MRI Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented 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)), By Type (Fixed, Mobile), By Architecture (Closed MRI Systems, Open MRI Systems), By Application (Brain and Neurological, Oncology, Spine and Musculoskeletal, Abdominal, Cardiac, Others), By End User (Hospitals, Imaging Centers, Ambulatory Surgical Centers, Others), By Region and Competition, 2020-2030F

Market Overview

The Global MRI Market , valued at USD 5.25 Billion in 2024, is projected to experience a CAGR of 5.76% to reach USD 7.35 Billion by 2030. Magnetic Resonance Imaging (MRI) is a non-invasive medical imaging modality that uses strong magnetic fields and radio waves to generate detailed images of internal body structures. The global MRI market growth is fundamentally supported by the increasing prevalence of chronic and age-related diseases, such as neurological disorders, cancer, and musculoskeletal conditions, which necessitate advanced diagnostic capabilities. Furthermore, a growing aging population worldwide contributes significantly to the demand for imaging services, alongside ongoing investments in healthcare infrastructure development, particularly in emerging economies. According to a 2023 report by the Radiological Society of North America (RSNA), hospitals accounted for over 65% of all MRI procedures globally.

Despite these robust growth drivers, the market faces a significant challenge in the substantial capital expenditure required for MRI system acquisition and ongoing maintenance. These high costs can impede broader adoption, particularly within budget-constrained healthcare settings and smaller diagnostic centers, thereby limiting overall market expansion.

Key Market Drivers

The global MRI market is significantly influenced by the escalating burden of chronic and neurological diseases, which necessitates sophisticated diagnostic tools for early detection and comprehensive disease management. Conditions such as dementia, stroke, and various cancers require detailed imaging to accurately diagnose, stage, and monitor treatment efficacy, thereby driving a fundamental demand for advanced imaging modalities. This pervasive health challenge translates directly into increased utilization of MRI procedures, given its superior soft tissue contrast and non-ionizing nature, which is particularly beneficial for serial examinations. According to a study published in The Lancet, in March 2024, 43% of the world's population was affected by neurological conditions in 2021, underscoring the vast and growing patient pool requiring advanced neuroimaging. Concurrently, continuous technological advancements in MRI systems are profoundly shaping market growth by enhancing imaging capabilities and operational efficiencies. Innovations in artificial intelligence, faster scanning sequences, and improved patient comfort features are expanding the clinical utility of MRI and broadening its accessibility across diverse healthcare settings. These advancements not only improve diagnostic accuracy but also effectively address workflow challenges in high-demand clinical environments. For instance, according to Medical Device Network, in November 2024, Philips' next-generation BlueSeal 1.5T MRI system, incorporating AI-enabled MR Smart Workflow solutions, is designed to automate up to 80% of MRI exam planning, scanning, and processing procedures, thereby streamlining operations and increasing patient throughput.

The increasing prevalence of these complex conditions and the continuous evolution of imaging technology collectively contribute to a growing volume of diagnostic imaging requirements globally. This creates a sustained impetus for the MRI market to expand its capacity and capabilities. According to Philips' presentation at RSNA 2024, in December 2024, radiologists globally are facing a 60% rise in imaging data, highlighting the immense pressure on existing infrastructure and well as the critical need for efficient, high-performance MRI solutions.

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Key Market Challenges

The substantial capital expenditure required for Magnetic Resonance Imaging (MRI) system acquisition and ongoing maintenance represents a significant challenging factor for the global MRI market. The considerable initial investment needed for new MRI systems often deters smaller diagnostic centers and healthcare facilities operating under budget constraints. This financial barrier directly limits broader market penetration, particularly in regions where healthcare infrastructure funding is restricted, thereby impeding the expansion of advanced diagnostic capabilities.

The operational burden extends beyond the purchase price to include significant ongoing maintenance and service contracts, further straining facility budgets. This leads to a delayed refresh cycle for imaging technology. According to GE Healthcare, in 2023, the average age of an MRI scanner at the time of replacement was 15.2 years, demonstrating how facilities are prolonging the use of older equipment due to the high cost associated with acquiring and maintaining newer technologies. This reluctance to invest in contemporary systems directly hampers the adoption of advanced MRI modalities, consequently slowing overall market expansion and the integration of newer technological advancements.

Key Market Trends

The Expansion of Portable and Point-of-Care MRI Systems is transforming diagnostic accessibility by bringing advanced imaging directly to patients in diverse clinical settings like emergency departments and intensive care units. This decentralization reduces patient transfer risks and enables faster diagnostic decisions for time-sensitive conditions. The systems' smaller footprint and simplified operation allow deployment in locations previously unequipped for MRI. At the Radiological Society of North America (RSNA) 2024 annual meeting, eleven clinical studies highlighted increasing clinician experience with portable MRI systems for diverse patient populations. This growing evidence supports wider adoption, as Hyperfine, Inc. in July 2025 announced the first commercial sales of its next-generation Swoop® system to hospitals for critical care and emergency department use.

Cloud-Based MRI Data Management and Analysis Solutions are essential for enhancing radiology service efficiency and collaboration. These platforms facilitate secure, scalable storage and remote access to imaging data, crucial for improving diagnostic workflows and supporting teleradiology. Cloud environments also provide the robust computational power necessary for integrating advanced analytics and artificial intelligence. The American College of Radiology reported in September 2025 that nearly 80% of FDA-cleared medical AI algorithms targeted imaging applications, indicating significant reliance on underlying digital infrastructure. This trend is further evidenced by Philips' expansion of its cloud-based radiology informatics solutions to Europe in February 2025, following successful implementation across over 150 sites in the Americas.

Segmental Insights

The Brain and Neurological segment is a significant growth driver in the Global MRI Market, experiencing rapid expansion due to several interconnected factors. A primary driver is the escalating global prevalence of neurological disorders, such as Alzheimer's, Parkinson's disease, stroke, and multiple sclerosis, particularly within an aging population. Magnetic Resonance Imaging offers detailed, non-invasive imaging capabilities crucial for the precise diagnosis, monitoring, and treatment planning of these complex conditions. Furthermore, continuous advancements in MRI technology, including improved resolution, advanced artificial intelligence features, and enhanced functional imaging, are augmenting diagnostic accuracy and broadening the clinical applications for neurological assessments. These technological innovations, combined with a growing emphasis on early and accurate disease detection, are collectively fueling the segment's robust growth.

Regional Insights

Asia Pacific stands as a leading region in the global MRI market, primarily driven by the escalating prevalence of chronic diseases, including various cancers and neurological conditions, which necessitates advanced diagnostic imaging. Substantial increases in healthcare expenditure and robust infrastructure development across countries like China and India further expand access to advanced medical technologies. Moreover, supportive government initiatives focused on improving healthcare access and promoting early disease detection, alongside a large and aging population, contribute significantly to the demand for MRI systems. This combination of rising patient volumes, enhanced medical facilities, and proactive health policies solidifies Asia Pacific's prominent market position.

Recent Developments

• In November 2024, Canon Medical Systems USA announced the commercial release of its Vantage Galan 3T / Supreme Edition. This advanced 3T MRI system, a new product in the Global MRI Market, features components entirely manufactured by Canon, including an innovative Real-time platform and Japan-made magnet technology. The system enhances imaging performance and operational workflow, incorporating Canon’s Altivity suite of AI solutions. These AI-driven enhancements are designed to optimize image quality and reduce scan times for clinicians.

• In November 2024, GE HealthCare obtained FDA 510(k) clearance for its SIGNA MAGNUS, a head-only 3.0T MRI scanner. This system, previously unveiled in May 2024, represents a breakthrough in the Global MRI Market, specifically designed to advance neuroimaging for neurological, oncological, and psychiatric conditions. Its unique asymmetrical, high-efficiency gradient coil, tailored for head-only scanning, provides enhanced spatial resolution and image clarity. The SIGNA MAGNUS aims to improve the detection and study of subtle abnormalities in brain structures.

• In November 2024, Philips unveiled its next-generation 1.5T BlueSeal MR wide-bore scanner at RSNA 2024. This system, a significant product launch in the Global MRI Market, features a helium-free magnet system, eliminating the need for helium refills. It also integrates AI-enabled MR Smart Workflow solutions, designed to enhance diagnostic confidence and increase daily patient throughput. The system aims to simplify installation flexibility and reduce operational challenges, supporting more sustainable and efficient imaging practices.

• In February 2024, Siemens Healthineers introduced MAGNETOM Flow, a 1.5 Tesla MRI platform, at the European Congress of Radiology. This system, part of the Global MRI Market, integrates DryCool technology, significantly reducing the liquid helium required for cooling to 0.7 liters, a substantial decrease from conventional systems. The platform also leverages artificial intelligence (AI) for image reconstruction, which can shorten scan times and improve image quality. This development underscores the company's commitment to sustainable and efficient diagnostic imaging solutions.

Key Market Players

• GE Healthcare Technologies, Inc.
• Aurora Imaging Technologies, Inc.
• Sanrad Medical Systems Pvt ltd.
• Aspect Imaging
• Esaote SpA
• Fonar Corporation
• Hitachi Ltd
• Neusoft Medical Systems Co. Ltd
• Koninklijke Philips NV
• Siemens Healthcare GmbH
• Canon Medical Systems Corporation
• Mindray Medical International Limited
• Hologic, Inc.
• Nordion Inc.
• United Imaging Healthcare Co., Ltd

Report Scope:

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

• MRI Market , By Field Strength:

o   High-Field MRI Systems

o   Low-To-Mid-Field MRI Systems

o   Very-High-Field MRI Systems

• MRI Market , By Type:

o   Fixed

o   Mobile

• MRI Market , By Architecture:

o   Closed MRI Systems

o   Open MRI Systems

• MRI Market , By Application:

o   Brain and Neurological

o   Oncology

o   Spine and Musculoskeletal

o   Abdominal

o   Cardiac

o   Others

• MRI Market , By End User:

o   Hospitals

o   Imaging Centers

o   Ambulatory Surgical Centers

o   Others

• MRI Market , By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global MRI Market .

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Company Information

• Detailed analysis and profiling of additional market players (up to five).

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