Design Type -
Closed MRI Systems and Open MRI Systems Markets
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2010 through 2018 (includes corresponding
Graph/Chart) III-90

Table 86: European Historic Review for Magnetic Resonance
Imaging Equipment by Design Type - Closed MRI Systems and
Open MRI Systems Markets Independently Analyzed with Annual
Sales Figures in US$ Million for Years 2004 through 2009
(includes corresponding Graph/Chart) III-91

Table 87: European 15-Year Perspective for Magnetic
Resonance Imaging Equipment by Design Type - Percentage
Breakdown of Dollar Sales for Closed MRI Systems and Open
MRI Systems Markets for Years 2004, 2013 and 2018 (includes
corresponding Graph/Chart) III-92

4a. FRANCE III-93
A.Market Analysis III-93
Current and Future Analysis III-93
Low Availability of MRI - A Major Concern in France III-93
Demographics III-94
Table 88: Percentage Distribution of French Population by
Age Group: 2012 (includes corresponding Graph/Chart) III-94
B.Market Analytics III-94
Unit Analytics III-94
Table 89: French Recent Past, Current and Future Analysis for
Magnetic Resonance Imaging Equipment by Design Type -
Closed MRI Systems and Open MRI Systems Markets
Independently Analyzed with Annual Sales Figures in Units
for Years 2010 through 2018 (includes corresponding
Graph/Chart) III-94

Table 90: French Historic Review for Magnetic Resonance
Imaging Equipment by Design Type - Closed MRI Systems and
Open MRI Systems Markets Independently Analyzed with Annual
Sales Figures in Units for Years 2004 through 2009
(includes corresponding Graph/Chart) III-95

Table 91: French 15-Year Perspective for Magnetic Resonance
Imaging Equipment by Design Type - Percentage Breakdown of
Volume Sales for Closed MRI Systems and Open MRI Systems
Markets for Years 2004, 2013 and 2018 (includes corresponding
Graph/Chart) III-96
Dollar Analytics III-97
Table 92: French Recent Past, Current and Future Analysis for
Magnetic Resonance Imaging Equipment by Design Type -
Closed MRI Systems and Open MRI Systems Markets
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2010 through 2018 (includes corresponding
Graph/Chart) III-97

Table 93: French Historic Review for Magnetic Resonance
Imaging Equipment by Design Type - Closed MRI Systems and
Open MRI Systems Markets Independently Analyzed with Annual
Sales Figures in US$ Million for Years 2004 through 2009
(includes corresponding Graph/Chart) III-98

Table 94: French 15-Year Perspective for Magnetic Resonance
Imaging Equipment by Design Type - Percentage Breakdown of
Dollar Sales for Closed MRI Systems and Open MRI Systems
Markets for Years 2004, 2013 and 2018 (includes corresponding
Graph/Chart) III-99

4b. GERMANY III-100
A.Market Analysis III-100
Current and Future Analysis III-100
Product Introductions/Innovations III-100
Select Player III-102
B.Market Analytics III-103
Unit Analytics III-103
Table 95: German Recent Past, Current and Future Analysis for
Magnetic Resonance Imaging Equipment by Design Type -
Closed MRI Systems and Open MRI Systems Markets
Independently Analyzed with Annual Sales Figures in Units
for Years 2010 through 2018 (includes corresponding
Graph/Chart) III-103

Table 96: German Historic Review for Magnetic Resonance
Imaging Equipment by Design Type - Closed MRI Systems and
Open MRI Systems Markets Independently Analyzed with Annual
Sales Figures in Units for Years 2004 through 2009
(includes corresponding Graph/Chart) III-104

Table 97: German 15-Year Perspective for Magnetic Resonance
Imaging Equipment by Design Type - Percentage Breakdown of
Volume Sales for Closed MRI Systems and Open MRI Systems
Markets for Years 2004, 2013 and 2018 (includes corresponding
Graph/Chart) III-105
Dollar Analytics III-106
Table 98: German Recent Past, Current and Future Analysis for
Magnetic Resonance Imaging Equipment by Design Type -
Closed MRI Systems and Open MRI Systems Markets
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2010 through 2018 (includes corresponding
Graph/Chart) III-106

Table 99: German Historic Review for Magnetic Resonance
Imaging Equipment by Design Type - Closed MRI Systems and
Open MRI Systems Markets Independently Analyzed with Annual
Sales Figures in US$ Million for Years 2004 through 2009
(includes corresponding Graph/Chart) III-107

Table 100: German 15-Year Perspective for Magnetic
Resonance Imaging Equipment by Design Type - Percentage
Breakdown of Dollar Sales for Closed MRI Systems and Open
MRI Systems Markets for Years 2004, 2013 and 2018 (includes
corresponding Graph/Chart) III-108

4c. ITALY III-109
A.Market Analysis III-109
Current and Future Analysis III-109
Demographic Profile III-109
Table 101: Percentage Distribution of Italian Population by
Age Group: 2012 (includes corresponding Graph/Chart) III-109
Product Introductions/Innovations III-109
Select Player III-110
B.Market Analytics III-112
Unit Analytics III-112
Table 102: Italian Recent Past, Current and Future Analysis
for Magnetic Resonance Imaging Equipment by Design Type -
Closed MRI Systems and Open MRI Systems Markets
Independently Analyzed with Annual Sales Figures in Units
for Years 2010 through 2018 (includes corresponding
Graph/Chart) III-112

Table 103: Italian Recent Past, Current and Future Analysis
for Magnetic Resonance Imaging Equipment by Design Type -
Closed MRI Systems and Open MR

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