The MRI (Magnetic Resonance Imaging) in a non-invasive technique used to observe the images of organs under the influence of magnetic and radiofrequency waves. The technique is used to examine images of the heart, blood vessels and affected areas with the help of a computer, which enhances the productivity and quality of images. Cardiac Magnetic Resonance Imaging produces images of the structure and demonstrates the function of cardiac chambers within the heart. Also, for evaluation of the heart, the device quantifies blood flow through cardiac valves. MRI testing does not use ionizing radiations such as X-rays or computed tomography (CT). Moreover, it determines abnormal heart muscles and checks damage due previous heart attacks.
Blockage of coronary arteries, which is the major cause of heart attacks, can also be diagnosed with the test. The use of cardiac MRI testing includes detection of aortic diseases, ischemic heart diseases, pericardial diseases, cardiac masses, valvular heart diseases and congenital heart diseases. The radio frequencies used for cardiac MRI testing realign the existing hydrogen atoms in the body without causing any chemical changes in the tissues and emit different amounts of energy that vary as per the type of body tissue, while the MRI captures the energy and creates and generates the picture of the tissue, which is then processed by the computer screen.
Factors Driving the Cardiac MRI Testing Market
Deaths due to cardiac diseases are most common in developed as well as developing countries. The cardiac MRI testing market is driven by the increasing number of cases of heart diseases, which include valvular heart diseases, congenital heart diseases and heart attacks. According to a CDC (Center for Disease), about 40,000 babies are diagnosed with congenital heart diseases annually in the U.S. Advancement in technology with computer-aided diagnosis and development of IT in healthcare with increasing support from governments is providing a push for the growth of the market. On the other hand, inadequate reimbursement policies and strict regulatory compliance with the high cost of MRI examinations may slow down the growth of the market.
While cardiac MRI testing is a painless technique with no exposure to ionizing radiations, in certain cases, the dye used in the process can cause allergic reactions. Also if the patients have metal implants or pacemakers due to previous surgeries or injuries, they have to be reprogrammed so that they do not interrupt the process as testing of cardiac MRI involves metals. These factors are responsible and aggravate the medical and R&D departments to overcome the deficiencies for better alternatives in the cardiac MRI testing market.
Regional Market Outlook
North America, following Europe, is expected to witness robust growth due to advancements in technology, infrastructure and availability of imaging systems for the diagnosis of heart diseases. Other than the prime markets, emerging economies such as Asia pacific are expected to grow with high rates along with the increasing geriatric population, which is demanding imaging modalities in the region. Also, services at cheaper costs, expert healthcare staff and advanced facilities are creating growth opportunities for the cardiac MRI testing market. Governments across many countries are providing support and better healthcare facilities to cater to the growing population, which is contributing to the growth of the cardiac Imaging testing market.
Examples of some of the major players in the cardiac MRI testing market are GE Healthcare, Siemens Healthcare and Philips Healthcare.
By End User
- Diagnostics Laboratories
- Diagnostic Imaging centers
- North America
- Latin America
- Asia Pacific Excluding Japan
- Middle East & Africa
Key Data Points Covered in Report
The report covers exhaustive analysis on:
- The Cardiac MRI Testing Market by composition, product type, end user and region
- Regional level market analysis of North America, Latin America, Europe, Asia Pacific Excluding Japan, Japan, Middle East & Africa by test type, end-use segments and country
- The Cardiac MRI Testing Market Dynamics & Opportunity Assessment
- Historical Actual Market Size, 2013 – 2017
- The Cardiac MRI Testing Market Size & Forecast 2018 – 2026
- The Urethral Stricture Treatment Market Current Trends/Issues/Challenges
- Competition & Companies involved
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- Shifting industry dynamics
- In-depth market segmentation
- Historical, current and projected industry size, recent industry trends
- Key competition landscape, market structure, regulatory scenario
- Epidemiology outlook for diseases
- Economical spending, regional healthcare outlook, consumer healthcare expenditure
- Availability of procedure, cost of stents, specificity and sensitivity of test
- Strategies for key players and product offerings, channel strategies, regional foot print, channel footprint
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance in terms of value and volume