Magnetic Resonance Imaging Market

Detailed market report on the magnetic resonance imaging market, including industry analysis, size, and growth trends from 2025 to 2030.

The Report Covers Global Magnetic Resonance Imaging (MRI) Manufacturers and Market Share and is Segmented by Architecture (Closed MRI Systems and Open MRI Systems), Field Strength (Low Field MRI Systems, High Field MRI Systems, Very High Field MRI Systems, and Ultra-High MRI Systems), Application (Oncology, Neurology, Cardiology, Gastroenterology, Musculoskeletal, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The Report Offers the Value in USD for the Above Segments.

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

Magnetic Resonance Imaging (MRI) Market Size

Magnetic Resonance Imaging Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 10.16 Billion
Market Size (2030) USD 13.67 Billion
CAGR (2025 - 2030) 6.10 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Magnetic Resonance Imaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Magnetic Resonance Imaging Market with other markets in Healthcare Industry

Biotechnology

Pharmaceuticals

Healthcare IT

Medical Devices

Animal Health

Device Drug Combination

Magnetic Resonance Imaging Market Analysis

The Magnetic Resonance Imaging Market size is estimated at USD 10.16 billion in 2025, and is expected to reach USD 13.67 billion by 2030, at a CAGR of 6.1% during the forecast period (2025-2030).

Factors such as the development of hybrid MRI systems, the presence of universal health coverage in regions like North America, Europe, and parts of Asia, and increased usage in emerging markets due to rising disease rates are driving expansion in the MRI industry. For instance, in March 2023, Children's Minnesota became one of the first North American health systems to launch a pediatric hybrid intraoperative MRI suite with both moving-scanner and moving-patient MRI technology in the same surgical space.

The use of multimodality imaging, especially with integrated PET/CT and commercialized PET/MRI systems, is becoming increasingly important within the Medical Imaging market. This trend is anticipated to contribute significantly to market growth. For instance, a study published by the Journal of Nuclear Medicine in December 2023 highlighted how hybrid PET/MRI can offer a more thorough understanding of brain pathology linked to cognitive decline, aiding in Alzheimer's disease diagnosis. Such research underscores the potential of hybrid imaging systems to enhance diagnostics and drive expansion in the Diagnostic Imaging market.

One major factor driving growth in the MRI Systems market during the forecast period is the widespread availability of universal health coverage in many countries worldwide. This coverage reduces the financial burden on individuals for medical procedures like MRI scans, encouraging regular testing and treatment. For instance, 80%-90% of citizens in the United States are covered by programs like Medicare, Medicaid, and SCHIP, while in Canada, Medicare provides health insurance.

Additionally, the adoption and advancement of MRI technology in emerging markets are increasing through the establishment of new facilities across different countries. For instance, in August 2023, India launched one of the first domestically developed, lightweight, high-field (1.5 Tesla), affordable, ultrafast MRI scanners in New Delhi. Under the National Biopharma Mission, this initiative addresses the country's healthcare needs. The development of MRI tailored to the emerging markets' requirements is likely to boost the adoption of the technology and enhance overall market growth.

Thus, owing to the abovementioned factors, such as increasing advancements in MRI and insurance coverage, the market is expected to project significant growth during the forecast period. However, due to the high cost of the MRI systems and associated procedures coupled with the decreasing availability of helium, the growth of the MRI market is expected to be hampered.

Magnetic Resonance Imaging Industry Overview

The global Magnetic Resonance Imaging market is semi-consolidated with several major players. In terms of market share, some major players currently dominate the market. With technological advancements and quality service provisions, mid-size to smaller companies are increasing their market presence by introducing new products at lower prices. Companies like Siemens Healthineers, GE Healthcare, Canon Medical Systems, and Philips Healthcare are among the largest MRI manufacturers, holding a significant MRI Manufacturers market share in the global Magnetic Resonance Imaging market.

Magnetic Resonance Imaging (MRI) Market Leaders

  1. Siemens Healthcare GmbH

  2. Canon Medical Systems Corporation

  3. GE Healthcare

  4. Fujifilm Holdings Corporation

  5. Koninklijke Philips N.V.

  6. *Disclaimer: Major Players sorted in no particular order
Magnetic Resonance Imaging Market Concentration
Need More Details on Market Players and Competiters?
Download PDF

Magnetic Resonance Imaging Market News

  • In February 2024, Ezra, a healthcare Artificial Intelligence (AI) firm specializing in enhancing MRI imaging and early cancer detection, disclosed a successful funding round, securing USD 21 million. The fresh capital injection is earmarked to propel Ezra's expansion, targeting a presence in 20 cities and 50 locations throughout North America by the end of 2024. Additionally, the funding will bolster the adoption of Ezra's AI technology among prominent imaging centers and healthcare professionals.
  • In June 2023, Philips collaborated with Belarsan to enhance hyperpolarized Xenon MRI for patients with respiratory conditions. By integrating the Philips MR 7700 multi-nuclei MRI scanner with Polarsan's XENOVIEW hyperpolarized Xenon contrast agent, this innovative solution may offer clinicians clearer visibility of patients' lungs and enable precise measurement of lung ventilation.

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 North America, Europe, and Several Asian Countries
    • 4.2.3 Increasing Adoption in Emerging Markets
  • 4.3 Market Restraints
    • 4.3.1 High Cost of MRI Systems
    • 4.3.2 Declining Helium Availability
  • 4.4 Porter's Five Forces 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)

  • 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 High Field MRI Systems
    • 5.2.3 Very High Field MRI Systems and 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 North America
    • 5.4.1.1 United States
    • 5.4.1.2 Canada
    • 5.4.1.3 Mexico
    • 5.4.2 Europe
    • 5.4.2.1 Germany
    • 5.4.2.2 United Kingdom
    • 5.4.2.3 France
    • 5.4.2.4 Italy
    • 5.4.2.5 Spain
    • 5.4.2.6 Rest of Europe
    • 5.4.3 Asia-Pacific
    • 5.4.3.1 China
    • 5.4.3.2 Japan
    • 5.4.3.3 India
    • 5.4.3.4 Australia
    • 5.4.3.5 South Korea
    • 5.4.3.6 Rest of Asia-Pacific
    • 5.4.4 Middle East and Africa
    • 5.4.4.1 GCC
    • 5.4.4.2 South Africa
    • 5.4.4.3 Rest of Middle East and Africa
    • 5.4.5 South America
    • 5.4.5.1 Brazil
    • 5.4.5.2 Argentina
    • 5.4.5.3 Rest of South America

6. COMPETITIVE LANDSCAPE

  • 6.1 Company Profiles
    • 6.1.1 Aurora Healthcare US Corp
    • 6.1.2 Canon Medical Systems Corporation
    • 6.1.3 Shenzhen Anke High-tech Co. Ltd
    • 6.1.4 Esaote SpA
    • 6.1.5 GE Healthcare
    • 6.1.6 Fujifilm Holdings Corporation
    • 6.1.7 Koninklijke Philips NV
    • 6.1.8 Neusoft Medical Systems Co. Ltd
    • 6.1.9 Fonar Corporation
    • 6.1.10 Siemens Healthcare GmbH
    • 6.1.11 Bruker 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
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Magnetic Resonance Imaging Industry Segmentation

As per the scope of the report, magnetic resonance imaging is a medical imaging technique used in radiology to produce pictures of the anatomy and the body's physiological processes. These pictures are further used to diagnose and detect the presence of abnormalities in the body.

The magnetic resonance imaging market is segmented by architecture, field strength, application, and geography. By architecture, the market is segmented into closed MRI systems and open MRI systems. The market is segmented by field strength into low-field MRI systems, high-field MRI systems, very high-field MRI systems, and ultra-high MRI systems. By application, the market is segmented into oncology, neurology, cardiology, gastroenterology, musculoskeletal, and other applications. The market is segmented by geography into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value in USD for the above segments.

By Architecture Closed MRI Systems
Open MRI Systems
By Field Strength Low Field MRI Systems
High Field MRI Systems
Very High Field MRI Systems and Ultra-high MRI Systems
By Application Oncology
Neurology
Cardiology
Gastroenterology
Musculoskeletal
Other Applications
Geography North America United States
Canada
Mexico
Europe Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa GCC
South Africa
Rest of Middle East and Africa
South America Brazil
Argentina
Rest of South America
Need A Different Region or Segment?
Customize Now

Magnetic Resonance Imaging (MRI) Market Research FAQs

How big is the Magnetic Resonance Imaging Market?

The Magnetic Resonance Imaging Market size is expected to reach USD 10.16 billion in 2025 and grow at a CAGR of 6.10% to reach USD 13.67 billion by 2030.

What is the current Magnetic Resonance Imaging Market size?

In 2025, the Magnetic Resonance Imaging Market size is expected to reach USD 10.16 billion.

Who are the key players in Magnetic Resonance Imaging Market?

Siemens Healthcare GmbH, Canon Medical Systems Corporation, GE Healthcare, Fujifilm Holdings Corporation and Koninklijke Philips N.V. are the major companies operating in the Magnetic Resonance Imaging Market.

Which is the fastest growing region in Magnetic Resonance Imaging Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Magnetic Resonance Imaging Market?

In 2025, the North America accounts for the largest market share in Magnetic Resonance Imaging Market.

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

In 2024, the Magnetic Resonance Imaging Market size was estimated at USD 9.54 billion. The report covers the Magnetic Resonance Imaging Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Magnetic Resonance Imaging Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

MRI Industry Report

The Magnetic Resonance Imaging (MRI) market is experiencing robust growth, driven by heightened health concerns and an increasing demand for sophisticated diagnostic tools in healthcare. With advancements in multi-contrast and silent scanning technologies, MRI companies are enhancing patient comfort and image accuracy, making MRI an indispensable tool for diagnosing a wide range of conditions across oncology, neurology, cardiology, among others. The market's segmentation by field strength and system architecture caters to diverse clinical needs, with high-field systems known for their imaging precision and open systems being preferred for pediatric and claustrophobic patients.

The integration of multimodality imaging, such as PET/MRI systems, and ongoing research in cancer radiation therapy, offer significant growth potential. Despite challenges like high costs and helium supply constraints, the sector's outlook remains positive due to continuous innovation and the growing necessity for advanced diagnostics. The global market's growth rate is supported by extensive industry analysis and industry reports, providing valuable industry information and industry statistics.

The market forecast and market outlook are promising, with market leaders driving market growth through continuous industry research and development. The market review highlights the importance of market segmentation and market value in understanding the industry's dynamics. Research companies are playing a crucial role in providing market data and market predictions, aiding in strategic decision-making.

This report pdf offers a comprehensive market overview, detailing industry trends and market segmentation. The industry size and industry sales are crucial metrics for evaluating the market's performance. The market predictions and market overview provided in this report example are essential for stakeholders to navigate the evolving landscape of the MRI market.

MRI Market Report Snapshots