Magnetic Resonance Imaging Systems Market Size
The global Magnetic Resonance Imaging (MRI) Systems Market was valued at USD 7,004.15 million in 2024 and is expected to grow from USD 7,326.53 million in 2025 to USD 11,050.00 million by 2033, registering a CAGR of 5.3% during the forecast period. This growth is primarily driven by technological advancements such as AI integration, helium-free MRI innovations, and expanding diagnostic applications across chronic disease management.
AI has significantly enhanced MRI performance by improving diagnostic accuracy and reducing scan times, boosting adoption globally. Furthermore, increased demand is fueled by rising incidences of neurological, cardiovascular, and oncological disorders, along with advancements in healthcare infrastructure, especially in emerging economies.
Market Opportunities
Key opportunities lie in the development of helium-free MRI systems and lightweight, portable scanners aimed at improving accessibility and reducing operational costs. Additionally, hyperpolarized MRI technologies and advanced RF coils are opening avenues in precision imaging, particularly in oncology, cardiology, and neurology. These advancements are expected to expand MRI applications into metabolic and molecular imaging.
Growing investment in healthcare infrastructure across emerging markets like India, China, and Brazil and the expansion of government-backed cancer screening programs further present lucrative opportunities for manufacturers.
Market Trends
1. Shift Toward Outpatient Imaging Centers
The market is witnessing a migration from hospital-based MRI services to outpatient imaging centers due to cost-efficiency, convenience, and faster patient turnaround. Key players like RadNet are leading this shift by expanding outpatient facilities.
2. Growth in Helium-Free MRI Technologies
Companies such as Koninklijke Philips N.V. have installed over 1,000 BlueSeal helium-free MRI systems worldwide. These systems reduce installation complexity and operational costs, making them attractive in regions with limited resources.
3. Rising Volume of MRI Examinations
The increasing number of MRI scans globally, especially in Canada and the UK, reflects growing reliance on MRI for chronic disease detection. According to NIH, MRI exams in Canada rose by 4.3% from 2019-2023.
4. Expanding Clinical Applications
MRI is increasingly used beyond neurology and orthopedics into oncology, cardiology, gastrointestinal, and functional brain imaging—enhancing its importance in personalized medicine and early diagnosis.
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Market Challenges
High Capital and Operational Costs
MRI systems, especially high-field models, demand significant capital investment—posing a barrier in low-income regions. Installation and maintenance add further financial strain, slowing adoption despite rising demand.
Skilled Workforce Shortage
Advanced MRI modalities require specialized radiologists and technicians, and a shortage in developing markets hampers technology utilization.
Regional Analysis
North America
North America holds a dominant 38.6% market share, driven by robust healthcare infrastructure, leading medical device companies (GE HealthCare, Hyperfine, Inc.), and a high prevalence of chronic diseases. U.S. leads with innovation, supported by rising patent filings for MRI technologies.
Asia Pacific
The Asia Pacific region is projected to witness the fastest growth due to rising chronic disease cases, improving healthcare access, and government-backed diagnostic initiatives. Countries like China and India are witnessing increased domestic production and government investments in diagnostic infrastructure.
Europe
In Europe, growing demand stems from neurological disorder prevalence and innovations like the 7T MRI for epilepsy detection in the UK and pediatric MRI platforms in France.
Middle East and Africa
Growth in South Africa is driven by education initiatives and partnerships (e.g., Hyperfine, ISMRM, Gates Foundation) that enhance MRI training and deployment of portable devices.
Latin America
In Brazil, government-led cancer screening programs are expanding MRI demand, especially in underserved areas.
Market Segmentation Overview
By Type
Open Systems: Offer patient comfort but lower image resolution.
Closed Systems: Dominate the market due to higher magnetic strength and superior imaging capabilities essential for neurology and oncology diagnostics.
By Field Strength
Ultra High Field (7T and above): Niche applications, primarily research and neurology.
High Field (1.5T-3T): Widely adopted for routine clinical use in hospitals and imaging centers.
Low Field (below 1.5T): Gaining traction through portable systems and use in outpatient settings.
By Application
Neurology: Remains the leading segment due to MRI’s precision in brain imaging.
Oncology: Expected to grow fastest with rising cancer prevalence and use in tumor detection, staging, and monitoring.
Cardiology: Increasingly used for non-invasive cardiac assessments.
Musculoskeletal Diseases: Significant demand in orthopedic diagnostics.
Gastrointestinal Diseases & Others: Expanding through advancements in abdominal imaging.
By End User
Hospitals: Expected to grow fastest due to higher MRI installation rates and government investments.
Imaging Centers: Leading outpatient diagnostic growth due to demand for cost-effective imaging.
Others: Includes research institutions and mobile imaging providers.
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Impact of Global Crises
Recent global crises, including supply chain disruptions and healthcare system strain from pandemics, have accelerated demand for decentralized and portable imaging solutions. The shift toward outpatient imaging and adoption of cost-efficient helium-free systems has been further propelled by these crises.
Latest Developments
Recent Mergers, Collaborations, and Developments:
GE HealthCare: Continued investments in AI-enhanced MRI technologies.
Siemens Healthineers AG: Invested USD 150 million to expand U.S. facilities (May 2025).
Koninklijke Philips N.V.: Partnered with NVIDIA for AI-driven MRI advancements (May 2025).
FUJIFILM Holdings Corporation: Strengthened partnerships with the National Rural Health Association to enhance rural access (May 2025).
Hyperfine, Inc.: Expanded portable MRI systems in low-income regions in partnership with ISMRT and Gates Foundation.
Leading Companies:
- GE HealthCare
- Siemens Healthineers AG
- Koninklijke Philips N.V.
- CANON MEDICAL SYSTEMS CORPORATION
- Esaote SPA
- FUJIFILM Holdings Corporation.
- AURORA HEALTHCARE US CORP
- Shenzhen Anke High-tech Co., Ltd.
- MinFound Medical Systems Co., Ltd.
- Synaptive Medical
- ASG Superconductors spa
- Neusoft Medical Systems Co., Ltd.
- FONAR Corp.
- Medonica Co. LTD
- HYPERFINE, INC.
- Time Medical Holding
- Shanghai United Imaging Healthcare Co., LTD
- SternMed GmbH
- Kangda Intercontinental Medical Equipment Co, Ltd
- Magnetica Ltd
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