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MRI Systems Market Size

Report ID: GMI2140
Published Date: Apr 2023
Report Format: PDF

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MRI Systems Market Size

Magnetic Resonance Imaging (MRI) Systems Market size reached USD 7 billion in 2022. The industry is speculated to grow at around 5.5% CAGR from 2023 to 2032 driven by the increasing number of accidents in Asia Pacific and other emerging economies.

Magnetic Resonance Imaging (MRI) Systems Market

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Booming geriatric population in developed as well as developing economies is fueling the market progress. As a result of rising life expectancy and declining birth rates, countries including the U.S., Canada, Japan, India, China, and Brazil are contributing highly to the global senior population, which is poised to offer massive growth opportunities to the market due to their unique healthcare requirements and regular need for specialized services.

MRI Systems Market Report Attributes
Report Attribute	Details
Base Year:	2022
MRI Systems Market Size in 2022:	USD 7 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5.5%
2032 Value Projection:	USD 12 Billion
Historical Data for:	2018 to 2022
No. of Pages:	257
Tables, Charts & Figures:	338
Segments covered:	Architecture, Field Strength, Application, End-use, and Region
Growth Drivers:	Growing geriatric population in developed as well as developing economies Increasing chronic disease prevalence globally Growing awareness pertaining to early diagnosis in North America and Europe Technological advancements in MRI systems in developed economies Increasing number of accidents in Asia Pacific and other emerging economies
Pitfalls & Challenges:	Dearth of skilled professionals High cost of MRI system

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Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global market for magnetic resonance imaging systems was valued at USD 7 billion in 2022 and is primed to grow at a 5.5% CAGR between 2023 and 2032 propelled by the increasing number of accidents in Asia Pacific and other emerging economies.

Closed-system segment is poised to reach a valuation of over USD 11 billion by 2032 as a result of positive efforts by manufacturers to lower noise levels, boost scan rates, and use less power of these systems.

Hospitals end-use segment is anticipated to garner over USD 4 billion in revenue by 2032 owing to wide applicability in hospitals for diagnostic and therapeutic purposes to monitor the progression of diseases and the positive results of therapies over time.

North America magnetic resonance imaging systems market is slated to depict growth at over 5.5% CAGR from 2023 to 2032 on account of continuous emphasis on the development of technologies, especially in the fields of software and image processing in the region.