Magnetic Resonance Imaging (MRI) Systems Market Size

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 medical imaging technique that uses a strong magnetic field and radio waves to create detailed images of the inside of the body. It is a non-invasive diagnostic tool that provides high-resolution images of soft tissues, such as the brain, spine, joints, and internal organs.

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The expanding elderly population globally is fueling demand for MRI systems, as age-related and chronic health conditions become increasingly common. MRI technology, known for its non-invasive nature and precise imaging, is crucial for diagnosing and monitoring health issues prevalent among older adults, such as cardiovascular diseases, cancer, neurological disorders, and musculoskeletal conditions. The WHO projects that by 2050, the number of individuals aged 80 and above will triple, with a significant portion residing in low- and middle-income countries.
 

In the U.S., nearly 95% of adults over 60 manage at least one chronic condition, and the number of people aged 65 and older is expected to reach 80.8 million by 2060. This demographic trend, characterized by a high rate of multiple chronic conditions, underscores the necessity for advanced diagnostics such as MRI to address complex health needs. Therefore, the demand for MRI systems continues to rise to improve diagnostic precision and support healthcare management for the aging population.
 

Furthermore, the MRI systems market in North America and Europe is gaining momentum, stimulated by increasing awareness of the importance of early diagnosis. Public health initiatives led by governments in these regions have played a key role in educating people on the benefits of detecting and addressing health conditions in their early stages.