Magnetic Resonance Imaging Systems Market Size, Share, Opportunities, And Trends By Architecture (Closed MRI Systems, Open MRI Systems), By Field Strength (Low-to-Mid Field MRI Systems, High and Very-High Field MRI Systems, Ultra-High Field MRI Systems), By Application (Brain and Neurological Imaging, Spine and Musculoskeletal Imaging, Cardiac Imaging, Pelvic and Abdominal Imaging, Breast Imaging, Vascular Imaging), By End-User (Hospitals, Diagnostic Imaging Centers, Research Institutes), And By Geography – Forecasts From 2025 To 2030

Magnetic Resonance Imaging Systems (MRI) Market Size:

The global magnetic resonance imaging systems market will grow at a CAGR of 6.14% to be valued at US$12.767 billion in 2030 from US$9.479 billion in 2025.

Magnetic Resonance Imaging Systems (MRI) Market Trends:

Magnetic resonance imaging (MRI) systems are used for medical imaging purposes which help in the diagnosis and monitoring the treatment of various conditions. The scanners in the MRI system make use of strong magnetic fields and radiofrequency energy to make digital images of the required different parts of the body. The market growth is attributed to the rapidly increasing geriatric population and growing incidence of chronic diseases which require an early diagnosis for proper treatment. According to Forbes, 2019, the number of individuals 65 years and older increased by 33%, from 37.2 to 49.2 million people between 2007 to 2017. The number is further expected to continue rising, doubling to 98 million by 2060. Further, the 85 years and older population are expected to increase by more than 8 million by 2040, which will drive the market growth as more patients will require magnetic resonance imaging (MRI) scans to diagnose and monitor the treatment of several health conditions. In addition, according to the World Health Organization, approximately 1.3 million people die each year as a result of road traffic crashes. Often road accidents, lead to complicated musculoskeletal and spinal injuries which have resulted in the increasing demand for advanced MRI systems for better and error-free imaging.

The competitive landscape of MRI systems is promoting investments in the magnetic resonance imaging systems market. This is because there are various diseases which if diagnosed early would help in saving lives of many individuals who otherwise remain unaware and hence, can be benefited from the effective treatment procedures recommended by the medical professionals. Open magnetic resonance systems and closed magnetic resonance systems are in demand and are commercially available to a large consumer base. Also, the growing awareness amongst the patients and the accuracy and reliability of MRI scans are expected to increase the demand for the global magnetic resonance imaging systems market during the forecast period. Furthermore, the technological advancements, owing to the increasing investments in research and development by the key players, are leading to significant improvements in digitalized MRI machines, thus increasing their adoption based on their applications.

By type, the closed MRI systems are estimated to dominate the market as they are more powerful and offer higher image quality and throughput than the open MRI systems. By magnetic field strength, the very high field (3.0T to 7.0T) segment, is expected to grow at the highest CAGR as it is currently in the nascent stage, is expected to grow exponentially in the years to come. Several universities are conducting research or studies on MRI systems. In February 2018, scientists at the University of Minnesota performed an MRI of the human body using a 10.5T MRI machine.  By application, the cerebral segment is expected to account for a notable market share as the brain and neurological imaging produced using the MRI systems are of superior quality as compared to those by computerized tomography scans. By end-user, the hospital's segment is estimated to hold a dominant market share owing to the increasing installation of MRI units in the hospitals, rising applications of rapid MRI (rMRI) in trauma and emergency care centers. Geographically, Europe and North America have a significant market share owing to the prevalence of chronic diseases and the adoption of technologically advanced medical imaging systems, a well-established healthcare system, and the initiatives that are being carried out by the various organizations in the region. The Middle East and Africa and the Asia Pacific regions are expected to grow during the forecast period due to the increasing adoption of the technology and the rising geriatric population in the region.

Magnetic Resonance Imaging Systems (MRI) Market Growth Factors:

• Increase in global population

The global population has been on a constant rise, due to which more number MRI scans are taking place on a day-to-day basis. According to the World Bank, the world population was 7.592 billion which increased to 7.674 billion in 2019. The continuous rise in the population will be favorable for the magnetic resonance imaging systems market as an increased population would mean the number of people suffering from medical conditions, worldwide would be more, which, in turn, would result in increasing the demand for magnetic resonance imaging systems in the long run.

Magnetic Resonance Imaging Systems (MRI) Market Restraints:

• High costs

The major restraint for the magnetic resonance imaging systems market is the high costs associated with the procurement, installation, and maintenance of the MRI machine. The MRI machine is very costly as it is a very specialized machine. The MRI machines are priced between INR 30,00,000 up to 4 Crores,  depending on the specifications. The high costs associated with the machines make it difficult for the small players in the market to purchase these machines, which may hamper the market growth.  

The magnetic resonance imaging systems market report provides an in-depth analysis of the industry landscape, delivering strategic and executive-level insights backed by data-driven forecasts and analysis. This regularly updated report equips decision-makers with actionable intelligence on current market trends, emerging opportunities, and competitive dynamics. It explores the demand for magnetic resonance imaging systems across various applications, such as neurology, cardiology, and oncology, and their adoption across different geographies. The latest advancements in MRI technologies, including hybrid systems and AI-powered imaging solutions, are also analyzed to present a holistic view of the market.

Magnetic Resonance Imaging Systems Market Segmentation:

Magnetic Resonance Imaging Systems Market Segmentation By Architecture

The report analyzes the market by architecture as below:

• Closed MRI Systems
• Open MRI Systems

Magnetic Resonance Imaging Systems Market Segmentation By Field Strength

The report analyzes the market by field strength as below:

• Low-to-Mid Field MRI Systems (1.5T–3T)
• High and Very-High Field MRI Systems (>3T)
• Ultra-High Field MRI Systems (>7T)

Magnetic Resonance Imaging Systems Market Segmentation By Application

The report analyzes the market by application as below:

• Brain and Neurological Imaging
• Spine and Musculoskeletal Imaging
• Cardiac Imaging
• Pelvic and Abdominal Imaging
• Breast Imaging
• Vascular Imaging

Magnetic Resonance Imaging Systems Market Segmentation By End User

The report analyzes the market by end-user as below:

• Hospitals
• Diagnostic Imaging Centers
• Research Institutes

Magnetic Resonance Imaging Systems Market Segmentation By Regions:

The study also analysed the magnetic resonance imaging systems market into the following regions, with country level forecasts and analysis as below:

• North America (USA, Canada, and Mexico)
• South America (Brazil, Argentina, and Others)
• Europe (Germany, UK, France, Spain, and Others)
• Middle East and Africa (Saudi Arabia, UAE, and Others)
• Asia Pacific (China, Japan, India, South Korea, Thailand, Indonesia, and Others)

Magnetic Resonance Imaging Systems Market Competitive Landscape:

The magnetic resonance imaging systems market features key players such as Siemens Healthineers, GE Healthcare, Koninklijke Philips N.V., Canon Medical Systems Corporation, Hitachi Ltd., Esaote S.p.A., and United Imaging Healthcare Co., Ltd, among others. 

Magnetic Resonance Imaging Systems Market Report Coverage:

This report provides extensive coverage as explained in the points below:

• Market size, forecasts, and trends by different architecture, with historical revenue data and analysis focusing on key factors driving adoption, current challenges faced by key players, and major growth areas.
• Market size, forecasts, and trends by field strength, with historical revenue data and analysis.
• Market size, forecasts, and trends by application, with historical revenue data and analysis.
• Market size, forecasts, and trends by end-user, with historical revenue data and analysis across various segments.
• The magnetic resonance imaging systems market is also analysed across different regions, with historical data, regional share, attractiveness and opportunity of these solutions in different countries. The growth prospects and key players operating in these markets. The section also dwells on the macro factors, economic scenario and other complementing factors aiding in market growth. 
• Market dynamics: The section details the market growth factors, restraints, and opportunities in the market. The segment also presents complete market scenario with the help of Porter’s five forces model. 
• Competitive Intelligence: A thorough investigation on the competitive structure of the market presented through proprietary vendor matrix model, market share analysis of key players, insights on strategies of key players and recent major developments undertaken by the companies to gain competitive edge. 
• Research methodology: The assumptions and sources which were considered to arrive at the final market estimates. Additionally, how our model is refined to ensure most significant factors are taken into consideration with the proper hypothesis and bottom-up and top-down approaches enhance the reliability of forecasts further strengthening the trustworthiness of the numbers being presented. 

How this report is helpful to you and reasons for purchase?

• The report provides a strategic outlook of the magnetic resonance imaging systems market to the decision-makers, analysts and other stakeholders in the easy to read format for taking informed decisions.
• The charts, tables and figures make it easy for the executives to gain valuable insights while skimming the report. 
• Analyst support through calls and email for timely clarification and incorporating additional requests. 
• Option of presentation or doc format with the estimates file to take care of diverse requirements. 
• 15% FREE customization with all our reports help cater additional requirements with significant cost-savings. 
• Option of purchasing specific segments of the study, including opting for summary reports or just the estimates file. 

Magnetic Resonance Imaging Systems (MRI) Market Scope:

 

Report Metric	Details
Magnetic Resonance Imaging Systems Market Size in 2025	US$9.479 billion
Magnetic Resonance Imaging Systems Market Size in 2030	US$12.767 billion
Growth Rate	CAGR of 6.14%
Study Period	2020 to 2030
Historical Data	2020 to 2023
Base Year	2024
Forecast Period	2025 – 2030
Forecast Unit (Value)	USD Billion
Segmentation	Architecture Field Strength Application End-User Geography
Geographical Segmentation	North America, South America, Europe, Middle East and Africa, Asia Pacific
List of Major Companies in the Magnetic Resonance Imaging Systems Market	Siemens Healthineers GE Healthcare Koninklijke Philips N.V. Canon Medical Systems Corporation Hitachi Ltd.
Customization Scope	Free report customization with purchase

 

Our Best-Performing Industry Reports:

Report Metric	Details
Magnetic Resonance Imaging Systems Market Size in 2025	US$9.479 billion
Magnetic Resonance Imaging Systems Market Size in 2030	US$12.767 billion
Growth Rate	CAGR of 6.14%
Study Period	2020 to 2030
Historical Data	2020 to 2023
Base Year	2024
Forecast Period	2025 – 2030
Forecast Unit (Value)	USD Billion
Segmentation	Architecture Field Strength Application End-User Geography
Geographical Segmentation	North America, South America, Europe, Middle East and Africa, Asia Pacific
List of Major Companies in the Magnetic Resonance Imaging Systems Market	Siemens Healthineers GE Healthcare Koninklijke Philips N.V. Canon Medical Systems Corporation Hitachi Ltd.
Customization Scope	Free report customization with purchase

 

Our Best-Performing Industry Reports:

• Medical Image Analysis Software Market
• Brain Monitoring Systems Market
• Medical/Diagnostic Imaging Market

---

1. EXECUTIVE SUMMARY 

2. MARKET SNAPSHOT

2.1. Market Overview

2.2. Market Definition

2.3. Scope of the Study

2.4. Market Segmentation

3. BUSINESS LANDSCAPE 

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities 

3.4. Porter’s Five Forces Analysis

3.5. Industry Value Chain Analysis

3.6. Policies and Regulations 

3.7. Strategic Recommendations 

4. TECHNOLOGICAL OUTLOOK

5. MAGNETIC RESONANCE IMAGING SYSTEMS MARKET BY ARCHITECTURE

5.1. Introduction

5.2. Closed MRI Systems

5.3. Open MRI Systems

6. MAGNETIC RESONANCE IMAGING SYSTEMS MARKET BY FIELD STRENGTH

6.1. Introduction

6.2. Low-to-Mid Field MRI Systems (1.5T–3T)

6.3. High and Very-High Field MRI Systems (>3T)

6.4. Ultra-High Field MRI Systems (>7T)

7. MAGNETIC RESONANCE IMAGING SYSTEMS MARKET BY APPLICATION

7.1. Introduction

7.2. Brain and Neurological Imaging

7.3. Spine and Musculoskeletal Imaging

7.4. Cardiac Imaging

7.5. Pelvic and Abdominal Imaging

7.6. Breast Imaging

7.7. Vascular Imaging

8. MAGNETIC RESONANCE IMAGING SYSTEMS MARKET BY END-USER

8.1. Introduction

8.2. Hospitals

8.3. Diagnostic Imaging Centers

8.4. Research Institutes

9. MAGNETIC RESONANCE IMAGING SYSTEMS MARKET BY GEOGRAPHY

9.1. Introduction

9.2. North America

9.2.1. USA

9.2.2. Canada

9.2.3. Mexico

9.3. South America

9.3.1. Brazil

9.3.2. Argentina

9.3.3. Others

9.4. Europe

9.4.1. United Kingdom

9.4.2. Germany

9.4.3. France

9.4.4. Italy

9.4.5. Spain

9.4.6. Others

9.5. Middle East and Africa

9.5.1. Saudi Arabia

9.5.2. UAE

9.5.3. Others

9.6. Asia Pacific

9.6.1. China

9.6.2. Japan

9.6.3. India

9.6.4. South Korea

9.6.5. Taiwan

9.6.6. Thailand

9.6.7. Indonesia

9.6.8. Others

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

10.1. Major Players and Strategy Analysis

10.2. Market Share Analysis

10.3. Mergers, Acquisitions, Agreements, and Collaborations

10.4. Competitive Dashboard

11. COMPANY PROFILES

11.1. Siemens Healthineers

11.2.  GE Healthcare

11.3. Koninklijke Philips N.V.

11.4. Canon Medical Systems Corporation

11.5. Hitachi Ltd.

11.6. Esaote S.p.A.

11.7. United Imaging Healthcare Co., Ltd

11.8. Fujifilm Holdings Corporation 

11.9. Neusoft Medical Systems Co., Ltd. 

11.10. Shimadzu Corporation 

12. APPENDIX

12.1. Currency 

12.2. Assumptions

12.3. Base and Forecast Years Timeline

12.4. Key benefits for the stakeholders

12.5. Research Methodology 

12.6. Abbreviations 

LIST OF FIGURES

LIST OF TABLES

Siemens Healthineers

GE Healthcare

Koninklijke Philips N.V.

Canon Medical Systems Corporation

Hitachi Ltd.

Esaote S.p.A.

United Imaging Healthcare Co., Ltd

Fujifilm Holdings Corporation 

Neusoft Medical Systems Co., Ltd. 

Shimadzu Corporation