(MENAFN – GetNews) Philips Healthcare Is One Of The Largest Companies In The Magnetic Resonance Imaging Devices And Equipment Market, According To TBRC’s Report
(Companies: Siemens Healthineers, GE Healthcare, Philips Healthcare, Hitachi Ltd. and Canon Medical Systems)
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The global magnetic resonance imaging devices and equipment market was valued at about $7.6 billion in 2018. In 2018, North America was the largest region in the magnetic resonance imaging devices and equipment market. This region is expected to remain the largest during the next five years.
Magnetic resonance imaging (MRI) systems are imaging machines used to form pictures of inflammation or infection in an organ, degenerative diseases, strokes, musculoskeletal disorders, tumors, and other irregularities that exist in tissue or organs in a body. MRI systems use a fixed or static magnetic field and radio frequency signals to visualize anatomy, tissue characteristics, vascular flow, chemical composition of tissues, and perfusion and diffusion of tissues.
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Magnetic Resonance Imaging Devices And Equipment Market Size
The global magnetic resonance imaging devices and equipment market is expected to grow to $9.34 billion at a rate of about 5.3% through 2022. Changes in lifestyle, technological advancement, and increase in number of chronic diseases are increasing the demand for the diagnostics, thereby driving the growth of the MRI systems market.
Strict approvals and regulations by government bodies such as US Food and Drug Administration (FDA) is hampering the growth of magnetic resonance imaging systems, devices and equipment market.
Companies in the magnetic resonance imaging devices and equipment market are increasingly investing in advanced MRI imaging technologies to enhance their diagnosis and to reduce orders for rescans. The advanced MRI systems such as multi contract MRI scanners, silent MRI scanning technologies and others allow radiologists to modify the patient’s image contrast after scanning, which is not possible with conventional imaging systems.
Major players in the market are Siemens Healthineers, GE Healthcare, Philips Healthcare, Hitachi Ltd. and Canon Medical Systems.
Royal Philips is a diversified technology company whose health care business makes up 42% of their global sales revenue.
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