United States Magnetic Resonance Imaging Market

United States Magnetic Resonance Imaging Market Overview:

The United States magnetic resonance imaging market size reached USD 2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 3 Billion by 2033, exhibiting a growth rate (CAGR) of 4.5% during 2025-2033. The market is propelled by increasing prevalence of various chronic conditions, various technological advancements, rising healthcare expenditures, and growing awareness about early detection and prevention of diseases.

United States Magnetic Resonance Imaging Market Trends:

Rising Prevalence of Chronic Diseases

The increasing prevalence of various chronic conditions in the US, such as cancer, neurological disorders, and cardiovascular diseases, has provided a significantly higher impetus for the MRI market. As per National Library of Medicine, the number of people aged 50 and older with at least one chronic condition is expected to rise by 99.5%, from 71.522 million in 2020 to 142.66 million in 2050. At the same period, the number of people with multimorbidity is expected to increase by 91.16%, from 7.8304 million in 2020 to 14.968 million in 2050. MRI is an essential diagnostic tool for early detection, ongoing monitoring, and evaluation of all these conditions, due to its capability to provide highly detailed images of soft tissues and organs internally. Its advantages as a noninvasive and radiation-free diagnostic procedure attract specialists and patients to the greater use of MRI in the management of chronic diseases. This trend is expected to continue, driving steady growth in the market as healthcare systems focus on improving patient outcomes through early and accurate diagnosis.

Increasing Healthcare Spending

The increase in healthcare spending by individuals in the United States is a significant factor driving the growth of the MRI market. According to the Centers for Medicare and Medicaid Services, US health-care spending increased by 4.1% to $ 4.5 trillion in 2022, outpacing the 3. 2% increase in 2021. As people allocate more of their income toward healthcare, there is a growing demand for advanced diagnostic procedures like MRI. Higher disposable incomes and a greater focus on personal health and wellness have led more individuals to seek comprehensive medical evaluations, including preventive and elective imaging services. Additionally, with the availability of better health insurance plans and a rise in the number of insured individuals, more patients are able to afford MRI scans, which are often necessary for the accurate diagnosis and monitoring of various conditions. This willingness to invest in high-quality healthcare services, combined with increased out-of-pocket spending, supports the expansion of MRI usage across the country, thereby propelling market growth.

United States Magnetic Resonance Imaging Market News:

• In June 2023, GE HealthCare (Nasdaq: GEHC) announced the FDA clearance and commercialization of Sonic DL, a cutting-edge deep learning-based technology designed to significantly improve picture acquisition in magnetic resonance imaging (MRI). Sonic DL enables novel imaging paradigms like high-quality cardiac MRI in a single heartbeat. This breakthrough adds to GE HealthCare's portfolio of AI-enabled solutions, which is already market leading.
• In May 2024, United Imaging, a world leader in producing cutting-edge medical imaging and radiation equipment, will present its newest magnetic resonance imaging (MRI) technology, boasting incredible advancements across various fronts, as a Gold sponsor at this year's ISMRM meeting. The company's exhibit at this year's ISMRM meeting strategically divides into four sections, namely Ultra-High Gradient, Ultra-High Field, Artificial Intelligence, and Innovation.
   

United States Magnetic Resonance Imaging Market Segmentation:

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

Architecture Insights:

• Closed System
• Open System
   

The report has provided a detailed breakup and analysis of the market based on the architecture. This includes closed system and open system.

Field Strength Insights:

• Low Field Strength
• Mid Field Strength
• High Field Strength
   

A detailed breakup and analysis of the market based on the field strength have also been provided in the report. This includes low field strength, mid field strength, and high field strength.

Application Insights:

• Obstructive Sleep Apnea (OSA)
• Brain and Neurological
• Spine and Musculoskeletal
• Vascular
• Abdominal
• Cardiac
• Breast
• Others
   

The report has provided a detailed breakup and analysis of the market based on the application. This includes obstructive sleep apnea (OSA), brain and neurological, spine and musculoskeletal, vascular, abdominal, cardiac, breast, and others.

End-Use Insights:

• Hospitals
• Imaging Centers
• Ambulatory Surgical Centers
• Others
   

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

Regional Insights:

• Northeast
• Midwest
• South
• West
   

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

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.

United States Magnetic Resonance Imaging Market Report Coverage:

Key Questions Answered in This Report:

• How has the United States magnetic resonance imaging market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the United States magnetic resonance imaging market?
• What is the breakup of the United States magnetic resonance imaging market on the basis of architecture?
• What is the breakup of the United States magnetic resonance imaging market on the basis of field strength?
• What is the breakup of the United States magnetic resonance imaging market on the basis of application?
• What is the breakup of the United States magnetic resonance imaging market on the basis of end-use?
• What are the various stages in the value chain of the United States magnetic resonance imaging market? 
• What are the key driving factors and challenges in the United States magnetic resonance imaging?
• What is the structure of the United States magnetic resonance imaging market and who are the key players?
• What is the degree of competition in the United States magnetic resonance imaging 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 United States magnetic resonance imaging market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the United States magnetic resonance imaging 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 United States magnetic resonance imaging 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.