MRI Systems Devices Market Overview
As per MRFR analysis, the MRI Systems Devices Market Size was estimated at 6.52 (USD Billion) in 2023. The MRI Systems Devices Market is expected to grow from 6.77 (USD Billion) in 2024 to 10.3 (USD Billion) by 2035. The MRI Systems Devices Market CAGR (growth rate) is expected to be around 3.89% during the forecast period (2025 - 2035).
Key MRI Systems Devices Market Trends Highlighted
A number of significant developments are influencing the direction of the global market for MRI systems and devices. The increasing need for sophisticated diagnostic imaging methods, which improve illness identification and treatment planning, is one important motivator.
High-quality imaging technologies are becoming increasingly important as chronic illnesses like cancer and cardiovascular problems continue to climb in prevalence worldwide. Additionally, the market is driven by the aging population in many locations, especially in industrialized nations, since older persons need more imaging services and medical attention.
Technological developments are creating more opportunities in this sector. New developments that offer greater quality pictures, such 3T and 7T MRI scanners, are drawing interest. Additionally, more and more MRI systems are integrating artificial intelligence, which increases diagnostic efficiency and accuracy.
Additionally, there is an opportunity for expansion due to the growing use of point-of-care MRI scanners, which provide faster and easier imaging solutions in a variety of healthcare settings. Recent trends show a noticeable move toward MRI devices that are portable and reasonably priced.
This innovation is especially helpful in environments with limited resources, where conventional MRI equipment would not be practical.
Manufacturers are working to create magnet designs that reduce claustrophobia and improve patient experience as the emphasis on enhancing patient comfort and cutting down on scan durations gains popularity. All things considered, these trends and factors are reshaping the global market for MRI systems devices, enabling it to adjust to changing medical requirements and technical breakthroughs.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
MRI Systems Devices Market Drivers
Increasing Prevalence of Chronic Diseases
The MRI Systems Devices Market is driven significantly by the rising prevalence of chronic diseases, including neurological disorders and cancers. According to the World Health Organization, the number of individuals diagnosed with chronic diseases is expected to rise exponentially, with projections indicating that chronic diseases will account for 73% of all global deaths by 2025.
Additionally, the American Cancer Society has reported a consistent annual increase in cancer diagnoses, with over 1.8 million new cases expected in the United States in 2022 alone. This alarming trend creates a higher demand for advanced imaging technologies, like MRI systems, to facilitate early diagnosis and effective treatment planning.
As healthcare institutions ramp up their diagnostic capabilities to cater to this increasing patient population, the MRI Systems Devices Market is expected to witness substantial growth.
Organizations such as Siemens Healthineers and GE Healthcare are continuously upgrading their MRI technologies to improve diagnostic accuracy and patient throughput, further stimulating market expansion.
Technological Advancements in MRI Systems
Another vital driver for the MRI Systems Devices Market is the continuous technological advancements in MRI systems, such as the development of high-definition imaging and functional MRI. The U.S. Food and Drug Administration has approved several innovative MRI devices and software improvements in recent years, facilitating enhanced imaging capabilities.
For instance, 3 Tesla MRI systems have gained popularity for their superior resolution and rapid imaging time, addressing the demand for faster diagnosis.
Leading organizations such as Philips and Canon Medical Systems are introducing new models that not only improve patient comfort but also enhance imaging quality, which is contributing to the expansion of the MRI Systems Devices Market. This technological evolution is expected to meet the rising expectations of healthcare providers and patients alike, further propelling market growth.
Government Initiatives and Policies
Government initiatives to enhance healthcare infrastructure and promote medical imaging technologies significantly influence the MRI Systems Devices Market. Various countries have recognized the importance of MRI technology in healthcare and are investing in healthcare upgrades.
For example, the Indian government launched the National Health Mission, which aims to bolster healthcare facilities throughout the nation, particularly in rural areas. This initiative emphasizes the inclusion of advanced diagnostic tools, including MRI systems, to improve early detection and treatment of diseases.
Similar initiatives can be observed in regions such as Europe and North America, where governments are increasing funding for healthcare innovations. These supportive policies lead to increased investment in MRI technology, stimulating market growth and ensuring wider accessibility for patients across the globe.
Rising Geriatric Population
The growing geriatric population is another crucial driver for the MRI Systems Devices Market. The United Nations reports that the number of individuals aged 60 years and older is projected to double from 2020 to 2050, reaching over 2 billion globally.
This demographic shift is particularly significant, as older individuals are more prone to chronic conditions that necessitate advanced imaging techniques like Magnetic Resonance Imaging.
Organizations such as the World Aging Network and the Aging Research Center are documenting increased health needs in this demographic, thereby driving demand for MRI systems in medical facilities. As healthcare systems adapt to cater to this aging population, the focus on improving diagnostic imaging availability will escalate, consequently boosting the MRI Systems Devices Market.
MRI Systems Devices Market Segment Insights
MRI Systems Devices Market Application Insights
The Application segment of the MRI Systems Devices Market revealed a dynamic and evolving landscape, characterized by significant financial projections and diverse areas of application.
Among the various applications, Diagnostic Imaging stood out with a notable valuation of 2.8 USD Billion in 2024, forecasting an increase to 4.2 USD Billion in 2035, representing a majority holding of the market. This dominance was largely due to the critical role that diagnostic imaging played in early disease detection, guiding treatment plans and improving patient outcomes.
Functional Imaging followed with a revenue projection of 1.7 USD Billion in 2024, increasing to 2.5 USD Billion in 2035. This application was significant for its ability to assess and visualize brain activity, making it essential in neurological research and treatment, thus capturing a vital role in healthcare.
Cardiac Imaging, valued at 1.3 USD Billion in 2024 with growth to 2.0 USD Billion by 2035, was increasingly recognized for its importance in diagnosing heart conditions, demonstrating that cardiovascular diseases continue to be a primary health concern worldwide.
Lastly, the Oncology Imaging application, although smaller in valuation at 1.0 USD Billion in 2024, is projected to grow to 1.6 USD Billion in 2035. This growth reflected the escalating demand for advanced imaging techniques in cancer diagnosis and management, as early detection remains paramount in improving survival rates.
The overall market growth was driven by rising healthcare expenditures and advancements in MRI technologies, while challenges such as high equipment costs and limited availability in certain regions could impact accessibility.
Nevertheless, the MRI Systems Devices Market presented ample opportunities for expansion through innovations and strategic collaborations, solidifying its importance in the medical imaging industry.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
MRI Systems Devices Market Type Insights
The segmentation of this market by Type includes Closed MRI Systems, Open MRI Systems, and Extremity MRI Systems, each holding distinct characteristics and importance. Closed MRI Systems are widely used due to their higher magnetic fields, providing superior image quality, and thus, dominate the market share.
Open MRI Systems cater to patient comfort, reducing anxiety for those with claustrophobia, making them significant for specific patient populations. Meanwhile, Extremity MRI Systems offer a more compact solution suitable for outpatient settings and serve as an effective alternative for imaging limbs.
The growth of these MRI systems is driven by technological advancements, increasing applications in various medical disciplines, and a higher prevalence of chronic diseases requiring diagnostic imaging. However, challenges such as high costs and limited reimbursement policies impact adoption.
Still, the trend towards outpatient care and patient-centered approaches presents numerous opportunities for market expansion. Overall, the MRI Systems Devices Market data indicates a robust trajectory of growth fueled by diverse segment offerings and increasing healthcare demands.
MRI Systems Devices Market Field Strength Insights
The MRI Systems Devices Market, particularly within the Field Strength segment, showcased significant revenue growth. The market is characterized by various field strengths, including Low Field MRI, Mid Field MRI, and High Field MRI, each playing a crucial role in the industry dynamics.
Low Field MRI is often used in rural and outpatient settings due to its cost-effectiveness and accessibility, catering to patients who require routine scanning. Mid Field MRI maintains a balance, offering decent image quality while being more affordable than high field systems, making it ideal for general diagnostic purposes.
High Field MRI, however, is gaining prominence for its superior image resolution and diagnostic capabilities, often utilized in specialized medical institutions for complex cases.
The evolution of technologies and growing demand for non-invasive imaging solutions contribute to the ongoing growth in the MRI Systems Devices Market, while challenges such as high installation costs and maintenance continue to shape the competitive landscape.
Overall, the innovations and demand within these distinct field strengths highlight the sector's importance and potential in advancing medical imaging solutions globally.
MRI Systems Devices Market End-user Insights
The MRI Systems Devices Market is characterized by significant engagement from various End-users, especially hospitals, diagnostic imaging centers, and research institutes. Hospitals play a crucial role as they are often the primary providers of medical imaging services, driving a substantial share of the market due to their large patient volumes and advanced medical technologies.
Diagnostic imaging centers are also important contributors, focusing on specialized imaging services that cater to outpatient needs, further enhancing accessibility and efficiency in healthcare. Meanwhile, research institutes utilize MRI systems for advancing clinical research and innovating new imaging techniques, contributing to the ongoing development in the medical field.
The MRI Systems Devices Market segmentation reveals that as these End-users increasingly adopt advanced imaging technologies, they are likely to encounter both challenges and opportunities related to operational efficiency and rapid innovations in imaging solutions.
Trends including integration with artificial intelligence and improvements in imaging resolution are expected to influence growth, making this segment pivotal to the overall expansion of the industry.
MRI Systems Devices Market Regional Insights
The MRI Systems Devices Market was segmented regionally into North America, Europe, South America, Asia Pacific, and the Middle East and Africa, reflecting diverse growth trends and market dynamics.
North America led the market with a valuation of 2.95 USD Billion in 2024, primarily due to advanced healthcare infrastructure and high demand for diagnostic imaging; its significance in the healthcare sector cannot be understated.
Europe followed with a valuation of 1.85 USD Billion, benefitting from strong governmental support in healthcare initiatives, while South America, with a value of 0.39 USD Billion, is experiencing steady growth, albeit at a slower pace.
The Asia Pacific region, valued at 1.69 USD Billion, witnessed the fastest growth driven by increasing investments in healthcare and rising patient populations. The Middle East and Africa contributed 0.59 USD Billion, where growing awareness around advanced medical technologies is shaping the market.
The diverse regional dynamics highlighted the varied preferences and adoption rates, influencing overall MRI Systems Devices Market statistics significantly.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
MRI Systems Devices Market Key Players and Competitive Insights
The MRI Systems Devices Market is a highly competitive landscape characterized by a diverse array of players contributing to advancements in imaging technology. This market is driven by a continual demand for high-quality diagnostic tools in healthcare systems worldwide, particularly as the emphasis on early disease detection grows.
The landscape includes large multinational corporations as well as specialized firms, each striving to leverage innovative technologies, strategic partnerships, and enhanced customer service to establish a competitive edge.
Key factors influencing market dynamics include rapid technological advancements, significant regulatory developments, expansion of healthcare infrastructure, and an increasing patient demographic that necessitates enhanced imaging solutions.
As firms vie for market share, a strong focus is placed on product differentiation, superior quality, and service delivery, leading to incremental advancements in MRI systems.
Samsung Medison stands as a formidable entity in the MRI Systems Devices Market, with a robust reputation for delivering high-performance imaging solutions. The company benefits from a well-established market presence, leveraging its extensive experience and technological prowess to develop MRI systems that cater to a wide range of clinical needs.
Among its strengths is the implementation of advanced imaging technologies that improve diagnostic accuracy and patient outcomes, including features that enhance operational efficiency within healthcare facilities.
Samsung Medison has also demonstrated a dedication to research and development, ensuring that its products remain at the forefront of innovation. This commitment not only aids in product differentiation but also solidifies the company’s standing in a competitive market, enabling it to maintain strong relationships with healthcare providers and industry stakeholders globally.
United Imaging Healthcare has carved a niche for itself in the MRI Systems Devices Market, standing out for its comprehensive suite of imaging solutions designed to meet the evolving demands of medical imaging. The company offers a wide range of products, including cutting-edge MRI machines, which are noted for their superior image quality and patient comfort.
United Imaging Healthcare strengthens its market position through strategic alliances and partnerships, which enhance its innovation capabilities and expand its global reach. The company invests heavily in research and development, focusing on next-generation imaging technologies that provide significant advancements over traditional MRI systems.
Their marketing strategy emphasizes customization and flexibility, resonating well with healthcare systems looking for tailored solutions. United Imaging Healthcare's continued commitment to improving patient outcomes and operational efficiency makes it a competitive player in the global market, while their pursuit of mergers and acquisitions further cements their growth trajectory in MRI technology.
Key Companies in the MRI Systems Devices Market Include:
- Samsung Medison
- United Imaging Healthcare
- Esaote
- General Electric
- Philips Healthcare
- Mindray
- Canon Medical Systems
- Siemens Healthineers
- Hologic
- Fujifilm Holdings
- MR Solutions
- Neusoft Medical Systems
- Block Imaging
- Shimadzu
- Hitachi Medical Corporation
MRI Systems Devices Market Developments
The SIGNA Sprint, a new wide-bore 1.5 T MRI system from GE HealthCare, was unveiled in May 2025. It features ultra-premium, high-performance gradient technology and built-in AI tools, including AIR Recon DL, Sonic DL, and AIR x. It is intended to improve imaging in cardiology and oncology, speed up workflows, and improve patient comfort. It has a 70 cm bore.
GE HealthCare's SIGNATMMAGNUS, a 3.0 T head-only MRI scanner with an asymmetrical, high-efficiency gradient coil designed for neuroimaging, was approved by the FDA on November 13, 2024, improving gradient performance for cutting-edge neuroscientific applications.
This comes after the exploratory SIGNAMAGNUS head-only scanner was unveiled at ISMRM in Singapore on May 6, 2024, and was installed at Brigham and Women's Hospital for joint high-performance neuro MRI research. Sonic DL, an FDA-approved deep learning technology that offers up to 12× acceleration in cardiac MRI, was previously presented by GE HealthCare on June 5, 2023.
It can capture a heartbeat in a single scan and reduce scan time by 83%, greatly increasing patient throughput and accessibility. The company's strategic focus on AI-powered imaging, patient-centered design, and domain-specific solutions to enhance clinical accuracy in MRI spanning cardiology, cancer, and neurology is highlighted by these developments, all of which were directly taken from GEHealthCare releases.
MRI Systems Devices Market Segmentation Insights
MRI Systems Devices Market Application Outlook
- Diagnostic Imaging
- Functional Imaging
- Cardiac Imaging
- Oncology Imaging
MRI Systems Devices Market Type Outlook
- Closed MRI Systems
- Open MRI Systems
- Extremity MRI Systems
MRI Systems Devices Market Field Strength Outlook
- Low Field MRI
- Mid Field MRI
- High Field MRI
MRI Systems Devices Market End-user Outlook
- Hospitals
- Diagnostic Imaging Centers
- Research Institutes
MRI Systems Devices Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
|
Report Attribute/Metric
|
Details
|
|
Market Size 2023
|
6.52(USD Billion)
|
|
Market Size 2024
|
6.77(USD Billion)
|
|
Market Size 2035
|
10.3(USD Billion)
|
|
Compound Annual Growth Rate (CAGR)
|
3.89% (2025 - 2035)
|
|
Report Coverage
|
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
|
|
Base Year
|
2024
|
|
Market Forecast Period
|
2025 - 2035
|
|
Historical Data
|
2019 - 2024
|
|
Market Forecast Units
|
USD Billion
|
|
Key Companies Profiled
|
Samsung Medison, United Imaging Healthcare, Esaote, General Electric, Philips Healthcare, Mindray, Canon Medical Systems, Siemens Healthineers, Hologic, Fujifilm Holdings, MR Solutions, Neusoft Medical Systems, Block Imaging, Shimadzu, Hitachi Medical Corporation
|
|
Segments Covered
|
Application, Type, Field Strength, End-user, Regional
|
|
Key Market Opportunities
|
Technological advancements in imaging, Rising demand for early diagnosis, Increasing prevalence of chronic diseases, Growth in geriatric population, Expansion in emerging markets
|
|
Key Market Dynamics
|
Technological advancements, Rising demand for diagnostics, Increasing geriatric population, Growth in outpatient imaging centers, High costs of MRI systems
|
|
Countries Covered
|
North America, Europe, APAC, South America, MEA
|
Frequently Asked Questions (FAQ):
The MRI Systems Devices Market was valued at 6.77 USD Billion in 2024.
By 2035, the MRI Systems Devices Market is anticipated to reach a value of 10.3 USD Billion.
The MRI Systems Devices Market is expected to grow at a CAGR of 3.89% from 2025 to 2035.
North America held the largest share with a market value of 2.95 USD Billion in 2024.
The market in Europe is projected to be valued at 2.58 USD Billion by 2035.
The Diagnostic Imaging application is expected to be valued at 4.2 USD Billion by 2035.
Major players include General Electric, Siemens Healthineers, Philips Healthcare, and Canon Medical Systems.
Cardiac Imaging reached a market value of 1.3 USD Billion in 2024.
Oncology Imaging is projected to grow from 1.0 USD Billion in 2024 to 1.6 USD Billion by 2035.
The Asia Pacific region's MRI Systems market is expected to grow to 2.3 USD Billion by 2035.
