The MRI equipment market is becoming increasingly competitive, according to a recently published report from Orem, Utah-based KLAS Research.
According to report, four primary vendors--Siemens, GE, Philips and Toshiba--as well as Hitachi, essentially are engaged in an MRI "arms race" in an effort to stand out and lead the market.
"We see providers shifting their focus to patient-comfort features and more advanced applications such as cardiac MRI," report author Brady Heiner said in an announcement. "With this new focus, there is great opportunity for a vendor to differentiate itself and emerge as a leader in the market."
For example, according to the report, Siemens has become the leader when it comes to cardiac MRI, while GE is making a mark its quiet technology, Silent Scan.
According to KLAS, GE healthcare has received praise for more communicative sales and contracting, although there is "room to improve nickel-and-diming as they price more aggressively."
Philips, meanwhile, is garnering accolades for its dStream coils. "Bringing the digitization to the coil has improved ease of use and image quality, and combined with a less- expensive upgrade process to higher-channel coils, users feel the coils are worth the cost," according to the report.
A report published last May determined that the MRI market is expected to grow by almost 5 percent annually over the next five years. According to the report, the market is expected to reach $5.24 billion by 2018.