As on date of publishing, this report will capture the impact assessment of COVID-19 on this market and the same will be considered in our market forecast model. Clients purchasing this report between April and June 2020 will be getting a ‘free’ updated market data excel sheet between July and September 2020 accounting for the impact of COVID-19 on the market in the current year 2020 and forecast.

Global MRI market is expected to witness rapid growth during the forecast period owing to technological advancements such as inclusion of MRI with PET or CT that provides imaging possibilities with less exposure to harmful radiations. MRI devices are finding wide application in detection of severe internal injuries. Furthermore, increasing patient pool suffering from neurological and musculoskeletal disorders coupled with growing need for quick and effective diagnostic procedures is acting as key growth driver for global MRI market. With growing prevalence of health conditions such as tumors, spine lesions and stroke, the market is anticipated to grow further in the coming years.

Moreover, increasing awareness about chronic disorders and early diagnosis are propelling the growth of global MRI market. In addition to this, growing expenditure on healthcare and increasing government support for MRI are supporting the market growth. However, global MRI market is also facing some restraints. High cost of MRI devices and their installation might hamper the market growth. Furthermore, insufficient reimbursement policies in various countries and delayed product approval due to stringent regulatory framework are also anticipated to pose as challenge before manufacturers.

Global MRI market can be segmented based on field of strength, type, architecture, application, end user and region. Based on field strength, the market can be segmented into high-field MRI systems that ranges from 1.5t to 3t, low-to-mid-field MRI systems  that ranges <1.5t and very-high-field MRI systems that ranges 4t and above. Among them, high-field MRI systems accounted for largest market share in 2019 as they are available in comparatively affordable prices and help in capturing images with higher precision. However, very-high-field MRI systems are expected to undergo fastest CAGR during he forecast period owing to increasing approval from the regulatory bodies for development of these systems.

Regionally, North America dominated the global MRI market in 2019 as the region has well-established healthcare infrastructure and is witnessing increasing adoption of advanced medical equipment. However, Asia Pacific is expected to witness fastest growth during the forecast period owing to flourishing medical tourism industry in the region. Moreover, availability of advanced healthcare facilities and services at a lower cost are also making Asia Pacific a lucrative market for MRI device manufactures.

Major companies operating in global MRI market include GE Healthcare, Aurora Imaging Technologies, Inc., Sanrad Medical Systems Pvt ltd., Koninklijke Philips NV, Aspect Imaging, Esaote SpA, Toshiba Corporation, Fonar Corporation, Hitachi Ltd, Neusoft Medical Systems Co. Ltd, Koninklijke Philips NV, Siemens Healthcare GmbH, Barco NV, Canon Medical Systems Corporation, Mindray Medical International Limited, Hologic, Inc. and Nordion Inc., among others. The market players are adopting growth strategies like collaborations and are investing on new technology for introducing advanced MRI devices into the global market.  

Years considered for this report:

Historical Years: 2015-2018

Base Year: 2019

Estimated Year: 2020

Forecast Period: 2021–2025

Objective of the Study:

  • To analyze and forecast the market size of global MRI market.
  • To forecast global MRI market based on field of strength, type, architecture, application, end user, company and regional distribution.
  • To identify drivers and challenges for global MRI market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in global MRI market.
  • To identify and analyze the profile of leading players operating in the global MRI market.


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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of MRI companies across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the companies which could not be identified due to the limitations of secondary research.

TechSci Research calculated global MRI market size using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.


Key Target Audience:

  • MRI device manufacturers/companies/partners and other stakeholders
  • Government bodies such as regulating authorities and policy makers
  • Organizations, industry associations, forums and alliances related to MRI
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as MRI device manufacturing companies, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, global MRI market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Global MRI Market, By Field Strength:
    • High-Field MRI Systems
      • 1.5t MRI Systems
      • 3t MRI Systems
    • Low-To-Mid-Field MRI Systems (<1.5t)
    • Very-High-Field MRI Systems (4t and Above)
  • Global MRI Market, By Type:
    • Fixed
    • Mobile
  • Global MRI Market, By Architecture:
    • Closed MRI Systems
    • Standard Bore MRI Systems
    • Wide-Bore MRI Systems
    • Open MRI Systems
  • Global MRI Market, By Application:
    • Brain and Neurological
    • Oncology
    • Spine and Musculoskeletal
    • Vascular
    • Abdominal
    • Cardiac
    • Others
  • Global MRI Market, By End User:
    • Hospitals
    • Imaging Centers
    • Ambulatory Surgical Centers
    • Others
  • Global MRI Market, By Region:
    • Asia-Pacific
      • China
      • Japan
      • India 
      • South Korea
      • Australia
    • Europe
      • France
      • Germany
      • United Kingdom
      • Italy
      • Spain
    • North America
      • United States
      • Mexico
      • Canada
    • South America
      • Brazil
      • Argentina
      • Colombia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global MRI market.

Available Customizations:

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).

Profit Margin Analysis

  • Profit margin analysis in case of direct and indirect sales channel.
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1.    Field Strength Overview

2.    Research Methodology

3.    Impact of COVID-19 on Global MRI Market

4.    Executive Summary

5.    Voice of Customer

6.    Global MRI Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Field Strength (High-Field MRI Systems (1.5t MRI Systems, 3t MRI Systems), Low-To-Mid-Field MRI Systems (<1.5t), Very-High-Field MRI Systems (4t and Above))

6.2.2.     By Type (Fixed, Mobile)

6.2.3.     By Architecture (Closed MRI Systems, Standard Bore MRI Systems, Wide-Bore MRI Systems, Open MRI Systems)

6.2.4.     By Application (Brain and Neurological, Oncology, Spine and Musculoskeletal, Vascular, Abdominal, Cardiac, Others)

6.2.5.     By End User (Hospitals, Imaging Centers, Ambulatory Surgical Centers, Others)

6.2.6.     By Company (2019)

6.2.7.     By Region

6.3.  Field Strength Market Map

7.    Asia-Pacific MRI Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Field Strength

7.2.2.     By Type

7.2.3.     By Architecture

7.2.4.     By Application

7.2.5.     By End User

7.2.6.     By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.     China MRI Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value & Volume

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Field Strength

7.3.1.2.2.             By Type

7.3.1.2.3.             By Architecture

7.3.1.2.4.             By Application

7.3.1.2.5.             By End User

7.3.2.     India MRI Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value & Volume

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Field Strength

7.3.2.2.2.             By Type

7.3.2.2.3.             By Architecture

7.3.2.2.4.             By Application

7.3.2.2.5.             By End User

7.3.3.     Japan MRI Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value & Volume

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Field Strength

7.3.3.2.2.             By Type

7.3.3.2.3.             By Architecture

7.3.3.2.4.             By Application

7.3.3.2.5.             By End User

7.3.4.     South Korea MRI Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value & Volume

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Field Strength

7.3.4.2.2.             By Type

7.3.4.2.3.             By Architecture

7.3.4.2.4.             By Application

7.3.4.2.5.             By End User

7.3.5.     Australia MRI Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value & Volume

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Field Strength

7.3.5.2.2.             By Type

7.3.5.2.3.             By Architecture

7.3.5.2.4.             By Application

7.3.5.2.5.             By End User

8.    Europe MRI Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Field Strength

8.2.2.     By Type

8.2.3.     By Architecture

8.2.4.     By Application

8.2.5.     By End User

8.2.6.     By Country

8.3.  Europe: Country Analysis

8.3.1.     France MRI Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value & Volume

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Field Strength

8.3.1.2.2.             By Type

8.3.1.2.3.             By Architecture

8.3.1.2.4.             By Application

8.3.1.2.5.             By End User

8.3.2.     Germany MRI Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value & Volume

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Field Strength

8.3.2.2.2.             By Type

8.3.2.2.3.             By Architecture

8.3.2.2.4.             By Application

8.3.2.2.5.             By End User

8.3.3.     United Kingdom MRI Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value & Volume

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Field Strength

8.3.3.2.2.             By Type

8.3.3.2.3.             By Architecture

8.3.3.2.4.             By Application

8.3.3.2.5.             By End User

8.3.4.     Italy MRI Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value & Volume

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Field Strength

8.3.4.2.2.             By Type

8.3.4.2.3.             By Architecture

8.3.4.2.4.             By Application

8.3.4.2.5.             By End User

8.3.5.     Spain MRI Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value & Volume

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Field Strength

8.3.5.2.2.             By Type

8.3.5.2.3.             By Architecture

8.3.5.2.4.             By Application

8.3.5.2.5.             By End User

9.    North America MRI Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Field Strength

9.2.2.     By Type

9.2.3.     By Architecture

9.2.4.     By Application

9.2.5.     By End User

9.2.6.     By Country

9.3.  North America: Country Analysis

9.3.1.     United States MRI Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value & Volume

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Field Strength

9.3.1.2.2.             By Type

9.3.1.2.3.             By Architecture

9.3.1.2.4.             By Application

9.3.1.2.5.             By End User

9.3.2.     Mexico MRI Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value & Volume

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Field Strength

9.3.2.2.2.             By Type

9.3.2.2.3.             By Architecture

9.3.2.2.4.             By Application

9.3.2.2.5.             By End User

9.3.3.     Canada MRI Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value & Volume

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Field Strength

9.3.3.2.2.             By Type

9.3.3.2.3.             By Architecture

9.3.3.2.4.             By Application

9.3.3.2.5.             By End User

10.  South America MRI Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value & Volume

10.2.              Market Share & Forecast

10.2.1.  By Field Strength

10.2.2.  By Type

10.2.3.  By Architecture

10.2.4.  By Application

10.2.5.  By End User

10.2.6.  By Country

10.3.              South America: Country Analysis

10.3.1.  Brazil MRI Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value & Volume

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Field Strength

10.3.1.2.2.           By Type

10.3.1.2.3.           By Architecture

10.3.1.2.4.           By Application

10.3.1.2.5.           By End User

10.3.2.  Argentina MRI Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value & Volume

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Field Strength

10.3.2.2.2.           By Type

10.3.2.2.3.           By Architecture

10.3.2.2.4.           By Application

10.3.2.2.5.           By End User

10.3.3.  Colombia MRI Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value & Volume

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Field Strength

10.3.3.2.2.           By Type

10.3.3.2.3.           By Architecture

10.3.3.2.4.           By Application

10.3.3.2.5.           By End User

11.  Middle East and Africa MRI Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value & Volume

11.2.              Market Share & Forecast

11.2.1.  By Field Strength

11.2.2.  By Type

11.2.3.  By Architecture

11.2.4.  By Application

11.2.5.  By End User

11.2.6.  By Country

11.3.              MEA: Country Analysis

11.3.1.  South Africa MRI Market Outlook

11.3.1.1.      Market Size & Forecast

11.3.1.1.1.           By Value & Volume

11.3.1.2.      Market Share & Forecast

11.3.1.2.1.           By Field Strength

11.3.1.2.2.           By Type

11.3.1.2.3.           By Architecture

11.3.1.2.4.           By Application

11.3.1.2.5.           By End User

11.3.2.  Saudi Arabia MRI Market Outlook

11.3.2.1.      Market Size & Forecast

11.3.2.1.1.           By Value & Volume

11.3.2.2.      Market Share & Forecast

11.3.2.2.1.           By Field Strength

11.3.2.2.2.           By Type

11.3.2.2.3.           By Architecture

11.3.2.2.4.           By Application

11.3.2.2.5.           By End User

11.3.3.  UAE MRI Market Outlook

11.3.3.1.      Market Size & Forecast

11.3.3.1.1.           By Value & Volume

11.3.3.2.      Market Share & Forecast

11.3.3.2.1.           By Field Strength

11.3.3.2.2.           By Type

11.3.3.2.3.           By Architecture

11.3.3.2.4.           By Application

11.3.3.2.5.           By End User

12.  Market Dynamics

12.1.              Drivers

12.2.              Challenges

13.  Market Trends & Developments

14.  Competitive Landscape

14.1.              Competition Outlook

14.2.              Players Profiled (Leading Companies)

14.2.1.  GE Healthcare

14.2.2.  Aurora Imaging Technologies, Inc.

14.2.3.  Sanrad Medical Systems Pvt ltd.

14.2.4.  Koninklijke Philips NV

14.2.5.  Aspect Imaging

14.2.6.  Esaote SpA

14.2.7.  Toshiba Corporation

14.2.8.  Fonar Corporation

14.2.9.  Hitachi Ltd

14.2.10.                Neusoft Medical Systems Co. Ltd

14.2.11.                Koninklijke Philips NV

14.2.12.                Siemens Healthcare GmbH

14.2.13.                Barco NV

14.2.14.                Canon Medical Systems Corporation

14.2.15.                Mindray Medical International Limited

14.2.16.                Hologic, Inc.

14.2.17.                Nordion Inc.

15. Strategic Recommendations

16. About Us & Disclaimer

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