MRI Compatible Patient Monitor Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 – 2026

Introduction

The MRI (Magnetic Resonance Imaging) compatible patient monitor system market is growing due to increase in installation of MRI devices globally. MRI scanners use strong radio waves and magnetic fields in order to get whole body structure scan to detect any diagnosis occurrence of various medical conditions. Senior population is more susceptible to sickness, diseases and syndromes, due to their less resistance power. Therefore, the growth of the global MRI compatible patient monitoring systems market is directly proportional to growing senior population worldwide. The innovative product developments and development facilities, and advanced research by companies are driving the growth of the MRI compatible patient monitoring system industry globally. As per “Safety Committee of the Society for Magnetic Resonance Imaging”, MRI procedure should be supported with appropriate means and physiologically monitored.

Market Dynamics

Upsurge in geriatric population, increasing occurrence of chronic diseases, increasing lifestyle associated diseases, increasing number of hospitals and diagnostic centers, and increasing healthcare expenditure are propelling market demand. However, strict regulatory requirements, and high cost for the approval of MRI compatible patient monitoring systems are one of the concerns restraining the growth of the MRI compatible patient monitoring system market. In addition, increasing government support and funding, and increasing healthcare awareness are also expected to drive the growth of the market in the upcoming period.

Market Classification and Overview

The market can be further bifurcated on the basis of age, price of equipment and geography. By age, the MRI compatible patient monitoring system market can be segmented into young, middle-aged, and senior citizen. By price of equipment, the MRI compatible patient monitoring system market can be segmented into high, and average, and others. On the basis of geography, MRI compatible patient monitoring system market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific. Overview, MRI compatible patient monitoring system helps in observing major signs of the patient during the scan of whole body structure in order to identify any emergency condition and physiological parameters which should be ignored during the scanning procedure. Major signs which are monitored with the help of these systems are mainly invasive pulse oximetry blood pressure - and electrocardiography). It is mainly used to ensure the patients basic body temperatureand cardiopulmonary parameters. Upsurge in geriatric population, increasing occurrence of chronic diseases, escalating number of diagnostic centers and hospitals, increasing lifestyle associated diseases, and increasing healthcare expenditure are driving the growth of this market.

Report Coverage

Market Participants

Some of the major market players involved in the MRI compatible patient monitoring system market include Schiller AG, Bayer AG, MIPM – Mammendorfer Institut für Physik und Medizin GmbH, General Electric Company, IRadimed Corporation, and Koninklijke Philips N.V. among others.

Market Segmentation

Market By Age

Young

Middle-Aged

Senior citizen

Market By Price of Equipment

High

Average

Market By Region

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

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

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa