Magnetic Resonance Imaging MRI Systems Market

Magnetic Resonance Imaging Systems Market Size

The global magnetic resonance imaging systems market size was valued at USD 6.5 billion in 2024 and is estimated to grow at 6.2% CAGR from 2025 to 2034. Magnetic resonance imaging (MRI) is a radiological technique that uses the uses the strong magnetic field and radio waves to form complex imaging of the inside body. It is a form of diagnosis that does not involve making an incision into the body and yields images of soft parts of the body with high clarity.

The increasing prevalence of chronic diseases, thus fueling the demand for MRI systems. Cardiovascular diseases, cancer, neurological, and musculoskeletal disorders are some of the health problems that non-invasive MRI technology can help to diagnose and monitor. The World Health Organization (WHO) estimates that those aged 80 and older will reach an astounding 322 million by the year 2050, and a large share will be from middle and lower-income countries.

Statistics point out that around 95% of U.S. citizens aged 60 and above have at least one chronic disease. Moreover, people aged 65 and older are expected to reach 80.8 million by 2060. This deep-rooted issue of having multiple chronic diseases enhances the need for MRIs as precision in diagnostics, thus making it easier to treat complicated diseases. This also explains the need to develop and enhance MRI systems considering the booming elderly around the world.

Moreover, an increase in the significance of early diagnosis is propelling expansion within the MRI systems market in Europe and Northern America. This effort is being aided by governmental public health initiatives aimed at educating the overall public about the advantages associated with the early intervention of health issues.

Magnetic Resonance Imaging Systems Market Trends

• In developed markets, the expansion of the MRI systems industry has been facilitated by improvements in technology that have optimized scan times, optimized imaging quality, and made room for personalized care.
  

• Recent advances in hardware and data acquisition have improved treatment planning and diagnostic accuracy by accelerating data gathering and creating more intricate images.
  

• Advanced MRI systems with higher magnetic field strengths have revolutionized imaging contrast described in a cardiac workflow and increased imaging capabilities for lungs, while non-MRI conditional implantable devices such as ScanWise software from Philips have started automatic protocols for embedded patients.
  

• Furthermore, to increase the appeal of MRI systems to large patients, wide systems have been developed, while hybrid systems that combine CT or PET scanners with MRI systems have stimulated the market by allowing higher-quality personalized care and better results for the patient. Thus, escalating the market growth.
  

Magnetic Resonance Imaging Systems Market Analysis

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Based on architecture, the market is divided into open system and closed system. The closed MRI systems segment is projected to grow at a 6.2% CAGR throughout the forecast period.

• Closed MRI systems with completely enclosed cylinders have various advantages such as high-quality images, low external interference, and low motion artifacts giving them the advantage of being suitable for detailed imaging and precision diagnostics.
  
• Technology originating from recent developments has resulted in the design of more spacey closed MRI systems with shortened scan periods to tackle issues of claustrophobia.
  
• Especially, the increasing use of closed MRI systems for various clinical purposes including neurological, musculoskeletal imaging, and oncology such systems are widely performed.
  
• Thus, with more healthcare units focusing on enhanced imaging systems, the sales of closed MRI systems are likely to increase which will offer the growth of the segment.

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Based on field strength, the magnetic resonance imaging systems market is bifurcated into low field strength, mid field strength, and high field strength. In 2024, the high field strength MRI segment captured a revenue share of 36.9%, a trend expected to continue in the coming years.

• The capacity of high gamma devices to produce detailed structure images also justify that the high fidelity MRI estimate system preference which disguises as operating above 1.5 T. These systems have improved the image quality, enabling doctors to better comprehend anatomical structures and disease processes.
  
• Further, technological developments in high field strength MRI, image quality distortion has been improved, and scan times have shortened.
  
• Therefore, it is likely that high-field strength MRI systems will be able to penetrate and acquire market share in the field of sleep medicine and general imaging, cardiology diagnostics, and more, thus confirming their large steady share in the market for the next years.
  

Based on application, the magnetic resonance imaging systems market is bifurcated into oncology, neurology, musculoskeletal, vascular, gastroenterology, cardiology, and other applications. In 2024, the oncology segment represented a 27.5% revenue share, highlighting MRI technology’s critical role in delivering precise, detailed imaging essential for diagnosing, staging, and planning cancer treatments.

• The revenue share observed in this category show that MRI is to a large extent used in cancer procedures, further confirming this is the aids that soft tissues require in imaging the tissues and any presence of abnormality that may be there.
  
• The growing need for MRI in cancer care greatly proves its non-invasive detailed imaging character which provides a significant aid to medical personnel in making the most appropriate decision for the treatment of the cancer sufferers.
  
• The noted trend sheds light on an imperative aspect of the growing role that MRI is likely to play in improving the quality of cancer diagnostics while at the same time enhancing the place of MRI amongst other medical devices.
  

Based on end use, the market is bifurcated into hospitals, imaging centers, ambulatory surgical centers, and other end users. In 2024, hospitals accounted for a substantial portion of the MRI systems market revenue, reaching USD 4 billion.

• This prominence is due to hospital’s key role as central healthcare providers. MRI systems find extensive applications in hospital-based diagnosis for common modalities such as neuro, musculoskeletal, cardio, and oncology imaging.
  
• There is also a trend towards using higher-end imaging equipment in tandem with the integrated working environment of hospitals meaning MRI systems are greatly effective for diagnosis.
  
• In addition, since hospitals are being able to meet the government targets around providing a good standard of care, this segment’s percentage share of the market revenue is expected to keep high as a reflection of the fact that hospitals remain important sites for improving medical imaging technology for better patient care and outcome.

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• The U.S. magnetic resonance imaging systems market is projected to grow significantly, reaching USD 4 billion by 2034.
  
• The diagnostics market in the U.S. continues to be focused on new generation equipment. As hospitals, imaging facilities, and other healthcare centers are constantly changing their medical equipment for the latest technologies, centrifuge systems are becoming crucial to the diagnosis infrastructure, which will enhance the growth of this market.
  

The magnetic resonance imaging systems market in UK is expected to experience significant and promising growth from 2025 to 2034.

• The UK, such as the majority of the developed world, is witnessing a rise in the elderly population. According to the UK Parliament’s House of Commons, approximately 12.7 million senior citizens aged 65 and older resided in the UK in 2022, which accounted for close to 19% of the entire population. The Office for National Statistics (ONS) estimates that the population of this group may reach 22.1 million by 2072, which will account for 27% of the overall population.
  
• There is an increase in the prevalence of many age-related conditions, such as cancer, cardiovascular ailments, and other neurological disorders, with the increase in the older population. The growing demand for advanced imaging technologies in the region is fueled by the rising number of such conditions that require effective diagnosis and monitoring that can be achieved using advanced MRI systems.
  

Japan magnetic resonance imaging systems market is anticipated to witness lucrative growth between 2025 – 2034.

• Japan is known for its strong technological capabilities, and this extends to its healthcare sector. Advancement in MRI systems, such as high field strengths, faster scans, and high-resolution imagery, will likely gain attention in the future since they can enhance location precision and more accurate imaging of the affected body part, and this necessary for managing the life and health of a person.
  

The market in Saudi Arabia is expected to experience significant and promising growth from 2025 to 2034.

• The dynamic growth rate that has been observed in the MRI systems market in Saudi will be as a result of better patient recruitment measures, such as the increased number of private medical care firms providing specialized diagnostic equipment to clients. The private medical care also includes the MRI systems, and through this, there will be a further demand for family healthcare centers that will expand and incorporate better diagnostic solutions.
  

Magnetic Resonance Imaging Systems Market Share

The market for MRI systems is competitive, which includes both major international corporations as well as smaller companies. In consideration of a company, it is necessary to consider its investment in new MRI technologies, such as high-field strength machines, improved imaging resolution, and AI-based software solutions to support accuracy and scan efficacy. Also, joint efforts with healthcare professionals and institutions are the necessity of these innovations as well as their broadening of the market.

Simultaneously, regulatory endorsements and quicker approval timelines aid in speeding up the process of adoption of the new technologies in the MRI systems market, in response to the increasing need for appropriateness concerning safe, non-invasive diagnostic methods that are inexpensive. All of which are essential in boosting the firms’ competitiveness within the ever-growing market for MRI Systems.

Magnetic Resonance Imaging Systems Market Companies

Some of the eminent market participants operating in the magnetic resonance imaging systems industry include:

• Aurora Imaging Technologies
• Esaote
• Fonar
• FUJIFILM
• GE HealthCare Technologies
• Koninklijke Philips
• Neusoft Medical Systems
• Sanrad Medical Systems
• Siemens Healthineers
• Toshiba
  

USP For Top Players:

• GE HealthCare Technologies is well known for their latest MRI machines with AI imaging technology that allow scans to be faster, images to be clear, and improve comfort during the scan.
  
• Koninklijke Philips is present in a great part of the market, fostering innovations and patient-focused technologies.
  
• Siemens Healthineers advanced magnet technology and smart workflows are the, guaranteeing accuracy, effectiveness, and flexibility in MRI diagnosis.
  

Magnetic Resonance Imaging Systems Industry News:

• In December 2023, Siemens Healthineers launched the MAGNETOM Cima.X, a groundbreaking 3T MRI system, in Canada, following its Health Canada licensing. This release aimed to extend its market presence, strengthening Siemens Healthineers' competitive position in the Canadian market.
  
• In November 2023, Royal Philips launched its inaugural mobile MRI system, BlueSeal MR Mobile, featuring helium-free operations at RSNA23. This 1.5T fully sealed magnet prioritized patient-centric MRI services. The product launch helped Philips to extend accessible, sustainable, and helium-free MRI exams to diverse locations, stimulating the company's revenue.
  

The magnetic resonance imaging systems market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2034 for the following segments:

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Market, By Architecture 

• Open system
• Closed system

Market, By Field Strength

• Low field strength
• Mid field strength
• High field strength             

Market, By Application

• Oncology
• Neurology
• Musculoskeletal
• Vascular
• Gastroenterology
• Cardiology
• Other applications

Market, By End use

• Hospitals
• Imaging centers
• Ambulatory surgical centers
• Other end users      

The above information is provided for the following regions and countries:

• North America 
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Russia
  • Poland
  • Switzerland
  • Netherlands 
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Thailand
  • Indonesia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile 
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Israel