MRI Compatible Patient Monitoring Systems Market Potential Growth, Share, Demand And Analysis Of Key Players, Forecasts To 2027
The magnetic resonance imaging (MRI) is an imaging technique designed to visualize internal structures of the body using magnetic and electromagnetic fields which induce a resonance effect of hydrogen atoms. MRI compatible patient monitoring systems are the modules used to monitor and examine physiological parameters such as vital signs, heart rate, blood oxygen levels, blood pressure, and blood sugar. The use of MRI compatible patient monitoring systems improves the quality of care and life which allows early prediction and detection of exacerbations while ongoing MRI procedure. The MRI compatible patient monitoring systems are technologically modified and equipped with safety features, such as alarms or other operator alerts that are intended to activate in the event of a problem.
The advancements in the MRI compatible patient monitoring systems and the increasing awareness about the safety benefits of advanced MRI compatible patient monitoring systems such as non-magnetic systems over the conventional patient monitoring systems worldwide, which is expected to bolster the growth of the global MRI compatible patient monitoring systems market.
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The global MRI compatible patient monitoring systems market is expected to register a significant CAGR over a forecast period. Globally, increasing prevalence of MRI diagnosis of an ageing population is one of the key factors, which drives the global MRI compatible patient monitoring systems market over the forecast period 2017-2027. Increasing demand for large volume patient treatment and monitoring during MRI procedures owing to the growing access to the compatible medical services is also the important factor fuelling the revenue growth of the global MRI compatible patient monitoring systems market.
The favorable government policies for start-up companies such as medical device manufacturers and new manufacturing setups for production capacity expansion by the leading manufacturers in developing economies is also anticipated to fuel the growth of this market over the forecast period. The increasing spending on healthcare per capita in both developing and developed economies such as U.S., Canada, France, Germany, China, and India is also anticipated to propel the growth of the global MRI compatible patient monitoring systems market.
In addition to that, the increasing strategic collaborations among key players for the geographical expansion and patent transfer of the MRI compatible patient monitoring systems also expected to drive the growth of the global MRI compatible patient monitoring systems market.
However, Product recall and safety concerns due to the adverse events associated with the use of patient monitoring in MRI settings including numerous injuries and deaths may hamper the growth of the global MRI compatible patient monitoring systems market. The stringent rules and regulations by the U.S. Food and Drug Administration such as (FDA) 510 (K) for MRI compatible patient monitoring systems and the European Commission for new product launches and its marketing and sales activities, may hinder the growth of the global MRI compatible patient monitoring systems market. The higher price of MRI compatible patient monitoring systems may also become a cost restraint for the global MRI compatible patient monitoring systems market over the forecast period.
Some of the market players in MRI compatible patient monitoring systems market globally include iRadimed Corporation, Fresenius Kabi AG, B. Braun Melsungen AG, Becton, Dickinson Company (CareFusion), Smiths Medical (Smiths Group plc.), Baxter International Inc., and Arcomed AG, PULSION Medical Systems SE, LiDCO Group plc, CAS Medical Systems, Deltex Medical Group Plc., Philips Medical Systems, GE Healthcare, Draeger Medical, Inc., Schwarzer Cardiotek GmbH, and Tensys Medical, Inc.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Mri Compatible Patient Monitoring Systems Market
The global MRI compatible patient monitoring systems market is segmented on the basis of product type, modality type, application, and end user.
On the basis of product type, the global MRI compatible patient monitoring systems market is segmented into:
- Magnetic Devices
- Non-magnetic Devices
On the basis of modality type, the global MRI compatible patient monitoring systems market is segmented into:
On the basis of application, the global MRI compatible patient monitoring systems market is segmented into:
- Blood Glucose Monitoring
- EEG and ECG Monitoring
- Capnography Monitoring
- Spirometer Monitoring
- Sleep Apnea Monitoring
- Pulse Oxymeter Monitoring
- Fetal Doppler Monitoring
- Multi-parameter Monitoring
- Weight Monitoring
- Temperature Monitoring
On the basis of end user, the global MRI compatible patient monitoring systems market is segmented into:
- Ambulatory Surgical Centers
- Diagnostics Centers
- Emergency Medical Services
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- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
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