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Philips Partners with DiA Imaging Analysis

Royal Philips and DiA Imaging Analysis Ltd., a provider of AI-powered applications for ultrasound, have announced a strategic partnership* to deliver automated solutions to clinicians at the point-of-care.

Philips spotlights new solutions at ECR 2021

Royal Philips has announced its participation in the European Congress of Radiology (ECR) virtual event, March 3-7, 2021, where the company will feature new and enhanced diagnostic and interventional solutions that further expand its Radiology Workflow Suite, connecting data, technology and people across the imaging enterprise.

Epsilon Imaging Partners with Siemens Healthineers

Epsilon Imaging, a visualization and analysis software provider transforming cardiac diagnostic workflow with strain imaging, has announced a partnership with Siemens Healthineers, a leading developer of medical imaging and information management solutions, to offer syngo Dynamics users EchoInsight visualization and analysis with strain imaging.

iRad Announces a Distributorship Agreement with FUJIFILM Medical Systems

iRad, Innovative Radiology Equipment Sales and Services, LLC has announced a distributorship agreement with FUJIFILM Medical Services.

MRI Product Spotlight: Market Forecast to Reach $8 Billion

Magnetic resonance imaging (MRI) is a radiology technique health care providers use to diagnosis, assess and treat medical conditions. It uses strong magnetic field, radio frequency pulses and a computer to produce detailed image of internal body structures.

These scans can be used to examine musculoskeletal injuries, sports injuries, alignments of brain, vascular abnormalities, prostrate problem, female pelvic problem, gastrointestinal tract condition, soft tissue and bone pathology or condition and some ear, nose and throat conditions.

A report from BCC Research predicts continued growth for the medical MRI market.

“The global market for MRI systems reached $5.8 billion in 2015. The market should reach nearly $6.1 billion and $8 billion in 2016 and 2021 respectively, growing at a compound annual growth rate (CAGR) of 5.7 percent from 2016 to 2021,” according to BCC Research. “The North American market for MRI systems should reach $3.1 billion in 2021 and $2.4 billion in 2016, growing at a CAGR of 5.4 percent from 2016 to 2021. The MRI systems market in the Asia-Pacific region should reach nearly $2.1 billion in 2021 from $1.5 billion in 2016, growing at a CAGR of 7.3 percent from 2016 to 2021.”

MarketsandMarkets forecasters also expect continued growth.

“The market should reach nearly $6.1 billion and $8 billion in 2016 and 2021 respectively, growing at a compound annual growth rate (CAGR) of 5.7 percent from 2016 to 2021.”

“The global MRI systems market is projected to reach $7.19 billion by 2021 from $5.61 billion in 2016, at a CAGR of 5.1 percent from 2016 to 2021,” according to MarketsandMarkets.

The global MRI market is expected to grow at a compound annual growth rate (CAGR) of 5 percent during 2016-2022, according to a report from P&S Market Research.

“Based on architecture, the open MRI segment is expected to witness the faster growth during the forecast period, at a CAGR of 7.8 percent in the global market. Among the various field strengths, the high field MRI segment is expected to witness the fastest growth during the forecast period,” according to the report.

Several factors are powering the market’s continued growth.

“The global magnetic resonance imaging market is growing at a significant rate, due to growing geriatric population, increasing prevalence of chronic diseases such as cancer, lung diseases and rheumatoid arthritis, increasing incidence of injuries, increasing awareness about early diagnosis, and increasing health care expenditure,” according to P&S Market Research. “In addition, the improving health care infrastructure in developing countries, such as China and India, and technological advancement in MRI are also driving the growth of the global MRI market. The restraints associated with the growth of the global MRI market include stringent regulations for the approval of MRI devices, high cost and lack of trained professionals, and shortage of helium gas deposits.”

North America is expected to maintain its dominance in the global market of magnetic resonance imaging through 2022, according to the report.

“This is due to increasing health care expenditure, growing geriatric population, improved health care infrastructure, and growing prevalence of chronic diseases. In addition, the increasing research activity for the advancement of imaging technology is also driving the growth of the North American market,” according to P&S Market Research.

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