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Magnetic Resonance Imaging Market Size, Share, Growth & Industry Analysis, By Architecture (Open Systems, Closed Systems), By Field Strength (High & Very High, Low & Medium, Ultra High), By Application (Obstructive Sleep Apnea, Vascular, Abdominal), By End Use and Regional Analysis, 2025-2032
Pages: 210 | Base Year: 2024 | Release: May 2025 | Author: Versha V.
The market involves the development, production, distribution, and utilization of MRI systems and related technologies.
The market encompasses various product types such as closed MRI, open MRI, and extremity MRI systems, along with associated software and services. The report outlines the primary market drivers and an in-depth analysis of the emerging trends and regulatory frameworks shaping the industry.
The global magnetic resonance imaging market size was valued at USD 7.24 billion in 2024 and is projected to grow from USD 7.66 billion in 2025 to USD 11.64 billion by 2032, exhibiting a CAGR of 6.07% over the forecast period.
This growth is attributed to the increasing demand for accurate, non-invasive diagnostic tools in healthcare applications such as neurology, cardiology, oncology, and musculoskeletal imaging. Rising awareness of early disease detection and the clinical advantages of MRI over conventional imaging methods is driving its adoption across hospitals, diagnostic centers, and research institutions.
Major companies operating in the magnetic resonance imaging industry are GE HealthCare, Siemens Healthcare Private Limited, FUJIFILM Corporation, Koninklijke Philips N.V., Esaote SPA, Hologic, Inc, CANON MEDICAL SYSTEMS CORPORATION, AURORA HEALTHCARE US CORP, FONAR Corp, Shanghai United Imaging Healthcare Co., LTD, SternMed GmbH, Time Medical Holding, Neusoft Medical Systems Co., Ltd., Aspect Imaging Ltd., and Bruker.
The growing chronic disease burden, aging population, and rising healthcare spending has further accelerated the adoption of advanced imaging. Additionally, continuous innovations in MRI systems, such as portable, helium-free, and AI-integrated scanners are enhancing imaging capabilities, operational efficiency, and patient comfort, creating substantial growth opportunities for manufacturers and technology providers.
Market Driver
Rising Prevalence of Chronic and Neurological Diseases
The rising prevalence of chronic and neurological diseases is driving the market growth. This is primarily fueled by the need for accurate, non-invasive diagnostic tools to detect and monitor chronic diseases such as cancer, stroke, multiple sclerosis, and Alzheimer’s.
As healthcare systems confront the increasing burden of these diseases, there is a strong emphasis on early diagnosis and personalized treatment planning, which rely on advanced imaging technologies like MRI.
This technology offers exceptional soft-tissue contrast and detailed visualization that is essential in diagnosing neurological disorders, assessing tumor progression, and guiding interventions in cardiovascular and musculoskeletal conditions.
Additionally, aging populations are witnessing more prevalent chronic conditions, which is aiding the demand for MRI scans, particularly in developed healthcare markets and emerging economies.
Market Challenge
Lengthy Scan Times and Patient Discomfort
One of the major challenges in the magnetic resonance imaging (MRI) market is the lengthy scan times and associated patient discomfort, particularly in traditional closed-bore MRI systems. Patients are often required to lie still in a confined space for 30 to 60 minutes, which can be distressing for individuals with claustrophobia, anxiety, chronic pain, or limited mobility.
The loud operational noise produced by MRI machines further adds to the discomfort, especially for pediatric and elderly patients. These factors not only affect patient compliance but also lead to motion artifacts and incomplete scans, reducing diagnostic accuracy and increasing the need for repeat imaging. In some cases, sedation or anesthesia becomes necessary, raising procedural risks and healthcare costs.
To overcome this challenge, manufacturers are developing advanced MRI technologies that significantly reduce scan times through parallel imaging, compressed sensing, and deep learning-based image reconstruction. These methods accelerate image acquisition while maintaining high image quality.
In addition, the adoption of open and wide-bore MRI systems, along with patient-friendly designs featuring ambient lighting, visual entertainment, and noise reduction features, has greatly improved patient comfort. These innovations are helping healthcare providers deliver faster, more comfortable MRI experiences while maintaining diagnostic precision and operational efficiency.
Market Trend
Integration of Artificial Intelligence (AI) in MRI Systems
Artificial intelligence (AI) is transforming the diagnostic imaging landscape by enhancing both the speed and accuracy of MRI procedures. AI-powered systems accelerate image acquisition and reconstruction, significantly reducing scan times while preserving high image quality.
This improvement increases patient comfort and boosts workflow efficiency in clinical settings. AI also plays a critical role in image interpretation, assisting radiologists in identifying abnormalities such as tumors or lesions with greater precision and consistency.
Personalized AI-driven imaging protocols help tailor scans to individual patient needs, reducing the likelihood of repeat examinations. Beyond image processing, AI streamlines administrative tasks like scheduling and reporting, optimizing resource utilization and enabling faster diagnosis.
As AI integration deepens, MRI systems are becoming smarter and more efficient, driving improved patient outcomes and broader adoption across healthcare facilities.
Segmentation |
Details |
By Architecture |
Open Systems, Closed Systems |
By Field Strength |
High & Very High, Low & Medium, Ultra High |
By Application |
Obstructive Sleep Apnea, Brain & Neurological, Spine & Musculoskeletal, Vascular, Abdominal, and Others |
By End Use |
Hospitals, Imaging Centers, Ambulatory Surgical Centers, and Others |
By Region |
North America: U.S., Canada, Mexico |
Europe: France, UK, Spain, Germany, Italy, Russia, Rest of Europe |
|
Asia-Pacific: China, Japan, India, Australia, ASEAN, South Korea, Rest of Asia-Pacific |
|
Middle East & Africa: Turkey, U.A.E, Saudi Arabia, South Africa, Rest of Middle East & Africa |
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South America: Brazil, Argentina, Rest of South America |
Market Segmentation
By region, the global market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America magnetic resonance imaging market share stood at around 34.07% in 2024, with a valuation of USD 2.47 billion. The region's strong position in the market can be attributed to the advanced healthcare infrastructure, widespread adoption of advanced MRI technologies, and increasing prevalence of chronic and neurological diseases.
Moreover, the presence of a well-established medical research community and substantial healthcare spending further fuels market growth. Additionally, key market players headquartered in the region and continuous technological innovations are driving the expansion of MRI services.
Furthermore, the region benefits from comprehensive reimbursement policies and a supportive regulatory framework that facilitates the adoption of advanced imaging modalities, boosting healthcare providers’ and patients’ confidence in MRI diagnostics.
The magnetic resonance imaging industry in Asia-Pacific is poised for significant growth at a CAGR of 6.96% over the forecast period. This growth is attributed to rising healthcare expenditure and increasing awareness about the benefits of early and accurate disease diagnosis using advanced imaging techniques.
The region’s expanding medical infrastructure and government initiatives to improve healthcare access and quality are supporting the adoption of MRI technology across urban and rural areas.
Moreover, the presence of a large patient population with chronic and lifestyle-related diseases is fueling the demand for advanced diagnostic solutions. Continued technological innovation, strategic collaborations, and the entry of key market players are further propelling the Asia-Pacific market.
Market participants in the magnetic resonance imaging industry are embracing cutting-edge technologies and AI to enhance imaging quality, speed, and accuracy. Manufacturers are investing in advanced hardware designs, such as high-field magnets and open-bore systems, alongside software innovations like machine learning for image reconstruction and automated anomaly detection.
These advancements reflect a commitment to improving patient comfort and clinical outcomes and address the demand for efficient and reliable diagnostic tools across diverse medical specialties. Continuous innovation, coupled with strategic partnerships between technology providers and healthcare institutions, is strengthening the market’s competitiveness and driving its sustained growth.
Recent Developments (Partnerships/Agreements/Product Launch)
Frequently Asked Questions