Magnetic Resonance Imaging Systems Market Analysis

ID: MRFR/MED/4735-HCR

110 Pages

Rahul Gotadki

October 2025

Magnetic Resonance Imaging (MRI) Systems Market Research Report By Technology (Closed MRI Systems, Open MRI Systems, Functional MRI Systems, High-Field MRI Systems), By Application (Oncology, Neurology, Cardiology, Musculoskeletal Imaging, Gastrointestinal Imaging), By End Use (Hospitals, Diagnostic Imaging Centers, Research Institutes, Ambulatory Surgical Centers), By Field Strength (Low-Field...

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Market Analysis

In-depth Analysis of Magnetic Resonance Imaging Systems Market Industry Landscape

The market for magnetic resonance imaging systems frameworks is an area of the clinical imaging industry that is dynamic and going through speed up change. Without using ionizing radiation, X-ray innovation gives exact pictures of inner designs, which is of basic significance in the field of medication analysis. Drivers of market development incorporate a. The market remains moved by persistent innovative progressions, including upgraded imaging calculations and expanded attractive field qualities. b. The X-ray market is being driven by the rising commonness of ongoing illnesses, for example, those influencing the sensory system and outer muscle framework, which expands the interest for ahead of schedule and precise symptomatic instruments.

Coming up next are worldwide market drifts: a. The remarkable pattern of hybrid imaging includes the mix of magnetic resonance imaging systems with other imaging modalities, including CT and positron emanation tomography (PET). This joining offers extensive indicative data. b. A rising accentuation is being put on the advancement of convenient and minimized X-ray frameworks, which would work with reason behind care imaging and further develop openness across different medical services conditions. Chief Market Members: a. GE Medical care, an unmistakable industry member, reliably presents creative magnetic resonance imaging systems that incorporate man-made reasoning (simulated intelligence) to further develop picture examination and conclusion. b. Siemens Healthineers: Siemens keeps a main situation in the business with its Magnetom series, which focuses on persistent solace and high-goal imaging by means of imaginative plan. Varieties in Territorial Business sectors: a. North America: A powerful medical services foundation, high medical care uses, and early reception of cutting-edge clinical innovations all add to the predominance of the North American market. b. Considering the rising acknowledgment of the benefits related with ideal discovery and the upgrade of medical services framework, the Asia-Pacific region offers significant possibilities for development. Hardships in the commercial center: a. The extensive introductory uses connected to the obtainment and execution of magnetic resonance imaging systems present a trouble, particularly for medical services foundations that work under asset constraints. b. The execution of novel magnetic resonance imaging systems advancements might experience obstructions as administrative obstacles, including thorough endorsement prerequisites and adherence to different guidelines. Results of Coronavirus: The magnetic resonance imaging systems market has been impacted both decidedly and adversely by the Coronavirus pandemic. Defers happened in non-pressing imaging methods because of the expanded accentuation on crisis and basic consideration, in spite of the flood popular for symptomatic imaging administrations.

Market Highlights

Author

Rahul Gotadki

Assistant Manager

He holds an experience of about 7+ years in Market Research and Business Consulting, working under the spectrum of Life Sciences and Healthcare domains. Rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. His expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. In addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives

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FAQs

What is the expected market size of the Global Magnetic Resonance Imaging (MRI) Systems Market in 2024?

The market size is expected to be valued at 7.45 billion USD in 2024.

What will be the market size of the Global Magnetic Resonance Imaging (MRI) Systems Market by 2035?

By 2035, the market size is anticipated to reach 12.0 billion USD.

What is the expected CAGR for the Global Magnetic Resonance Imaging (MRI) Systems Market from 2025 to 2035?

The market is expected to grow at a CAGR of 4.43% from 2025 to 2035.

Which region holds the largest market share in the Global Magnetic Resonance Imaging (MRI) Systems Market in 2024?

North America is projected to hold the largest market share with a valuation of 3.0 billion USD in 2024.

What is the market value for Closed MRI Systems in 2024?

The market value for Closed MRI Systems is anticipated to be 3.0 billion USD in 2024.

What are the expected growth values for Open MRI Systems by 2035?

The market for Open MRI Systems is expected to grow to 2.5 billion USD by 2035.

What are the anticipated market numbers for Functional MRI Systems in 2024 and 2035?

Functional MRI Systems are valued at 1.25 billion USD in 2024, expected to reach 2.0 billion USD by 2035.

Who are the key players in the Global Magnetic Resonance Imaging (MRI) Systems Market?

Major players include GE Healthcare, Siemens Healthineers, Philips Healthcare, and Fujifilm Holdings Corporation among others.

What is the expected market size for MRI Systems in the APAC region in 2024?

The APAC region is expected to have a market size of 1.8 billion USD in 2024.

What is the market outlook for the MEA region's MRI Systems by 2035?

The MEA region is expected to see a market value of 0.5 billion USD by 2035.

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Market Summary

As per Market Research Future Analysis, the Magnetic Resonance Imaging (MRI) Systems Market was valued at 7.14 USD Billion in 2023 and is projected to grow to 12 USD Billion by 2032, with a CAGR of 4.43% from 2024 to 2032. The market is driven by the increasing prevalence of chronic diseases, technological advancements, and government initiatives aimed at enhancing healthcare infrastructure.

Key Market Trends & Highlights

The MRI Systems Market is witnessing significant trends driven by healthcare needs and technological innovations.

The market is expected to reach 7.45 USD Billion in 2024. Closed MRI Systems are projected to grow from 3.0 USD Billion in 2024 to 4.8 USD Billion by 2032. Functional MRI Systems are anticipated to increase from 1.25 USD Billion in 2024 to 2.0 USD Billion by 2032. North America is expected to dominate the market with a valuation of 3.0 USD Billion in 2024.

Magnetic Resonance Imaging Systems Market

CAGR

4.43%

Market Size & Forecast

2023 Market Size	USD 7.14 Billion
2024 Market Size	USD 7.45 Billion
2032 Market Size	USD 12.0 Billion
CAGR (2024-2032)	4.43%
Largest Regional Market Share in 2024	North America.

Major Players

Key players include AgfaGevaert, Neusoft Medical Systems, Fujifilm Holdings Corporation, Siemens Healthineers, and GE Healthcare.

Market Trends

Driven by technological developments and rising healthcare needs, the Global Magnetic Resonance Imaging (MRI) Systems Market is showing significant trends. One key market driver is the rising incidence of chronic diseases such as cancer and neurological disorders, which require good diagnostic imaging.

The increasing elderly population worldwide is also driving increased demand for MRI services because older people are more susceptible to many health problems that require precise imaging methods. Opportunities in this industry include the creation of portable, small MRI machines used in underprivileged and distant locations.

Particularly in areas with poor healthcare infrastructure, this invention enables better access to diagnostic services. Moreover, artificial intelligence (AI) included in MRI systems improves picture processing and interpretation, hence increasing diagnostic accuracy and efficiency.

Trends in the Global market have lately shown a move toward open MRI systems, which provide a more pleasant experience for patients and are especially good for people with claustrophobia. The use of sophisticated MRI technologies such as functional MRI (fMRI) and diffusion MRI is also becoming more popular since they provide improved evaluation of tissue qualities and brain activity.

These patterns show a dedication in the healthcare industry to strengthening patient care and using technology for better medical results. These components, taken together, form the future scene of the MRI systems market worldwide, in line with the more general objectives of enhancing access to healthcare and diagnostic capacity.

The ongoing advancements in MRI technology, coupled with an increasing demand for non-invasive diagnostic tools, appear to be driving a transformative shift in the global Magnetic Resonance Imaging systems landscape.

U.S. Food and Drug Administration (FDA)

Magnetic Resonance Imaging Systems Market Market Drivers

Market Growth Projections

The Global Magnetic Resonance Imaging (MRI) Systems Market Industry is projected to experience substantial growth over the coming years. The market is expected to reach a valuation of 12 USD Billion by 2035, driven by various factors including technological advancements, rising healthcare expenditure, and an increasing geriatric population. The compound annual growth rate (CAGR) is anticipated to be 4.43% from 2025 to 2035, indicating a robust demand for MRI systems. This growth trajectory suggests a favorable environment for manufacturers and healthcare providers alike, as they adapt to evolving market dynamics and consumer needs.

Growing Geriatric Population

The Global Magnetic Resonance Imaging (MRI) Systems Market Industry is also driven by the growing geriatric population, which is more susceptible to various health conditions requiring advanced imaging techniques. As the global population ages, the demand for MRI systems is likely to rise, as older adults often require more frequent diagnostic imaging. This demographic shift is expected to propel the market forward, with a projected compound annual growth rate (CAGR) of 4.43% from 2025 to 2035. Healthcare facilities are adapting to this trend by upgrading their imaging equipment to meet the needs of an aging population.

Increased Healthcare Expenditure

The Global Magnetic Resonance Imaging (MRI) Systems Market Industry is benefiting from increased healthcare expenditure across various regions. Governments and private sectors are investing more in healthcare infrastructure, which includes the acquisition of advanced imaging technologies. This trend is particularly evident in emerging economies, where healthcare reforms are leading to enhanced access to diagnostic services. As a result, the demand for MRI systems is expected to grow, contributing to a market valuation of 12 USD Billion by 2035. Enhanced funding for healthcare initiatives is likely to facilitate the adoption of MRI technology in hospitals and clinics.

Rising Awareness of Early Diagnosis

The Global Magnetic Resonance Imaging (MRI) Systems Market Industry is witnessing growth due to rising awareness of the importance of early diagnosis in improving health outcomes. Patients and healthcare providers are increasingly recognizing the value of MRI in detecting diseases at earlier stages, which can lead to more effective treatment options. This heightened awareness is driving demand for MRI systems, as healthcare facilities strive to offer comprehensive diagnostic services. With the market projected to reach 7.45 USD Billion in 2024, the emphasis on early diagnosis is likely to play a crucial role in shaping the future of MRI technology.

Rising Prevalence of Chronic Diseases

The Global Magnetic Resonance Imaging (MRI) Systems Market Industry is significantly influenced by the rising prevalence of chronic diseases such as cancer, neurological disorders, and cardiovascular diseases. As these conditions become more common, the demand for advanced diagnostic imaging solutions increases. MRI is particularly valued for its non-invasive nature and ability to provide detailed images of soft tissues. This trend is expected to contribute to the market's growth, with projections indicating a market value of 12 USD Billion by 2035. Healthcare providers are increasingly investing in MRI technology to enhance diagnostic capabilities and improve patient care.

Technological Advancements in MRI Systems

The Global Magnetic Resonance Imaging (MRI) Systems Market Industry is experiencing rapid technological advancements, which are enhancing imaging capabilities and patient outcomes. Innovations such as functional MRI and high-field MRI systems are becoming increasingly prevalent. These advancements allow for improved diagnostic accuracy and faster imaging times, which are critical in clinical settings. As of 2024, the market is valued at approximately 7.45 USD Billion, reflecting the growing demand for advanced imaging technologies. The integration of artificial intelligence in MRI systems is also anticipated to streamline workflows and reduce operational costs, further driving market growth.

Market Segment Insights

Magnetic Resonance Imaging (MRI) Systems Market Technology Insights

The Global Magnetic Resonance Imaging (MRI) Systems Market has been experiencing substantial growth, particularly within the Technology segment, which encompasses various types of MRI systems. In 2024, the overall market is expected to be valued at 7.45 USD Billion, reflecting a demand for advanced imaging technologies.

Within this sector, Closed MRI Systems hold the majority share, projected to be valued at 3.0 USD Billion in 2024 and growing to 4.8 USD Billion by 2035, underscoring their widespread acceptance due to their ability to provide high-resolution images and clearer diagnostic information.

Open MRI Systems, while representing a smaller portion of the market, are valued at 1.5 USD Billion in 2024 and forecasted to reach 2.5 USD Billion by 2035; their significance lies in offering patient comfort and accessibility, which is essential in clinical settings.

Magnetic Resonance Imaging (MRI) Systems Market Application Insights

The Global Magnetic Resonance Imaging (MRI) Systems Market, particularly in the Application segment, is poised for considerable growth, with the market expected to be valued at approximately 7.45 USD Billion in 2024 and anticipated to grow significantly by 2035.

The demand for MRI systems across various applications is driven by an increase in chronic diseases and the rising prevalence of conditions that require advanced imaging techniques. Within the market, oncology and neurology devices are particularly significant, as they require precise imaging for diagnosis, monitoring, and treatment planning, thereby holding a majority share.

Cardiology is also witnessing increased adoption of MRI technology due to its ability to provide detailed images of heart structures and functions, enhancing patient management strategies. Musculoskeletal and gastrointestinal imaging are growing fields as well, driven by a greater need for non-invasive diagnostics.

Magnetic Resonance Imaging (MRI) Systems Market End Use Insights

The Global Magnetic Resonance Imaging (MRI) Systems Market is experiencing notable growth, driven by diverse End Use applications. In 2024, the overall market is expected to be valued at 7.45 USD Billion, highlighting the robust demand for MRI systems across various settings.

Hospitals play a crucial role in this market, serving as primary facilities for medical imaging and diagnostics. Diagnostic Imaging Centers also significantly contribute to the market, offering specialized imaging services, which cater to the increasing patient population seeking advanced medical care.

Research Institutes are vital for the development of innovative MRI technologies, facilitating advancements that improve diagnostic accuracy. Additionally, Ambulatory Surgical Centers are gaining traction due to their capability to provide outpatient services, making MRI accessible and convenient for patients.

Magnetic Resonance Imaging (MRI) Systems Market Field Strength Insights

The Global Magnetic Resonance Imaging (MRI) Systems Market is witnessing significant growth, with the overall market projected to be valued at 7.45 USD Billion in 2024 and expected to reach 12.0 USD Billion by 2035. The segmentation by Field Strength includes Low-Field MRI Systems, Mid-Field MRI Systems, and High-Field MRI Systems, each holding its respective place in the market.

Low-Field MRI Systems are known for their cost-effectiveness and are primarily utilized in small healthcare facilities, providing basic imaging needs. Mid-Field MRI Systems cater to mid-sized hospitals, balancing performance and cost, thus capturing a substantial market share.

High-Field MRI Systems are notable for their advanced imaging capabilities and enhanced resolution, making them vital in research and specialized health services, which drives a majority holding in the Global Magnetic Resonance Imaging (MRI) Systems Market industry.

Get more detailed insights about Magnetic Resonance Imaging (MRI) Market Research Report – Forecast to 2032

Regional Insights

The Global Magnetic Resonance Imaging (MRI) Systems Market, projected to reach a valuation of 7.45 USD Billion by 2024, showcases a diverse regional segmentation that underscores various growth dynamics. North America emerges as a major player, holding a significant share valued at 3.0 USD Billion in 2024, driven by advanced healthcare infrastructure and high demand for diagnostic imaging.

Europe follows, with a valuation of 2.2 USD Billion in the same year, reflecting robust investments in healthcare technology and aging populations requiring advanced medical imaging solutions. The Asia-Pacific (APAC) region, valued at 1.8 USD Billion, highlights rapid advancements in medical technology and increasing health awareness, positioning it as a significant growth area.

South America, with a valuation of 0.8 USD Billion, is gradually increasing its healthcare capabilities, offering opportunities for growth in MRI systems as market accessibility improves. Meanwhile, the Middle East and Africa (MEA) market is valued at 0.65 USD Billion, characterized by a mix of emerging and developed economies focusing on enhancing healthcare services.

Together, these regions illustrate a complex landscape for the Global Magnetic Resonance Imaging (MRI) Systems Market, with North America dominating the sector due to its extensive healthcare framework and investment capacity, while APAC presents a rapidly developing opportunity frontier.

Magnetic Resonance Imaging (MRI) Systems Market Regional Insights

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

Key Players and Competitive Insights

The Global Magnetic Resonance Imaging (MRI) Systems Market showcases a dynamic landscape driven by technological advancements, increasing applications in diagnostics, and a growing emphasis on non-invasive imaging techniques. Competition in this market is fierce, characterized by several established players and emerging companies aiming to carve out their share of this lucrative segment.

Competitive insights reveal that innovation plays a crucial role with companies focusing on developing state-of-the-art MRI systems that offer enhanced imaging quality, reduced scanning times, and improved patient comfort. Furthermore, the market is witnessing strategic collaborations and partnerships aimed at expanding product offerings and enhancing overall market presence.

As healthcare institutions strive for efficiency and effectiveness in patient care, the focus on advanced imaging technologies remains a key driver for competitive strategies throughout this sector. AgfaGevaert has established a significant presence within the Global Magnetic Resonance Imaging (MRI) Systems Market, leveraging its long-standing expertise in imaging and healthcare solutions.

The company is recognized for its robust portfolio of MRI systems that emphasize high-quality imaging, user-friendly interfaces, and reliability. A notable strength of AgfaGevaert lies in its commitment to research and development, which ensures that its MRI systems incorporate the latest technological advancements, thus meeting the evolving demands of healthcare providers.

Additionally, AgfaGevaert's established reputation and strong distribution networks across various regions enhance its competitiveness, enabling efficient market penetration and delivery of services to healthcare facilities worldwide. The company’s solutions align well with the growing trend of digitalization in healthcare, further solidifying its position in the MRI systems market.

Neusoft Medical Systems holds a prominent position in the Global Magnetic Resonance Imaging (MRI) Systems Market, focusing on innovation and technological enhancements that meet global healthcare requirements. The company offers a range of MRI systems designed to deliver high-resolution imaging while prioritizing patient comfort and workflow efficiency.

Neusoft Medical Systems is renowned for integrating advanced artificial intelligence capabilities into its imaging solutions, which streamline operations and improve diagnostic accuracy. A key strength is its active engagement in strategic partnerships and collaborations to enhance its research capabilities and expand its global footprint.

Neusoft Medical Systems has pursued mergers and acquisitions that enable the company to bolster its product lineup and access new markets, further enhancing its competitive stance in the global arena. Their commitment to providing tailored solutions to meet the specific needs of diverse healthcare environments underscores their goal of enhancing patient care through advanced imaging technologies.

Key Companies in the Magnetic Resonance Imaging Systems Market market include

Industry Developments

Recent developments in the Global Magnetic Resonance Imaging (MRI) Systems Market have shown a notable increase in technological advancements and consolidation activities among key players. AgfaGevaert, Fujifilm Holdings Corporation, and Siemens Healthineers have all been focusing on enhancing imaging techniques and investing in Artificial Intelligence capabilities to improve diagnostic precision.

In terms of mergers and acquisitions, notable activity includes Samsung Medison's acquisition of a smaller imaging company in July 2022 to expand their technology portfolio, and GE Healthcare's partnership with local entities in markets like Asia to enhance their distribution channels as of August 2023.

As a result of these strategic moves, the market has witnessed significant growth; the valuation of the Global MRI Systems Market is projected to reach approximately USD 9.5 billion by 2024, driven largely by increasing demand for non-invasive diagnostic tools.

Additionally, the last couple of years have seen significant regulatory push towards streamlining MRI technology approval processes, aimed at accelerating the entry of innovative solutions into the market. Investments in R&D remain critical, as major players like Philips Healthcare and Mindray are committed to advancing MRI capabilities to address rising healthcare needs globally.

Future Outlook

Magnetic Resonance Imaging Systems Market Future Outlook

The Global Magnetic Resonance Imaging (MRI) Systems Market is projected to grow at a 4.43% CAGR from 2024 to 2032, driven by technological advancements, increasing healthcare expenditure, and rising demand for diagnostic imaging.

New opportunities lie in:

Invest in AI-driven MRI technologies to enhance diagnostic accuracy and workflow efficiency. Expand service offerings in emerging markets to capture growing healthcare demands. Develop portable MRI systems to address accessibility challenges in remote areas.

By 2035, the MRI Systems Market is expected to achieve substantial growth, reflecting advancements and increased global healthcare investments.

Market Segmentation

Magnetic Resonance Imaging (MRI) Systems Market End Use Outlook

Hospitals
Diagnostic Imaging Centers
Research Institutes
Ambulatory Surgical Centers

Magnetic Resonance Imaging (MRI) Systems Market Regional Outlook

North America
Europe
South America
Asia Pacific
Middle East and Africa

Magnetic Resonance Imaging (MRI) Systems Market Technology Outlook

Closed MRI Systems
Open MRI Systems
Functional MRI Systems
High-Field MRI Systems

Magnetic Resonance Imaging (MRI) Systems Market Application Outlook

Oncology
Neurology
Cardiology
Musculoskeletal Imaging
Gastrointestinal Imaging

Magnetic Resonance Imaging (MRI) Systems Market Field Strength Outlook

Low-Field MRI Systems
Mid-Field MRI Systems
High-Field MRI Systems

Report Scope

Report Attribute/Metric	Details
Market Size 2023	6.86 (USD Billion)
Market Size 2024	NA (USD Billion)
Market Size 2032	12 (USD Billion)
Compound Annual Growth Rate (CAGR)	4.28 % (2024 - 2032)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Base Year	2023
Market Forecast Period	2024 - 2032
Historical Data	2018-2022
Forecast Units	Value (USD Billion)
Segments Covered	Type, Application, and End-User
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	General Electric, Siemens Healthineers, Canon Medical Systems, Neusoft Medical Systems, Fujifilm Holdings, Philips Healthcare, AgfaGevaert, Varian Medical Systems, Esaote, Samsung Medison, Shenzhen Anke Hightech, Hitachi Ltd, Hyland Software, Medtronic, Bracco Imaging
Key Market Opportunities	Increasing government support, rising investments in healthcare, and the presence of a well-established pharmaceutical market
Key Market Drivers	Technological advancements in MRI systems, growing prevalence of chronic diseases, and rising healthcare expenditure

Market Highlights

Author

Rahul Gotadki

Assistant Manager

She holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

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