Product Code: GVR-1-68038-370-6
Magnetic Resonance Imaging Market Growth & Trends:
The global magnetic resonance imaging market size is expected to reach USD 10.3 billion by 2030, registering a CAGR of 6.5% from 2025 to 2030, according to a new report by Grand View Research, Inc. The growing prevalence of chronic diseases and increasing demand for early diagnostic techniques are the factors expected to drive the market growth. In addition, the growing adoption of less invasive procedures is contributing to the market growth. Moreover, the growing number of clinical trials to understand the effectiveness and efficiency of MRI machines in various clinical applications is expected to boost market growth. End-users, such as research institutes and universities, are actively conducting studies to assess the effectiveness of high-field strength MRI devices, including those with field strengths of 7T, 10T, and 10.5T.
The increasing number of research investigations will contribute to unveiling the potential uses and benefits of high-field MRI machines for a wide range of both preclinical and clinical applications. Technological advancements are further expected to boost the industry growth. The introduction of new software has resulted in quicker scanning and streamlined imaging workflows. Recent progress has facilitated the creation of multi-contrast and cardiac MRI, enhancing imaging capabilities. Software updates provide users with the opportunity to enhance their systems and improve workflow efficiency. As an illustration, in November 2021, Philips unveiled an AI-enabled MR imaging portfolio designed to enhance radiology operations' efficiency and sustainability. This portfolio accelerates MR exams, simplifies workflows, enhances diagnostic quality, and ensures the overall efficiency and sustainability of radiology operations.
Magnetic Resonance Imaging Market Report Highlights:
- The closed systems segment dominated the market with the largest revenue share of 75.6% in 2024, driven by its superior ability to offer enhanced safety, reduced contamination risks, and more controlled environments for imaging procedures.
- MRI machines are categorized based on their field strength, with low-field strength MRI machines having a field strength lower than 1.5T, mid-field MRI machines ranging from 1.5T up to 3T, and high-field MRI machines with a field strength exceeding 3T.
- The brain & neurological segment accounted for the largest revenue share in 2024, owing to the rising prevalence of neurological disorders such as Alzheimer's, Parkinson's, and multiple sclerosis.
- The hospitals segment held the largest market share in 2024, attributed to their critical role in providing comprehensive healthcare services.
- North America magnetic resonance imaging market dominated the market with the largest revenue share of 36.4% in 2024.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Segment Definitions
- 1.2.1. Architecture
- 1.2.2. Field Strength
- 1.2.3. Application
- 1.2.4. End Use
- 1.2.5. Regional Scope
- 1.2.6. Estimates and Forecasts Timeline
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Purchased Database
- 1.4.2. GVR's Internal Database
- 1.4.3. Secondary Sources
- 1.4.4. Primary Research
- 1.4.5. Details of Primary Research
- 1.5. Information or Data Analysis
- 1.5.1. Data Analysis Models
- 1.6. Market Formulation & Validation
- 1.7. Model Details
- 1.8. List of Secondary Sources
- 1.9. List of Primary Sources
- 1.10. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Architecture Outlook
- 2.2.2. Field Strength Outlook
- 2.2.3. Application Outlook
- 2.2.4. End Use Outlook
- 2.2.5. Regional Outlook
- 2.3. Competitive Insights
Chapter 3. Magnetic Resonance Imaging Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Related/Ancillary Market Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.3. Magnetic Resonance Imaging Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's Five Forces Analysis
- 3.3.1.1. Supplier Power
- 3.3.1.2. Buyer Power
- 3.3.1.3. Substitution Threat
- 3.3.1.4. Threat of New Entrant
- 3.3.1.5. Competitive Rivalry
- 3.3.2. PESTLE Analysis
- 3.3.2.1. Political Landscape
- 3.3.2.2. Technological Landscape
- 3.3.2.3. Economic Landscape
Chapter 4. Magnetic Resonance Imaging Market: Architecture Estimates & Trend Analysis
- 4.1. Architecture Segment Dashboard
- 4.2. Magnetic Resonance Imaging Market: Architecture Movement Analysis
- 4.3. Global Magnetic Resonance Imaging Market Size & Trend Analysis, by Architecture, 2018 to 2030 (USD Million)
- 4.4. Open Systems
- 4.4.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 4.5. Closed Systems
- 4.5.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
Chapter 5. Magnetic Resonance Imaging Market: Field Strength Estimates & Trend Analysis
- 5.1. Field Strength Segment Dashboard
- 5.2. Magnetic Resonance Imaging Market: Field Strength Movement Analysis
- 5.3. Global Magnetic Resonance Imaging Market Size & Trend Analysis, by Field Strength, 2018 to 2030 (USD Million)
- 5.4. Low
- 5.4.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 5.5. Mid
- 5.5.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 5.6. High
- 5.6.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
Chapter 6. Magnetic Resonance Imaging Market: Application Estimates & Trend Analysis
- 6.1. Application Segment Dashboard
- 6.2. Magnetic Resonance Imaging Market: Application Movement Analysis
- 6.3. Global Magnetic Resonance Imaging Market Size & Trend Analysis, by Application, 2018 to 2030 (USD Million)
- 6.4. Obstructive Sleep Apnea
- 6.4.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 6.5. Brain & Neurological
- 6.5.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 6.6. Spine & Musculoskeletal
- 6.6.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 6.7. Vascular
- 6.7.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 6.8. Abdominal
- 6.8.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 6.9. Cardiac
- 6.9.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 6.10. Breast
- 6.10.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 6.11. Others
- 6.11.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
Chapter 7. Magnetic Resonance Imaging Market: End Use Estimates & Trend Analysis
- 7.1. End Use Segment Dashboard
- 7.2. Magnetic Resonance Imaging Market: End Use Movement Analysis
- 7.3. Global Magnetic Resonance Imaging Market Size & Trend Analysis, By End Use, 2018 to 2030 (USD Million)
- 7.4. Hospitals
- 7.4.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 7.5. Imaging Centers
- 7.5.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 7.6. Ambulatory Surgical Centers
- 7.6.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 7.7. Others
- 7.7.1. Market Estimates and Forecasts 2018 to 2030 (USD Million)
Chapter 8. Magnetic Resonance Imaging Market: Regional Estimates & Trend Analysis
- 8.1. Regional Market Dashboard
- 8.2. Regional Market Share Analysis, 2024 & 2030
- 8.3. Magnetic Resonance Imaging Market by Region: Key Takeaways
- 8.4. North America
- 8.4.1. U.S.
- 8.4.1.1. Key Country Dynamics
- 8.4.1.2. Regulatory Framework/ Reimbursement Structure
- 8.4.1.3. Competitive Scenario
- 8.4.1.4. U.S. Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.4.2. Canada
- 8.4.2.1. Key Country Dynamics
- 8.4.2.2. Regulatory Framework/ Reimbursement Structure
- 8.4.2.3. Competitive Scenario
- 8.4.2.4. Canada Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.4.3. Mexico
- 8.4.3.1. Key Country Dynamics
- 8.4.3.2. Regulatory Framework/ Reimbursement Structure
- 8.4.3.3. Competitive Scenario
- 8.4.3.4. Mexico Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.5. Europe
- 8.5.1. U.K.
- 8.5.1.1. Key Country Dynamics
- 8.5.1.2. Regulatory Framework/ Reimbursement Structure
- 8.5.1.3. Competitive Scenario
- 8.5.1.4. U.K. Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.5.2. Germany
- 8.5.2.1. Key Country Dynamics
- 8.5.2.2. Regulatory Framework/ Reimbursement Structure
- 8.5.2.3. Competitive Scenario
- 8.5.2.4. Germany Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.5.3. France
- 8.5.3.1. Key Country Dynamics
- 8.5.3.2. Regulatory Framework/ Reimbursement Structure
- 8.5.3.3. Competitive Scenario
- 8.5.3.4. France Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.5.4. Italy
- 8.5.4.1. Key Country Dynamics
- 8.5.4.2. Regulatory Framework/ Reimbursement Structure
- 8.5.4.3. Competitive Scenario
- 8.5.4.4. Italy Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.5.5. Spain
- 8.5.5.1. Key Country Dynamics
- 8.5.5.2. Regulatory Framework/ Reimbursement Structure
- 8.5.5.3. Competitive Scenario
- 8.5.5.4. Spain Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.5.6. Denmark
- 8.5.6.1. Key Country Dynamics
- 8.5.6.2. Regulatory Framework/ Reimbursement Structure
- 8.5.6.3. Competitive Scenario
- 8.5.6.4. Denmark Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.5.7. Sweden
- 8.5.7.1. Key Country Dynamics
- 8.5.7.2. Regulatory Framework/ Reimbursement Structure
- 8.5.7.3. Competitive Scenario
- 8.5.7.4. Sweden Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.5.8. Norway
- 8.5.8.1. Key Country Dynamics
- 8.5.8.2. Regulatory Framework/ Reimbursement Structure
- 8.5.8.3. Competitive Scenario
- 8.5.8.4. Norway Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.6. Asia Pacific
- 8.6.1. Japan
- 8.6.1.1. Key Country Dynamics
- 8.6.1.2. Regulatory Framework/ Reimbursement Structure
- 8.6.1.3. Competitive Scenario
- 8.6.1.4. Japan Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.6.2. China
- 8.6.2.1. Key Country Dynamics
- 8.6.2.2. Regulatory Framework/ Reimbursement Structure
- 8.6.2.3. Competitive Scenario
- 8.6.2.4. China Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.6.3. India
- 8.6.3.1. Key Country Dynamics
- 8.6.3.2. Regulatory Framework/ Reimbursement Structure
- 8.6.3.3. Competitive Scenario
- 8.6.3.4. India Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.6.4. Australia
- 8.6.4.1. Key Country Dynamics
- 8.6.4.2. Regulatory Framework/ Reimbursement Structure
- 8.6.4.3. Competitive Scenario
- 8.6.4.4. Australia Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.6.5. Thailand
- 8.6.5.1. Key Country Dynamics
- 8.6.5.2. Regulatory Framework/ Reimbursement Structure
- 8.6.5.3. Competitive Scenario
- 8.6.5.4. Thailand Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.6.6. South Korea
- 8.6.6.1. Key Country Dynamics
- 8.6.6.2. Regulatory Framework/ Reimbursement Structure
- 8.6.6.3. Competitive Scenario
- 8.6.6.4. South Korea Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.7. Latin America
- 8.7.1. Latin America Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.7.2. Brazil
- 8.7.2.1. Key Country Dynamics
- 8.7.2.2. Regulatory Framework/ Reimbursement Structure
- 8.7.2.3. Competitive Scenario
- 8.7.2.4. Brazil Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.7.3. Argentina
- 8.7.3.1. Key Country Dynamics
- 8.7.3.2. Regulatory Framework/ Reimbursement Structure
- 8.7.3.3. Competitive Scenario
- 8.7.3.4. Argentina Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.8. Middle East and Africa
- 8.8.1. Middle East and Africa Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.8.2. South Africa
- 8.8.2.1. Key Country Dynamics
- 8.8.2.2. Regulatory Framework/ Reimbursement Structure
- 8.8.2.3. Competitive Scenario
- 8.8.2.4. South Africa Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.8.3. Saudi Arabia
- 8.8.3.1. Key Country Dynamics
- 8.8.3.2. Regulatory Framework/ Reimbursement Structure
- 8.8.3.3. Competitive Scenario
- 8.8.3.4. Saudi Arabia Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.8.4. UAE
- 8.8.4.1. Key Country Dynamics
- 8.8.4.2. Regulatory Framework/ Reimbursement Structure
- 8.8.4.3. Competitive Scenario
- 8.8.4.4. UAE Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.8.5. Kuwait
- 8.8.5.1. Key Country Dynamics
- 8.8.5.2. Regulatory Framework/ Reimbursement Structure
- 8.8.5.3. Competitive Scenario
- 8.8.5.4. Kuwait Market Estimates and Forecasts 2018 to 2030 (USD Million)
Chapter 9. Competitive Landscape
- 9.1. Recent Developments & Impact Analysis, By Key Market Participants
- 9.2. Company/ Competition Categorization
- 9.3. Vendor Landscape
- 9.3.1. Key company heat map analysis, 2024
- 9.4. Company Profiles
- 9.4.1. GE HealthCare
- 9.4.1.1. Company Overview
- 9.4.1.2. Financial Performance
- 9.4.1.3. Product Benchmarking
- 9.4.1.4. Strategic Initiatives
- 9.4.2. Siemens Healthineers AG
- 9.4.2.1. Company Overview
- 9.4.2.2. Financial Performance
- 9.4.2.3. Product Benchmarking
- 9.4.2.4. Strategic Initiatives
- 9.4.3. Koninklijke Philips N.V.
- 9.4.3.1. Company Overview
- 9.4.3.2. Financial Performance
- 9.4.3.3. Product Benchmarking
- 9.4.3.4. Strategic Initiatives
- 9.4.4. CANON MEDICAL SYSTEMS CORPORATION
- 9.4.4.1. Company Overview
- 9.4.4.2. Financial Performance
- 9.4.4.3. Product Benchmarking
- 9.4.4.4. Strategic Initiatives
- 9.4.5. Hitachi Healthcare (Hitachi High-Tech Corporation)
- 9.4.5.1. Company Overview
- 9.4.5.2. Financial Performance
- 9.4.5.3. Product Benchmarking
- 9.4.5.4. Strategic Initiatives
- 9.4.6. Hologic, Inc.
- 9.4.6.1. Company Overview
- 9.4.6.2. Financial Performance
- 9.4.6.3. Product Benchmarking
- 9.4.6.4. Strategic Initiatives
- 9.4.7. Bruker
- 9.4.7.1. Company Overview
- 9.4.7.2. Financial Performance
- 9.4.7.3. Product Benchmarking
- 9.4.7.4. Strategic Initiatives
- 9.4.8. Esaote SPA
- 9.4.8.1. Company Overview
- 9.4.8.2. Financial Performance
- 9.4.8.3. Product Benchmarking
- 9.4.8.4. Strategic Initiatives
- 9.4.9. Fujifilm Holdings Corporation
- 9.4.9.1. Company Overview
- 9.4.9.2. Financial Performance
- 9.4.9.3. Product Benchmarking
- 9.4.9.4. Strategic Initiatives
- 9.4.10. Shimadzu Corporation
- 9.4.10.1. Company Overview
- 9.4.10.2. Financial Performance
- 9.4.10.3. Product Benchmarking
- 9.4.10.4. Strategic Initiatives
- 9.4.11. Aurora Imaging Technologies, Inc. (AURORA HEALTHCARE US CORP)
- 9.4.11.1. Company Overview
- 9.4.11.2. Financial Performance
- 9.4.11.3. Product Benchmarking
- 9.4.11.4. Strategic Initiatives