The global MRI systems market is projected to reach USD 1.58 billion by 2023, at a CAGR of 5 percent, predicts to Business Wire. A CT scanner requires ionizing radiation to acquire body images, whereas technological advances in MRI scanners now allow clinicians to perform the same body scan with higher clarity and accuracy with no ionizing radiation. The new generation MRI scanners introduced by vendors have significantly simplified cardiac MRI procedures. Some of the significant advances in the MRI technology have been in the sphere of software and computing. This has allowed to capture faster and more accurate scans with greater details.
The MRI systems market is dominated by players, such as Koninklijke Philips N.V., Siemens AG, General Electric Company, Hitachi Ltd., and Canon Medical Systems Corporation. These market players offer a wide product portfolio and also have an extensive distribution network.
Some of the other companies operating in the industry are Esaote S.p.A, Fonar Corporation, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Neusoft Medical Systems Co. Ltd., Aurora Healthcare US Corp., Bruker Corporation, Time Medical Holdings, and Aspect Imaging Ltd.