With the development of open systems, magnetic resonance imaging (MRI) has evolved into the best imaging procedure for many organs and structures, including the brain, spine, bones, and joints, leading MRI equipment to become a $3.5 billion worldwide industry, according to a study released today from Kalorama Information (New York).

The report, “Medical Imaging Markets, Volume II: Magnetic Resonance,” projects the global market to continue to grow with anticipated revenues topping $4 billion in 2010.

Expected increases in the use of interventional MRI in brain surgery, along with greater use of MRI diffusion imaging to diagnose strokes and other injuries to the brain, should be key growth factors. Additionally, while cardiac MRI is not expected to replace all other interventional cardiology procedures, cardiac MRI is also expected to grow substantially in clinical use over the next decade, according to the report

Also, the report found, the future of MRI is shifting towards functional imaging, which images the body in real time, much like ultrasound. In addition to cardiac and neurological applications, functional imaging also allows MRI to be used for the study of peripheral blood flow and orthopedics.