GBIME0101MR MRI Systems Market to 2020 sample 1-3,5-9… · Chapter two provides a brief overview of MRI systems. Chapter three provides definitions of high-field, mid-field, and

MRI Systems Market to 2020 - Focus on Patient Comfort and Operational Efficiency, with

Growth Driven by Developing Economies

Report Code: GBIME0101MR Published: April 2015

MEDTECH

© GBI Research. This is a licensed product and is not to be photocopied

GBIME0101MR / Published APR 2015 Page 2

GBI Research Report Guidance

Chapter two provides a brief overview of MRI systems.

Chapter three provides definitions of high-field, mid-field, and low-field systems, all of which are terms used in this report.

Chapter four provides information on market size for the 2006–2013 historical period and the 2013–2020 forecast period. It also covers market trends; market dynamics, comprising drivers and restraints; and the competitive landscape.

Chapter five discusses high-field, low-field and mid-field MRI systems, with market size information for the 2006–2013 historical period and the 2013–2020 forecast period for each segment.

Chapter six gives market size information for the 2006–2013 historical period and the 2013–2020 forecast period for the US, Canada, the UK, France, Germany, Italy, Spain, Japan, China, India, Australia and Brazil, with cross-country analysis. This report does not include refurbished systems.

Chapter seven profiles the leading companies in the global MRI systems market, along with each company’s products, features and benefits.

Chapter eight focuses on pipeline products in various categories. The key pipeline products are listed and discussed in detail and product approval and expected launch dates are provided where available.

Chapter nine discusses the consolidation landscape in the MRI systems industry, looking at deals that took place between 2010 and 2014.



Executive Summary

Global MRI Market to See Significant Growth during the Forecast Period

The following figure shows the projected revenue growth of the global Magnetic Resonance Imaging (MRI) market during the 2013–2020 forecast period.

MRI Systems Market, Global, Revenue Growth, 2013–2020

Market scenario Base-year market size (2013)

Projected market size (2020)

Historical CAGR Forecast CAGR

Market share of top five companies Extent of technical change

Source: GBI Research, Proprietary Database

CAGR: Compound Annual Growth Rate

The global MRI market was valued at $XX billion in 2013, and is forecast to exceed $XX billion by 2020, increasing at a CAGR of XX%, fueled by aging populations, rising incidence of non-communicable diseases, low penetration of MRI in developing countries, increasing awareness of MRI, and potential advantages over other imaging modalities. Rapid technology advancement is expected to be witnessed in the design, hardware and software of MRI systems, some of which will swiftly change the market landscape.

Increasing Incidence of Cancer to be a Major Driver for the MRI Market

The global incidence of cancer increased from XX million in 2008 to XX million in 2012. The number of new cases is expected to grow from XX million per year in 2012 to XX million in the next two decades, representing an increase of around XX%. The increase in incidence rates will be higher in low- and middle-income countries (WHO, 2015a). Additionally, a report by French researchers suggests that incidence is expected to increase by XX% in developed countries and XX% in developing countries by 2030 (Bray et al., 2012). MRI has a major application in cancer detection and progress monitoring, and so its increased use as a diagnostic modality will drive the MRI market.

Developing Economies Emerging as a Potential Market

Developing economies such as India, China, and Brazil will lead the growth of the MRI market in the coming decade. Major factors for market growth in these countries include the low density of MRI systems compared with Organization for Economic Co-operation and Development (OECD) standards, improved health infrastructure, rising awareness, and the growing middle classes. All of the developing markets are in need of cost-effective systems, and the MRI market in China and India is expected to increase by more than three times in the forecast period.

The global MRI market was valued at $XX billion in 2013, and is forecast to exceed $XX billion by 2020, increasing at a CAGR of XX%.



1 Table of Contents

1 Table of Contents .............................................................................................................................................5 1.1 List of Tables ......................................................................................................................................... 7 1.2 List of Figures ........................................................................................................................................8

2 Introduction ........................................................................................................................................................9 3 Global MRI Systems Market: Definitions .................................................................................................... 10

3.1 High-Field MRI Systems .................................................................................................................... 10 3.2 Mid-Field MRI Systems ...................................................................................................................... 10 3.3 Low-Field MRI Systems ..................................................................................................................... 10

4 MRI Systems: Global Market Characterization ........................................................................................... 11 4.1 Global MRI Systems Market, Revenue, 2006–2020.................................................................... 11 4.2 MRI Systems Market, Global, Key Company Shares, 2013 ........................................................ 12 4.3 MRI Systems Market, Key Trends.................................................................................................... 13

4.3.1 Superconducting Magnets Preferred to Permanent Magnets .......................................... 13 4.3.2 Migration to Higher Field Strengths ....................................................................................... 14 4.3.3 Specialty MRI Systems .............................................................................................................. 14 4.3.4 Patient Comfort Becoming a Top Priority ............................................................................. 15 4.3.5 Simplifying Machine Design but Enhancing Performance................................................. 15 4.3.6 Technologies using Minimal Helium ...................................................................................... 15 4.3.7 Hybrid MRI Systems Gaining Popularity in Specialized Care............................................ 15 4.3.8 Energy Efficient Systems on the Rise .................................................................................... 16 4.3.9 Local Manufacturing is Preferred in Three out of Four Markets that are Poised to

Witness Strong Growth in the Forecast Period.................................................................... 16 4.4 Market Dynamics ................................................................................................................................ 17

4.4.1 Market Drivers ............................................................................................................................ 17 4.4.2 Market Restraints ....................................................................................................................... 18

5 Global MRI Systems Market: Segment Analysis and Forecasts ........................................................... 20 5.1 High-Field MRI Systems Market, Global, Revenue and Volume, 2006–2020 ...................... 20 5.2 Mid-Field MRI Systems Market, Global, Revenue and Volume, 2006–2020 ......................... 21 5.3 Low-Field MRI Systems Market, Global, Revenue and Volume, 2006–2020 ....................... 22

6 Global MRI Systems Market: Country Analysis and Forecasts ............................................................. 23 6.1 MRI Systems Market: Cross-Country Analysis ............................................................................. 23 6.2 Historical and Forecast Revenue and Volume, by Country ...................................................... 24

6.2.1 MRI Systems Market, US, Revenue and Volume, 2006–2020 ....................................... 24 6.2.2 MRI Systems Market, Canada, Revenue and Volume, 2006–2020............................... 26 6.2.3 MRI Systems Market, Brazil, Revenue and Volume, 2006–2020 ................................... 27 6.2.4 MRI Systems Market, Germany, Revenue and Volume, 2006–2020 ............................ 29 6.2.5 MRI Systems Market, France, Revenue and Volume, 2006–2020 ................................. 31 6.2.6 MRI Systems Market, Italy, Revenue and Volume, 2006–2020 ..................................... 33 6.2.7 MRI Systems Market, Spain, Revenue and Volume, 2006–2020 .................................. 35 6.2.8 MRI Systems Market, UK, Revenue and Volume, 2006–2020 ........................................37 6.2.9 MRI Systems Market, Japan, Revenue and Volume, 2006–2020 .................................. 39 6.2.10 MRI Systems Market, Australia, Revenue and Volume, 2006–2020 .............................. 41 6.2.11 MRI Systems Market, China, Revenue and Volume, 2006–2020 .................................. 43 6.2.12 MRI Systems Market, India, Revenue and Volume, 2006–2020 .................................... 45

7 Global MRI Systems Market: Company Profiles....................................................................................... 48 7.1 Comparison of Leading MRI Systems ........................................................................................... 48

7.1.1 Comparison of Leading 1.5 T MRI Systems, 2015 .............................................................. 48 7.1.2 Comparison of Leading 3.0 T MRI Systems, 2015 ............................................................. 49

7.2 Siemens Healthcare.......................................................................................................................... 49 7.2.1 Business Overview ................................................................................................................... 49



7.2.2 Marketed Products ................................................................................................................... 50 7.3 GE Healthcare .................................................................................................................................... 50

7.3.1 Business Overview ................................................................................................................... 50 7.3.2 Marketed Products ................................................................................................................... 50

7.4 Philips Healthcare .............................................................................................................................. 51 7.4.1 Business Overview .................................................................................................................... 51 7.4.2 Marketed Products .................................................................................................................... 51

7.5 Toshiba Medical Systems ................................................................................................................. 51 7.5.1 Business Overview .................................................................................................................... 51 7.5.2 Marketed Products .................................................................................................................... 51

7.6 Hitachi Medical .................................................................................................................................. 52 7.6.1 Business Overview ................................................................................................................... 52 7.6.2 Marketed Products ................................................................................................................... 52

7.7 Esaote .................................................................................................................................................. 52 7.7.1 Business Overview ................................................................................................................... 52 7.7.2 Marketed Products ................................................................................................................... 52

8 Global MRI Systems Market: Product Pipeline Analysis ......................................................................... 53 8.1 Overview ............................................................................................................................................. 53 8.2 MRI Systems Market: List of Pipeline Products ........................................................................... 54 8.3 MRI Systems Market: Profiles of Key Pipeline Products ............................................................ 56

8.3.1 High-Field MRI Systems .......................................................................................................... 56 8.3.2 Mid-Field MRI Systems ............................................................................................................ 59 8.3.3 Low-Field MRI Systems ........................................................................................................... 60 8.3.4 Functional MRI Systems .......................................................................................................... 60 8.3.5 MRI Coils..................................................................................................................................... 62

9 Global MRI Systems Market: Consolidation Landscape......................................................................... 64 9.1 Overview, 2006–2014 ...................................................................................................................... 64 9.2 Key Acquisition Deals, 2010–2014................................................................................................. 65

9.2.1 MESA Acquires Spintech, November 28, 2014 .................................................................. 65 9.2.2 Box Acquires MedXT, October 10, 2014 .............................................................................. 65 9.2.3 MESA Acquires Stake in MVS, September 12, 2014 .......................................................... 66 9.2.4 BC Technical Acquires Polaris Medical Imaging, August 29, 2014 ................................ 66 9.2.5 Tranzbyte Acquires Marketing Rights from Hurricane Enterprises, September 11, 2012

...................................................................................................................................................... 66 9.2.6 GE Healthcare Acquires Steady State Imaging, April 14, 2011 ......................................... 66 9.2.7 GE Healthcare Acquires MRI Technology Assets from ONI Medical Systems,

November 6, 2009 ................................................................................................................... 66 9.3 Key Partnership Deals, 2010–2014 ................................................................................................ 67

9.3.1 Imricor Enters into Licensing Agreement with Sorin, October 9, 2014 .......................... 67 9.3.2 GE Healthcare Enters into Co-marketing Agreement with CorTechs Labs for

NeuroQuant, May 13, 2014 ...................................................................................................... 67 9.3.3 Analogic Enters into Distribution Agreement with D&K for BioJet System, April 9, 2014

...................................................................................................................................................... 67 9.3.4 MRI Interventions Enters into Co-development Agreement with Siemens Medical

Solutions, February 21, 2014 ................................................................................................... 67 9.3.5 CorTechs Labs Extends Distribution Agreement with Invivo for NeuroQuant, February

4, 2014 ........................................................................................................................................ 68 9.3.6 IMRIS Enters into Technology Integration Agreement with Stryker, October 8, 2013 68 9.3.7 Invivo Enters into Co-development Agreement with iCAD for MRI Solutions, March 11,

2013 ............................................................................................................................................. 68 9.3.8 Bioventus Enters into Agreement with Esaote North America for Diagnostic

Ultrasound and MRI Solutions, October 2, 2012 ................................................................ 68



9.3.9 Aurora Imaging Technology Enters into Distribution Agreement with Sumec for Dedicated Breast MRI System, July 20, 2012 ..................................................................... 69

9.3.10 Aspect Enters into Agreement with Bruker for MRI Systems, April 2, 2012 .................. 69 9.3.11 iCAD Enters into Distribution Agreement with Carestream, December 12, 2011 ......... 69 9.3.12 iCAD Enters into Distribution Agreement with Hitachi, October 31, 2011 ...................... 69 9.3.13 Trivitron Healthcare Enters into Co-marketing Agreement with Hitachi, August 25,

2011 .............................................................................................................................................. 69 9.3.14 Aspect Enters into Co-development Agreement with CAGE Chemicals and University

of Turin, June 29, 2011 ............................................................................................................. 70 9.3.15 Bayer Vital Enters into Agreement with Vital Images, March 23, 2011 ........................... 70 9.3.16 Amerinet Enters into Agreement with Toshiba America Medical Systems, February 2,

2011 .............................................................................................................................................. 70 9.3.17 Varian Enters into Agreement with IMRIS, October 5, 2010 ............................................ 70 9.3.18 Medipattern Enters into Agreement with Sentinelle, November 30, 2009 .................. 70

10 Appendix .......................................................................................................................................................... 71 10.1 Abbreviations ...................................................................................................................................... 71 10.2 Bibliography ........................................................................................................................................ 71 10.3 Research Methodology .................................................................................................................... 72

10.3.1 Secondary Research ................................................................................................................ 72 10.3.2 Primary Research .......................................................................................................................73 10.3.3 Models .........................................................................................................................................73 10.3.4 Forecasts .....................................................................................................................................73 10.3.5 Expert Panel................................................................................................................................74

10.4 Contact Us ...........................................................................................................................................74 10.5 Disclaimer ............................................................................................................................................74

1.1 List of Tables

Table 1: MRI Systems Market, Global, Revenue ($bn), 2006–2020 .................................................11 Table 2: MRI Systems Market, Global, Key Company Share by Region (%), 2013 .............................13 Table 3: High-Field MRI Systems Market, Global, Revenue and Volume, 2006–2020 ....................20 Table 4: Mid-Field MRI Systems Market, Global, Revenue and Volume, 2006–2020 .....................21 Table 5: Low-Field MRI Systems Market, Global, Revenue and Volume, 2006–2020 .....................22 Table 6: MRI Systems Market, Global, Cross-Country Analysis, 2006–2020 ...................................23 Table 7: MRI Systems Market, US, Revenue ($m) and Volume, 2006–2020 ...................................25 Table 8: MRI Systems Market, Canada, Revenue ($m) and Volume, 2006–2020 ...........................26 Table 9: MRI Systems Market, Brazil, Revenue ($m) and Volume, 2006–2020 ...............................28 Table 10: MRI Systems Market, Germany, Revenue ($m) and Volume, 2006–2020 .........................30 Table 11: MRI Systems Market, France, Revenue ($m) and Volume, 2006–2020 .............................32 Table 12: MRI Systems Market, Italy, Revenue ($m) and Volume, 2006–2020 .................................34 Table 13: MRI Systems Market, Spain, Revenue ($m) and Volume, 2006–2020 ...............................36 Table 14: MRI Systems Market, UK, Revenue ($m) and Volume, 2006–2020 ...................................38 Table 15: MRI Systems Market, Japan, Revenue ($m) and Volume, 2006–2020 ..............................40 Table 16: MRI Systems Market, Australia, Revenue ($m) and Volume, 2006–2020 ..........................42 Table 17: MRI Systems Market, China, Revenue ($m) and Volume, 2006–2020 ...............................44 Table 18: MRI Systems Market, India, Revenue ($m) and Volume, 2006–2020 ................................46 Table 19: Siemens Healthcare, Key Marketed Products, 2014 ............................................................50 Table 20: GE Healthcare, Key Marketed Products, 2014 .....................................................................50 Table 21: Philips Healthcare, Key Marketed Products, 2014 ...............................................................51 Table 22: Toshiba Medical Systems Corporation, Key Marketed Products, 2014...............................51 Table 23: Hitachi Medical Corporation, Key Marketed Products, 2014 ...............................................52 Table 24: Esaote, Key Marketed Products, 2014..................................................................................52 Table 25: MRI Systems, Global, List of Pipeline Products, 2014 ..........................................................54 Table 26: MRI Systems, Global, List of Pipeline Products, 2014 ..........................................................55 Table 27: MRI Coils, Global, List of Pipeline Products, 2014 ................................................................55



Table 28: 11.7T MRI System, Product Status, 2014 ...............................................................................56 Table 29: MAGNETOM 11.7T System, Product Status, 2014 .................................................................56 Table 30: MAGNETOM 10.5T System, Product Status, 2014 ...............................................................56 Table 31: MAGNETOM 9.4T Wide Bore MRI System, Product Status, 2014 .......................................57 Table 32: MAGNETOM 7T MRI, Product Status, 2014 ..........................................................................57 Table 33: GE 7.0T MRI Scanner, Product Status, 2014 ........................................................................57 Table 34: MAGiC, Product Status, 2014................................................................................................58 Table 35: Neonatal MRI Scanner, Product Status, 2014.......................................................................58 Table 36: SIGNA PET/MR, Product Status, 2014 ..................................................................................58 Table 37: SIGNA Pioneer, Product Status, 2014...................................................................................59 Table 38: 1.5T Breast MR System, Product Status, 2014 ......................................................................59 Table 39: Multiva 1.5T MRI System, Product Status, 2014 ....................................................................59 Table 40: LC Scan, Product Status, 2014 ..............................................................................................60 Table 41: PoleStar MRI Scanner, Product Status, 2014 ........................................................................60 Table 42: ClearSight Systems, Product Status, 2014 ...........................................................................60 Table 43: Functional Connectivity MRI, Product Status, 2014..............................................................61 Table 44: MRI Device - Blood-Brain Barrier Abnormalities, Product Status, 2014 ...............................61 Table 45: MRI-Guided Breast Biopsy Device, Product Status, 2014 ....................................................61 Table 46: Magnesium Diboride MRI System, Product Status, 2014 .....................................................62 Table 47: MRI Coil - Organ Viability, Product Status, 2014 ..................................................................62 Table 48: Pediatric MRI Coil, Product Status, 2014 ..............................................................................62 Table 49: RF Spine Coil - 7T MRI System, Product Status, 2014 ..........................................................63

1.2 List of Figures

Figure 1: MRI Systems Market, Global, Revenue ($bn), 2006–2020 .................................................11 Figure 2: MRI Systems Market, Global, Key Company Share by Region (%), 2013 .............................12 Figure 3: High-Field MRI Systems Market, Global, Revenue and Volume, 2006–2020 ....................20 Figure 4: Mid-Field MRI Systems Market, Global, Revenue and Volume, 2006–2020 .....................21 Figure 5: Low-Field MRI Systems Market, Global, Revenue and Volume, 2006–2020 .....................22 Figure 6: MRI Systems Market, Global, Cross-Country Analysis, CAGR (%), 2006–2020..................23 Figure 7: MRI Systems Market, US, Revenue ($m) and Volume, 2006–2020 ...................................24 Figure 8: MRI Systems Market, Canada, Revenue ($m) and Volume, 2006–2020 ...........................26 Figure 9: MRI Systems Market, Brazil, Revenue ($m) and Volume, 2006–2020 ...............................27 Figure 10: MRI Systems Market, Germany, Revenue ($m) and Volume, 2006–2020 .........................29 Figure 11: MRI Systems Market, France, Revenue ($m) and Volume, 2006–2020 .............................31 Figure 12: MRI Systems Market, Italy, Revenue ($m) and Volume, 2006–2020 .................................33 Figure 13: MRI Systems Market, Spain, Revenue ($m) and Volume, 2006–2020 ...............................35 Figure 14: MRI Systems Market, UK, Revenue ($m) and Volume, 2006–2020 ...................................37 Figure 15: MRI Systems Market, Japan, Revenue ($m) and Volume, 2006–2020 ..............................39 Figure 16: MRI Systems Market, Australia, Revenue ($m) and Volume, 2006–2020 ..........................41 Figure 17: MRI Systems Market, China, Revenue ($m) and Volume, 2006–2020 ...............................43 Figure 18: MRI Systems Market, India, Revenue ($m) and Volume, 2006–2020 ................................45 Figure 19: MRI Systems Market, Comparison of Leading 1.5 T MRI Systems, 2015 .............................48 Figure 20: MRI Systems Market, Comparison of Leading 3.0 T MRI Systems, 2015 ............................49 Figure 21: MRI Systems Market, Global, Pipeline Analysis (%), 2014 ....................................................53 Figure 22: MRI Systems Market, Global, Pipeline Analysis, 2014 ..........................................................53 Figure 23: MRI Systems Market, Global, Type and Number of Deals, 2006–2014 ..............................64 Figure 24: MRI Systems Market, Global, Volume and Value ($m) by Deal Type, 2006–2014 .............65



2 Introduction

Magnetic Resonance Imaging (MRI) is a non-invasive, painless, diagnostic, radiology technique used to diagnose a wide range of medical conditions. It uses a powerful magnetic field and pulses of Radiofrequency (RF) waves to provide computer-generated images of the internal structures of the body. MRI systems enable radiologists to determine abnormalities more accurately than with Computed Tomography (CT), ultrasound, or X-ray, and offer the added advantages of detailed image quality and lack of ionizing radiation. MRI equipment is typically a tube or bore surrounded by a circular magnet, along with a movable platform or bed that takes the patient through the tube or bore. A strong magnetic field aligns the protons of the hydrogen atoms in all the tissues, which are then activated with pulses of radio waves that spin the aligned protons. While these protons return to their normal state, they generate a very weak electrical signal, which is captured as an image by a computer. Different tissues of the body produce different signals that help to differentiate elements such as the soft tissue, muscles, fat and bone. For some procedures, contrast agents are used to enhance image accuracy and quality.

MRI is widely used in investigating the brain, spine, heart, breasts, joints, lungs and liver, either to rule out surgery or to understand and plan surgery in a more targeted way. However, with advances in MRI technology, it is also used for detecting physiological abnormalities of the body, although to a limited extent compared with Positron Emission Tomography (PET) scan technology.

There are no anatomical or physiological risks known to be associated with this technique, as it is painless, non-invasive, and does not use ionizing radiation. However, people with internal metal objects (such as dental clips, hearing aids, pace makers, aneurysm clips, and surgical clips) or external metal objects may face challenges as the magnetic field can cause forceful dislocation, causing anatomical defects or external injuries.

In tube MRI systems, claustrophobic patients may feel anxiety or discomfort, and obese patients may not physically fit in the traditional MRI bore opening. To address these issues, open-design MRIs, or MRIs with wider bore sizes are being developed. Noise levels produced during the MRI procedure are traditionally quite high, and recent advances in technology are addressing this issue by lowering these levels considerably. There are rapid technological advancements happening in the MRI market with a focus on image quality, patient comfort and cost effectiveness.



4 MRI Systems: Global Market Characterization

4.1 Global MRI Systems Market, Revenue, 2006–2020

The following figure and table show the revenues generated by the global MRI market over the 2006–2020 period.

Figure 1: MRI Systems Market, Global, Revenue ($bn), 2006–2020

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Rev

enue

($bn

)

Mid-field MRI systems High-field MRI systems Low-field MRI systems


Table 1: MRI Systems Market, Global, Revenue ($bn), 2006–2020

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Historical CAGR

(%)

Forecast CAGR

(%)

Revenue



The global MRI systems market was valued at $XX billion in 2006, and grew to $XX billion in 2013 at a CAGR of XX%. This market is expected to reach $XX billion by 2020, at a CAGR of XX%, driven by developing markets where penetration is low and by increasingly elderly populations that account for higher healthcare expenditure in developed economies. The major growth drivers in emerging economies have been lower penetration, higher affordability, and increased government focus on healthcare. Technology advancements and increased applications are the major driving factors in the replacement and saturated markets.

The global MRI systems market was valued at $XX billion in 2006, and grew to $XX billion in 2013 at a CAGR of XX%. This market is expected to reach $XX billion by 2020, at a CAGR of XX%.



8 Global MRI Systems Market: Product Pipeline Analysis

8.1 Overview

There are XX pipeline products in the MRI market segment, including MRI systems, coils, applications, software platforms, and functional systems. In next five years, the R&D and commercial objectives in the MRI market space will be aimed at enhancing products that are age-specific and application-specific.

A look at the MRI products in the pipeline reveals a focused effort on creating niche application-specific and age-specific MRI systems that are not currently available in the market. MRI for neonatal use is one of the interesting pipeline products that are in the early stages of development. GE Healthcare is developing Neonatal MRI Scanner, which is expected to be approved for commercial use by December 2017.

Figure 21: MRI Systems Market, Global, Pipeline Analysis (%), 2014

A) Stage of development for pipeline products

Early development Pre-clinicals Clinicals In approval process

B) Estimated year of approval for pipeline products

2015 2016 2017 2018 2019 2020

Source: GBI Research Proprietary Database [Accessed December 18, 2014]

Figure 22: MRI Systems Market, Global, Pipeline Analysis, 2014

High-field MRI systems

Mid-field MRI systems

Low-field MRI systems

Num

ber o

f pro

duct

s

A) MRI equipment in pipeline

Top industry players

Universities & institutions

Start-up and mid level industry

players

Num

ber o

f org

aniz

atio

ns

B) Organizations involved in developing pipeline

Source: GBI Research Proprietary Database [Accessed December 18, 2014]

Approximately XX% of MRI products in the pipeline are in the clinical stage of development and will be put forward for regulatory approval soon, indicating new products in the immediate future.



10 Appendix

10.1 Abbreviations

BBB: Blood-Brain Barrier


CE: Conformité Européenne

CMRO2: Cerebral Metabolic Rate of Oxygen consumption

CMS: Center for Medicare and Medicaid Services

CT: Computed Tomography

DSV: Diameter of Spherical Volume

GE: General Electric

HIFU: High-Intensity Focused Ultrasound

K: Kelvin

MR: Magnetic Resonance

MRI: Magnetic Resonance Imaging

msec: millisecond

NHS: National Health Service

OECD: The Organization for Economic Co-operation and Development

PET: Positron Emission Tomography

RF: Radiofrequency

SNR: Signal-to-Noise Ratio

T: Tesla

TMSC: Toshiba Medical Systems Corporation

10.2 Bibliography

Bray F, et al. (2012). Global cancer transitions according to the Human Development Index (2008–2030): a population-based study. The Lancet Oncology; 13(8): 790-801

Earls E (2011). Top ten green medical devices. Medicaldevice-network.com. Available from: http://www.medicaldevice-network.com/features/feature128184/ [Accessed on March 9, 2015]

Government Accountability Office (2012). Higher use of advanced imaging services by providers who self-refer costing Medicare millions. Government Accountability Office. Available from: http://www.gao.gov/assets/650/648988.pdf

Harvey D (2014). Technology update: MRI — expanding MR’s clinical utility. Radiology Today; (15)2: 14

Internet World Stats (2014). The world population and the top ten countries with the highest population. Internet World Stats. Available from: http://www.internetworldstats.com/stats8.htm [Accessed on March 9, 2015]

ITN Online (2015). Comparison charts. Imaging Technology News. Available from: http://www.itnonline.com/comparison-charts?t=MRI+Systems%2C+1.0+Tesla+or+higher [Accessed on March 9, 2015]

Magnetica (2010). Today’s MRI market. Magnetica. Available from: http://www.magnetica.com/page/innovation/todays-mri-market/ [Accessed on January 16, 2015]



Mayo Clinic (2012). Uterine fibroids. Mayo Clinic. Available from: http://www.mayoclinic.com/health/uterine-fibroids/DS00078 [Accessed on March 9, 2015]

OECD (2013). Health at a glance 2013: OECD Indicators. Organization for Economic Co-operation and Development. Available from: http://www.oecd.org/els/health-systems/Health-at-a-Glance-2013.pdf

Seaman AM (2013). Breast MRI use increasing among U.S. women. Reuters. Available from: http://www.reuters.com/article/2013/11/19/us-breast-mri-idUSBRE9AI14W20131119 [Accessed on February 17, 2015]

Sterbak R (2007). Pictures of the Future Fall 2007. Siemens. Available from: http://www.siemens.com/innovation/en/publikationen/publications_pof/pof_fall_2007/materials_for_the_environment/energy_demand.htm [Accessed on March 09, 2015]

Stock News Now (2014). Cutting Edge Superconductors Inc.: Bringing next generation cryogen-free 1.5T MRI to market next year, 2015. Stock News Now. Available from: http://stocknewsnow.com/commentary/ANEWSID25112014100003/Cutting-Edge-Produces-MgB2-Powders-Wires-Tapes-for-MRI [Accessed on January 23, 2015]

Toshiba (2014). Magnetic resonance imaging (Vantage Elan [function]). Toshiba. Available from: http://www.toshibamedicalsystems.com/tmd/english/products/mri/elan_function.html [Accessed on March 9, 2015]

US Census Bureau (2009). Census Bureau Reports World's Older Population Projected to Triple by 2050. US Census Bureau. Available from: http://www.census.gov/newsroom/releases/archives/international_population/cb09-97.html [Accessed on January 5, 2012]

WHO (2013). Latest world cancer statistics. Global cancer burden rises to 14.1 million new cases in 2012: Marked increase in breast cancers must be addressed. World Health Organization. Available from: http://www.iarc.fr/en/media-centre/pr/2013/pdfs/pr223_E.pdf

WHO (2015a). Cancer fact sheet N°297. World Health Organization. Available form: http://www.who.int/mediacentre/factsheets/fs297/en/ [Accessed on February 12, 2015]

WHO (2015b). Noncommunicable diseases: Fact sheet (Updated January 2015). World Health Organization. Available from: http://www.who.int/mediacentre/factsheets/fs355/en/ [Accessed on March 04, 2015]

10.3 Research Methodology

GBI Research’s dedicated research and analysis teams consist of experienced professionals with advanced statistical expertise and marketing, market research and consulting backgrounds in the medical devices industry.

GBI Research adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and Strategic and Competitive Intelligence Professionals (www.scip.org).

All GBI Research databases are continuously updated and revised. The following research methodology is followed for all databases and reports.

10.3.1 Secondary Research

The research process begins with extensive secondary research using internal and external sources to gather qualitative and quantitative information relating to each market.

The secondary research sources that are typically referred to include, but are not limited to:

Company websites, annual reports, financial reports, broker reports, investor presentations and US Securities and Exchanges Commission (SEC) filings

Industry trade journals, scientific journals and other technical literature

Internal and external proprietary databases

Relevant patent and regulatory databases



National government documents, statistical databases and market reports

Procedure registries

News articles, press releases and web-casts specific to the companies operating in the market

10.3.2 Primary Research

GBI Research conducts hundreds of primary interviews a year with industry participants and commentators in order to validate its data and analysis. A typical research interview fulfills the following functions:

Provides first-hand information on market size, market trends, growth trends, competitive landscape and future outlook

Helps to validate and strengthen secondary research findings

Further develops the analysis team’s expertise and market understanding

Primary research involves email correspondence, telephone interviews and face-to-face interviews for each market, category, segment and sub-segment across a range of geographies.

The participants who typically take part in the process include, but are not limited to:

Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers

Distributors, paramedics and representatives from hospital stores, laboratories and pharmacies

Outside experts: investment bankers, valuation experts, research analysts specializing in specific medical equipment markets

Key opinion leaders: physicians and surgeons that specialize in the therapeutic areas in which specific medical equipment is used

10.3.3 Models

Where no hard data are available, GBI Research uses modeling and estimates in order to produce comprehensive data sets, for which the following rigorous methodology is adopted:

Available hard data is cross-referenced with the following data types to produce estimates:

Demographic data: population, split by segment

Macroeconomic indicators: Gross Domestic Product (GDP) and inflation rate

Healthcare indicators: health expenditure, physician base, healthcare infrastructure and facilities

Selected epidemiological and procedure statistics

Data is then cross-checked by the expert panel.

10.3.4 Forecasts

GBI Research uses proprietary forecast models, which utilize the following factors:

Historical growth rates

Macro indicators such as population trends and healthcare spending

Forecast epidemiological data

Qualitative trend information and assumptions

Data is then cross-checked by the expert panel.



10.3.5 Expert Panel

GBI Research uses a panel of experts to cross-verify its databases and forecasts.

GBI Research’s expert panel includes marketing managers, product specialists, international sales managers from medical device companies, academics from research universities, key opinion leaders from hospitals, consultants from venture capital funds and distributors/suppliers of medical equipment and supplies.

Historical data and forecasts are relayed to GBI Research’s expert panel for feedback and adjusted accordingly.

10.5 Disclaimer

All Rights Reserved.

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher, GBI Research.

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GBIME0101MR MRI Systems Market to 2020 sample 1-3,5-9… · Chapter two provides a brief overview of MRI systems. Chapter three provides definitions of high-field, mid-field, and