India Magnetic Resonance Imaging (MRI) Market

India Magnetic Resonance Imaging (MRI) Market Size and Share: 

The India magnetic resonance imaging (MRI) market size reached USD 264.76 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 365.25 Million by 2033, exhibiting a growth rate (CAGR) of 3.64% during 2025-2033 The India magnetic resonance imaging (MRI) market is expanding because of the growing chronic diseases and aging population, combined with ongoing technological advancements that are improving diagnostic accuracy, reducing costs, and increasing access to MRI services across urban and rural areas.

India Magnetic Resonance Imaging (MRI) Market Trends:

Increasing Prevalence of Chronic Diseases and Ageing Population

The rising occurrences of chronic illnesses such as cancer, neurological disorders, cardiovascular conditions, and musculoskeletal diseases is a significant factor driving the demand for MRI services in India. As the population ages, the need for accurate diagnostic tools to detect and monitor these conditions becomes even more critical. MRI scans are particularly valued for their non-invasive nature and ability to provide detailed imaging, making them essential in diagnosing soft tissue abnormalities, tumors, and degenerative conditions. The aging population in India is growing rapidly, which is leading to a greater focus on early diagnosis and treatment. As healthcare professionals shift toward preventive care, the demand for advanced imaging tools like MRI machines is on a rise. For example, in 2024, Fortis Memorial Research Institute, Gurugram, launched North India’s first MR Linac technology for cancer care. This advanced machine combined MRI with radiation therapy, providing real-time imaging for improved tumor targeting and more precise treatment. The MR Linac was expected to enhance cancer care, reduce side effects, and improve patient outcomes. This exemplifies how MRI technology is evolving to address the growing demand for accurate and effective diagnostics and treatment, further accelerating MRI adoption across India.

Technological Advancements

Continuous improvements in MRI technology are enhancing its accessibility, efficiency, and affordability. Contemporary MRI machines operate more swiftly, accurately, and at a lower cost than earlier models, improving diagnostic abilities and growing the availability of these services throughout India. Important advancements like portable MRI devices, 3T and 7T MRI scanners, and AI-driven diagnostic tools are lowering both the expenses and duration of MRI processes, increasing the accessibility of these services. A prime example of this is the introduction of India's first portable AI-driven MRI scanner, the Hyperfine Swoop, by Christian Medical College Vellore in 2024. This low-field scanner operated on just 900 watts of power, similar to a coffee maker, which made it energy-efficient and portable, suitable for environments with limited resources. These innovations are tackling issues concerning access to MRI in remote regions. Moreover, heightened competition among local and international manufacturers is resulting in lower prices, enhancing the affordability of MRI services for both healthcare providers and patients. These technological improvements provide enhanced image quality and quicker scan durations while also increasing patient comfort, broadening diagnostic options and boosting the demand for MRI in healthcare institutions throughout India.

India Magnetic Resonance Imaging (MRI) Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional level for 2025-2033. Our report has categorized the market based on field strength, type, architecture, application, source, product, and end user.

Field Strength Insights:

• High-Field MRI Systems
• Low-to-Mid Field MRI System
• Others

The report has provided a detailed breakup and analysis of the market based on the field strength. This includes high-field MRI systems, low-to-mid field MRI system, and others.

Type Insights:

• Fixed
• Mobile

A detailed breakup and analysis of the market based on the type have also been provided in the report. This includes fixed and mobile.

Architecture Insights:

• Closed MRI Systems
• Open MRI Systems

The report has provided a detailed breakup and analysis of the market based on the architectures. This includes closed MRI systems and open MRI systems.

Application Insights:

• Brain and Neurological
• Oncology
• Spine and Musculoskeletal
• Abdominal
• Cardiac
• Others

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes brain and neurological, oncology, spine and musculoskeletal, abdominal, cardiac, and others.

Source Insights:

• Import
• Domestic

The report has provided a detailed breakup and analysis of the market based on the source. This includes import and domestic.

Product Insights:

• Refurbished
• New

A detailed breakup and analysis of the market based on the product have also been provided in the report. This includes refurbished and new.

End User Insights:

• Hospitals
• Imaging Centers
• Ambulatory Surgical Centers
• Others

The report has provided a detailed breakup and analysis of the market based on the end user. This includes hospitals, imaging centers, ambulatory surgical centers, and others.

Regional Insights:

• North India
• South India
• East India
• West India

The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, East India, and West India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Magnetic Resonance Imaging (MRI) Market News:

• In March 2025, AIIMS Delhi announced it will begin human trials for India's first indigenously developed 1.5 Tesla MRI machine in October. The project, developed under the Indigenous Magnetic Resonance Imaging (IMRI) national mission, is being implemented by SAMEER with collaboration from various agencies. This development marks a significant leap in India's efforts to create indigenous medical technologies.
• In May 2024, Fischer Medical Ventures (FMVL) became the first company in India to manufacture indigenous MRI systems. This move aimed to reduce India's reliance on imported medical devices and enhance healthcare accessibility.

India Magnetic Resonance Imaging (MRI) Market Report Coverage:

Key Questions Answered in This Report:

• How has the India magnetic resonance imaging (MRI) market performed so far and how will it perform in the coming years?
• What is the breakup of the India magnetic resonance imaging (MRI) market on the basis of field strength?
• What is the breakup of the India magnetic resonance imaging (MRI) market on the basis of type?
• What is the breakup of the India magnetic resonance imaging (MRI) market on the basis of architecture?
• What is the breakup of the India magnetic resonance imaging (MRI) market on the basis of application?
• What is the breakup of the India magnetic resonance imaging (MRI) market on the basis of source?
• What is the breakup of the India magnetic resonance imaging (MRI) market on the basis of product?
• What is the breakup of the India magnetic resonance imaging (MRI) market on the basis of end user?
• What is the breakup of the India magnetic resonance imaging (MRI) market on the basis of region?
• What are the various stages in the value chain of the India magnetic resonance imaging (MRI) market? 
• What are the key driving factors and challenges in the India magnetic resonance imaging (MRI) market?
• What is the structure of the India magnetic resonance imaging (MRI) market and who are the key players?
• What is the degree of competition in the India magnetic resonance imaging (MRI) market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India magnetic resonance imaging (MRI) market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the India magnetic resonance imaging (MRI) market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India magnetic resonance imaging (MRI) industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.