• The market is poised to reach $6.8 billion by 2020.
• The market was valued at $5.09 billion in 2014.
• It is expected to grow at a compound annual growth rate of 5 percent from 2015 to 2020.
• Factors such as rising aging population and technological advancement — such as superconducting magnets, open architecture, high-field MRI and software applications — are the major drivers of this market.
• High cost of MRI systems, declining reimbursement rates for MRI procedures and shortage of helium gas deposits are hindering the growth of this market.
• In 2014, North America accounted for the largest share of the MRI systems market, followed by Asia.
• Major players operating in the market are GE Healthcare, Hitachi Medical, Philips Healthcare, Siemens Healthcare and Toshiba Medical Systems.
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