How big is the magnetic resonance imaging systems devices and equipment market today, and what are its future growth expectations?
The magnetic resonance imaging systems devices and equipment market size has grown strongly in recent years. It will grow from $10.07 billion in 2024 to $10.74 billion in 2025 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to diagnostic imaging advancements, aging population, trauma and emergency care, oncology and cancer diagnosis.
The magnetic resonance imaging systems devices and equipment market size is expected to see steady growth in the next few years. It will grow to $12.02 billion in 2029 at a compound annual growth rate (CAGR) of 2.9%. The growth in the forecast period can be attributed to emerging markets growth, regulatory support, radiation reduction, value-based healthcare. Major trends in the forecast period include high-field and ultra-high-field mri, cardiac mri, musculoskeletal mri, hybrid imaging.
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What have been the primary factors driving the magnetic resonance imaging systems devices and equipment market’s growth?
Changes in lifestyle, technological advancement, and the increase in the number of chronic diseases are increasing the demand for diagnostics, driving the growth of MRI systems market. Magnetic resonance imaging (MRI) systems are used to produce three-dimensional detailed anatomical images of the human body facilitating diagnosis, disease detection, and treatment monitoring. The rising health concerns are increasing the demand for medical imaging technologies in healthcare centres for diagnosis. For instance, in India, 150,000 health and wellness centres with a budget of $ 1.8 billion enable the healthcare system more accessible. Increasing health consciousness and the importance of health insurance are also causing significant growth in the market.
What are the key segments within the magnetic resonance imaging systems devices and equipment market?
The magnetic resonance imaging systems devices and equipment market covered in this report is segmented –
1) By Type: Close MRI, Open MRI
2) By Application: Oncology, Neurology, Cardiology, Inflamatory and Infectious Diseases, Other Applications
3) By End User: Hospitals, Imaging centers, Ambulatory surgical centers
Subsegments:
1) By Close MRI: High-field MRI, Low-field MRI, Very High-field MRI
2) By Open MRI: Open High-field MRI, Open Low-field MRI
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Which key players are shaping the magnetic resonance imaging systems devices and equipment market?
Major companies operating in the magnetic resonance imaging systems devices and equipment market include Siemens Healthineers, GE Healthcare, Philips Healthcare, Hitachi Ltd., Canon Medical Systems, Esaote S.p.A, Bruker Corporation, Fonar Corporation, Neusoft Medical Systems Co. Ltd., Time Medical Systems, Aurora Imaging Technology, AllTech Medical Systems, Magnetica, Tomtec Imaging Systems GMBH, Sanrad Medical Systems Pvt. Ltd., Agilent Technologies Inc., Analogic Corporation, Hologic Inc, IMRIS Inc., Innervision Mri, Medinus Co., Medtronic plc, Millennium Technology Inc., Mindray Medical International Ltd., MR Solutions, Toshiba Corporation, Koninklijke Philips N.V., Hyperfine
How will emerging trends drive the magnetic resonance imaging systems devices and equipment market throughout the forecast period?
Major companies operating in the magnetic resonance imaging systems devices and equipment market focus on developing mobile magnetic resonance imaging (MRI) scanners to enhance patient accessibility, reduce the need for transportation to imaging facilities, and provide efficient diagnostic services directly at the point of care. Mobile magnetic resonance imaging (MRI) scanner refers to a portable MRI unit designed to provide imaging services in various locations outside traditional hospital settings. The scanner operates at a field strength of 1.5T, providing high-quality imaging comparable to traditional stationary systems. For instance, in November 2022, Siemens Healthineers AG, a Germany-based company, launched MAGNETOM Viato. Mobile, a mobile magnetic resonance imaging (MRI) scanner. Featuring a 70 cm open bore, the scanner accommodates a wider range of patients, including those who may experience discomfort in standard bore MRI systems. The MAGNETOM Viato.Mobile includes capabilities for remote scanning and reading, enhancing operational efficiency and enabling expert consultations from afar through platforms like syngo Virtual Cockpit and WeScan.
How do regional factors impact the magnetic resonance imaging systems devices and equipment market, and which region is the largest contributor?
Western Europe was the largest region in the global magnetic resource imaging devices and equipment market in 2023. North America was the second-largest region in global magnetic resource imaging devices and equipment market. The regions covered in the magnetic resonance imaging systems devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Magnetic Resonance Imaging Systems Devices And Equipment Market Report 2025 Offer?
The magnetic resonance imaging systems devices and equipment market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Magnetic Resonance Imaging (MRI) systems, devices, and equipment are advanced medical technologies used to create detailed images of the organs and tissues within the body. These systems utilize strong magnetic fields, radio waves, and computer processing to generate high-resolution images, which are critical for diagnosing various medical conditions, including tumors, neurological disorders, and musculoskeletal injuries. MRI systems are classified into different types, each designed to meet specific diagnostic needs and patient comfort levels.
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