The global MR systems market produced $5.6 billion in revenues in 2016 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% to reach $7.2 billion by 2021, according to a new report from MarketsandMarkets.
Market growth is being driven by an increasing number of elderly patients, advancements in MR techniques, and the advent of MR-compatible pacemakers, MarketsandMarkets said. Yet some factors could slow the market's growth, such as the high cost of MR systems, depleting helium supplies, and declining reimbursements for MR exams, according to the firm.
Emerging markets such as Brazil, China, India, and the Middle East; new uses of the technology, such as for detecting multiple sclerosis and breast cancer; and the advent of hybrid MRI systems may also lead to growth opportunities, MarketsandMarkets said.
