Global Magnetic Resonance Imaging Mri Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Field Strength;

Low Field MRI System, Mid Filed MRI System, and High Filed MRI System.

By Application;

Abdomen MRI, Brain MRI, MRA or Vascular MRI, Pelvic MRI, Spine MRI, and Cardiac MRI.

By Architecture;

Open MRI, and Closed MRI.

By End-Use;

Hospitals, Imaging Centers, Ambulatory Surgical Centers, Others.

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn949273697 Published Date: March, 2025 Updated Date: April, 2025

Introduction

Global Magnetic Resonance Imaging Mri Market (USD Million), 2021 - 2031

In the year 2024, the Global Magnetic Resonance Imaging Mri Market was valued at USD 5,710.62 million. The size of this market is expected to increase to USD 7,464.35 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 3.9%.

MRI, a technique that uses magnetic fields and radio waves to generate detailed images of the organs and tissues within the body, has become an indispensable tool in the diagnosis and monitoring of a wide range of medical conditions, including neurological, musculoskeletal, cardiovascular, and oncological disorders. The market expansion is propelled by factors such as the rising prevalence of chronic diseases, growing awareness about early diagnosis, and an aging global population, which is more susceptible to conditions that require MRI scans for accurate diagnosis and treatment planning. Technological innovations such as the development of high-field MRI systems, open MRI systems, and advancements in software applications for better image clarity and interpretation are further fueling market growth.

The market is also shaped by the increasing healthcare expenditure in emerging economies, where improving healthcare infrastructure and expanding access to advanced diagnostic tools are key priorities. North America and Europe currently dominate the MRI market, largely due to well-established healthcare systems, higher adoption rates of advanced medical technologies, and substantial investment in healthcare research and development. The Asia-Pacific region is anticipated to witness the fastest growth, attributed to rising healthcare awareness, government initiatives to enhance healthcare services, and increasing investments by key market players in these regions. The competitive landscape of the MRI market is characterized by the presence of major players such as Siemens Healthineers, GE Healthcare, and Philips Healthcare, who continue to innovate and expand their product portfolios to meet the evolving needs of healthcare providers and patients worldwide.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Field Strength
    2. Market Snapshot, By Application
    3. Market Snapshot, By Architecture
    4. Market Snapshot, By End Use
    5. Market Snapshot, By Region
  4. Global Magnetic Resonance Imaging Mri Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Technological innovations in imaging
        2. Development of hybrid imaging systems
        3. Increasing use of MRI in clinical trials
        4. Rising number of MRI-compatible medical devices
      2. Restraints
        1. Long approval processes for new technologies
        2. Safety concerns related to MRI
        3. Potential health risks from high magnetic fields
      3. Opportunities
        1. Development of advanced contrast agents
        2. Expansion of outpatient imaging centers
        3. Focus on improving patient comfort
        4. Adoption of MRI in veterinary medicine
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Magnetic Resonance Imaging Mri Market, By Field Strength, 2021 - 2031 (USD Million)
      1. Low Field MRI System
      2. Mid Filed MRI System
      3. High Filed MRI System
    2. Global Magnetic Resonance Imaging Mri Market, By Application, 2021 - 2031 (USD Million)
      1. Abdomen MRI
      2. Brain MRI
      3. MRA or Vascular MRI
      4. Pelvic MRI, Spine MRI
      5. Cardiac MRI
    3. Global Magnetic Resonance Imaging Mri Market, By Architecture, 2021 - 2031 (USD Million)
      1. Open MRI
      2. Closed MRI
    4. Global Magnetic Resonance Imaging Mri Market, By End Use, 2021 - 2031 (USD Million)
      1. Hospitals
      2. Imaging Centers
      3. Ambulatory Surgical Centers
      4. Others
    5. Global Magnetic Resonance Imaging Mri Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape Analysis
    1. Company Profiles
      1. Siemens
      2. Philips Healthcare
      3. Toshiba medical systems
      4. Hitachi Medical systems
      5. GE healthcare
      6. Esaote SpA
      7. Sanrad Medical Systems Pvt. Ltd.
  7. Analyst Views
  8. Future Outlook of the Market