According to the industry analysis report titled ‘Global MRI Systems Market - Analysis By Architecture (Closed, Open), Field Strength (<1.5T, 1.5T - 3T, >3T), Application, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’ available with MarketStudyReport, global MRI systems market is slated to expand exponentially by the forecast period-end.

Burgeoning prevalence of chronic diseases such as breast cancer, musculoskeletal disorders, and cardiovascular diseases, along with technological advancements are the primary factors aiding the augmentation of global MRI systems market.

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Further, improved awareness regarding the benefits of early diagnosis, replacement of low-field systems with high field MRI systems, and mounting geriatric population are positively impacting the growth trajectory of the market.

Decisive findings claim that adoption of universal health coverage policies across economies around the globe, improved healthcare infrastructure in emerging markets, as well as increasing launches of innovative products are likely to provide ample opportunities for market expansion in the forthcoming years.

Moving on to segmentation, the global MRI systems market is bifurcated in terms of field strength (less than 1.5T, 1.5T-3T, more than 3T), architecture (open, closed), application (musculoskeletal, neurology, cardiology, others), and region (North America, Europe, Asia Pacific).

With respect to field strength, 1.5-3T sub-segment amounted for a substantial market share in 2020 and will likely experience strong returns in the ensuing years. Meanwhile, the more than 3T sub-segment is expected to steadily gain popularity during the review period, creditable to noteworthy improvements in imaging quality.

From a regional viewpoint, North America market is anticipated to gain sizable traction through 2026. However, opportunities for expansion across emerging economies within Asia Pacific are likely to propel the market forward in the analysis timeframe.

The competitive landscape of this business sphere is majorly influenced by key players such as Esaote SpA, Hitachi Ltd., General Electric Company, Siemens Healthineers AG, Time Medical Systems, Canon Medical Systems Corporation, MR Solutions Group, and Koninklijke Philips N.V.