Sacroiliitis Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The MRI systems and equipment market is set to grow at a steady rate, and is expected to reach $ 6.77 billion in 2024. By 2035, it is projected to reach $ 10.3 billion. This represents a CAGR of 3.88% between 2025 and 2035. The growth can be attributed to a number of factors, such as technological advances in MRI, the growing prevalence of chronic diseases, and a growing emphasis on early diagnosis and preventive medicine. The development of high-field MRI systems and the integration of artificial intelligence in MRI systems are expected to enhance diagnostic accuracy and efficiency, thereby driving market growth. These developments are being driven by the major players in the MRI systems and equipment market, such as Siemens Healthineers, GE Healthcare, and Philips Healthcare. Strategic initiatives, such as strategic collaborations and joint ventures, are also expected to shape the competitive landscape. Product launches, such as the MRI 3T system from GE, are expected to boost the market growth.

Regional Market Size

Regional Deep Dive

The MR systems devices market is experiencing significant growth in various regions. This is mainly due to the technological advancement, increasing medical expenditure, and rising prevalence of chronic diseases. Each region has its own characteristics, influenced by the local healthcare systems, government regulations, and economic conditions. North America is leading in the innovation and development of advanced MR systems. Europe is focusing on regulatory compliance and the use of artificial intelligence in medical imaging. The Asia-Pacific region is expanding rapidly, with increasing investments in healthcare infrastructure. The Middle East and Africa are gradually improving access to MR services. Latin America is also a major player, with a growing demand for diagnostic imaging services.

Europe

• The European Union has implemented stricter regulations regarding the safety and efficacy of medical devices, prompting manufacturers to enhance their compliance measures and product offerings.
• Organizations such as the European Society of Radiology are advocating for the integration of AI in MRI systems, which is expected to revolutionize diagnostic processes and improve patient outcomes.

Asia Pacific

• Countries like China and India are significantly increasing their healthcare budgets, leading to a surge in the procurement of advanced MRI systems to meet the growing demand for diagnostic imaging.
• Local companies, such as Neusoft Medical Systems, are developing cost-effective MRI solutions tailored to the needs of emerging markets, which is expected to broaden access to MRI technology.

Latin America

• Brazil and Mexico are witnessing increased foreign investment in healthcare technology, leading to the introduction of advanced MRI systems in public and private hospitals.
• Government programs aimed at improving healthcare access are driving demand for MRI services, particularly in rural areas where diagnostic imaging has been historically limited.

North America

• The FDA has recently approved several innovative MRI technologies, including portable MRI systems, which are expected to enhance accessibility in remote areas and emergency settings.
• Key players like GE Healthcare and Siemens Healthineers are investing heavily in AI-driven MRI solutions, which are anticipated to improve diagnostic accuracy and operational efficiency in healthcare facilities.

Middle East And Africa

• The UAE government has launched initiatives to enhance healthcare infrastructure, including the establishment of advanced imaging centers equipped with state-of-the-art MRI systems.
• Collaborations between local healthcare providers and international companies are on the rise, aiming to improve the quality of MRI services and expand the reach of diagnostic imaging in underserved areas.

Did You Know?

“Did you know that the first MRI scan was performed in 1977, and since then, the technology has evolved to allow for real-time imaging and functional MRI, which can measure brain activity?” — American College of Radiology

Segmental Market Size

The MR-systems market is experiencing a steady growth, primarily driven by the growing demand for advanced medical imaging. The increasing prevalence of chronic diseases, which require accurate diagnostic tools, and the continuous technological advancements that enhance the quality of images and the comfort of patients are the main factors driving the MR-systems market. Furthermore, the regulatory framework promoting early disease diagnosis has further increased the demand for MR-systems and made them a must-have for modern medicine. The MR-systems market is currently in its mature phase, and the leading players such as Siemens Healthineers and GE Healthcare are focusing on innovations. North America and Europe are at the forefront of MR-systems implementation in hospitals and diagnostic centers. The main application areas are oncology, neurology, and musculoskeletal disorders, where accurate diagnostics is of paramount importance. Artificial intelligence is gaining momentum in the MR-systems market, and the trend towards sustainable health care is further increasing the market growth. Superconducting materials and MR-imaging techniques are further enhancing the capabilities and efficiency of MR-systems.

Future Outlook

The MRI System Devices Market is set for substantial growth from 2024 to 2035, when it is anticipated to rise from US$6.77 billion to US$10.3 billion at a CAGR of 3.88%. This is driven by an aging population and an increase in chronic diseases that necessitate more accurate diagnostic tools. The trend towards early detection and individualized medicine is also expected to drive the use of MRI systems in developed and emerging economies. By 2035, MRI is expected to be used in more than 60% of diagnostic imaging, up from 46% in 2024. Artificial intelligence (AI) and machine learning are expected to enhance the imaging capabilities and efficiency of MRI systems. These developments will not only improve diagnostic accuracy but also reduce scan times, thereby making MRI more patient-friendly. Furthermore, the rising funding for healthcare and the availability of more advanced diagnostic tools will further support the growth of the MRI system devices market. Furthermore, the development of portable MRI devices and the growing use of teleradiology will transform the market and make MRI services more convenient and accessible for patients. In the long term, the MRI system devices market is set to undergo a major transformation, driven by technological developments and the growing emphasis on integrated health solutions.