Europe MRI Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers Magnetic Resonance Imaging Companies in Europe and the market is segmented by Architecture (Closed MRI systems and Open MRI Systems), Field Strength (Low Field MRI Systems, Medium Field MRI Systems, Very High Field MRI Systems, and Ultra High MRI Systems), Application (Oncology, Neurology, Cardiology, Gastroenterology, Musculoskeletal, Other Applications) and Geography (Germany, France, United Kingdom, Italy, Spain, Rest of Europe). The market provides the value (in USD million) for the above-mentioned segments.

Europe MRI Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Europe Magnetic Resonance Imaging (MRI) Market Size

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Europe Magnetic Resonance Imaging (MRI) Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 2.64 Billion
Market Size (2030) USD 3.58 Billion
CAGR (2025 - 2030) 6.22 %
Market Concentration Low

Major Players

Europe Magnetic Resonance Imaging (MRI) Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Europe Magnetic Resonance Imaging (MRI) Market Analysis

The Europe Magnetic Resonance Imaging Market size is estimated at USD 2.64 billion in 2025, and is expected to reach USD 3.58 billion by 2030, at a CAGR of 6.22% during the forecast period (2025-2030).

The impact of COVID-19 on the routine diagnostics services industry has been prominent. Governments of various countries have posed restrictions on the usage of MRI, as there are high chances of contamination with the usage of large equipment. According to the study titled "Impact of COVID-19 on the imaging diagnosis of cardiac disease in Europe" published in the British Medical Journal in August 2021, comparing Northern and Southern European centers to Western and Eastern European, the likelihood of canceling all outpatient activities was higher in 2020. Compared to the rest of the globe, Europe saw a higher decrease in the number of imaging procedures. Therefore, the market expansion was constrained by a decline in imaging volume during COVID-19 in Europe.

The major factors attributing to the growth of the Europe Magnetic Resonance Imaging market are the introduction of hybrid MRI systems, availability of universal health coverage in Europe, and increasing emphasis on early diagnosis. The presence of universal healthcare coverage reduces the cost of various procedures including MRI which encourages people to take tests or treatment at regular interval which is one of the most significant growth factors for the MRI market. Universal health coverage (UHC) was endorsed in 2012 by the United Nations, which is a pillar of sustainable development and global security. Most of the European countries, provide universal health coverage and the cost of MRI scanning is reimbursed either in part or in full depending on the country. Some of the established insurance providers in Europe are National Association of Statutory Health Insurance Physicians and the Association of Private Health Insurance in Germany, Hungarian National Health Insurance Fund in Hungary, National House of Health Insurance in Romania, Health Insurance Institute of Slovenia, and KELA in Finland, among others. All these organizations provide insurance for MRI.

The usage of MRI is steadily growing, for instance, personalized care is evolving as an integral part of medicine where molecular imaging is increasing its contribution significantly through the use of non-invasive processes for accurate diagnosis and determination of diseases. As per Eurostats Statistics in February 2022, more than one fifth (20.8 %) of Europe citizens were 65 years of age or older in 2021. Between 2021 and 2100, there will be a projected 2.5-fold increase in the proportion of individuals in the Europe who are 80 years or older, from 6.0 to 14.6%. As the number of the elderly population is expected to increase in near future who are more prone to chronic conditions such as neurological diseases, and other disorders which increases diagnostic procedures and ultimately drives the market over the forecast period.

The presence of key market players, as well as other research-intensive and innovative companies in the country with huge funding for research and development activities that are involved in enhancing the MRI technology, are also expected to contribute significantly to the growth of the MRI market in Germany with the launch of advanced and cost-effective systems. For instance, in May 2021, Grosshansdorf, a Germany-based NeoscanSolution, released a small, light MRI scanner designed to keep journeys short and to scan sick babies in their sleep. This new MRI system uses digitizers and arbitrary waveform generators (AWGs) to generate scanner signals and generate results. Similarly, in October 2021, one of the most powerful MRI system of MAGNETOM 11.7T MRI system by Siemens Healthineerswas installed at NeuroSpin at CEA-Paris-Saclaybased at Frédéric Joliot Institute for Life Sciences, France.

Thus, all above mentioned factors are expected to boost the market growth. However there are few factors which may restrain the market growth such as the high cost of MRI systems.

Europe Magnetic Resonance Imaging (MRI) Industry Overview

The Europe Magnetic Resonance Imaging market is consolidated competitive and consists of a few major players. In terms of market share, few of the major players currently dominate the market. With the increasing prevalence of diseases, technological advancements and increasing ageing population few other players are also expected to enter into the market in the coming years. Some of the major players of the market are GE Healthcare (GE Company), Hitachi Medical Systems, Koninklijke Philips NV, Siemens, and Canon Medical Systems Corporation are among others.

Europe Magnetic Resonance Imaging (MRI) Market Leaders

  1. Koninklijke Philips NV

  2. Siemens Healthineers

  3. Canon Medical Systems Corporation

  4. GE Healthcare (GE Company)

  5. Fujifilm Corporation

  6. *Disclaimer: Major Players sorted in no particular order
Europe Magnetic Resonance Imaging (MRI) Market Concentration
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Europe Magnetic Resonance Imaging (MRI) Market News

  • In July 2021, Philips collaborated with the Spanish National Center for Cardiovascular Research for a new ultra-fast cardiac MRI protocol to develop a magnetic resonance (MR) imaging technique that could potentially revolutionize the use of MR imaging in cardiology.
  • In October 2021, Esaote launched a total body magnetic resonance imaging system called Magnifico Open, which is an open MRI system with cutting-edge technology to satisfy not only the clinical needs but also addressing operational and financial demands.

Europe Magnetic Resonance Imaging (MRI) Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Introduction of Hybrid MRI Systems
    • 4.2.2 Availability of Universal health Coverage in Europe
    • 4.2.3 Increasing Emphasis on Early Diagnosis
  • 4.3 Market Restraints
    • 4.3.1 High Cost of MRI Systems
    • 4.3.2 Declining Helium Availability
  • 4.4 Porter's Five Force Analysis
    • 4.4.1 Threat of New Entrants
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Bargaining Power of Suppliers
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION (Market Size by Value - USD Million)

  • 5.1 By Architecture
    • 5.1.1 Closed MRI Systems
    • 5.1.2 Open MRI Systems
  • 5.2 By Field Strength
    • 5.2.1 Low Field MRI Systems
    • 5.2.2 Medium Field MRI Systems
    • 5.2.3 Very High Field MRI Systems & Ultra High MRI Systems
  • 5.3 By Application
    • 5.3.1 Oncology
    • 5.3.2 Neurology
    • 5.3.3 Cardiology
    • 5.3.4 Gastroenterology
    • 5.3.5 Musculoskeletal
    • 5.3.6 Other Applications
  • 5.4 Geography
    • 5.4.1 Germany
    • 5.4.2 United Kingdom
    • 5.4.3 France
    • 5.4.4 Italy
    • 5.4.5 Spain
    • 5.4.6 Rest of Europe

6. COMPETITIVE LANDSCAPE

  • 6.1 Company Profiles
    • 6.1.1 Bruker Corporation
    • 6.1.2 Esaote SpA
    • 6.1.3 Fonar Corporation
    • 6.1.4 GE Healthcare (GE Company)
    • 6.1.5 Fujifilm Corporation (Hitachi Medical Systems)
    • 6.1.6 Neusoft Medical Systems Co., Ltd
    • 6.1.7 Koninklijke Philips
    • 6.1.8 Siemens Healthineers
    • 6.1.9 Aurora Imaging Technology
    • 6.1.10 Canon Medical Systems Corporation
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments
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Europe Magnetic Resonance Imaging (MRI) Industry Segmentation

As per the scope of the report, MRI devices are electromagnetic imaging devices, which make use of radiofrequency to produce medical images. The Europe Magnetic Resonance Imaging (MRI) Market is segmented By Architecture (Closed MRI systems and Open MRI Systems), Field Strength (Low Field MRI Systems, Medium Field MRI Systems, Very High Field MRI Systems, and Ultra High MRI Systems), Application (Oncology, Neurology, Cardiology, Gastroenterology, Musculoskeletal, Other Applications) and Geography (Germany, France, United Kingdom, Italy, Spain, Rest of Europe). The report offers the value (in USD million) for the above segments.

By Architecture Closed MRI Systems
Open MRI Systems
By Field Strength Low Field MRI Systems
Medium Field MRI Systems
Very High Field MRI Systems & Ultra High MRI Systems
By Application Oncology
Neurology
Cardiology
Gastroenterology
Musculoskeletal
Other Applications
Geography Germany
United Kingdom
France
Italy
Spain
Rest of Europe
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Europe Magnetic Resonance Imaging (MRI) Market Research FAQs

How big is the Europe Magnetic Resonance Imaging (MRI) Market?

The Europe Magnetic Resonance Imaging (MRI) Market size is expected to reach USD 2.64 billion in 2025 and grow at a CAGR of 6.22% to reach USD 3.58 billion by 2030.

What is the current Europe Magnetic Resonance Imaging (MRI) Market size?

In 2025, the Europe Magnetic Resonance Imaging (MRI) Market size is expected to reach USD 2.64 billion.

Who are the key players in Europe Magnetic Resonance Imaging (MRI) Market?

Koninklijke Philips NV, Siemens Healthineers, Canon Medical Systems Corporation, GE Healthcare (GE Company) and Fujifilm Corporation are the major companies operating in the Europe Magnetic Resonance Imaging (MRI) Market.

What years does this Europe Magnetic Resonance Imaging (MRI) Market cover, and what was the market size in 2024?

In 2024, the Europe Magnetic Resonance Imaging (MRI) Market size was estimated at USD 2.48 billion. The report covers the Europe Magnetic Resonance Imaging (MRI) Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Europe Magnetic Resonance Imaging (MRI) Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Europe Magnetic Resonance Imaging Industry Report

Statistics for the 2025 Europe Magnetic Resonance Imaging (MRI) market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Magnetic Resonance Imaging (MRI) analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.