Asia Pacific Open System MRI Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 338.09 Million |
| Market Size (2029) | USD 491.50 Million |
| CAGR (2024 - 2029) | 7.77 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia Pacific Open System MRI Market Analysis
The Asia Pacific Open System MRI Market size is estimated at USD 338.09 million in 2024, and is expected to reach USD 491.5 million by 2029, growing at a CAGR of 7.77% during the forecast period (2024-2029).
Open systems are preferred systems for scanning infants and can accommodate overweight and obese patients also. Hospitals and diagnostic centers prefer to purchase open systems as they allow diagnostic imaging of a variety of conditions. These systems have a small risk of panic attacks and claustrophobia, leading to widespread acceptance of these programs by patients with these conditions.
The growth of this open MRI systems market can be attributed to the increasing geriatric population and rising prevalence of cancer in the region. According to estimates of Johnson and Johnson, Asia pacific has 50% of the world's cancer burden in the year 2020 and is expected to increase by 36% for 2030. However, the growing disease burden, and increasing application of the MRI system, and the advantages of the open MRIs are boosting the market growth in the region. Therefore all these factors are supporting the Asia Pacific Open System MRI market.
Asia Pacific Open System MRI Market Trends
This section covers the major market trends shaping the APAC Open System MRI Market according to our research experts:
Application in Neurology is Expected to Dominate the Asia Pacific Open System MRI Market
The neurological uses of MRI systems include the diagnosis of brain and spinal cord tumors, infection, and vascular irregularities, which may lead to stroke. MRI can also detect the disorders, along with performing the monitoring of degenerative disorders, such as multiple sclerosis, and it can even document brain injury from trauma. Other abnormalities that are often diagnosed include brain aneurysms, stroke, tumors of the brain, as well as tumors or inflammation of the spine.
According to an article published in 'Stroke and Vascular Neurology' 2019 edition, the death rate for cerebrovascular diseases in China was 149.49 per 100 000, accounting for 1.57 million deaths in 2018. Therefore with the increasing prevalence of neurological diseases, the demand for diagnostic imaging equipment like open MRI and hence this factor is expected for the market growth.
Asia Pacific Open System MRI Industry Overview
The majority of the open system MRI are being manufactured by some of the major key players. Market leaders with more funds for research and a better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing the emergence of some small players due to the rise of awareness. This has also helped the market grow.
Asia Pacific Open System MRI Market Leaders
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Hitachi Medical Corporation
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Siemens Healthcare
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ESAOTE SA
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Philips Healthcare
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SHENZHEN BASDA MEDICAL APPARATUS CO.,LTD.
*Disclaimer: Major Players sorted in no particular order
Asia Pacific Open System MRI Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Number of MRI Procedures
- 4.2.2 Increasing Applications in Clinical Diagnosis and Increasing Disease Burden
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4.3 Market Restraints
- 4.3.1 High Cost of Open MRI Systems
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4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Resolution
- 5.1.1 Low- Field Scanner
- 5.1.2 Mid-field Scanner
- 5.1.3 High-Field Scanner
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5.2 By Application
- 5.2.1 Neurology
- 5.2.2 Gastroenterology
- 5.2.3 Cardiology
- 5.2.4 Oncology
- 5.2.5 Others
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 Japan
- 5.3.1.3 India
- 5.3.1.4 Australia
- 5.3.1.5 South Korea
- 5.3.1.6 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Mindray
- 6.1.2 Hitachi Medical Corporation
- 6.1.3 Philips Healthcare
- 6.1.4 Siemens Healthcare
- 6.1.5 ESAOTE SA
- 6.1.6 SHENZHEN BASDA MEDICAL APPARATUS CO.,LTD
- 6.1.7 Canon Medical Systems Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Asia Pacific Open System MRI Industry Segmentation
As per the scope of the report, magnetic resonance imaging (MRI) uses a strong magnetic field and radio waves to create detailed images of the organs and tissues within the body. Open MRI systems have a magnetic field in the top and bottom and do not enclose the patient in a tunnel. This prevents patients from becoming Claustrophobic.
| By Resolution | Low- Field Scanner | |
| Mid-field Scanner | ||
| High-Field Scanner | ||
| By Application | Neurology | |
| Gastroenterology | ||
| Cardiology | ||
| Oncology | ||
| Others | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific |
Asia Pacific Open System MRI Market Research FAQs
How big is the Asia Pacific Open System MRI Market?
The Asia Pacific Open System MRI Market size is expected to reach USD 338.09 million in 2024 and grow at a CAGR of 7.77% to reach USD 491.50 million by 2029.
What is the current Asia Pacific Open System MRI Market size?
In 2024, the Asia Pacific Open System MRI Market size is expected to reach USD 338.09 million.
Who are the key players in Asia Pacific Open System MRI Market?
Hitachi Medical Corporation, Siemens Healthcare, ESAOTE SA, Philips Healthcare and SHENZHEN BASDA MEDICAL APPARATUS CO.,LTD. are the major companies operating in the Asia Pacific Open System MRI Market.
What years does this Asia Pacific Open System MRI Market cover, and what was the market size in 2023?
In 2023, the Asia Pacific Open System MRI Market size was estimated at USD 313.71 million. The report covers the Asia Pacific Open System MRI Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia Pacific Open System MRI Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia Pacific MRI Industry Report
Statistics for the 2024 Asia Pacific MRI market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia Pacific MRI analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
