Global Magnetic Resonance Imaging (MRI) Market is Expected to Reach USD 4.8 Billion by 2016

According to a new market report published by Transparency Market Research  "Magnetic Resonance Imaging (MRI) Market: Global Market Analysis, Size, Share & Forecast (2011 - 2017)", Global MRI market was worth USD 3.9 billion in 2011 and is expected to reach USD 4.8 billion in 2017, growing at a CAGR of 3.5% from 2011 to 2017. In the overall global market, American region is expected to maintain its lead position in terms of revenue till 2017. America is expected to enjoy 37.3% of global MRI revenue share in 2017 followed by Asia.
MRI is a medical diagnostic imaging technique by which detailed images of human anatomical structure is obtained to facilitate early diagnosis of disease. Increase in the aging population and rise in the number of patients suffering from chronic diseases are driving the MRI market. Increase in disposable income, especially in developing economies has led to rise in spending on healthcare, which is expected to augment the demand of MRI equipment. 
The MRI market is segmented into Open MRI and Closed MRI based on structure. On the basis of field strength, MRI is categorized into High-Field, Mid-Field and Low-Field. Low field MRI revenue is expected to reduce by 9% during the forecast period (2011 - 2017) to reach USD 282.4 million in 2017.
The Americas and Europe are the larger MRI markets; however, Asia and RoW regions are expected to have the highest growth rates for MRI scanners in the near future on account of technological advancements in MRI, rising affordability and increase in awareness amongst patients.
The Americas have the largest share in the Open MRI market on account of the increasing aging populations, who are aware of the benefits of early diagnosis. There has been a steep rise in the number of patients suffering from chronic diseases in this region leading to high usage of Open MRI equipment.
This report provides a holistic view to the overall global MRI market with 8 year market data & forecast based on the basis of structure of MRI Equipment (Open MRI & Closed MRI), magnetic field strength (high field MRI, mid field MRI and low field MRI) and geographic markets (Americas, Europe, APAC and RoW)

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