Forecast Period | 2026-2030 |
Market Size (2024) | USD 259.05 Million |
Market Size (2030) | USD 346.82 Million |
CAGR (2025-2030) | 4.81% |
Fastest Growing Segment | High-Field MRI Systems |
Largest Market | West India |
Market Overview
India Magnetic Resonance Imaging Market was valued at USD 259.05 Million in 2024 and is anticipated to reach USD 346.82 Million by 2030, with a CAGR of 4.81% during 2025-2030.
The India Magnetic Resonance Imaging (MRI) market is being propelled by
several key factors. The increasing prevalence of chronic diseases such as
cancer, neurological disorders, and cardiovascular ailments has driven the
demand for advanced diagnostic tools like MRI scanners. This trend is further
bolstered by rising healthcare infrastructure investments and a growing
awareness among both healthcare providers and patients regarding the benefits
of early and accurate diagnosis.
Technological advancements in MRI technology,
including the development of high-field strength magnets and better image
resolution, are enhancing diagnostic capabilities and expanding the market. Favorable
government initiatives aimed at improving healthcare access and affordability,
along with a burgeoning medical tourism sector, are contributing to the
market's growth. As a result, the India MRI market is poised for continued
expansion, driven by these converging factors that prioritize better healthcare
outcomes and diagnostic precision.
Key Market Drivers
Rise in Abdominal Problems
Early detection of heart disease is critical in India, where cardiovascular diseases are responsible for more than 2 million deaths annually. Among the array of medical instruments available for cardiovascular diagnostics, magnetic resonance imaging (MRI) devices stand out due to their ability to provide detailed soft-tissue images that are essential for accurate diagnosis. MRI technology operates by utilizing powerful magnetic pulses, often from 1.5 Tesla or 3.0 Tesla magnets, to manipulate the billions of water molecules within the body.
These pulses cause the molecules to temporarily align and then return to their original positions, emitting signals that are captured by the MRI machine. The machine processes these signals into highly precise, cross-sectional images of the heart and its surrounding tissues, offering unparalleled clarity in detecting structural abnormalities, assessing blood flow dynamics, and evaluating tissue viability within minutes.
The precision and detail provided by MRI enable healthcare providers to detect cardiovascular diseases at their earliest stages, facilitating prompt intervention and personalized treatment strategies. This capability is critical in a nation with a high disease burden and drives the preference for MRI in cardiovascular diagnostics, with installations now expanding beyond major metropolitan areas into Tier-2 and Tier-3 cities. Consequently, the demand for MRI scanners continues to grow as awareness spreads among India's over 1.2 million registered doctors and the public about the benefits of early detection.
Supportive government policies, such as the Production-Linked Incentive (PLI) scheme for medical device manufacturing and the Ayushman Bharat health insurance program covering over 500 million beneficiaries, further stimulate market expansion. These factors collectively position MRI as a cornerstone in the fight against cardiovascular diseases, underscoring its pivotal role in improving health outcomes across India.
Early Detection of Cardiovascular Diseases
Early detection of heart disease is crucial for extending life expectancy and improving health outcomes in India, where cardiovascular ailments contribute to a significant number of fatalities each year. Medical instruments play a vital role in this process, with magnetic resonance imaging (MRI) devices being particularly effective when traditional methods fall short in providing the detailed soft-tissue images necessary for diagnosing heart conditions.
MRI technology utilizes powerful magnetic pulses, often from 1.5 Tesla or 3.0 Tesla machines, to manipulate water molecules, which make up a substantial part of the human body. These pulses cause the molecules to temporarily realign and then return to their original positions, emitting signals that are captured and translated by the MRI machine into highly precise images of the heart and surrounding tissues in a process that can take as little as 30 to 60 minutes.
The ability of MRI to provide such detailed images is pivotal for the early detection of cardiovascular diseases in a country with a vast population. By detecting structural abnormalities, blood flow dynamics, and tissue viability with unparalleled clarity, MRI enables India's more than 1.2 million doctors to initiate timely interventions and personalized treatment plans. This capability not only enhances patient outcomes but also drives the preference for MRI in cardiovascular diagnostics, thereby contributing to the expansion of MRI installations, which now number in the thousands across the country.
As awareness grows among both healthcare professionals and the general population about the benefits of early detection, the demand for MRI scanners continues to rise. This increasing demand, coupled with supportive government policies like the Production-Linked Incentive (PLI) scheme for medical devices and the Ayushman Bharat program covering over 500 million beneficiaries, further propels market growth, making MRI a cornerstone in the fight against cardiovascular diseases.
Growing Health Expenditure
According to the Economic Survey 2021-22, the
Indian government significantly boosted its budgeted expenditure on the health
sector during the pandemic year, allocating 2.1% of GDP compared to 1.3% in the
previous fiscal year. This
increase aligns with the National Health Policy of 2017's target of achieving
2.5% of GDP in health spending by 2025. Such augmented funding underscores a
concerted effort to enhance healthcare infrastructure, including the
procurement of advanced medical equipment such as MRI systems.
The government's Production Linked Incentive (PLI)
scheme plays a pivotal role in fostering domestic manufacturing capabilities in
India, particularly in the medical devices sector. By incentivizing local
production, including MRI systems, the PLI scheme not only aims to reduce
dependency on imports but also promotes the "Made in India"
initiative. This strategic approach not only enhances self-sufficiency but also
augments the value proposition of the India MRI market by ensuring quality,
affordability, and accessibility of medical devices for healthcare providers
and patients alike. As a result, these initiatives are expected to contribute
positively to the growth trajectory of the India MRI market in the coming
years.
Rise in Prevalence of Chronic Diseases
The India MRI market is anticipated to experience
steady growth in the coming years, driven by sustained demand from hospitals,
clinics, diagnostic and imaging centers, and ambulatory surgical facilities.
This demand is primarily fueled by the rising incidence of chronic diseases
such as cancer, chronic lung diseases, cardiovascular disorders, and similar
conditions. As healthcare awareness among the population increases, there is a
growing emphasis on preventive health measures and early diagnosis, which
further supports the market's expansion.
Advancements in MRI technology,
including improved imaging resolution and faster scan times, are enhancing
diagnostic capabilities and attracting more healthcare providers to invest in
MRI systems. The government's initiatives aimed at improving healthcare
infrastructure and accessibility also play a crucial role in driving market
growth. Overall, these factors collectively contribute to a promising outlook
for the India MRI market in the foreseeable future.
Download Free Sample Report
Key Market Challenges
Cost and Accessibility
One of the primary challenges in the India MRI
market is the cost of equipment and accessibility to advanced MRI technology.
While MRI is essential for accurate diagnosis and treatment planning, the high
initial investment and operational costs associated with MRI systems pose a
significant barrier, particularly for smaller healthcare facilities and rural
clinics. The cost of MRI machines, including installation, maintenance, and
upgrading to newer technologies, can be prohibitive for healthcare providers
operating under budget constraints.
The operational expenses, such as electricity and
helium costs (for superconducting magnets), contribute to the overall cost of
MRI services. These factors collectively affect the affordability of MRI scans
for patients, limiting access to timely diagnostic evaluations, especially in
underserved regions.
Skilled Workforce Shortage
Another significant challenge in the India MRI
market is the shortage of skilled professionals, including radiologists, MRI
technologists, and biomedical engineers, capable of operating and maintaining
MRI systems effectively. The complexity of MRI technology requires specialized
training and expertise in image acquisition, interpretation, and quality
assurance.
The demand for skilled MRI professionals has
outpaced the supply due to factors such as inadequate training infrastructure,
limited educational programs offering specialized MRI courses, and the
migration of trained professionals to countries offering better career
opportunities. This shortage not only impacts the quality and efficiency of MRI
services but also contributes to delays in reporting and diagnosis, affecting
patient care outcomes.
Key Market Trends
Technological Advancements and Innovation
Technological advancements in MRI systems are
driving significant changes in the Indian market. Modern MRI machines now
feature higher field strengths, such as 3 Tesla and even 7 Tesla systems, which
offer improved image resolution and faster scan times. These advancements are
crucial for enhancing diagnostic accuracy and efficiency, particularly in
complex cases such as neurological disorders, cardiac imaging, and oncology. For
instance in August 2023, Union Minister of State for Science &
Technology, launched India’s inaugural indigenously developed, affordable,
lightweight, ultrafast, high-field (1.5 Tesla), next-generation Magnetic
Resonance Imaging (MRI) Scanner in New Delhi.
With the introduction of this
indigenous MRI scanner, the cost of MRI scanning is expected to decrease
significantly for the general public, thereby enhancing accessibility to what
has traditionally been a costly procedure. This development will also lead to substantial
reductions in capital expenditure previously incurred through the procurement
of MRI scanners from international markets, consequently conserving foreign
exchange reserves. Innovations in software algorithms and imaging
techniques, such as functional MRI (fMRI) and diffusion-weighted imaging (DWI),
further expand the diagnostic capabilities of MRI systems.
The integration of artificial intelligence (AI) and
machine learning (ML) into MRI analysis is another notable trend. AI-powered
algorithms can assist radiologists in interpreting images more accurately and
efficiently, leading to faster diagnosis and reduced turnaround times. This
trend is expected to gain traction as AI technologies continue to mature and
healthcare providers seek to optimize workflow and diagnostic accuracy.
Focus on Affordable Healthcare Solutions
There is a growing emphasis on developing
affordable MRI solutions tailored to the needs of the Indian market. Domestic
manufacturers and global suppliers are introducing cost-effective MRI systems
that balance performance with affordability, catering to both urban healthcare
facilities and rural healthcare centers. Initiatives such as the government's
Production Linked Incentive (PLI) scheme for medical devices aim to promote
local manufacturing, reduce dependency on imports, and make advanced healthcare
technologies more accessible across diverse socioeconomic segments.
Segmental Insights
Field Strength Insights
Based on the Field Strength,
High-Field MRI systems are currently dominating over Low-to-Mid Field MRI
systems. High-Field MRI systems typically refer to scanners with field
strengths of 1.5 Tesla and above, whereas Low-to-Mid Field MRI systems
generally range from 0.2 Tesla to 1.2 Tesla. The dominance of High-Field MRI systems
in India can be attributed to several factors. High-Field MRI systems offer
superior image quality and resolution compared to Low-to-Mid Field systems.
This enhanced imaging capability is crucial for accurate diagnosis of complex
medical conditions across various specialties such as neurology, oncology, and
musculoskeletal imaging. The higher signal-to-noise ratio provided by
High-Field MRI enables clearer visualization of anatomical structures and
pathological changes, leading to more precise treatment planning and improved
patient outcomes.
Advancements in High-Field
MRI technology, including the development of stronger magnets, advanced coil
designs, and sophisticated imaging techniques such as functional MRI (fMRI) and
diffusion tensor imaging (DTI), have expanded the clinical applications of
these systems. Healthcare providers in India increasingly prefer High-Field MRI
systems for their ability to perform a wide range of advanced imaging studies
efficiently and accurately.
The growing demand for comprehensive and timely
diagnostic services in both urban and semi-urban areas of India has driven the
adoption of High-Field MRI systems. Despite their higher initial costs and
operational expenses, the clinical benefits and diagnostic capabilities offered
by High-Field MRI systems justify their investment for many healthcare
providers and diagnostic centers in the country.
Application Insights
Based on Application, the
Brain & Neurological imaging segment is currently dominating over other specialties
such as Oncology, Spine & Musculoskeletal, Abdominal, and Cardiac imaging.
This dominance can be attributed to several key factors that highlight the
critical role of MRI in diagnosing and monitoring neurological disorders and
brain-related conditions. Brain & Neurological MRI is essential for
detecting and evaluating a wide range of conditions affecting the brain, spinal
cord, and nervous system.
These conditions include stroke, brain tumors,
multiple sclerosis, neurodegenerative diseases (such as Alzheimer's and
Parkinson's disease), epilepsy, and traumatic brain injuries. The
high-resolution imaging capabilities of MRI allow for detailed visualization of
brain structures, lesions, and abnormalities, facilitating accurate diagnosis
and treatment planning.
The increasing prevalence
of neurological disorders and the growing awareness among healthcare providers
and patients about the benefits of early detection and precise diagnosis have
fueled the demand for Brain & Neurological MRI services in India. As the
healthcare infrastructure expands and diagnostic capabilities improve, there is
a rising preference for MRI over other imaging modalities due to its
non-invasive nature, lack of ionizing radiation, and superior soft-tissue
contrast.
Advancements in MRI technology, including higher field strengths
(such as 1.5 Tesla and 3 Tesla systems), specialized imaging sequences (such as
diffusion-weighted imaging and functional MRI), and advanced post-processing
techniques, have enhanced the diagnostic accuracy and clinical utility of Brain
& Neurological MRI. These technological innovations allow healthcare
providers to perform detailed assessments of brain function, blood flow
dynamics, and tissue integrity, thereby facilitating early intervention and
personalized patient care.
Download Free Sample Report
Regional Insights
In the India Magnetic Resonance Imaging (MRI)
market, the Western region is currently dominating over the North, South, and
East regions. The Western region of India, which includes states such as
Maharashtra, Gujarat, and Rajasthan, has witnessed significant growth and
development in healthcare infrastructure, including the adoption of advanced
diagnostic technologies like MRI. Several factors contribute to the dominance
of the Western region in the MRI market. Cities like Mumbai, Pune, and
Ahmedabad are major healthcare hubs with a high concentration of multispecialty
hospitals, diagnostic centers, and medical institutions. These urban centers
attract patients from across the country and neighboring regions for
specialized medical services, including MRI diagnostics.
The Western region benefits from robust economic
development, substantial investments in healthcare facilities, and a high level
of healthcare expenditure compared to other regions. The presence of corporate
hospitals, medical colleges, research institutes, and healthcare clusters in
cities like Mumbai and Pune has bolstered the demand for advanced medical
technologies, including high-field MRI systems. The Western region's strategic
location and connectivity facilitate easier access to international markets for
importing MRI equipment and technologies. This accessibility to global
suppliers and partnerships contributes to the rapid adoption of cutting-edge
MRI technology in the region.
Recent Developments
- In October 2025, the first indigenous "Made-in-India" 1.5 Tesla (T) MRI scanner is scheduled to be installed at the All India Institute of Medical Sciences (AIIMS) in Delhi for clinical trials. This initiative, a collaboration between AIIMS and the Society for Applied Microwave Electronics Engineering & Research (SAMEER), is expected to reduce the cost of MRI scans by over 30% and make the technology commercially available by June 2026.
- In July 2025, India's first AI-powered, ultra-fast MRI scanner was launched at Mahajan Imaging & Labs' new center in Dwarka, Delhi. This system is designed to enhance diagnostic precision and speed.
- In July 2025, the Indian Institute of Technology (IIT) Delhi launched a new MRI research facility equipped with a 1.5T clinical-grade scanner to foster innovation and the integration of AI in MRI technology.
- In March 2025, A landmark Memorandum of Understanding (MoU) was signed between AIIMS New Delhi and SAMEER. The agreement focuses on collaborative research in
- In April 2025, Paras Defence and Space Technologies began developing key technology for India’s first homegrown MRI machine. Amit Mahajan, Director at Paras Defence, stated that local manufacturing would help lower costs and expand access to advanced diagnostic tools. The initiative marked a crucial step toward self-reliance in medical technology, aiming to improve affordability and availability of MRI services across the country, particularly in underserved and rural areas.
- In March 2025, India successfully developed its first indigenous MRI machine, marking a major milestone in the country's medical technology sector. This achievement aimed to significantly reduce the cost of MRI scans, making advanced diagnostic imaging more affordable and accessible, especially in rural and underserved areas. By manufacturing the machine locally, India reduced its reliance on expensive imports and strengthened its healthcare infrastructure. The indigenous MRI system was expected to enhance early diagnosis and treatment of various medical conditions, contributing to better patient outcomes. This initiative also supported the government’s broader vision of self-reliance in critical healthcare technologies.
- In June 2024, scientists in India developed a low-cost MRI machine using store-bought hardware, priced at just Rs 18 lakh. Compared to existing machines costing Rs 9 crore or more, this innovation promised to significantly improve access to diagnostic imaging across the country. The affordable MRI system aimed to benefit rural and underserved areas, making advanced medical diagnostics more accessible and reducing the financial burden on healthcare providers and patients.
Key Market Players
- Siemens Healthcare Private
Limited
- Philips India Limited
- Wipro GE Healthcare Private
Limited
- Hitachi, Ltd.
- Erbis Engineering Co., Ltd
- Voxelgrids Innovations Private
Limited
- Sanrad Medical Systems Private
Limited
- Esaote Asia Pacific Diagnostic
Private Limited
- Wipro Ge Healthcare Private
Limited
- Voxelgrids Innovations Private
Limited
|
By Field Strength
|
By Type
|
By Architecture
|
By Application
|
By End User
|
By Source
|
By Product
|
By Region
|
- High-Field MRI Systems
- Low-to-Mid Field MRI System
- Others
|
|
- Closed MRI Systems
- Open MRI Systems
|
- Brain & Neurological
- Oncology
- Spine & Musculoskeletal
- Abdominal
- Cardiac
- Others
|
- Hospitals
- Imaging Centers
- Ambulatory Surgical Centers Others
|
|
|
|
Report Scope:
In this report, the India Magnetic Resonance
Imaging Market has been segmented into the following categories, in addition to
the industry trends which have also been detailed below:
- India Magnetic Resonance
Imaging Market, By
Field Strength:
o High-Field MRI Systems
o Low-to-Mid Field MRI System
o Others
- India Magnetic Resonance
Imaging Market, By
Type:
o Fixed
o Mobile
- India Magnetic Resonance
Imaging Market, By
Architecture:
o Closed MRI Systems
o Open MRI Systems
- India Magnetic Resonance
Imaging Market, By
Application:
o Brain & Neurological
o Oncology
o Spine & Musculoskeletal
o Abdominal
o Cardiac
o Others
- India Magnetic Resonance
Imaging Market, By
End User:
o Hospitals
o Imaging Centers
o Ambulatory Surgical Centers
Others
- India Magnetic Resonance
Imaging Market, By
Source:
o Import
o Domestic
- India Magnetic Resonance
Imaging Market, By
Product:
o Refurbished
o New
- India Magnetic Resonance
Imaging Market, By
Region:
o North
o South
o West
o East
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
present in the India Magnetic Resonance Imaging Market.
Available Customizations:
India Magnetic Resonance Imaging Market report
with the given market data, TechSci Research offers customizations according
to a company's specific needs. The following customization options are
available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
India Magnetic Resonance Imaging Market is an
upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]