The global MRI market is expected to reach USD 7955 million by 2025, estimates Markets Insider. The MRI market is estimated to grow with a CAGR of 3.8 percent from 2018 to 2025. The demand for MRI is strong for scanning brain and neurological systems due to the lack of effective and accurate alternation. However, in several other applications, such as cardiac and breast imaging, alternatives such as ultrasound techniques and X-ray are considered to be the first-line imaging tools. In terms of field strength, mid-field strength devices are likely to have high demand during 2018–2025, owing to affordable price and acceptable speed and resolution.
Companies are focusing on research and development of advanced open systems, which have minimum chances of suffocation and higher acceptance among claustrophobic people. Hence, such improvements in technology are working in favor of the global MRI market. The rising geriatric population is also stimulating the adoption of MRI.