Global Magnetic Resonance Imaging (MRI) systems market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2032

Magnetic Resonance Imaging (MRI) systems market Size    

• The global Magnetic Resonance Imaging (MRI) systems market size was valued at USD 4.13 billion in 2024 and is expected to reach USD 5.76 billion by 2032, at a CAGR of 4.25% during the forecast period
• This growth is driven by factors such as the increasing prevalence of chronic diseases, advancements in MRI technology, rising demand for early diagnosis, and expanding healthcare infrastructure worldwide

 Magnetic Resonance Imaging (MRI) systems market Analysis

• Magnetic resonance imaging (MRI) is an imaging technology which is used to diagnose the diseases or health concerns in the body
• Magnetic resonance imaging scanners uses electromagnetic radiation to develop images of the body. Its applications are widespread in terms of diagnosis, aftermath of diseases, identification of phase of disease
• North America is expected to dominate the Global Magnetic Resonance Imaging (MRI)s market due to advanced healthcare infrastructure and with a high number of MRI systems per capita
• Asia-Pacific is expected to be the fastest growing region in the magnetic resonance imaging (MRI) systems market during the forecast period due to Increasing geriatric population leading to higher demand for diagnostic imaging
• Closed MRI systems segment is expected to dominate the market with a market share of 76.10% due to its high prevalence and demand for precision. As the leading procedure for vision restoration, advancements in surgical techniques and microscope technologies enhance outcomes

Report Scope and Magnetic Resonance Imaging (MRI) systems market Segmentation       

 Magnetic Resonance Imaging (MRI) systems market Trends

“Integration of Artificial Intelligence (AI) in MRI Systems”

• AI algorithms assist in analyzing complex MRI images, leading to more accurate and timely diagnoses 
  • For instance, AI-driven tools can detect subtle abnormalities that may be overlooked by human radiologists 
• AI integration streamlines the image acquisition and interpretation processes, reducing scan times and increasing throughput in clinical settings
• By analyzing vast datasets, AI can help in tailoring individualized treatment strategies based on MRI findings
• AI models can predict disease progression by analyzing changes in MRI scans over time, aiding in proactive patient management
• The incorporation of AI is expected to drive the MRI systems market, with projections indicating significant growth in the coming years

 Magnetic Resonance Imaging (MRI) systems market Dynamics

Driver

“Increasing Prevalence of Chronic Diseases”

• Chronic conditions such as cancer, cardiovascular diseases, and neurological disorders are becoming more prevalent globally, increasing the demand for diagnostic imaging
• The global aging demographic contributes to a higher incidence of age-related chronic diseases, further driving the need for MRI diagnostics
• The growing number of patients with chronic diseases places additional pressure on healthcare systems, highlighting the necessity for advanced diagnostic tools such as MRI.​
• Early diagnosis through MRI can lead to better treatment outcomes and reduced healthcare costs in the long term
• The increasing burden of chronic diseases is a significant factor propelling the growth of the MRI systems market

Opportunity

“Expansion in Emerging Markets”

• Emerging economies are investing in healthcare infrastructure, creating opportunities for MRI system adoption 
  • For Instance, increased spending on healthcare in developing countries facilitates the procurement of advanced diagnostic equipment such as MRI systems 
• Improved awareness and accessibility to healthcare services in emerging markets drive the demand for diagnostic imaging
• Supportive government policies and initiatives aimed at enhancing healthcare services contribute to the growth of the MRI market in these regions
• The expansion of healthcare services in emerging markets presents significant growth opportunities for the MRI systems market

Restraint/Challenge

“High Cost and Limited Accessibility”

• The high cost of MRI systems makes them unaffordable for many healthcare facilities, particularly in low-resource settings
• Maintenance, operational expenses, and the need for specialized personnel add to the overall cost of MRI services  
  • For Instance, in many regions, especially rural and underserved areas, access to MRI facilities is limited, affecting timely diagnosis and treatment 
• Inadequate insurance coverage and reimbursement policies can deter healthcare providers from investing in MRI technology
• These challenges hinder the widespread adoption of MRI systems, particularly in developing countries, affecting market growth

 Magnetic Resonance Imaging (MRI) systems market Scope

The market is segmented on the basis of application, field strength, and architecture.

In 2025, the cataract surgery is projected to dominate the market with a largest share in architecture segment

The closed MRI system segment is expected to dominate the magnetic resonance imaging (MRI) systems market with the largest share of 76.10% in 2025 due to its high prevalence and demand for precision. As the leading procedure for vision restoration, advancements in surgical techniques and microscope technologies enhance outcomes.

The neurology is expected to account for the largest share during the forecast period in application market

In 2025, the neurology segment is expected to dominate the market with the largest market share due to its rising prevalence of neurological disorders such as Alzheimer's, Parkinson's, and multiple sclerosis. The ability of MRI to provide detailed, non-invasive imaging of the brain and spinal cord makes it an essential tool for diagnosing and monitoring these conditions.

 Magnetic Resonance Imaging (MRI) systems market Regional Analysis

“North America Holds the Largest Share in the Magnetic Resonance Imaging (MRI) systems market”

• North America magnetic resonance imaging market dominated the market with the largest revenue share of 37.1%
• U.S. Is expected to dominate the global magnetic resonance imaging (MRI) systems market, particularly in the North America region. This dominance is attributed to its presence of leading MRI system manufacturers and research institutions
• High prevalence of chronic diseases such as breast cancer, cardiovascular disorders, and neurological conditions. Advanced healthcare infrastructure with a high number of MRI systems per capita.
• Significant healthcare expenditure and favorable reimbursement policies. Presence of leading MRI system manufacturers and research institutions.​
• Integration of artificial intelligence (AI) and big data analytics in MRI systems.
• Development of high-field MRI systems offering superior image quality. Introduction of portable and open MRI systems catering to diverse patient needs.​
• Continued dominance expected due to ongoing investments in healthcare infrastructure and technological innovations.​

“Asia-Pacific is Projected to Register the Highest CAGR in the Magnetic Resonance Imaging (MRI) systems market”

• Increasing geriatric population leading to higher demand for diagnostic imaging. Rising prevalence of chronic diseases such as cancer and cardiovascular disorders.
• Government initiatives to enhance healthcare infrastructure and accessibility. Expansion of medical tourism, particularly in countries such as India and Thailand.​
• Adoption of advanced MRI technologies, including high-field and open MRI systems. Implementation of AI-driven diagnostic tools to improve imaging accuracy.
• Growth in private healthcare facilities equipped with state-of-the-art MRI systems Rapid expansion anticipated due to favorable demographic trends and increasing healthcare investments.

 Magnetic Resonance Imaging (MRI) systems market Share

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

The Major Market Leaders Operating in the Market Are:

• Siemens Healthcare Private Limited(Germany)
• GENERAL ELECTRIC(U.S.)
• Koninklijke Philips N.V.(Netherlands)
• Hitachi Ltd. (Japan)
• CANON MEDICAL SYSTEMS CORPORATION(Japan)
• Aspect Imaging (U.S.)
• Bruker (U.S.)
• Aurora Health Care (U.S.)
• Esaote SpA (Italy)
• FONAR (U.S.)
• Neusoft Corporation (China)
• Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (China)
• Shimadzu Corporation (Japan)
• Carestream Health (U.S.)
• Hologic Inc. (U.S.)
• Barco (Belgium)
• Nordion Inc (Canada)

Latest Developments in Global Magnetic Resonance Imaging (MRI) systems Market

• In March 2025, Polarean Imaging plc expanded its Xenon MRI imaging platform to support pharma-sponsored research. This expansion, in partnership with VIDA Diagnostics, included the introduction of a new service model to enable the use of the device in enhanced research applications
• In November 2023, GE Healthcare collaborated with The University of Wisconsin School of Medicine and Public Health at UW–Madison to expand the existing scope beyond medical imaging to the introduction of new digital technologies and disease-focused solutions
• In October 2023, Siemens Healthineers and Cardiff University formed a strategic partnership to advance medical technologies, building on their decade-long collaboration in diagnostics. The partnership focuses on imaging research and precision diagnostics, with Cardiff’s Brain Research Imaging Centre (CUBRIC) driving innovation in MR technology and brain mapping
• In June 2023, Imagion Biosystems Limited expanded its collaboration with Siemens Healthineers, extending its existing agreement with Siemens Healthcare Pty Ltd in Australia for 2 more years. The partnership now includes collaboration in the U.S. through Siemens Medical Solutions USA
• In April 2023, Siemens Healthineers expanded its manufacturing presence in India by launching an MRI facility in Bengaluru, supported by the Government of India’s PLI scheme. The company has also introduced a new production line at the Bengaluru facility for manufacturing MRI machines
• In November 2022, Siemens Healthineers (Germany) launched a new MRI system for mobile use. The Magnetom Viato.Mobile system is equipped with latest advancements and can be used anywhere.     

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