Global MRI monitoring Devices Market Revenue to Witness Rapid Growth in the Near Future

MRI monitoring Devices
MRI monitoring Devices
Press Release

The report on MRI monitoring Devices market published by Persistence Market Research covers valuable insights based on market valuation, market size, revenue forecast and regional outlook of this industry. The research also presents a precise summary of the industry’s competitive spectrum, while drawing attention to the growth prospects and expansion plans adopted by key market players.

Monitoring is the constant observation of patient’s vital signs in order to identify changes in physiological parameters as well as avoiding undesired events. MRI monitoring devices are specifically designed for use in magnetic resonance environments and thus removing the difficulty of transferring a patient to the MRI suite. These advanced systems helps in increasing MRI efficiency while decreasing the amount of time for critically ill patients from their care unit. These systems are developed with advanced features such as smart battery options, alarm system, touch screen option, light weight, remote controlling, point-of-care monitoring, wireless connectivity and long life. Continuous monitoring and support during MRI procedures is required for critically ill or high-risk patients, sedated or anesthetized patients, neonatal and pediatric patients as well as physically or mentally unstable patients. As medical staff are unable to stay for all the time with patient, these monitoring systems are designed in order to send the real time data from the bedside monitor to the control room for distance monitoring as part of patient safety.

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MRI monitoring devices are the result of IT integration in the healthcare system. These devices are designed for intra hospitals transfer of patients. The device can be a standalone monitor or integrated to other devices via network. Several versions are available for the device type by various companies from basic to advanced level. These MRI monitoring devices must comply the safety and compatibility requirement recommended by the FDA.

MRI monitoring Devices market: Drivers & Restraints

Several technical advantages as compared with the conventional systems for these MRI monitoring devices helps in driving the market growth. Increasing healthcare facilities, adoption of advanced equipments in healthcare systems and focus on increasing patient safety are the factors supporting the MRI monitoring devices market. Along with this, growth in the development of advanced sensors, increasing integration of IT in healthcare also fuels the market growth for MRI monitoring devices. Certain product recall, stringent regulatory approvals, hospital’s financial & budget constraints, lack of advanced medical facilities in various developing as well as under-developed nations are some of the factors restricting the market growth for these MRI monitoring devices.

MRI monitoring Devices market: Segmentation

By Product Type:

  • Basic MRI Monitoring Devices
  • Advanced MRI Monitoring Devices

By End Users:

  • Hospitals
  • Clinics
  • Diagnostic Centers

Conventional monitoring systems were not designed to operate in the magnetic resonance environment that uses electromagnetic fields. As MRI scanning have been recognized as the gold standard test for soft tissue imaging, there is a growing need for replacing the conventional monitoring systems with these novel MRI monitoring devices. Furthermore, wider availability and increasing use of MRI equipment also establishes a market for the adoption of these devices at the facilities such as in 2012, the number of MRI scans in the US has reached to 30.2 million procedures. With the advancement in MRI systems, there needs to be a continuous improvement in the MRI monitoring devices to achieve higher performance and meet the MRI compatibility requirements.

Geographically, the market for MRI monitoring Devices can be segmented into five regions, North America, Latin America, Europe, Asia Pacific and Middle East & Africa. North America dominates the global MRI monitoring Devices market due to the increasing adoption of advanced equipments in healthcare systems. Europe represents the next leading market owing to the high adoption of patient safety devices at their healthcare facilities. However, Asia-Pacific represents the highest growth rate in the coming years due to the improvements in healthcare infrastructure, increasing number of private hospitals, rising number of eligible patient population as well as increasing medical tourism. Latin America followed by MEA represents the least market share and growth rate in the MRI monitoring devices market over the forecast period.

Some major key players of MRI monitoring Devices market include General Electric Company, Koninklijke Philips N.V., IRadimed Corporation, MIPM GmbH, Bayer AG and others.

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The report covers exhaustive analysis on:

  • MRI monitoring Devices Market Segments
  • MRI monitoring Devices Market Dynamics
  • MRI monitoring Devices Historical Market Size
  • MRI monitoring Devices Market Size & Forecast
  • MRI monitoring Devices Market Current Trends/Issues/Challenges
  • MRI monitoring Devices Competition & Companies involved
  • MRI monitoring Devices Market Drivers and Restraints

Regional analysis includes:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Report Highlights:

  • Shifting Industry dynamics
  • In-depth market segmentation
  • Historical, current and projected industry size Recent industry trends
  • Key Competition landscape
  • Strategies of key players and product offerings
  • Potential and niche segments/regions exhibiting promising growth
  • A neutral perspective towards market performance