| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2019 - 2023 |
| Market Size (2025) | USD 326.85 Million |
| Market Size (2030) | USD 439.67 Million |
| CAGR (2025 - 2030) | 6.11 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Magnetic Resonance Imaging Market Analysis
The India Magnetic Resonance Imaging Market size is estimated at USD 326.85 million in 2025, and is expected to reach USD 439.67 million by 2030, at a CAGR of 6.11% during the forecast period (2025-2030).
- COVID-19 has severely impacted the MRI industry during the pandemic. Stringent lockdown regulations, home quarantine, and postponement of non-emergency procedures resulted in a lower inpatient volume during the pandemic. Also, a decrease in the surgical volume limited the adoption rate of magnetic resonance imaging systems in India. However, significant investment, as well as the launch of a number of MRI equipment in India, is supporting the growth of this market during the pandemic. For instance, in May 2021, the Chief Minister of Andhra Pradesh launched computed tomography (CT) and magnetic resonance imaging machines at RIMS Hospitals in Ongole, Kadapa, Srikakulam, and Nellore government general hospitals with an aim to improve the accessibility to the healthcare facilities.
- Further, the increasing number of agreements between the Government of India and other major players, including leading magnetic resonance imaging companies, for the improvement of MRI equipment is raising the adoption rate of these instruments in healthcare facilities across India. For instance, in January 2023, the IT Ministry signed an agreement with Siemens Healthineers, a prominent MRI machine company, with the aim of offering low-cost MRIs to Indians.
- The development of healthcare infrastructure, along with the increasing installation of advanced MRI equipment, is a prime factor driving the MRI system market in India. For instance, in March 2021, Voxelgrids Innovations Private Limited launched a made in India MRI machine. This further fuels the adoption of advanced MRI instruments among healthcare professionals in India.
- In addition, the high prevalence of certain neurological disorders in India is increasing the demand for early diagnosis and disease monitoring through neurological MRI. For instance, according to an article published by the Alzheimer's Association in January 2023, approximately 8.8 million people over the age of 60 were living with dementia in India. This further augments the demand and adoption of MRI instruments, contributing to the growth of the MR neuro imaging market in India.
- Thus, due to the above-mentioned factors, the MRI market in India is growing.
India Magnetic Resonance Imaging Market Trends
Very High Field MRI Systems are Expected to Witness Strong Growth
- The field strength of an MRI scanner is measured in Tesla or "T." When the field strength of the scanner is 7T or higher, it is referred to as a 'Very high-field' or 'Ultra high field MRI'. The ability to enhance the spatial resolution at which data is captured while maintaining picture quality is a fundamental benefit of ultra-high field MRI. This opens possibilities for neuroscience, especially as a crucial tool for research into psychiatric disorders such as Alzheimer's disease and mild traumatic brain injury, thereby contributing to the growth of the ultra high field MRI market.
- Moreover, other factors, such as the rising burden of chronic disorders and technological advancement, are expected to further boost market growth. According to a study published by ETHealthworld.com in June 2022, approximately 28,000 cases of brain tumors are reported in India every year. This high prevalence of brain tumors is expected to increase the demand for early cancer diagnosis and drive the growth of the high field MRI market in India, as this type of MRI is widely used for neurological diagnostic purposes.
- In addition, numerous advantages, including higher-resolution images and greater accuracy in diagnosing certain medical conditions, are contributing to the growth of this segment in the magnetic resonance imaging (MRI) market. Furthermore, the faster imaging time, the ability to capture high-quality images of soft tissues and vital organs, and the positional advantage offered by open MRI systems—allowing patients to keep their head outside during certain scans—have been instrumental for the growth of this segment during the study period.
Understand The Key Trends Shaping This Market
Download PDF
Oncology Segment is Anticipated to Grow with a Significant Growth Rate During the Forecast Period
- Magnetic resonance imaging (MRI) is a vital tool for cancer diagnosis and treatment, providing detailed images of internal structures to identify and evaluate tumors and abnormalities in soft tissues, organs, and blood vessels.
- The oncology segment is expected to grow significantly during the forecast period. The increasing prevalence of cancer in India is the primary factor for this substantial growth. For instance, according to an article published by the Indian Journal of Medical Research in November 2022, the estimated number of cancer cases was 14,61,427 in 2022 in India. Also, it was reported that lung and breast cancer are the most common types of cancer in males and females, respectively. This surge necessitates advanced diagnostic imaging techniques like MRI.
- According to the same source, approximately 0.28 million cancer cases were reported in 2022 for digestive systems in India. This high burden of cancer is anticipated to raise the demand and adoption of magnetic resonance imaging systems and, hence, fuel segmental growth.
- Apart from this, increasing initiatives by the government and private organizations for promoting cancer awareness in India are also fueling the demand for MRI in India for early diagnosis and interventions. For instance, on 7th November each year, the Union Health Ministry organizes National Cancer Awareness Day with the aim of offering free cancer screening for Indians.
- Also, in February 2023, the Indian Cancer Society launched a month-long campaign to create awareness about cancer, its prevention, and the importance of early cancer detection in India. This is, in turn, increasing the adoption rate of medical diagnostic equipment such as MRI instruments and supporting the growth of the magnetic resonance imaging (MRI) market.
Get Analysis on Important Geographic Markets
Download PDF
India Magnetic Resonance Imaging Industry Overview
The Indian magnetic resonance imaging market is highly competitive and consists of several major players. In terms of MRI market share, a few companies currently dominate the market. However, 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—leading magnetic resonance imaging companies—hold a significant MRI market share by company in the market.
India Magnetic Resonance Imaging Market Leaders
-
Siemens AG
-
Canon Medial Systems
-
GE Healthcare
-
Fujifilm Holdings Corporation
-
Koninklijke Philips N.V.
- *Disclaimer: Major Players sorted in no particular order
Need More Details on Market Players and Competiters?
Download PDF
India Magnetic Resonance Imaging Market News
- August 2023: Union Minister Dr Jitendra Singh announced the launch of India’s first indigenously developed, affordable, lightweight, ultrafast, high field (1.5 Tesla), next generation magnetic resonance imaging scanner in New Delhi
- June 2022: Trivitron Healthcare announced that it is planning to launch made-in-India computed tomography (CT)-scan and magnetic resonance imaging (MRI) in the financial year 2022-23. It will be for both Indian as well as international markets, and it will be used for serving the purpose of better diagnosis in remote areas, too, because of its smart features, cost, and portability.
India Magnetic Resonance Imaging Industry Segmentation
Magnetic resonance imaging is a medical imaging technique that is used in radiology to produce pictures of the anatomy and the physiological processes of the body. These pictures are further used to diagnose and detect the presence of abnormalities in the body.
India magnetic resonance imaging (MRI) market 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), and application (oncology, neurology, cardiology, gastroenterology, musculoskeletal, and other applications).
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 |
Need A Different Region or Segment?
Customize Now
India Magnetic Resonance Imaging Market Research FAQs
How big is the India Magnetic Resonance Imaging Market?
The India Magnetic Resonance Imaging Market size is expected to reach USD 326.85 million in 2025 and grow at a CAGR of 6.11% to reach USD 439.67 million by 2030.
What is the current India Magnetic Resonance Imaging Market size?
In 2025, the India Magnetic Resonance Imaging Market size is expected to reach USD 326.85 million.
Who are the key players in India Magnetic Resonance Imaging Market?
Siemens AG, Canon Medial Systems, GE Healthcare, Fujifilm Holdings Corporation and Koninklijke Philips N.V. are the major companies operating in the India Magnetic Resonance Imaging Market.
What years does this India Magnetic Resonance Imaging Market cover, and what was the market size in 2024?
In 2024, the India Magnetic Resonance Imaging Market size was estimated at USD 306.88 million. The report covers the India Magnetic Resonance Imaging Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the India Magnetic Resonance Imaging Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Our Best Selling Reports
India Magnetic Resonance Imaging Industry Report
Statistics for the 2025 India Magnetic Resonance Imaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Magnetic Resonance Imaging 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.
