MRI Market Growth 2021, Segmentation, Regional Demand, Company Share, Business Statics, Top Manufacturers with Sales, Production Overview and Gross Margin to 2030

In a recent published report, Kenneth Research has updated the Market report for MRI Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for MRI Market Products.

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According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

MRI market in India is expected to grow at a healthy rate as the awareness for MRI tests increase and also technological advancements make MRI suitable for treating wide variety of diseases.

The report begins with an introduction which explains the characteristics of MRI and the various applications of MRI in the medical field. In the market overview section market size in terms of value as well as volume has been depicted along with the growth rate. It also gives segmentation of the MRI market. It also contains the buying behavior of customers for selecting MRI. Further the report gives region specific demand for MRI and the total installed MRI equipments in India.

In the next section drivers and challenges has been highlighted. Drivers include increasing demand from hospitals and imaging centers which boosts the MRI market. Increase in health insurance and per capita disposable income also makes MRI treatment more affordable. Growth in medical tourism increases the demand for MRI tests in India as tests are far cheaper in India than US. Also, as the country places more emphasis on the healthcare segment in this budget, it is likely to see strengthening of the government hospital infrastructure. Again as the patients and doctors become more aware MRI tests are likely to find more acceptance. The challenges identified include currency fluctuation where the profit margin of the manufacturer takes a hit. Also, as MRI tests are out of range for majority of the patients as it is still costly for an average Indian.

In the next section the value of MRI equipments imported and exported has been highlighted (for last 5 years). It also highlights the major importers and exporters of the industry. The section on Government participation highlights the various steps taken by the government which has impacted the industry. These steps include public private partnership, reduction in import duties for medical equipments and various government health insurance schemes. The section on technological improvements gives a picture about the various technological upgradations that has impacted the industry. The trends section gives an idea of the various trends in the current market. These include rising popularity of the refurbished MRI equipments as Indian consumers are still cost conscious especially smaller hospitals from tier 2 and tier 3 cities, MRI installation in various state hospitals in a public private partnership model and how tele-radiology has led to positive growth in the MRI industry

The competition section begins with a Porter’s five forces model which analyses the dynamics of the market. The major players in the market have been profiled which includes a financial summary for each of the players. Key ratios and key contacts are also listed. The last section offers strategic recommendations for the players in the ventilator market

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The Market report answers the following questions:

What is the aim of the report?

  • The market report presents the estimated market size of MRI Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
  • Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
  • An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
  • The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
  • The various parameters accelerating the growth of Market are incorporated in the research report.
  • The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

  • Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
  • The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
  • The growth rate of the market in every region, including their countries over the forecast period is included in the market report.

Based on what factors are the key market players assessed in this report?

  • The report offers detailed analysis of leading companies in the market across the globe.
  • It provides details of the major vendors involved in the Market including Key Playes
  • A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
  • The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
  • The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

  • Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
  • The report offers the present scenario and future growth prospects Market in various geographical regions.
  • The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
  • The SWOT analysis is conducted along with Porter’s Five Force analysis.
  • The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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Eli is a freelance writer and possess double graduation degree in physics and chemistry. She is an intense writer covering everything for Science and Tech to Business, Entertainment, Sports and Lifestyle.

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