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Magnetic Resonance Imaging (MRI) Systems Market Report by Architecture (Closed System, Open System), Field Strength (Low Field Strength, Mid Field Strength, High Field Strength), Application (Oncology, Neurology, Cardiology, Gastroenterology, Musculoskeletal, and Others), End Use (Hospitals, Imaging Centers, Ambulatory Surgical Centers, and Others), Technology (MR Angiogram, MR Venogram, Functional MRI, MR Spectroscopy, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A2570
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Magnetic Resonance Imaging (MRI) Systems Market Overview 2024-2032:
The global magnetic resonance imaging (MRI) systems market size reached US$ 7.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 11.0 Billion by 2032, exhibiting a growth rate (CAGR) of 3.8% during 2024-2032.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 7.8 Billion |
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Market Forecast in 2032
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US$ 11.0 Billion |
| Market Growth Rate 2024-2032 | 3.8% |
Magnetic Resonance Imaging (MRI) refers to a non-invasive imaging technique, which is used to produce three dimensional (3D) images of organs and soft tissues inside the human body. An MRI machine consists of an adjustable bed and a large tube surrounded by a circular magnet through which the machine applies a magnetic field and radio waves on the patient’s body. It produces detailed images and facilitates diagnosis of abnormalities in the brain, bones, breasts, heart, internal organs and spine. The MRI is usually combined with positron emission tomography (PET) and computed tomography (CT) scans to assist the doctors in examining joints, ligaments, cartilage, muscles and tendons, which is useful for detecting various muscular and bone injuries.
Magnetic Resonance Imaging Systems Market Trends:
The increasing prevalence of chronic diseases, along with the rising adoption of diagnostic services across the globe, is one of the key factors driving the growth of the market. MRI enables the early detection of orthopedic, cardiovascular and other conditions, which substantially increases the success rates of the treatment. This has consequently favored the adoption of MRI procedures across the globe. Furthermore, the growing geriatric population, which is more susceptible to such medical conditions, is also contributing to their increased adoption. Various technological advancements in the imaging equipment, such as software upgrades and utilization of super-conducting magnets compatible with cardiac pacemakers, are favoring the market growth. Moreover, innovations such as the introduction of 3D and 4D imaging equipped with accelerated processing speed and automated workflow, coupled with government initiatives to make quality healthcare facilities accessible to all, are projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global magnetic resonance imaging (MRI) systems market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on architecture, field strength, application, end use and technology.
Breakup by Architecture:
- Closed System
- Open System
Breakup by Field Strength:
- Low Field Strength
- Mid Field Strength
- High Field Strength
Breakup by Application:
- Oncology
- Neurology
- Cardiology
- Gastroenterology
- Musculoskeletal
- Others
Breakup by End Use:
- Hospitals
- Imaging Centers
- Ambulatory Surgical Centers
- Others
Breakup by Technology:
- MR Angiogram
- MR Venogram
- Functional MRI
- MR Spectroscopy
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Aspect Imaging, Aurora Imaging Technology, Bruker, Canon Medical Systems, Esaote S.P.A, Fonar Corporation, GE Healthcare, Hitachi, Koninklijke Philips NV, Neusoft Medical Systems, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. and Siemens Healthineers.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Architecture, Field Strength, Application, End use, Technology, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Aspect Imaging, Aurora Imaging Technology, Bruker, Canon Medical Systems, Esaote S.P.A, Fonar Corporation, GE Healthcare, Hitachi, Koninklijke Philips NV, Neusoft Medical Systems, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Siemens Healthineers |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global Magnetic Resonance Imaging (MRI) systems market was valued at US$ 7.8 Billion in 2023.
We expect the global Magnetic Resonance Imaging (MRI) systems market to exhibit a CAGR of 3.8% during 2024-2032.
The rising adoption of diagnostic procedures, including Magnetic Resonance Imaging (MRI) systems, as they enable an early detection of orthopedic, cardiovascular, neurological and other chronic health conditions, is primarily driving the global Magnetic Resonance Imaging (MRI) systems market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of chest MRI procedures to diagnose the coronavirus infection, thereby positively impacting the global market for Magnetic Resonance Imaging (MRI) systems.
Based on the architecture, the global Magnetic Resonance Imaging (MRI) systems market has been segmented into closed system and open system, where closed system currently holds the majority of the total market share.
Based on the field strength, the global Magnetic Resonance Imaging (MRI) systems market can be divided into low field strength, mid field strength, and high field strength. Currently, low field strength exhibits a clear dominance in the market.
Based on the application, the global Magnetic Resonance Imaging (MRI) systems market has been categorized into oncology, neurology, cardiology, gastroenterology, musculoskeletal, and others. Among these, musculoskeletal currently accounts for the largest market share.
Based on the end use, the global Magnetic Resonance Imaging (MRI) systems market can be segregated into hospitals, imaging centers, ambulatory surgical centers, and others. Currently, hospitals exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global Magnetic Resonance Imaging (MRI) systems market include Aspect Imaging, Aurora Imaging Technology, Bruker, Canon Medical Systems, Esaote S.P.A, Fonar Corporation, GE Healthcare, Hitachi, Koninklijke Philips NV, Neusoft Medical Systems, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., and Siemens Healthineers.
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