GVR Report cover Refurbished MRI Systems Market Size, Share & Trends Report

Refurbished MRI Systems Market Size, Share & Trends Analysis Report By Architecture (Closed System, Open System), By Field Strength (Low-field, Mid-field, High-field), By End-use (Hospitals, Imaging Centers), By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-4-68040-160-9
  • Number of Pages: 130
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2022
  • Industry: Healthcare

Market Size & Trends

The global refurbished MRI systems market size was valued at USD 827.8 million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 10.72% from 2024 to 2030. Primary factors contributing to the market's growth are the high cost of new MRI systems and increasing demand for healthcare services. Furthermore, the increasing number of suppliers for the refurbished MRI systems and field strength development is also expected to fuel the market growth.

U.S. Refurbished MRI Systems Market size and growth rate, 2024 - 2030

Refurbished medical devices are the restored devices that are rebuilt to meet the safety and performance without changing the intended use of the original device. To ensure its reliability, efficacy, and safety, medical equipment must be refurbished before being used again. Most hospitals and diagnostic centers understand that purchasing a used medical device is a desirable choice. A key factor driving the market is the widespread clinical use of imaging equipment in the diagnosis of various illnesses. With the exception of a few mild illnesses, medical imaging tools such as MRI machines are frequently utilized in the diagnosis of almost all medical conditions.

According to an article published by LBN Medical in February 2023, the average cost of MRI systems featuring a magnetic field strength of 1.5T or lower is approximately USD 367.20. Also, the cost of the 3T MRI system is approximately more than USD 419.66 million. According to an article published by NCBI in July 2023, the MRI system, carries an initial acquisition expense of USD 189.48 million. For healthcare providers, purchasing an MRI machine requires a significant investment due to its high cost. Due to the wide range of sizes and magnetic strengths available for MRI equipment, the price may vary.

The refurbished MRI systems are 35 - 45% less expensive than the new system’s prices. Hence, the high price of the original MRI devices is expected to contribute to the growth of the refurbished MRI systems industry. The market growth is influenced by the presence of several refurbished device suppliers. This increased competition benefits buyers by offering a wider range of options. Reputed suppliers often provide warranties, repair services, and ongoing support for the refurbished MRI systems, giving healthcare facilities confidence in their purchase and ensuring that the equipment remains in good working condition.

Some of the leading suppliers of refurbished MRI systems include Block Imaging; Avante Health Solutions; MRI Medical Equipment; Integrity Medical Systems, Inc., and Radio Oncology Systems Inc. Therefore, the market is anticipated to be driven by the availability of such technologically sophisticated equipment at lower prices. Most hospitals and clinics that have bought or used refurbished medical devices have had variable to largely positive experiences with their purchases. The refurbished MRI systems industry is therefore anticipated to grow throughout the projected period owing to the above-mentioned factors.

Market Concentration & Characteristics

The market growth stage is high, and the pace of the market growth is accelerating. The global refurbished MRI systems industry has witnessed a significant degree of innovation, marked by advancements to enhance both performance and cost effectiveness. Manufacturers are incorporating new technologies to ensure that these systems align with the latest diagnostic standards. For instance, integration of advanced imaging software and artificial intelligence algorithms has become very common, enhancing the overall accuracy and efficiency of the MRI systems.

Refurbished MRI Systems Market Concentration & Characteristics

Key players have been strategically engaging in mergers & acquisitions to strengthen their market presence with a broader product portfolio. In May 2023, Siemens Healthineers collaborated with the hospital giant CommonSpirit Health to acquire Block Imaging. Block Imaging is the key refurbished medical equipment, servicing, and parts supplier company. This acquisition is aimed at providing sustainable options and supporting growing demand among the hospitals, healthcare systems, and others. Variations in the national regulations policies of the refurbished medical devices can be seen. Major markets, such as the U.S. and EU, accept sale and import of refurbished medical devices, while other countries do not.

Architecture Insights

Closed systems dominated the market with the largest revenue share of 72.3 % in 2023. Closed MRI provides high-quality images as compared to open systems. These systems are used traditionally. However, closed systems have very low acceptance by patients having claustrophobia and also it possesses chances of suffocation. Thus, companies are focusing on research to develop advanced open systems which have more acceptance by patients having claustrophobia.

The open systems segment is expected to grow at the fastest rate over the forecast period, Open systems are specially designed for increasing patient convenience. These systems provide comparatively larger platforms for patients. This helps obese and claustrophobic patients. However, open systems have limitations such as inability to take images of some parts of the body and provide low-quality images.

Field Strength Insights

The mid field strength segment dominated the market and accounted for the largest revenue share of 46.1 % in 2023. The range commonly associated with mid-field strength MRI systems is typically 1.5T to 3T. These MRI machines aid in more accurate picture capture and are affordable. These MRI systems are suitable for a variety of diagnostic uses, including imaging of the musculoskeletal system, the brain, and the abdomen. Compared to high field strength systems, mid field strength systems are frequently more affordable to buy and run. Due to this, they are a popular option for smaller clinics and healthcare facilities with limited resources.

The high field strength segment is expected to grow at the fastest CAGR over the forecast period. High field MRI devices acquire images more rapidly when compared to low and mid-field systems. This is especially helpful for individuals like children or claustrophobic people who have trouble staying motionless during the imaging process. For spectroscopic studies, which examine the chemical composition of tissues and can be used to identify uncertainties at the molecular level, high field refurbished MRI devices are more suitable. Thus, high field strength MRI systems can often achieve the same diagnostic information in shorter scan times, improving patient throughput and overall efficiency in a clinical setting.

End-use Insights

Hospitals captured the largest revenue share in 2023. Many used MRI systems come with advanced hardware and software improvements, guaranteeing that they satiate the most recent imaging requirements. Hospitals can use cutting-edge imaging methods without having to purchase new equipment. Due to rising demand from healthcare facilities looking for affordable alternatives, the market for refurbished MRI systems has been expanding. This increasing trend is likely to continue, particularly as hospitals work to improve their imaging offerings.

Global Refurbished MRI Systems Market share and size, 2023

Imaging centers are anticipated to witness significant growth over the forecast period. Increased demand for non-invasive diagnostics is encouraging the emergence of numerous specialized facilities that offer services like MRI. Different medical experts have started their facilities that offer MRI at a reasonable price to suit this rising need. This trend is fostering the utilization of refurbished MRI systems in the medical field, as they require less investment compared to installing new MRI units. During the projected period, expanding government initiatives to enhance and expand the supply of imaging centers to expand access in rural areas are anticipated to drive sector expansion.

Regional Insights

North America dominated the market with the largest revenue share of 35.8% in 2023. The increasing prevalence of chronic diseases, including breast cancer, cardiovascular issues, and neurological conditions, has driven a growing demand for imaging analysis in this field. Over the forecast period, the region is anticipated to continue its dominance. During the forecast period, technological advancements along with an increase in the prevalence of chronic illnesses are expected to drive refurbished MRI system market growth. In North America, a number of companies specialize in refurbishing and marketing MRI equipment. These businesses frequently have a wealth of experience in the medical imaging sector, and they offer guarantees and service agreements to guarantee the dependability of their refurbished equipment.

Refurbished MRI Systems Market Trends by Region, 2024 - 2030

In Asia Pacific, the market is anticipated to witness the fastest CAGR over the forecast period. New regulations in the region are anticipated to standardize the procedure and stimulate regional market growth. In February 2022, the MDA (Malaysian Medical Device Authority) established regulations pertaining to the criteria for registering refurbished medical equipment. For reprocessed medical equipment, there are two registration procedures: ROUTE (A) for the original supplier and ROUTE (B) for third-party refurbishers. Lucrative growth opportunities in developing countries are likely to contribute to the regional market growth.

Key Companies & Market Share Insights

Some of the key players operating in the market include Koninklijke Philips N.V.; GE HealthCare; Siemens Healthineers, and CANON MEDICAL SYSTEMS CORPORATION

  • Koninklijke Philips N.V. offers products and solutions in the areas of diagnostic imaging, enterprise diagnostic informatics, image-guided therapy, ultrasound, monitoring and analytics, sleep and respiratory care, population health management, connected care informatics and therapeutic care.

  • GE HealthCare is a global pharmaceutical diagnostics, medical technology, and digital solutions company. The company operates in imaging, ultrasound, pharmaceutical diagnostics, and patient care solutions. The ultrasound segment includes diagnosis, screening, monitoring of multiple diseases, and therapy support. The pharmaceutical diagnostics segment includes diagnostic imaging agents, which are used to enhance nuclear medicine procedures and radiology across pathways.

  • Avante Health Solutions; Radio Oncology Systems Inc.; Block Imaging are some of the emerging market participants in the refurbished MRI systems industry.

  • Avante Health Solutions is a provider of surgical, medical, diagnostic imaging, and radiation oncology equipment, including sales, service, repair, parts, refurbishing, and installation.

  • Radio Oncology Systems Inc. provides affordable, high quality refurbished and used radiation oncology and diagnostic imaging equipment solutions to facilities globally.

Key Refurbished MRI Systems Companies:

  • Koninklijke Philips N.V.
  • GE HealthCare
  • Siemens Healthcare GmbH
  • Avante Health Solutions
  • MRI Medical Equipment
  • Integrity Medical Systems, Inc.
  • Radio Oncology Systems Inc.
  • Block Imaging

Recent Developments

  • In May 2023, Siemens Healthineers collaborated with the hospital giant CommonSpirit Health to acquire Block Imaging. Block Imaging is the provider of refurbished medical equipment, servicing, and parts. The acquisition aimed to encourage efforts to repair and reuse equipment, to provide greater value to consumers and their patients, and to reduce waste.

  • In January 2023, Radon Medical Imaging (Radon) announced the acquisition of the Premier Imaging Medical Systems. Premier is a provider of maintenance services and sales for new, used, and refurbished imaging and biomedical equipment.

Refurbished MRI Systems Market Report Scope

Report Attribute


Market size value in 2024

USD 913.8 million

Revenue forecast in 2030

USD 1.68 billion

Growth rate

CAGR of 10.72 % from 2024 to 2030

Base year for estimation


Historical data

2018 - 2022

Forecast period

2024 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2024 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, trends

Segments covered

Architecture, field strength, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; UK; Germany; France; Italy; Spain; Denmark; Sweden; Norway; Japan; China; India; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait

Key companies profiled

Koninklijke Philips N.V.; GE HealthCare; Siemens Healthcare GmbH; CANON MEDICAL SYSTEMS CORPORATION; Tyromotion Inc; MRI Medical Equipment; Integrity Medical Systems, Inc.; Radio Oncology Systems Inc., Block Imaging

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Refurbished MRI Systems Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global refurbished MRI systems market report based on architecture, field strength, end-use, and region:

Global Refurbished MRI Systems Market Report Segmentation

  • Architecture Outlook (Revenue, USD Million, 2018 - 2030)

    • Closed System

    • Open System

  • Field Strength Outlook (Revenue, USD Million, 2018 - 2030)

    • Low Field Strength

    • Mid Field Strength

    • High Field Strength

  • End-use Outlook (Revenue, USD Million, 2018 - 2030)

    • Hospitals

    • Imaging Centers

    • Ambulatory Surgical Centers

    • Others

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

      • France

      • Italy

      • Spain

      • Denmark

      • Sweden

      • Norway

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

      • Thailand

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

      • Kuwait

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