How big is the portable magnetic resonance imaging (mri) market today, and what are its future growth expectations?
The portable magnetic resonance imaging (MRI) market size has grown strongly in recent years. It will grow from $3.52 billion in 2024 to $3.78 billion in 2025 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to the increasing prevalence of neurological disorders, rising demand for point-of-care diagnostics, growing awareness of early diagnosis, the need for cost-effective imaging solutions, advancements in battery technology, and improvements in image resolution.
The portable magnetic resonance imaging (MRI) market size is expected to see strong growth in the next few years. It will grow to $4.99 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to longer battery durations for portable units, user-friendly interfaces and automated functionalities, cost reduction, reimbursement policies, and cancer detection and treatment response monitoring. Major trends in the forecast period include artificial intelligence and machine learning algorithms, integration with other imaging modalities such as ultrasound or CT scan, improved resolution and sensitivity, education and training, regenerative medicine and research, and patient-specific imaging protocols.
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What are the top drivers to the rising demand in the portable magnetic resonance imaging (mri) market?
The rising dementia cases are expected to propel the growth of the portable magnetic resonance imaging market going forward. Dementia is a group of progressive neurological disorders characterized by a decline in cognitive function, affecting memory, thinking, behavior, and the ability to perform daily activities. The increasing cases of dementia are attributed to aging populations globally and improved diagnostic capabilities leading to better detection of the condition. Portable magnetic resonance imaging (MRI) is used for dementia by providing on-site brain imaging to assess structural changes and aid in diagnosing and monitoring the condition in various settings, including clinics and care facilities. For instance, in March 2024, according to the Australian Institute of Health and Welfare, an Australia-based government agency, around 411,100 Australians had dementia in 2023, and this number is expected to more than double by the year 2058. Therefore, the rising dementia cases are driving the growth of the portable magnetic resonance imaging market.
How is the portable magnetic resonance imaging (mri) market segmented?
The portable magnetic resonance imaging (MRI) market covered in this report is segmented –
1) By Product: Superconducting-Magnet-Based Portable Magnetic Resonance Imaging (MRI), Electromagnet-Based Portable Magnetic Resonance Imaging (MRI), Permanent-Magnet-Based Portable Magnetic Resonance Imaging (MRI)
2) By Application: Neurology, Musculoskeletal, Gastroenterology, Other Applications
3) By End User: Hospitals, Diagnostic Centers, Ambulatory Surgery Centers, Other End Users
Subsegments:
1) By Superconducting-Magnet-Based Portable MRI: High-Field Superconducting MRI, Low-Field Superconducting MRI, Compact Superconducting MRI Systems, Superconducting MRI For Neurological Imaging, Superconducting MRI For Musculoskeletal Imaging
2) By Electromagnet-Based Portable MRI: Low-Field Electromagnet MRI Systems, Medium-Field Electromagnet MRI Systems, Electromagnetic MRI For Point-Of-Care Use, Electromagnet MRI For Diagnostic Imaging, Portable Electromagnet MRI For Emergency Settings
3) By Permanent-Magnet-Based Portable MRI: High-Resolution Permanent Magnet MRI, Low-Field Permanent Magnet MRI, Compact Permanent Magnet MRI Systems, Permanent Magnet MRI For Field Use, Permanent Magnet MRI For Veterinary Applications
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Who are the top competitors in the portable magnetic resonance imaging (mri) market?
Major companies operating in the portable magnetic resonance imaging (MRI) market are TATA group, Siemens Healthineers AG, Koninklijke Philips N.V., Alliance HealthCare Services Inc., Akumin Inc., Esaote SpA, Meridian Group International Inc., JMP Medical Ltd, DMS Health Pvt. Ltd, Cobalt Health, Aurora Imaging Technology Inc., Kings Medical Group Inc., Hyperfine Inc., Burgess Diagnostics Ltd, Interim Diagnostic Imaging Ltd, PrizMED Imaging Solution Inc., Radiology Management Solutions Ltd, Medco Blue LLC, Odulair LLC, Lamboo Medical Ltd, Advanced Mobility & Shelter Technologies LLC
What significant trends should we anticipate in the portable magnetic resonance imaging (mri) market over the forecast period?
Major companies operating in the portable magnetic resonance imaging market are focused on developing advanced solutions, such as mobile magnetic resonance (MR) imaging scanners, to enhance accessibility and flexibility in medical imaging, particularly for remote and point-of-care settings. Magnetic resonance imaging (MRI) scanners use strong magnetic fields and radio waves to generate detailed images of internal organs and tissues within the body. For instance, in November 2022, Siemens Healthcare AG, a Germany-based healthcare company, launched MAGNETOM Viato Mobile, a new 1.5 Tesla (1.5T) mobile magnetic resonance (MR) imaging scanner optimized for easy transportation to an offsite location. The 70-centimeter-bore scanner is designed to be installed in a trailer, allowing it to bring advanced medical imaging to patients who would otherwise need to travel long distances. The MAGNETOM Viato.Mobile has recently received FDA clearance, showcasing Siemens Healthineers’ commitment to the mobile MR market and its efforts to make high-end imaging technology more accessible. This device enables healthcare providers to deliver advanced medical imaging to patients who would otherwise need to travel long distances, especially in underserved areas.
Which regional trends are influencing the portable magnetic resonance imaging (mri) market, and which area dominates the industry?
North America was the largest region in the portable magnetic resonance imaging (MRI) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the portable magnetic resonance imaging (MRI) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Portable Magnetic Resonance Imaging (MRI) Market Report 2025 Offer?
The portable magnetic resonance imaging (mri) market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Portable magnetic resonance imaging (MRI) refers to a compact, mobile version of traditional magnetic resonance imaging (MRI) technology that allows for on-site imaging of patients in various settings, such as bedside in hospitals or remote locations. These devices provide high-quality diagnostic images, enhancing accessibility and convenience for patients and healthcare providers.
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