Global MRI market could top $5B in 2018

Powered by the growth in noninvasive and nonionizing diagnostic procedures, the global MRI systems market could reach $5.24 billion by 2018.

The global MRI market was $4.1 billion in 2012 and $4 billion in 2011, according to a new report from research firm MarketsandMarkets.

The company noted that closed systems with high field strengths dominate the market due to their greater clinical significance and higher image resolution. Technological advancements, such as the introduction of MRI-compatible pacemakers and digital broadband scanners, are also driving the growth of the MRI market.

The aging population in developed countries and more cases of chronic disease in developing economies are accelerating market growth from the demand side.

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