Who are the key players in Open System MRI Market?

GE Healthcare, Philips Healthcare, Siemens Healthcare, ESAOTE SA and Canon Medical Systems Corporation are the major companies operating in the Open System MRI Market. Read More

Which is the fastest growing region in Open System MRI Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Open System MRI Market?

In 2024, the North America accounts for the largest market share in Open System MRI Market. Read More

What years does this Open System MRI Market cover, and what was the market size in 2023?

In 2023, the Open System MRI Market size was estimated at USD 1.45 billion. The report covers the Open System MRI Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Open System MRI Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Open System MRI Market Size

Market Size of Open System MRI Industry

Study Period	2019 - 2029
Market Size (2024)	USD 1.54 Billion
Market Size (2029)	USD 2.08 Billion
CAGR (2024 - 2029)	5.88 %
Fastest Growing Market	Asia-Pacific
Largest Market	North America
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

Open System Magnetic Resonance Imaging (MRI) Market Analysis

The Open System MRI Market size is estimated at USD 1.54 billion in 2024, and is expected to reach USD 2.08 billion by 2029, growing at a CAGR of 5.88% during the forecast period (2024-2029).

MRI is a powerful diagnostic tool which is replacing CT because of its higher sensitivity and use of non-ionizing radiations. Open MRI is the more popular one between the two available systems of MRI, open and closed. Open MRI systems have a magnetic field in the top and bottom and do not enclose the patient in a tunnel. Open MRI is used to accommodate claustrophobic, obese and pediatric patients.

Conventional MRI scanners are a cylinder shape, while an open MRI does not completely surround your body. It is usually open on two or three sides. An Open MRI provides a more relaxed, less confining environment and lower noise levels making it less stressful for you. Therefore all these factors are supporting the open system MRI market.

Open System Magnetic Resonance Imaging (MRI) Industry Segmentation

As per the scope of the market, an open MRI system is open, while still using magnets to take images of the inside of the body. Instead of an enclosed capsule, the open MRI uses a magnet on top and bottom and is open on all four sides. These decrease the risk of claustrophobia and panic attacks exponentially and allow patients of all shapes and sizes to be able to make use of an MRI to accurately diagnose their problems. The open system MRI market is segmented by resolution (low-field scanner, mid-field scanner, and high-field scanner), application (neurology, gastroenterology, oncology, cardiology, and other applications), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Resolution
		Low- Field Scanner
		Mid-field Scanner
		High-Field Scanner

By Application
		Neurology
		Gastroenterology
		Cardiology
		Oncology
		Other Applications

Geography

North America
	United States
	Canada
	Mexico

Europe
	Germany
	United Kingdom
	France
	Italy
	Spain
	Rest of Europe

Asia-Pacific
	China
	Japan
	India
	Australia
	South Korea
	Rest of Asia-Pacific

Middle East and Africa
	GCC
	South Africa
	Rest of Middle East and Africa

South America
	Brazil
	Argentina
	Rest of South America

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Open System MRI Market Size Summary

The open system MRI market is poised for significant growth, driven by its increasing preference over traditional CT scans due to its higher sensitivity and non-ionizing radiation use. Open MRI systems, which provide a less confining and more relaxed environment, are particularly beneficial for claustrophobic, obese, and pediatric patients. This market is further bolstered by the rising demand in the neurology segment, where MRI's ability to provide detailed imaging of the brain, spinal cord, and vascular anatomy is crucial. The growing incidence of brain cancer and spinal cord injuries, coupled with new product launches, is expected to propel the market forward during the forecast period.

Regionally, North America is anticipated to experience substantial growth due to the rising prevalence of cardiovascular and brain disorders, which drive the demand for diagnostic imaging procedures like MRI. The increase in MRI diagnostic procedures, particularly in the United States, is a key factor contributing to market expansion. The introduction of advanced products, such as Fujifilm Healthcare America's Velocity MRI System, further supports this growth. The market is characterized by a few key players, including GE Healthcare, Philips Healthcare, and Siemens Healthcare, who continue to innovate and expand their offerings, thereby consolidating their presence in the global and regional markets.

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Open System MRI Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Market Overview
2. 1.2 Market Drivers
  1. 1.2.1 Increasing Number of MRI Procedures
  2. 1.2.2 Technological Developments in Open MRI System
3. 1.3 Market Restraints
  1. 1.3.1 High Cost of Open MRI Systems
4. 1.4 Porter's Five Forces Analysis
  1. 1.4.1 Threat of New Entrants
  2. 1.4.2 Bargaining Power of Buyers/Consumers
  3. 1.4.3 Bargaining Power of Suppliers
  4. 1.4.4 Threat of Substitute Products
  5. 1.4.5 Intensity of Competitive Rivalry
2. MARKET SEGMENTATION (Market Size by Value - USD million)
1. 2.1 By Resolution
  1. 2.1.1 Low- Field Scanner
  2. 2.1.2 Mid-field Scanner
  3. 2.1.3 High-Field Scanner
2. 2.2 By Application
  1. 2.2.1 Neurology
  2. 2.2.2 Gastroenterology
  3. 2.2.3 Cardiology
  4. 2.2.4 Oncology
  5. 2.2.5 Other Applications
3. 2.3 Geography
  1. 2.3.1 North America
    1. 2.3.1.1 United States
    2. 2.3.1.2 Canada
    3. 2.3.1.3 Mexico
  2. 2.3.2 Europe
    1. 2.3.2.1 Germany
    2. 2.3.2.2 United Kingdom
    3. 2.3.2.3 France
    4. 2.3.2.4 Italy
    5. 2.3.2.5 Spain
    6. 2.3.2.6 Rest of Europe
  3. 2.3.3 Asia-Pacific
    1. 2.3.3.1 China
    2. 2.3.3.2 Japan
    3. 2.3.3.3 India
    4. 2.3.3.4 Australia
    5. 2.3.3.5 South Korea
    6. 2.3.3.6 Rest of Asia-Pacific
  4. 2.3.4 Middle East and Africa
    1. 2.3.4.1 GCC
    2. 2.3.4.2 South Africa
    3. 2.3.4.3 Rest of Middle East and Africa
  5. 2.3.5 South America
    1. 2.3.5.1 Brazil
    2. 2.3.5.2 Argentina
    3. 2.3.5.3 Rest of South America